Life Insurance Companies has Collected 18.5 Billion Rupees as Total First Premium Income
Kathmandu: Life insurance companies have success to collect 18.5 billion Rupees as Total First Premium Income in eight months of the current fiscal year.
According to provide data of Nepal Insurance Authority, the 14 life insurance companies that are currently success to collect and earned total the first premium fee of 18 billion 660 million Rupees in the eight months of the current fiscal year.
Out of 14 life insurance companies, millions of business has fallen in the period of eight months. Only 6 companies have turnover in billions. Among them Nepal Life, National Life, Himalayan Life, LIC Nepal, SuryaJyoti Life, Citizen Life and Asian Life has earned among the billion Rupees by the companies.
Nepal Life has always been in the forefront in earning the first insurance premium fees. The company has managed to earn 4 billion 240 million Rupees in first insurance fee by the month of Falgun, 2080 B.S.
National Life Insurance is in the second as the company has success to earn 2 billion 650 million Rupees as first insurance premium fee till this period.
Himalayan Life is in the third as the company has earned 1 billion 390 million Rupees as first insurance premium during this period.
LIC Nepal is in the fourth as the company has earned 1 billion 350 million Rupees as first insurance fee by the end of Falgun month.
Similarly, SuryaJyoti Life earned 1.34 billion Rupees, Citizen Life 1.09 billion Rupees and Asian Life earned 1.04 billion Rupees as first premium fee.
These 6 companies seem to insist on introducing new business. After the economic recession, the business of insurance companies has not seen any momentum whereas Half a dozen companies seem to have emphasized their business expansion during this period as well.
Companies doing business in Millions
Eight companies have managed to collect first premium fees in Millions during eight months. Sanima, IME Life, Sun Nepal Life, Reliable Nepal Life, Met Life, Prabhu Mahalaxmi Life and Government Owned Rastriya Beema Company Limited are the companies that success to doing insurance business in Millions.
Sanima Reliance Life has collected 988.7 million Rupees, IME Life has collected 870 million Rupees, Sun Nepal Life 870 million Rupees, Reliable Nepal Life 850 million Rupees, MetLife 820 million Rupees, Prabhu Mahalaxmi Life has collected 530 million Rupees and the Government-owned Rastriya Jeevan Beema Company Limited has success to collect 390 million Rupees as First period Insurance Premium Fees within the 8 months.