Life Insurance Companies Collect 51.5% Premium from Bagmati Province Only

Sep 03, 2023 01:59 PM Merolagani

Life insurance companies have earned nearly Rs  19.60 billion in total insurance premium by the month of Shrawan of the current FY as per the data provided by Nepal Insurance Authority.

15 life insurance companies operating in the country issued 13,388,986 unit policies to earn that much of premium during the period.

Out of the total earning Bagmati Province covered half the business. The companies collected Rs 10.10 billion i.e. 51.55 percent by issuing 9,972,249 units policies from the province only.

Meanwhile, the companies collected the least premium from Karnali Province with issuance of 167,644 units policies and collection of Rs 502.7 million in premium.

Out of all life insurance schemes, apparently, endowment life insurance has huge attraction among the general public.

During the period, life insurance companies issued 2,027,856 units endowment life insurance policies and earned Rs 9.24 billion in premium. It is 47.14 percent of total premium collected by the companies.


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