Insurance companies are competing with each other to increase their premium collection. Through the first month of the fiscal year 2080/81, the life insurance companies collected a total premium of Rs 19.60 Arba, out of its 832,759 total active insurance policies.
As per the report published by Beema Samiti, Nepal Life Insurance Company Limited limited single-handedly collected Rs. 5.22 Arba, having an active number of insurance policies of 20,270 as of Shrawan 2080.
Coming towards the nonlife insurance sector, Sagarmatha Lumbini Insurance Company Ltd collected the highest premium worth Rs. 55.25 Crores. Likewise, Siddhartha Premier Insurance Limited which has 27,184 insurance policies collected a premium worth Rs. 42.50 Crores as its insurance premium.
The non-life insurance companies collected a total premium of Rs 3.98 Arba, out of its 213,803 total active insurance policies.