Non-life insurance companies collected 32 billion insurance fees

Jun Mon 2023 02:05:54

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Non-life insurance companies collected 32 billion insurance fees

Kathmandu. Currently operating non-life insurance companies have collected more than 32 billion rupees in insurance fees in ten months of the current financial year. The companies have collected insurance fees worth 32 billion 68 billion 96 lakh rupees till the end of May. This fee was collected by selling 23 lakh 50 thousand 652 insurance policies.

According to the Nepal Insurance Authority, non-life insurance companies have collected insurance fees worth 2.67 billion 47 lakh rupees in the month of Baisakh alone. During this period, these companies have sold 184 thousand 314 insurance policies.

Among the non-life insurance companies, Shikhar Insurance has been seen as the most successful. By the end of Baisakh, this company has earned insurance fees worth 4 billion 42 crore 69 lakh rupees. This fee has come from the sale of 2 lakh 24 thousand 268 insurance policies. Similarly, second is Sagarmatha Lumbini Insurance Company Limited (Salico). This company has collected insurance fee of 3.73 billion rupees by selling 2 lakh 84 thousand 730 insurance policies.

Similarly, Siddharth Premier Insurance Company, which is in the third position of collecting the highest insurance fee, has collected insurance fee of 3 billion 64 crore 96 lakh rupees. During this period, Neco Insurance has collected insurance fees worth 2 billion 450 million rupees and Himalayan Everest Insurance has collected 2 billion 49 million rupees.

According to the Insurance Authority, until the month of Baisakh of the current year, Rashtriya Insurance Company received 2 billion 251 million rupees, NLG Insurance Company 1 billion 988 million rupees, Sanima GIC Insurance Company 1 billion 825 million rupees and Azod Insurance Company 1 billion 71 million 26 million rupees. It is mentioned in the data of the Insurance Authority that Prabhu Insurance Company has collected Rs.

Among the non-life insurance business, National Insurance Company has been seen as the weakest. All the companies have done more than one billion business during this period and this company has collected 824.2 million insurance fees till the end of Baisakh. In addition, United Insurance has collected 1 billion 155 million rupees in insurance fees, while The Oriental Insurance Company has collected 1 billion 16 million 8 million rupees in insurance fees.

Prudential Insurance has collected 1 billion 1589 million rupees and IME General Insurance has collected 1 billion 51 million 46 million rupees. These two companies have merged with each other and have been doing integrated business under the name of IGI Prudential Insurance Company since 26th Baisakh. This company formed after the integrated business has collected insurance fees worth 291 lakh 82 thousand rupees