Insurance companies are competing with each other to increase their premium collection. Through the fourth month of the fiscal year 2080/81, the life insurance companies collected a total premium of Rs 49.43 Arba, out of its 13,714,547 total active insurance policies.
As per the report published by Nepal Insurance Authority, Nepal Life Insurance Company Limited limited single-handedly collected Rs. 13.43 Arba, having an active number of insurance policies of 1,197,597 as of Kartik 2080.
Meanwhile, the most striking revelation comes from Reliable Nepal Life Insurance Co Ltd, which boasts the highest number of active insurance policies—3,253,225. However, the company generated only Rs. 1.21 Arba in premiums during the assessed period.
Coming towards the nonlife insurance sector, Sagarmatha Lumbini Insurance Company Ltd collected the highest premium worth Rs. 1.6 Arba. Likewise, Siddhartha Premier Insurance Limited which has 101,072 insurance policies collected a premium worth Rs. 1.33 Arba as its insurance premium.
The non-life insurance companies collected a total premium of Rs 12.73 Arba, out of its 888,874 total active insurance policies.