Kathmandu. FY 2082. Life insurance companies have brought in more than Rs 200 billion in business in 83 years.
As per the data released by the Nepal Insurance Authority (NEA) today, 14 life insurance companies have earned a total premium of Rs 201.91 crore in the last fiscal year. Last year, 2081. In 2018, the companies had brought in Rs 177.90 billion. The company’s business increased by 12.43 percent in the review year compared to the previous year.
In the review year, Nepal Life Insurance has brought the highest number of business, while IME Life is ahead in terms of business growth. Compared to the previous year, the business of 13 companies has increased while the business of one company has decreased.
In the last FY, Nepal Life earned Rs 53.68 billion in insurance premiums. The company had collected Rs 47.79 billion in insurance premiums in the previous fiscal year. The company’s business increased by 12.34 percent in the review year compared to the previous year.
Similarly, National Life is the second largest businessman in the world. In the review period, the company earned a total insurance premium of Rs 24.68 billion. The company had collected Rs 22.22 billion in insurance premiums in the previous fiscal year. The company’s business increased by 11.06 percent compared to the previous year.
Life Insurance Corporation (LIC Nepal) is in the third position in terms of bringing in the largest business. In the review year, the company collected Rs 21.23 billion in total insurance premiums against Rs 19.92 billion in the previous year. The company’s turnover increased by 6.57 percent in the review year compared to the previous year.
Similarly, Nepal Life Insurance collected Rs 18.56 billion in insurance premiums, followed by Surya Jyoti Life Insurance Rs 12.90 billion, Asian Life Insurance Rs 10.43 billion and National Life Insurance Rs 9.64 billion. Similarly, Himalayan Life Insurance Company Ltd, Surya Jyoti Life Insurance Ltd and Asian Life Insurance Ltd saw a decline of 13.53 per cent and 2.19 per cent respectively.
Likewise, Citizen Life Insurance has collected Rs 9.16 billion in insurance premiums, Sanima Life Insurance Rs 7.99 billion, IME Life Insurance Rs 7.45 billion, Reliable Nepal Life Insurance Rs 6.82 billion, Prabhu Life Insurance Rs 6.42 billion, and Sun Nepal Life Insurance Rs 4.63 billion. There are. The business of all these companies has increased in the review year compared to the previous year. In terms of business growth, IME Life is leading by 37.96 percent.
