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

Insurance companies are competing with each other to increase their premium collection. Till the 11 months of the fiscal year 2082/83, i.e., Jestha end, the life insurance companies collected a total premium of Rs 1.73 kharba, out of their 11,737,298 total active insurance policies.

As per the report published by Nepal Insurance Authority, Nepal Life Insurance Company Limited limited single-handedly collected Rs. 46.16 Arba, having an active number of insurance policies of 1,941,796 as of Jestha 2083.

Meanwhile, the most striking revelation comes from Reliable Nepal Life Insurance Co. Ltd, which boasts the highest number of active insurance policies 2,429,983. However, the company generated only Rs. 5.41 Arba in premiums during the assessed period.

Coming towards the non-life insurance sector, Shikhar Insurance Company collected the highest premium worth Rs. 5.62 arba. Likewise, United Ajod Insurance Limited, which has  378,951 insurance policies, collected a premium worth Rs. 2.76 arba as its insurance premium.

The non-life insurance companies collected a total premium of Rs 44.38 Arba out of its 2,651,010 total active insurance policies.