Kathmandu. Non-life insurers in the current fiscal year 2082. In the third quarter of 2018, the company has been able to do business of more than Rs 36.58 billion.
As per the data released by the Nepal Insurance Authority (NEA), 14 non-life insurance companies have earned Rs 36.58 billion in insurance premium by issuing 2,209,986 policies. Previous fiscal year 2081. The companies had issued 2,135,233 policies and earned Rs 32.12 billion in total insurance premiums till mid-April 2018. The company’s turnover increased by 13.86 percent in the review period compared to the previous year.
The business of all 14 insurers has increased in April this year compared to the previous year. NLG Insurance is ahead in terms of business growth, while Shikhar Insurance has brought the highest business till March.
Shikhar Insurance has earned Rs 4.80 billion in insurance premiums till mid-April of the current FY. The company had earned Rs 4.34 billion in total insurance premiums in the same period last year. The company’s turnover increased by 10.48 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 3.83 billion in total insurance premium till mid-April of the current FY. The company had earned Rs 3.73 billion in insurance premiums in the previous year. The company’s turnover increased by 2.49 percent in the previous year.
Similarly, Himalayan Everest Insurance is the third largest businessholder in the market. The company has earned Rs 3.74 billion in total insurance premiums till mid-April of the current fiscal year. The company had earned Rs 2.78 billion in total insurance premiums in the same period last year. The company’s business has increased by 34.37 percent till mid-April this year compared to the previous year.
Similarly, IGI Prudential Insurance has collected Rs 2.12 billion in insurance premiums, Rs 1.19 billion, NLG Insurance Rs 2.19 billion, Neco Insurance Rs 2.72 billion and United Ajod Insurance Rs 2.11 billion. Siddhartha Premier Insurance, IGI Prudential Insurance Ltd, NLG Insurance Ltd (41.04 per cent), Neco Insurance (10.41 per cent) and United Ajod Insurance (38.26 per cent) increased in the review period.
Similarly, Sagarmatha Insurance has collected Rs 2.42 billion in insurance premiums, Sanima GIG Insurance Rs 2.8 billion, Nepal Insurance Rs 1.66 billion, Prabhu Insurance Rs 1.89 billion, Rastriya Insurance Rs 1.14 billion and National Insurance Rs 98.12 billion. In the review period, the business of Oriental Insurance Company increased by 12.63 percent, Sanima GIC Insurance by 8.33 percent, Nepal Insurance by 7.05 percent, Prabhu Insurance by 4.48 percent, Rastriya Insurance by 1.51 percent and National Insurance by 11.57 percent.
