How Much Premium Non-Life Insurance Companies Collected In 10 Months of FY 2079/80?

According to a report released by the Insurance Authority, during the first ten months of the fiscal year 2079–80, the non-life insurance firms collected a total of Rs. 32.68 Arba in premiums out of their 23,50,652 total active insurance policies.

The largest premium was collected by Shikhar Insurance Company Limited from the non-life insurance sector, totaling Rs. 4.42 Arba. Similar to this, the recently merged 'Sagarmatha Lumbini Insurance Co Ltd', which has 284,730 insurance policies, received a premium of Rs. 3.73 Arba for its insurance up to Baisakh in FY 2079/80.

Likewise, Siddhartha Premier Insurance Limited has the highest number of insurance policies 290,590 with a premium worth Rs. 3.64Arba.

On the other hand, the IGI Prudential Insurance Company Ltd generated the least amount of premium i.e. Rs. 2.91 Crores, owing to its 1850 active insurance policies. IGIL and PICL commenced the joint transaction after the successful merger in the name of IGI Prudential Insurance Limited on Baisakh 27, 2080. 

Note:- Investors of all insurance companies should understand the quality of insurance policies is important rather than number of insurance policies. Moreover, these policies might include scheme such as foreign employment insurance policy which provides less net premium so some insurance companies do not prefer such policies. Hence, judging an insurance company based only on number of insurance policies would be absurd.