In the Month of October, the First Insurance fee of 14 Life Insurance Companies is 2 Billion 380 Million

Kathmandu : Nepal Insurance Authority has published the details of 14 life insurance companies in the month of October of the current year. According to which, on the basis of the first insurance fee, Nepal Life is at the forefront, while the growth of IME Life is the highest.

In the month of October the 14 Insurance company has managed to earn 2 billion 384 million 227 thousand as first insurance premium. This amount is an increase of 4.59 percent compared to the same period last year. Last year, these insurance companies collected a total of 2 billion 279 million 600 thousand rupees for the first insurance fee.

According to statistics, Nepal Life is at the forefront by collecting the highest number of first insurance premiums. Nepal Life has earned 507 million 991 thousand rupees in first insurance fee in a month. The company’s first insurance fee income has increased by 23.69 percent. Similarly, in the second place, 26.33 percent increase and 350 million 800 thousand rupees first insurance fee has been collected. LIC Nepal is at the third position. The company has collected first insurance fee of Rs.186 million 800 thousand rupees.

While Suryajyoti Life has collected first insurance fee of Rs.180 million 700 thousand rupees, Citizen Life has collected Rs.142.6 million, Sanima Reliance has collected Rs.126.8 million, Asian Life has collected Rs.121.3 million, and IME Life has collected first insurance fee of Rs.120.4 million.

Similarly, Reliable Nepal Life collected 109 million rupees, Sun Nepal Life 103.6 million rupees, Prabhu Mahalaxmi Life 90.8 million rupees and National Insurance Institute collected 48.5 million rupees as first insurance fee.

Based on the growth rate, IME Life has seen the best growth. IME Life has achieved an increase of 35.65 percent compared to October last year. Although the statistics shows 55.58 percent of the National Insurance Institute, the business is extremely low and the amount collected from the insured was not entered in the account at the right time last year, so it cannot be considered as the best growth.

Similarly, National Life has the second best growth. This company has achieved a growth of 26 percent compared to last year. Nepal Life has seen an increase of 23 percent.