Kathmandu. In the last one year, it seems that the non-life insurer has been moving aggressively to increase the manpower with the expansion of the branch office compared to the life insurer.
Nepal Insurance Authority (NIA) has released the current fiscal year 2082. This is according to the data for the first eight months of February. According to the data, 7 branches of the non-life insurance company have been added in the last one year. Previous fiscal year 2081. The number of branches of the non-life insurance company increased from 1,147 in February 2018 to 1,154 in the same period of the current fiscal year.
The branch office of Life Insurance Company has 1,845 branches. Last year, the number of branches of Life Insurance Company was the same.
As of mid-March of this year, the number of branch offices of life and non-life insurance companies has reached 2,999. It was 0.23 per cent higher than the same period last year. Last year, there were 2,992 branch offices.
Similarly, the total workforce of the insurers has reached 12,336 till mid-March of the current year. This number was 11,901 in the previous year. The number of employees increased by 1.99 percent in the review period compared to the previous year.
As of mid-March of the current fiscal year, there are 6,083 employees working in life insurance companies and 6,253 employees in non-life insurance companies. In the same period last year, there were 6,074 employees working in life insurance companies and 6,021 employees in non-life insurance companies. Compared to the previous year, the number of employees in life insurance companies and non-life insurers increased by 0.15 percent and 3.85 percent respectively.
