Non-Life Insurance Companies Earn Rs 3.75 Billion in Falgun
Kathmandu – Non-life insurance companies in Nepal earned a total insurance premium of Rs 3.75 billion 47 million in the month of Falgun (mid-February to mid-March), reflecting a 2.92 percent increase compared to the same month last fiscal year. According to the financial statements for Falgun published by the Nepal Insurance Authority, non-life insurance companies had earned Rs 3.64 billion 83 million in Falgun month of the previous fiscal year. During this period, the business of nine companies increased while five companies reported a decline.
Shikhar Insurance recorded the highest premium income, earning Rs 881.8 million — a 7.15 percent rise from the previous month. Sagarmatha Lumbini Insurance ranked second, with a premium income of Rs 386.8 million. Himalayan Everest Insurance and The Oriental Insurance showed the highest business growth in. Himalayan Everest increased its revenue by 31.03 percent to Rs 288.7 million, while The Oriental saw a 47.44 percent rise, reaching Rs 178.3 million.
IGI Insurance’s premium income decreased by 3.76 percent to Rs 349.1 million, while Siddhartha Premier Insurance’s income increased by 5.25 percent to Rs 306.5 million. Neco Insurance’s revenue fell slightly by 0.15 percent to Rs 244.6 million, whereas NLG Insurance posted a strong growth of 28.58 percent, reaching Rs 237.5 million. United Ajod Insurance’s income dropped by 11.85 percent to Rs 197.1 million, while Sanima GIC Insurance’s revenue dropped by 12.44 percent to Rs 185.7 million. Rastriya Beema Company reported the largest decline, with a 46.86 percent drop to Rs 153.3 million. In contrast, Nepal Insurance’s income rose by 18.05 percent to Rs 142.8 million, Prabhu Insurance grew by 11.88 percent to Rs 130.7 million, and National Insurance increased by 6.57 percent to Rs 71.3 million.
Shikhar Insurance’s business increased by 24.95 percent to Rs 292 million in the month of Falgun. Neco Insurance reported a 16.49 percent increase to Rs 255.1 million, while IGI Prudential’s income rose by 0.77 percent to Rs 233.9 million. Himalayan Everest saw a 24.70 percent rise to Rs 231 million, and Sanima GIC posted the highest growth of 62.25 percent, reaching Rs 193 million. NLG Insurance’s business grew by 18.06 percent to Rs 189.7 million. Nepal Insurance’s earnings increased by 42.46 percent to Rs 172.3 million, Prabhu Insurance’s by 7.18 percent to Rs 153 million, and The Oriental’s by 42.22 percent to Rs 99 million. National Insurance’s business increased by 21 percent to Rs 72.7 million, while Rastriya Beema Company posted a 33 percent rise to Rs 41 million. Only United Ajod Insurance reported a decline during this period.