Non-life insurance companies collect over Rs 7 billion in premiums

KATHMANDU, SEPTEMBER 26: In the first two months of the current fiscal year 2024/25, non-life insurance companies operating in Nepal have collected insurance premiums exceeding Rs 7 billion. During Shrawan (mid-July to mid-August) and Bhadra (mid-August to mid-September), these companies generated a total of Rs 7.74 billion in premiums through the sale of 428,068 insurance policies.

According to the Nepal Insurance Authority, non-life insurance companies collected Rs 3.48 billion in premiums in Bhadra alone, issuing 206,997 insurance policies.

The company that collected the highest amount of premiums in the said month was Sagarmatha Lumbini Insurance Company Limited, with collections totalling Rs 380.5 million. Siddhartha Premier Insurance Company closely followed, collecting Rs 360 million in premiums. Shikhar Insurance Company reported premium collections of Rs 354.6 million.

In Bhadra, Rastriya Beema Company generated Rs 290.7 million, while Himalayan Everest Insurance Company collected Rs 276.3 million. IGI Prudential Insurance Company reported Rs 273.9 million, and Neco Insurance Company collected Rs 270.1 million.

Additionally, NLG Insurance Company reported premium collections of Rs 231.8 million, Sanima GIC Insurance Company collected Rs 213.1 million, and United Ajoid Insurance Company achieved Rs 200.9 million. Prabhu Insurance Company collected Rs 188.7 million, while Nepal Insurance Company reported Rs 148.5 million.

Finally, Oriental Insurance Company recorded premium collections of Rs 152 million, and National Insurance Company collected Rs 144.9 million.