Insurance companies operating in Nepal have reported total premium of Rs.69.95 Arba till the end of Magh 2076. While the Life Insurance companies have posted total premium collection of Rs.54.03 Arba till the review period, Non-Life Insurance companies have collected premium worth Rs.15.92 Arba.
Among Life Insurance companies, Nepal Life Insurance Company (NLIC) stood ahead with premium collection worth Rs.16.11 Arba making up 29.82% of the total premium collection from life insurance companies. Similarly, among Non-Life Insurance companies Shikhar Insurance Company Limited (SICL) posted the highest premium collection worth Rs.2.01 Arba making up 12.63% of total premium collected by the sector.
NLIC, Life Insurance Company Nepal (LICN) and Rastriya Beema Sanstha (RBS) stood ahead in terms of premium collection while Sanima Life Insurance, Prabhu Life Insurance and Mahalaxmi Life Insurance posted the lowest premium collection.
Union Life Insurance Company, which is a relatively new company, was able to report premium collection higher than most companies, coming in the top five till the end of Magh 2076. The company collected premium worth Rs.2.88 Arba making up 5.33% of the total premium collection.
Among non-life insurance companies, SICL, Sagarmatha Insurance Company (SIC) and Neco Insurance Company (NIL) stood ahead in terms of premium collection by the end of Magh 2076. Similarly, the lowest premium collection was by United Insurance Company (UIC), General Insurance Company and Sanima Insurance Company; making up less than 3% of the total premium collection by the sector.