Life Insurance Companies provide Loan of Rs 25.61 Bn against Policies

Feb 24, 2019 Merolagani

In the second quarter of the current FY, the life insurance companies have extended loan of Rs 25.61 billion against insurance policies. Out of 19 listed life insurance companies, new companies including Prabhu, Reliable, Reliance, Sanima, Jyoti and Mahalaxmi have not issued such loan.

Out of the loan giver companies, Nepal Life Insurance has issued the highest loan against policies of Rs 10.10 billion while Citizens Life issued the lowest loan of Rs 5.7 million in the second quarter.

Similarly, Nepal Life also tops the list of highest earner in terms of income from loan against insurance policies. Nepal Life earned Rs 499.4 million through such loans while Citizens Life earned the least i.e. Rs 140,000 in the Q2.

comments powered by Disqus

NIC Asia Bank’s Net Profit Declines by 52.31%

Apr 19, 2024 07:20 AM

NIC Asia Bank  (NICA) has published its third quarter report of the current FY. As per the report, the bank’s net profit has declined during the period.

Gold Price Breaks Previous Record

Apr 19, 2024 11:12 AM

Value of USD Hits New Record

Apr 19, 2024 11:32 AM