Find which Non-life insurance company outperformed premium growth in FY 2072/73?
Sun, Oct 9, 2016 10:00 AM on Latest, Exclusive, Financial Analysis, Featured,
The main objective of insurance companies is to sell policies to general public and institutions. For an insurance company to do well they need to sell large number of policies and collect large amount of premium money.
Insurance premium or total Premium is the total amount that insurance company collects by selling its policy to the policy holders for expected future losses or future risk. Net premium is the sum of all types of insurance premiums which a company may collect throughout the whole duration of existing insurance policies minus the costs like agent`s commissions or payments made for reinsurance.
Let’s see which company premium growth is highest and whose growth is above industry.
From the above data we can see that there are 7 companies total premium collection is more than industry average and 8 companies premium collection is below the industry average. All companies excluding NICL (National Insurance Company Ltd.) have positive growth as compared to previous year. SICL (Shikhar Insurance Company Ltd.) has surpassed the level of premium collection by more than 2 arba with growth rate of 48.21%. PIC (Premier Insurance Company (Nepal) Ltd.), HGI (Himalayan General Insurance Company Ltd.), NLG (NLG Insurance Company Ltd.), SIL (Siddartha Insurance Ltd.) and SIC (Sagarmatha Insurance Company Ltd.) are the companies having more than 1 arba of total premium collected in year FY 2072/73.
The above table shows the net premium collection in the FY 2072/73 in comparison with FY 2071/72. From the above data we can conclude that 7 companies have outperformed the market and 8 companies net premium growth is below industry average. SICL (Shikhar Insurance Company Ltd.) is the only company having net premium more than 1 arba with growth rate of 59.86%. NICL (Nepal Insurance Company Ltd.) shows negative growth as compared to last year. The net premium collected in year 2072/73 is at Rs 6.45 Crore which is 29.83% more as compared to last year’s corresponding quarter.
From the above data we can see that there are 7 companies total premium collection is more than industry average and 8 companies premium collection is below the industry average. All companies excluding NICL (National Insurance Company Ltd.) have positive growth as compared to previous year. SICL (Shikhar Insurance Company Ltd.) has surpassed the level of premium collection by more than 2 arba with growth rate of 48.21%. PIC (Premier Insurance Company (Nepal) Ltd.), HGI (Himalayan General Insurance Company Ltd.), NLG (NLG Insurance Company Ltd.), SIL (Siddartha Insurance Ltd.) and SIC (Sagarmatha Insurance Company Ltd.) are the companies having more than 1 arba of total premium collected in year FY 2072/73.
The above table shows the net premium collection in the FY 2072/73 in comparison with FY 2071/72. From the above data we can conclude that 7 companies have outperformed the market and 8 companies net premium growth is below industry average. SICL (Shikhar Insurance Company Ltd.) is the only company having net premium more than 1 arba with growth rate of 59.86%. NICL (Nepal Insurance Company Ltd.) shows negative growth as compared to last year. The net premium collected in year 2072/73 is at Rs 6.45 Crore which is 29.83% more as compared to last year’s corresponding quarter.
