Kathmandu. Non-life insurers in the current fiscal year 2082. As of mid-March 2018, it has been able to do business of more than Rs 31.70 billion.
As per the data released by the Nepal Insurance Authority (NIA), 14 non-life insurance companies have earned Rs 31.70 billion in insurance premiums by issuing 1,862,114 policies. Previous fiscal year 2081. The companies had earned Rs 28.02 billion in total insurance premiums by issuing 18,43,456 policies till mid-March 2018. The company’s turnover increased by 13.11 percent in the review period compared to the previous year.
The business of 13 insurers has increased compared to the previous year, while the business of one insurer has decreased. Himalayan Airbeast Insurance is ahead in terms of business growth while Shikhar Insurance has brought the highest business till mid-March.
Shikhar Insurance has earned Rs 4.38 billion in insurance premiums till mid-March of the current FY. The company had earned Rs 4.01 billion in total insurance premiums in the previous year. The company’s turnover increased by 9.25 percent in the review period compared to the previous year.
Sagarmatha Lumbini Insurance has become the second largest business buyer in the world. The company has earned Rs 3.36 billion in insurance premiums till mid-March of the current fiscal year. The company had earned Rs 3.32 billion in total insurance premiums in the previous year. The company’s trade increased by 1.32 percent in the previous year.
Similarly, Himalayan Everest Insurance is the third largest businessholder in the market. The company has earned Rs 3.20 billion in total insurance premiums till mid-March of the current fiscal year. The company had earned Rs 2.21 billion in total insurance premiums in the previous fiscal year. The company’s business has increased by 45.15 percent in the first half of the current fiscal year compared to the previous year.
Similarly, Siddhartha Premier Insurance collected Rs 2.99 billion in insurance premiums, IGI Prudential Insurance Rs 2.88 billion, NLG Insurance Rs 2.53 billion, Neco Insurance Rs 2.89 billion, and United Ajod Insurance Rs 1.96 billion. Siddhartha Premier Insurance, IGI Prudential Insurance, NLG Insurance increased by 36.22 percent, Neco Insurance by 9.14 percent and United Ajod Insurance by 22.79 percent.
Similarly, Sanima GIG Insurance has collected Rs 1.88 billion in insurance premiums, Nepal Insurance Rs 1.49 billion, Prabhu Insurance Rs 1.21 billion, Rastriya Beema Rs 1.06 billion, and National Insurance Rs 1.86 billion. In the review period, Sanima GIC Insurance Ltd (13.68 per cent), Nepal Insurance (6.69 per cent), Prabhu Insurance (4.54 per cent) and National Insurance (13.60 per cent) saw a decline of 2.79 per cent in the review period.
