In the initial three months of the fiscal year 2080/81, concluding at the end of Ashwin, the non-life insurance sector in Nepal achieved remarkable success by accumulating a substantial premium of Rs. 10.44 Arba. This impressive growth is outlined in a recent comprehensive report released by the Nepal Insurance Authority. The robust performance of the insurance industry was fueled by a total of 6.81 lakh active insurance policies, collectively held by policyholders across a diverse range of segments.
Siddhartha Premier Insurance emerged as a prominent leader in this sector, boasting an impressive count of 79,696 active policies. Following closely, Neco Insurance secured a commendable position with 75,916 active policies in force. In contrast, National Insurance exhibited a more modest presence with 9,731 active insurance policies.
In terms of the total charges generated through insurance, Sagarmatha Lumbini Insurance established itself as a front-runner, accumulating insurance charges amounting to Rs. 1.31 Arba. Siddhartha Premier Insurance, while not leading in terms of charges, maintained a substantial presence with total charges reaching Rs. 1.06 Arba. Shikhar Insurance Limited also made a substantial contribution, recording insurance charges of Rs. 1.04 Arba.
Highlights:
- Shikhar Insurance Leads Non-Life Insurance Premium Collection with Rs. 36.19 Arba in Jestha
- NEPSE Index Falls by 26.07 Points, Closes at 2,597.49
- Till the eighth month of FY 79/80, life insurance companies collected an impressive premium of Rs. 93.75 Arba.
- Sanima Reliance Life Insurance’s Q2 Net Profit Surges 96.48%; Life Insurance Fund at Rs. 12.69 Cr
- NEPSE Records Double-Digit Gain, Led by Non-Life Insurance Sector – March 7, 2024