Kathmandu. Non-life insurers in the current fiscal year 2082. In the first 11 months of the year, the company has managed to do business of more than Rs 44.38 billion.
According to the data released by the Nepal Insurance Authority (NEA) today, 14 non-life insurance companies have earned Rs 44.38 billion in insurance premium by issuing 26,51,010 policies. Previous fiscal year 2081. The companies had earned Rs 39.03 billion in total insurance premiums by issuing 2,587,315 policies till May 1989. The company’s turnover increased by 13.71 percent in the review period compared to the previous year.
The business of all 14 insurers has increased in May this year compared to the previous year. NLG Insurance is ahead in terms of business growth, while Shikhar Insurance has brought the most business till June.
Shikhar Insurance has earned a total insurance premium of Rs 5.62 billion in the current FY. The company had earned Rs 5.09 billion in insurance premiums in the previous fiscal year. The company’s turnover increased by 10.52 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 4.77 billion in total insurance premiums till mid-May of the current fiscal year. The company had earned Rs 4.50 billion in total insurance premiums in the previous year. The company’s business increased by 6 percent in the previous year.
Similarly, Himalaya Everest Insurance is the third largest businessholder in the market. The company has earned Rs 4.76 billion in total insurance premiums till mid-May of the current fiscal year. The company had earned Rs 3.51 billion in insurance premiums in the previous year. The company’s business has increased by 35.46 percent in mid-June compared to the previous year.
Likewise, Siddhartha Insurance collected Rs 2.92 billion in insurance premiums, IGI Prudential Insurance Rs 3.91 billion, NLG Insurance Rs 3.73 billion, Neco Insurance Rs 3.28 billion and Oriental Insurance Rs 2.80 billion. Likewise, Siddhartha Premier Insurance Ltd (0.29 per cent), IGI Prudential Insurance (15.28 per cent), NLG Insurance (36.02 per cent), Neco Insurance (11.14 per cent) and Oriental Insurance (15.54 per cent) increased in the review period.
Similarly, United Ajod Insurance collected Rs 2.76 billion in insurance premiums, Sanima GIG Insurance Rs 2.55 billion, Nepal Insurance Rs 1.97 billion, Prabhu Insurance Rs 1.64 billion, Rastriya Insurance Rs 1.42 billion, and National Insurance Rs 1.19 billion. In the review period, United Ajod Insurance Company increased by 14.37 percent, Sanima GIC Insurance by 8.25 percent, Nepal Insurance by 7.23 percent, Prabhu Insurance by 4.43 percent, Rastriya Insurance Company by 8.42 percent and National Insurance by 22.45 percent.
