Premium Collection of Non-Life Insurance Companies Nears 20Bn

Feb 03, 2023 11:44 AM Merolagani

The non-life insurance companies have collected a total insurance premium of nearly Rs 20 billion by the end of the second quarter of the current FY as per the data published by Nepal Insurance Authority.

The collection increased by 5.15 percent compared to Rs 19.09 billion of the corresponding period of the last FY.

Out of 18 non-life insurance, Shikhar Insurance logged the highest premium collection of Rs 2.65 billion which is 13.21 percent of the total premium collected. 

Neco Insurance comes second with Rs 1.54 billion in premium collection followed by Himalayan Everest with Rs 1.50 billion and Sagarmatha Insurance with Rs 1.49 billion in premium collection.

Meanwhile, National Insurance logged the lowest collection of Rs 494 million.

Moreover, Rastriya Beema Company logged the highest growth in premium collection. It increased its premium collection by 137.97 percent.

On the other hand, NLG Insurance increased its premium collection by the lowest percentage of 0.28 percent. 

Sox Companies Logs Decline in Premium Collection

In the mean time, six non life insurance companies including Prudential Insurance, Nepal Insurance, Sagarmatha, Premier, Neco and United Insurance logged a decrease in premium collection during the period.

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