Non-Life Insurance Sector Achieves Premium Collection of Rs. 40.21 Arba Till Ashad, SICL Collects Highest Premium

In a remarkable culmination of the fiscal year 2079/80 i.e. Ashad end, Nepal's non-life insurance landscape witnessed an unprecedented achievement with a staggering premium collection of Rs. 40.21 Arba. According to a comprehensive report recently released by the Nepal Insurance Authority, the vibrant insurance ecosystem was driven by a total of 27.92 lakh active insurance policies, collectively held by policyholders across various segments.

Siddhartha Premier Insurance emerged as the front-runner with an impressive count of 338,955 active policies. Not far behind, Sagarmatha Lumbini Insurance secured a commendable position with 329,996 policies in force. Conversely, National Insurance Co. Ltd showcased a more modest presence, concluding the fiscal year with 33,911 active insurance policies.

In terms of total insurance charges, Shikhar Insurance Company Limited established a prominent lead, amassing insurance charges amounting to Rs. 5.31 Arba. Trailing closely, Sagarmatha Lumbini Insurance maintained a significant footing with charges totaling Rs. 4.58 Arba. Siddhartha Premier Insurance Limited also contributed substantively, recording insurance charges of Rs. 4.42 Arba.