Non-life Insurance Companies’ Earning Exceeds Rs 26 Bn in 8 Mths

Apr 03, 2024 11:15 AM Merolagani

In the last eight months of the current FY, non-life insurance companies have earned Rs 26.26 billion in premiums.

As per the data published by Nepal Insurance Authority, 14 non-life insurance and 3 micro non-life insurance company earned premium of Rs 26.26 billion during the period. The premium earning increased by nearly 30 percent compared to the corresponding period of the last FY.

Out of all companies, Shikhar Insurance earned the highest premium of Rs 3.71 billion followed by Sagarmatha Lumbini Insurance and Siddhartha Premium Insurance.

Meanwhile, the companies earned most of their premium from Bagmati Province. Out of a total Rs 26.26 billion, Bagmati Province contributed Rs 17.25 billion. After Bagmati Lumbini Province contributed 9.15 percent and Koshi Province contributed 8.85 percent in total earnings.

During the period, non-life insurance companies earned the highest premium through vehicle insurance. Vehicle insurance contributed 31.14 percent in total earning followed by property insurance and engineering insurance.

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