Kathmandu. The new business of life insurers (excluding foreign employment insurance premium) has increased by more than 36 percent.
Nepal Insurance Authority (NIA) has released the current fiscal year 2082. This is what the data shows for the seven months of 83 months (July-January). The 14 life insurance companies that are currently in operation have collected Rs 25.11 billion in first insurance premiums till mid-February of the current fiscal year. Last year, 2081. As of January 1980, the companies had collected Rs 18.43 billion in premiums. Insurers’ new business increased by 36.28 percent in the review period compared to the previous year.
During the review period, Nepal Life Insurance has brought the highest number of new businesses while IME Life is ahead in terms of growth rate. New business increased in all 14 companies.
Nepal Life Insurance has collected Rs 6.75 billion in insurance premiums till mid-January of the current fiscal year. The company had collected Rs 4.59 billion in first insurance premiums in the same period last year. The company’s new business increased by 47.17 percent in the review period compared to the previous year.
The second is National Life. During the review period, the company earned Rs 3.63 billion in first insurance premiums. The company’s new business increased by 32.79 percent in the review period compared to the same period last year. The company had collected Rs 2.73 billion in insurance premiums till mid-January last year.
Life Insurance Corporation Nepal (LIC Nepal) is the third company to bring in more new business. In the review period, the company collected Rs 1.54 billion in insurance premiums from Rs 1.54 billion to Rs 1.93 billion in the review period.
Similarly, Surya Jyoti Life earned Rs 1.69 billion, Citizen Life earned Rs 1.51 billion and Himalayan Life earned Rs 1.38 billion in the review period. In comparison to the previous year, Surya Jyoti Life’s new business increased by 22.78 percent, Citizen Life Life by 45.04 percent and Himalayan Life Insurance by 0.50 percent.
Nepal Life Insurance has collected Rs 1.19 billion in insurance premiums, Citizen Life Insurance Rs 1.4 billion, Reliable Life Insurance Rs 1.4 billion, Reliable Life Insurance Rs 1.96 billion, Sun Nepal Life Insurance Rs 1.98 billion, IME Life Insurance Rs 1.8 billion, IME Life Insurance Rs 1.8 billion, IME Life Insurance Rs 1.8 billion, IME Life Insurance Rs 1.8 billion, and Sun Nepal Life Insurance Rs 1.11 billion. They have done. In the review period, IME Life Insurance increased 98.32 percent, Asian Life Insurance by 36.90 percent, Sanima Life Insurance by 31.46 percent, Reliable Nepal Life Insurance by 56.76 percent, Prabhu Mahalaxmi Life Insurance by 30.50 percent, Met Life Insurance by 19.37 percent, Rastriya Life Insurance by 50.63 percent and Sun Nepal Life Insurance by 18.70 percent.
