Nepal Insurance Authority (NIA) implemented foreign employment insurance on January 15, 2019.
Apart from Rastriya Jivan Beema Company, Asian Life Insurance and Himalayan Life Insurance all other life insurance companies including Nepal Life, National Life, Life Insurance Corporation (LIC)Nepal, IME Life, Met Life, Reliable Nepal, SuryaJyoti Life, Sun Nepal Life, Citizen Life, Prabhu Life and Sanima Life provide foreign employment insurance.
Based on the data published by NIA, life insurance companies earned Rs 2.58 billion in premium in the last 10 months period. It means a life insurance company collects an average of Rs 1.75 million in premium monthly.
The data unveils that the companies issued 71,073 units foreign employment insurance policies. The companies earned Rs 207.1 million in premium in Baishakh only.
