Even in the ongoing pandemic, all life insurance companies and non-life insurance companies except Prabhu Insurance logged an increase in their premium earning.
Life Insurance Companies
The life insurance companies have increased their premium by 57.49 percent to Rs 98.89 billion in the review period compared to Rs 63.79 billion of the corresponding period of the last FY.
Under the life insurance companies, Nepal Life has continued its spree and has earned Rs 26.84 billion in total insurance premium. It is 27.14 percent of total premium recorded by life insurance companies.
However, Met Life insurance logged the highest growth of 198.63 percent in its premium earning. The company earned Rs 4.36 billion in premium which was Rs 1.46 billion in the review period of the last FY.
Meanwhile, Rastriya Beema Sansthan has the least growth of 19.67 percent in its premium earning. It earned Rs 7.18 billion premium compared to Rs 6 billion of the last FY.
Non-Life Insurance Companies
During the review period, apart from Rastriya Beema Company, 19 non-life insurance increased their total insurance premium by 19.86 percent to Rs 24.62 billion compared to Rs 20.54 billion of the review period of the last FY.
In the review period, Shikhar Insurance tops the list with a premium earning of Rs 3.19 billion. It is 12.96 percent of the total premium recorded by non-life insurance.
However, Sanima General Insurance logs the highest growth of 92.59 percent in its premium earning. It earned Rs 520 million in premium which was Rs 270 million in the review period of the last FY.
