Life and Non-Life Insurance Sectors Report Varied Performance in Premium Collection Till Poush FY 2082/83

Insurance companies are competing with each other to increase their premium collection. Till the 6 months of the fiscal year 2082/83, i.e., Poush end, the life insurance companies collected a total premium of Rs 94.38 Arba, out of their 11,455,235 total active insurance policies.

As per the report published by Nepal Insurance Authority, Nepal Life Insurance Company Limited limited single-handedly collected Rs. 25.51 Arba, having an active number of insurance policies of 1,745,933 as of Poush 2082.

Meanwhile, the most striking revelation comes from Reliable Nepal Life Insurance Co Ltd, which boasts the highest number of active insurance policies 2,431,856. However, the company generated only Rs. 2.94 Arba in premiums during the assessed period.

Coming towards the non-life insurance sector, Shikhar Insurance Company collected the highest premium worth Rs. 2.77 arba. Likewise, Sagarmatha Lumbini Insurance Limited, which has 133,022 insurance policies, collected a premium worth Rs. 2.61 arba as its insurance premium.

The non-life insurance companies collected a total premium of Rs 23.67 Arba out of its 1,420,548 total active insurance policies.