Life and Non-Life Insurance Sectors Unveil Premium Collection Till Ashad FY 2080/81; NLIC and SICL Lead Their Sectors

Insurance companies are competing with each other to increase their premium collection. Through the end of the fiscal year 2080/81, the life insurance companies collected a total premium of Rs 1.56 Kharba, out of its 13,774,635 total active insurance policies.

As per the report published by Nepal Insurance Authority, Nepal Life Insurance Company Limited limited single-handedly collected Rs. 40.85 Arba, having an active number of insurance policies of 14,67,128 as of Ashad 2081.

Meanwhile, the most striking revelation comes from Reliable Nepal Life Insurance Co Ltd, which boasts the highest number of active insurance policies—2,834,369. However, the company generated only Rs. 4.2 Arba in premiums during the assessed period.

Coming towards the nonlife insurance sector, Shikhar Insurance Company Ltd collected the highest premium worth Rs. 5.47 Arba. Likewise, Sagarmatha Lumbini Insurance Limited which has 286,367 insurance policies collected a premium worth Rs. 4.78 Arba as its insurance premium.

The non-life insurance companies collected a total premium of Rs 41.17 Arba, out of its 3,114,254 total active insurance policies.