Kathmandu. Non-life insurers have been able to do business of more than Rs 4.87 billion in the current fiscal year 2082. In the month of March 2018, they have managed to do business of more than Rs 4.87 billion.
The Insurance Authority of Nepal (NIA) has released the data for the third quarter of the current fiscal year. According to the data, 14 non-life insurers issued 3,47,872 insurance policies in the month of March alone and earned a total premium of Rs 4.87 billion. In the previous fiscal year 2081. In the previous fiscal year, the companies issued 2,91,776 insurance policies and earned a total premium of Rs 2.91 billion. The business of the companies increased by 18.98 percent in the review month compared to the previous year.
Compared to the previous year, the business of 10 insurers has increased and the business of 4 insurers has decreased. United Ajod Insurance has been ahead in terms of the highest turnover and growth rate in March.
In the current financial year, United Ajod Insurance has collected a total insurance premium of Rs 60.17 crore. In the same period last year, the company had collected a total insurance premium of Rs 25.62 crore. The company’s business increased by 134.81 percent in March compared to the previous year.
Similarly, Himalayan Everest Insurance was the second highest business in the month of March. The company collected a total insurance premium of Rs 53.44 crore in March. In the previous year, the company had collected a total insurance premium of Rs 57.49 crore. The company’s business declined by 7.05 percent during the review period compared to the previous year.
Orient Insurance was the third largest business-taker in the current financial year. The company collected a total insurance premium of Rs 45.10 crore in the previous year, up 7.11 per cent from Rs 48.31 crore in the review period.
Similarly, NLG Insurance earned Rs 47.80 crore, Sagarmatha Lumbini Insurance Rs 46.39 crore, IGI Prudential Insurance Rs 41.86 crore, Shikhar Insurance Rs 41.58 crore, Neco Insurance Rs 33.36 crore and Siddhartha Premier Insurance Rs 32.88 crore. NLG Insurance increased by 73.60 percent, Sagarmatha Lumbini Insurance by 11.80 percent, IGI Prudential Insurance by 16.64 percent, Shikhar Insurance by 25.29 percent, Neco Insurance by 20.46 percent and Siddhartha Premier Insurance by 6.55 percent.
Sanima GIC Insurance collected Rs 29.59 crore, Nepal Insurance Rs 17.25 crore, Prabhu Insurance Rs 15.39 crore, National Insurance Rs 11.25 crore and Rastriya Insurance Rs 8.63 crore. In the review period, the business of Nepal Insurance, Prabhu Insurance and Rastriya Insurance increased while Sanima GIC Insurance and National Insurance declined.
