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

Insurance companies are competing with each other to increase their premium collection. Till the two months of the fiscal year 2082/83, i.e., Bhadra end, the life insurance companies collected a total premium of Rs 35.24 Arba, out of their 11,450,477 total active insurance policies.

As per the report published by Nepal Insurance Authority, Nepal Life Insurance Company Limited limited single-handedly collected Rs. 9.68 Arba, having an active number of insurance policies of 1,642,239 as of Bhadra 2081.

Meanwhile, the most striking revelation comes from Reliable Nepal Life Insurance Co Ltd, which boasts the highest number of active insurance policies—2,436,828. However, the company generated only Rs. 1.01 Arba in premiums during the assessed period.

Coming towards the non-life insurance sector, Sagarmatha Lumbini Insurance Company collected the highest premium worth Rs. 89.44 Crores. Likewise, Shikhar Insurance Limited, which has 50,550 insurance policies, collected a premium worth Rs. 84.82 Crores as its insurance premium.  

The non-life insurance companies collected a total premium of Rs 8.12 Arba out of its 432,114 total active insurance policies.