Kathmandu. Four life insurance companies and two non-life insurance companies have applied to the Insurance Committee to run insurance business. Among them, Uni Life Insurance, Muktinath Life Insurance, Standard Life Insurance and Shubh Life Insurance have registered applications with the Insurance Committee.

Uni Life was previously on the list of 10 life insurance companies licensed to operate insurance business. The Binod Chaudhary Group has been lobbying with the government internally for the establishment of Standard Life.

Two non-life insurance companies, Annapurna Insurance and Abhiyan Insurance Company, have registered with the committee for licenses. The campaign is being promoted by the group of Mr. Karki, the outgoing acting executive director of the Insurance Committee.

Currently, there are 19 life insurance companies and 20 non-life insurance companies operating in the market. Even though the insurance market is small, there is unhealthy competition when there are many companies, say insurance professionals.