Life Insurance Companies Collect a Magnificent Premium of Rs. 1.14 Kharba Till Ten Months of FY 79/80

In order to raise their premium collection, insurance companies are in competition with one another. Out of its 1.38 crore total active insurance policies, the life insurance companies collected a total of Rs. 1.14 Kharba in premiums during the first ten months of the fiscal year 2079/80.

According to a report published by the Nepal Insurance Authority, Nepal Life Insurance Company Limited solely collected Rs. 29.65 Arba with 1,035,214 active insurance policies as of Baisakh 2080.

Conversely, Himalayan Life Insurance Limited generated the least amount of premium i.e. Rs. 15.11 Crores, owing to its 595 active insurance policies. Himalayan Life Insurance was formed after the merger between then Prime Life Insurance, Gurans Life Insurance, and Union Life Insurance, which is the biggest merger in the insurance sector of Nepal.

Note: Sanima Life Insurance Company Limited and Reliance Life Insurance Company Limited completed the merger procedures with a swap ratio of 1:1 and commenced joint integration under the name 'Sanima Reliance Life Insurance Company Limited' from Chaitra 09.

Reliable Nepal Life Insurance Co. Ltd., on the other side, has the most active insurance policies, with 34,77,018 clients as of Baisakh 79/80. Although a large number of active subscribers, it was able to generate only Rs. 3 Arba as its premium amount.