Non-Life Insurance Premiums Reach Rs 3.8 Billion In Mangsir, Showing Moderate Growth

Kathmandu – Non-life insurance companies in Nepal earned a total premium income of Rs 3.8 billion in Mangsir, marking a 3.01 percent increase compared to the same month last year. The data, published by the Nepal nsurance Authority, revealed a steady growth despite some mixed results across individual companies.

Sagarmatha Lumbini Insurance emerged as the top performer, earning Rs 423 million in premiums, a 7.28 percent increase from last year. Shikhar Insurance followed closely, reporting Rs 332.2 million in premiums, reflecting a 9.28 percent rise from the previous year. IGI Prudential also showed strong results, with an 11.45 percent increase to Rs 320.3 million.

However, several companies faced declines. Siddhartha Premier Insurance saw a drop of 3.83 percent, earning Rs 300.59 million, while Neco Insurance and Himalayan Everest Insurance both reported decreases of 8.22 percent and 4.10 percent, respectively. Sanima GIC Insurance experienced a significant decline of 13.39 percent, earning Rs 218.1 million.

On a positive note, The Oriental Insurance saw an impressive 44.45 percent increase, reaching Rs 198.2 million, and NLG Insurance grew by 4.70 percent, earning Rs 188.6 million.

Other insurers also had mixed results. Nepal Insurance recorded a 28.31 percent increase to Rs 157.8 million, while Prabhu Insurance grew by 2.95 percent to around Rs 140 million. Rastriya Beema Company saw a strong performance with a 38.34 percent rise, earning Rs 56.1 million.

In contrast, United Ajod Insurance reported an 8.65 percent decline to Rs 185.3 million, and National Insurance’s premiums dropped by 33.81 percent to Rs 53.1 million.