The total premium income of life insurance companies increased by 12%, with growth rate of Sanima and Nepal Life leading the way
Kathmandu : Till the second quarter of the current financial year, the total premium income of 13 life insurance companies is 69.35 billion rupees. During the same period of the previous year, this amount of these life insurance companies was 61 billion 550 million rupees. During the review period, the total insurance fee income of life insurance companies has increased by 12.67 percent.
Nepal Life Insurance Company has earned the highest premium. The company has earned 20 billion 600 thousand insurance fee during the review period. Second, Life Insurance Corporation Nepal has earned a total insurance fee of 8 billion 663 million 100 thousand rupees.
Similarly, during the review period, National Life earned 8 billion 567 million rupees, Himalayan Life 8 billion 94 million rupees, Suryajyoti Life 4 billion 283 million rupees and Asian Life 3 billion 672 million rupees.
Similarly, Sanima Reliance Life Rs.2 billion 786 million, Citizen Life Rs.2 billion 736 miillion, Met Life Rs.2 billion 686, IME Life Rs.2 billion 108 Million, Prabhu Mahalaxmi Life Rs.2 billion 38 million, Reliable Nepal Life Rs.1 billion 932 million and Sun Nepal Life, the lowest total insurance fee is 1 billion 779 million rupees.
If we look at the growth rate of the current year compared to last year, it seems that Sanima is ahead of Reliance Life. The total insurance fee income of this company has increased by 136.07 percent. In second place, Prabhu Mahalaxmi has increased by 96.57 percent and Suryajyoti Life in third place by 59.73 percent.
Similarly, IME Life has increased by 12.33 percent, National Life by 11.46 percent, Asian Life by 9.57 percent, Himalayan by 8.51, Reliable Nepal by 8.17, Nepal Life by 7.37, Met Life by 7.34 and Citizen Life, which is the lowest and has increased by 2.70 percent.
It is seen that the total insurance fee earnings of two companies has decreased, in which Nepal Insurance Corporation has decreased by 0.76 percent and Sun Nepal Life by 9.43 percent.