Access to insurance at 26.89 percent

Sep Sat 2021 03:01:34

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Access to insurance at 26.89 percent

Kathmandu. The Insurance Committee has made public the details of the insurance sector up to July 2078 BS. According to the report, 26.89 percent of the population in Nepal has access to insurance.

As per the details made public by the committee, 8 million 9 thousand 634 life insurance policies have been issued by mid-July 2078 BS. The number of insurance policies has increased by 13.43 percent compared to the previous fiscal year.

Similarly, the insurance policy of those going for foreign employment has decreased by 32.90 percent. As of mid-July 2078 BS, 577,410 foreign employment insurance policies have been issued. The insurance policy had issued 860,519 insurance policies by mid-July 2077 BS.

A statement issued by the Insurance Committee states that 858,744 foreign employment insurance (term) insurance policies and life insurance policies have been issued by mid-July 2078 BS. Similarly, insurance companies have collected life insurance premiums of Rs 166.10 million in the same period. That amount is 27.38 percent more than the previous month.

Similarly, non-life insurance companies have issued 241,837 insurance policies till mid-July 2078 BS. Non-life insurance companies have sold 0.17 percent more insurance policies than in mid-July.

Non-life insurance companies have raised 10.74 percent more by mid-July 2078. Non-life insurance companies have collected Rs 29.09 billion in premiums during the period.