Kathmandu. Life insurers have seen attractive progress in their new business. Nepal Insurance Authority (NIA) has released the current fiscal year 2082. This is what the data shows for the 10 months of 83 months (July-April).
According to the statistics, 14 life insurance companies have collected Rs 35.45 billion in first insurance premiums till mid-April of the current fiscal year. Last year, 2081. The company had collected Rs 27.45 billion in insurance premiums till mid-April 2018. The new business of insurers increased by 29.17 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 earned Rs 9.13 billion in insurance premiums till mid-April of the current fiscal year. The company had collected Rs 6.83 billion in first insurance premiums in the same period last year. The company’s new business increased by 33.78 percent in the review period compared to the previous year.
The second is National Life. During the review period, the company has collected Rs 5.04 billion in insurance premiums. The company’s new business increased by 23.09 percent in the review period compared to the same period last year. The company had collected Rs 4.09 billion in insurance premiums till April last year.
Life Insurance Corporation Nepal (LIC Nepal) is the third company to bring in more new business. The company has collected Rs 2.13 billion in insurance premiums till April last year which increased by 29.32 percent to Rs 2.76 billion in the review period.
Similarly, Sun Jyoti Life earned Rs 2.46 billion, Citizen Life earned Rs 2.20 billion, Himalayan Life earned Rs 1.96 billion and Asian Life earned Rs 1.93 billion. In comparison to the previous year, Surya Jyoti Life’s new business increased by 19.69 percent, Citizen Life by 42.92 percent, Himalayan Life by 2.08 percent and Asian Life by 39.18 percent.
Also, Nepal Life Insurance has collected Rs 1.96 billion in insurance premiums, Reliable Nepal Life Insurance Rs 1.96 billion, Prabhu Life Insurance Rs 1.96 billion, IME Life Insurance Rs 1.96 billion, IME Life Insurance Rs 1.96 billion, IME Life Insurance Rs 1.96 billion, IME Life Insurance Rs 1.96 billion, IME Life Insurance Rs 1.96 billion, IME Life Insurance Rs 1.96 billion, IME Life Insurance Rs 1.96 billion, IME Life Insurance Rs 1.96 billion, IME Life Insurance Rs 1.96 billion, IME Life Insurance Rs 1.96 billion, IME Life Insurance Rs 1.94 billion, IME Life Insurance Rs 1.94 billion, IME Life Insurance Rs 1.96 billion, IME Life Insurance Rs 1.96 billion, IME Life Insurance Rs 1.8 billion, and Sun Nepal Life Insurance has collected Rs 1.11 billion There are. In the review period, IME Life Insurance increased 85.89 percent, Reliable Nepal Life Insurance by 39.53 percent, Sanima Reliance Life Insurance by 21.49 percent, Prabhu Mahalaxmi Life Insurance by 29.59 percent, Met Life Insurance by 16.90 percent, Rastriya Life Insurance by 18.03 percent and Sun Nepal Life Insurance by 19.15 percent.
