Kathmandu. Non-life insurers in the current fiscal year 2082. In the month of January 2018, it has been able to do business of more than Rs 3.86 billion.
As per the data released by the Insurance Authority of Nepal (IA), 14 non-life insurance companies have earned Rs 3.86 billion in insurance premium by issuing 236,778 policies. Previous fiscal year 2081. In January 2018, the companies had issued 2,32,361 policies and earned Rs 3.39 billion in total premiums. The company’s turnover increased by 13.91 percent in the review month compared to the previous year.
The business of 11 insurers has increased in February this year compared to the previous year, while the business of three insurers has decreased. Shikhar Insurance has brought the most business in the month of January, followed by Himalayan Airbend Insurance in terms of business growth.
Shikhar Insurance has earned a net profit of Rs 54.40 crore in the current FY. The company had posted a net profit of Rs 54.17 crore in the same quarter last year. The company’s business increased by 0.42 percent in the review month compared to the previous year.
Sagarmatha Lumbini Insurance has become the second largest business buyer in the world. The company earned Rs 37.62 crore in insurance premiums in the current fiscal year. The company had posted a net profit of Rs 38.39 crore in the same quarter last year. The company’s business declined by 2 percent in the previous year.
Similarly, Neco Insurance is the third largest company in the world. The company earned Rs 34.87 crore in insurance premiums in the current fiscal year. The company had earned a total insurance premium of Rs 28.51 crore in the previous year. The company’s business has increased by 22.29 percent in February compared to the previous year.
Similarly, Himalayan Everest Insurance collected Rs 34.64 crore, Rastriya Beema Rs 32.51 crore, Siddhartha Premier Insurance Rs 31.84 crore, IGI Prudential Insurance Rs 31.25 crore, NLG Insurance Rs 30.93 crore and United Ajod Insurance Rs 22.5 million.
Himalayan Everest Insurance, Rastriya Beema Company, Siddhartha Premier Insurance 2.94 percent, IGI Prudential Insurance 7.87 percent, NLG Insurance 44.14 percent and United Ajod Insurance 13.84 percent increased in the review period.
In the current FY, Oriental Insurance collected Rs 18.61 crore, Sanima GIC Insurance Rs 17.30 crore and Nepal Insurance Rs 16.29 crore. In the review period, Oriental Insurance Company Ltd (LIC) Ltd and Sanima GIC Insurance Ltd Ltd (9.89 per cent) and Nepal Insurance Ltd (2.04 per cent) increased by 2.04 per cent respectively.
Similarly, Prabhu Insurance collected Rs 13.35 crore and National Insurance Rs 100.03 million in total premiums. Prabhu Insurance Company and National Insurance Company Ltd increased by 5.28 percent and 40.34 percent respectively in the review month compared to the previous year.
