Within one Month, the First Premium Fee earning of the life Insurance Companies has Increases by 11 Percent
Kathmandu: The 14 life insurance companies that are currently operating have increased their first Premium fee earnings by double digits within a month. According to the data published by the Nepal Insurance Authority, the first insurance premium income has increased by 11.41 percent in one month.
In the month of Falgun (mid of Feb-mid of March) alone, life insurance companies earned 2 billion 555 million 400 thousand Rupees as the first premium fee. In the last month of Magh, life insurance companies earned a total of 2 billion 293 million 800 thousand Rupees as the first insurance fee.
During this period, Nepal Life has maintained its lead in earning the highest number of first insurance premiums. The company earned first premium fee of 565.3 million Rupees only in the month of Falgun.
National Life, Himalayan Life, SuryaJyoti Life, LIC Nepal are ranked second, third, fourth and fifth respectively in earning the highest first Premium fee in the month of Falgun. National life has earned 502.2 million Rupees, Himalayan Life’s 191.4 million, Suryajyoti’s 187.6 million and LIC has earned 154.5 million Rupees as first premium fee.
Also, in the month of Falgun alone, Asian Life has earned Rs.153.2 million, Citizen Life’s Rs.135.6 million, Sanima Reliance Life’s Rs.129.6 million, IME Life’s Rs.100 crores 83 lakhs, Reliance Nepal Life Rs.108.3 million, Sun Nepal Life’s Rs.107.9 million Rupees, Met Life’s Rs.101.3 million, Prabhu Mahalaxmi’s Rs.74.1 million and Rashtriya Jeevan Beema Company has earned 38.7 million Rupees as first premium fee.
3 Companies Premium fee has Decreased
Compared to the month of Magh, the first premium fee earnings of 3 life insurance companies has decreased in the month of Falgun. During this period, Citizen Life has decreased by 14.67 percent. Also, Met Life’s and Sanima Reliance Life’s collection of first premium fees has been reduced by 13.45 and 10.73 percent respectively. 11 Companies Premium fee has Increased
During this period, in comparison with the earning of Premium fee of last month (Magh month), in this month of Falgun,11 life insurance companies have increased the collection of first premium fee.
The first premium fee collection of Nepal Life has increased by 7.13 percent, National Life’s by 37.31 percent, Himalayan Life’s by 29.07 percent, SuryJyoti Life’s by 0.40 percent, LIC Nepal’s by 2.14 percent, Asian Life’s by 43.54 percent and IME Life’s 14.10.
In the same way in comparison to the month of Magh, first premium fee income of Reliable Nepal has increased by 6.10 percent, sun Nepal life’s by 1.82 percent, Prabhu Mahalaxmi’s by 41.90 and Government-owned, Rastriya Jeevan Beema Company by 15.53 percent.