Kathmandu. Current fiscal year 2082. Life insurance companies have brought in business of more than Rs 111.05 billion in the first seven months of ’83 BS.
According to the Nepal Insurance Authority, 14 life insurance companies have collected a total insurance premium of Rs 111.05 billion till mid-January 2018. Last year, 2081. As of January 2018, the companies had brought in Rs 95.38 billion. The company’s turnover increased by 16.43 percent in the review period compared to the previous year.
During the review period, Nepal Life Insurance Company (NLIC) was the top gainer in terms of business growth while National Life Insurance Company was ahead in terms of business growth. The business of all the companies has increased compared to the previous year.
In the current FY, Nepal Life has earned a total insurance premium of Rs 29.59 billion. The company had collected Rs 26.56 billion in insurance premiums in the same period last year. The company’s turnover increased by 13.81 percent in the review period compared to the previous year.
Similarly, National Life is the second largest businessman in the world. The company has collected Rs 13.31 billion in insurance premiums till mid-January. The company had earned Rs 11.23 billion in insurance premiums in the same period last year. The company’s business increased by 18.46 percent compared to the previous year.
Life Insurance Corporation (LIC Nepal) is in the third position in terms of bringing in the largest business. The company has collected Rs 12.03 billion in total insurance premiums in the review period of the previous fiscal year, up from Rs 11.17 billion. The company’s turnover increased by 7.77 percent in the review period compared to the previous year.
Also, Gurans Life Insurance has collected Rs 18.11 billion in insurance premiums, Citizen Life Insurance Rs 4.11 billion, Citizen Life Insurance Rs 1.4 billion, Citizen Life Insurance Rs 1.4 billion, Prabhu Life Insurance Rs 1.1 billion, Prabhu Life Insurance Rs 1.1 billion, and Sun Nepal Life Insurance has collected Rs 1.11 billion. Likewise, Himalayan Life Insurance Company Ltd (5.42 per cent), Rastriya Life Insurance Company (93.89 per cent), Surya Jyoti Life Insurance (11.92 per cent), Asian Life Insurance (9.53 per cent) and Citizen Life Insurance (18.95 per cent) increased in the review period.
Likewise, Sun Nepal Life Insurance has collected Rs 1.11 billion in insurance premiums, Prabhu Life Insurance Rs 2.19 billion, Prabhu Life Insurance Rs 1.11 billion, Prabhu Life Insurance Rs 1.11 billion, Prabhu Life Insurance Rs 1.11 billion, and Sun Nepal Life Insurance Rs 2.11 billion. The business of all these companies has increased compared to the previous year.
