Kathmandu. Life and non-life insurance companies have earned insurance premium of Rs. 116.88 billion in the first nine months of the current fiscal year. According to the Insurance Committee, Rs 93.86 billion has been collected for life insurance business and Rs 23.2 billion for non-life insurance.

Apart from Rastriya Bima, 19 non-life insurance companies have also collected Rs 23.2 billion by increasing the total premium by 18 percent. As of April of the last fiscal year, the total premium earned was only Rs.

Maintaining its lead, Nepal Life alone has earned more than Rs 25.38 billion in premiums. This is 27.04 percent of the total premiums earned by life insurance companies. The company had earned a total premium of Rs 18.70 billion in the last fiscal year.

The biggest increase in insurance premiums is Reliance Life Insurance. During this period, Reliance Life's premium increased by 161.64 percent to Rs 1.91 billion. The company had earned only Rs 730 million in the same period last fiscal year.

Similarly, insurance premiums of Sanima Life, Gurans Life, Prabhu Life, IME Life, Jyoti Life and Citizen Life have increased by more than 100 percent.

The lowest increase was in Rastriya Bima Sansthan by 6.31 percent. The insurance premium of the corporation has increased from Rs 6.5 billion to Rs 6.91 billion.

Mahalakshmi Life Insurance has earned the lowest premium. The company has earned Rs 6.8 million in premiums during the period. This is only 0.72 percent of the total premiums collected by life insurance companies.

 Shikhar has earned Rs 2.96 billion in premiums till April / May of the current fiscal year. This is 12.86 percent of the total premiums earned by non-life insurance companies.

Shikhar Insurance had earned Rs 2.60 billion in premiums till April / May of the last fiscal year.

Similarly, Ajod Insurance has increased the total premium by 62 percent and United Insurance by 48.21 percent. Oriental Insurance has the lowest increase in premiums. During this period, Oriental's premium increased by 2.53 percent from Rs 790 million to Rs 810 million. 

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