The amount is less by 15.24 percent compared to Rs 4.03 billion of the corresponding period of the last FY.
During the period, most of the companies reduced their commission expenditure. Only two companies logged an increase in such expenses.
Out of all companies, Rastriya Beema Sanstha logged the highest growth in agent commission by 38.02 percent amounting to Rs 66.8 million. In the review period of the last FY, the company had spent Rs 48.4 million in commission.
Similarly, National Life Insurance recorded 10.21 percent growth in commission. It spent Rs 418.5 million in commission compared to Rs 379.7 million of the last FY.
Meanwhile, Guran Life Insurance logged the highest cut in agent commission. It reduced the agent commission by 31.77 percent to Rs 66.7 million compared to Rs 97.7 million of the last FY.
