Kathmandu. Current Fiscal Year 2082. Life insurance companies have brought in a business of more than Rs 124.72 billion in the first nine months (July-March) of 83.
According to the data released by the Insurance Authority of Nepal today, 14 life insurers collected a total insurance premium of Rs 140.45 billion till April. Last year 2081. By March 2018, the companies had collected Rs 126.18 billion. The business of the companies has increased by 11.31 percent till the review period compared to the previous year.
Nepal Life has been the top importer in terms of business during the review period, while IME Life is ahead in terms of business growth. The business of all the companies has increased compared to the previous year.
Nepal Life has collected a total insurance premium of Rs 36.86 billion till April of the current fiscal year. In the same period of the previous year, the company had collected a total insurance premium of Rs 33.01 billion. The company’s business increased by 11.64 percent in the review period compared to the previous year.
Similarly, National Life is the second largest business-in-charge. The company collected a total insurance premium of Rs 17.07 billion till March. In the same period last year, the company had collected a total insurance premium of Rs 15.64 billion. The company’s business increased by 9.20 percent compared to the previous year.
Life Insurance Corporation (LIC Nepal) is in the third position in terms of attracting more business. The company had collected a total insurance premium of Rs 14.03 billion till April last year, which increased by 8.08 percent to Rs 15.17 billion during the review period.
Similarly, Himalayan Life Insurance has collected Rs 1.26 billion in insurance premiums, National Life Insurance Rs 9.11 billion, Surya Jyoti Life Insurance Rs 8.55 billion, Asian Life Insurance Rs 7.24 billion and Citizen Life Insurance Rs 6.06 billion. Himalayan Life Insurance has increased by 5.31 percent, National Life Insurance by 11.70 percent, Surya Jyoti Life Insurance by 11.67 percent, Asian Life Insurance by 12.11 percent and Citizen Life by 19.26 percent.
Similarly, Sanima Life Insurance has collected Rs 4.42 billion in insurance premiums, IME Life Insurance Rs 4.95 billion, Reliable Nepal Life Insurance Rs 4.44 billion, Prabhu Mahalaxmi Life Insurance Rs 4.19 billion and Sun Nepal Life Insurance Rs 3.17 billion. The business of all these companies has increased compared to the previous year.
