Nepal Life Insurance Collected Highest Premium Till Ashwin of FY 80/81; What is the Status of Other Life Insurance Companies?
Sun, Nov 5, 2023 11:27 PM on Company Analysis, Featured,
In the dynamic landscape of Nepal's insurance sector, a recent report by the Nepal Insurance Authority has revealed a substantial discrepancy between the number of customers insured and the corresponding premium collections among life insurance companies for the month of Ashwin in the fiscal year 2080/81.
During this period, the collective premium amassed by various life insurance companies amounted to an impressive Rs. 40.80 Arba, encompassing a total of 13,364,850 active insurance policies.
Nepal Life Insurance Company Limited emerged as a notable frontrunner, securing a substantial premium of Rs. 10.95 Arba. The company's success is underscored by its impressive count of 1,170,396 active insurance policies.
Conversely, Sun Nepal Life Insurance Company reported a relatively modest premium of Rs. 88.64 crores, despite maintaining a respectable count of 974,656 active insurance policies.
The most striking revelation comes from Reliable Nepal Life Insurance Co Ltd, which boasts the highest number of active insurance policies—3,299,632. However, the company generated only Rs. 1.01 Arba in premiums during the assessed period, showcasing a significant gap between customer base and premium collection.
