Kathmandu. In the first month of the new fiscal year, life insurance companies have collected a total insurance premium of Rs 26.22 billion. According to the financial details published by the Nepal Insurance Authority, these companies have collected a total of Rs 26.22 billion in insurance premiums by issuing insurance policies of Rs 3,85,921 during the period.
During this period, these companies have brought in new business of Rs 4.51 billion and collected Rs 21.71 billion in insurance fees through renewals. Looking at this data of the life insurance sector, it seems that the life insurance business is running on the basis of old business rather than new business.
During this period, Nepal Life has collected the highest total insurance premium. The company has collected Rs 6.99 billion in insurance premiums during the period. National Life Insurance Company has collected Rs 3.99 billion in insurance premiums. National Life has collected Rs 2.91 billion in insurance premiums. Himalayan Life has collected Rs 2.29 billion in insurance premiums.
Similarly, LIC Nepal has collected a premium of Rs 2.14 billion. Surya Jyoti Life has collected Rs 1.51 billion in insurance premiums. Asian Life has collected Rs 1.11 billion in premiums.
Similarly, Citizen Life has collected a total premium of Rs 96.01 crore. IME Life has collected a total insurance premium of Rs 90.94 crore. Sanima Reliance Life has collected a total premium of Rs 85.43 crore. Prabhu Mahalaxmi Life has collected a total premium of Rs 76.11 crore. Reliable Nepal Life has collected a total premium of Rs 70.66 crore. Met Life has collected a total premium of Rs 60.28 crore. Sun Nepal Life has collected a total premium of Rs 46.69 crore.
