First Year Premium Income (FPI) of Life Insurers at Rs. 9.79 Billion in 4 Months
December 2, 2024 | Investopaper
In the first four months (Shrawan-Karthik) of the current fiscal year 2081/82, the 14 life insurance companies operating in Nepal have earned Rs.9.79 billion as first year premium income (FPI). This is the premium income from new business this year. It doesn’t include the renewable premium income i.e. premium income from insurance policies of previous years.
Note: The first premium income doesn’t include the premium related to foreign employment.
Nepal Life Insurance Company has earned the highest first year premium income of Rs. 254.43 crores. National Life Insurance Company is on the second spot with FPI of Rs. 147.35 crores while LIC Nepal has FPI income of Rs. 74.20 crores. On the other hand, Sun Nepal Life Insurance has the lowest FPI income of Rs. 26.81 crores.
The table below presents the first year premium collection of life insurers in the first four months (Shrawan-Karthik) of the current fiscal year 2081/82.
First Year Premium Income (FPI) Of Life Insurers- FY 2081/82
First Premium Income (In Rs. ‘crores’)
| S.N | Life Insurance Companies In Nepal | First Premium Income (In Rs. ‘crores’) |
| 1 | Nepal Life Insurance Co. Ltd. | 254.43 |
| 2 | National Life Insurance Co. Ltd. | 147.35 |
| 3 | LIC Nepal Ltd. | 74.2 |
| 4 | Himalayan Life Insurance Ltd. | 74.16 |
| 5 | Surya Jyoti Life Insurance Co. Ltd. | 71.62 |
| 6 | Citizen Life Insurance Co. Ltd. | 55.25 |
| 7 | Asian Life Insurance Co. Ltd. | 46.45 |
| 8 | Sanima Reliance Life Insurance Ltd. | 45.07 |
| 9 | Met Life Alico Co. Ltd. | 41.13 |
| 10 | Reliable Nepal Life Insurance Co. Ltd. | 38.62 |
| 11 | Rastriya Jeevan Beema Company Ltd. | 38.44 |
| 12 | Prabhu Mahalaxmi Life Insurance Ltd. | 34.32 |
| 13 | IME Life Insurance Co. Ltd. | 31.55 |
| 14 | Sun Nepal Life Insurance Co. Ltd. | 26.81 |
| Total | 979.46 |
Source: Nepal Insurance Authority
First Year Premium Income (FPI) Of Life Insurers- FY 2080/81
First Premium Income (In Rs. ‘billion’)
| S.N | Life Insurance Companies In Nepal | First Premium Income (In Rs. ‘billion’) |
| 1 | Nepal Life Insurance Co. Ltd. | 8.02 |
| 2 | National Life Insurance Co. Ltd. | 5.05 |
| 3 | LIC Nepal Ltd. | 2.6 |
| 4 | Himalayan Life Insurance Ltd. | 2.57 |
| 5 | Surya Jyoti Life Insurance Co. Ltd. | 2.53 |
| 6 | Citizen Life Insurance Co. Ltd. | 1.96 |
| 7 | Asian Life Insurance Co. Ltd. | 1.92 |
| 8 | Sanima Reliance Life Insurance Ltd. | 1.87 |
| 9 | IME Life Insurance Co. Ltd. | 1.6 |
| 10 | Sun Nepal Life Insurance Co. Ltd. | 1.56 |
| 11 | Reliable Nepal Life Insurance Co. Ltd. | 1.47 |
| 12 | Met Life Alico Co. Ltd. | 1.3 |
| 13 | Prabhu Mahalaxmi Life Insurance Ltd. | 1.08 |
| 14 | Rastriya Jeevan Beema Company Ltd. | 0.75 |
| Total | 34.34 |
Source: Nepal Insurance Authority
First Year Premium Income (FPI) Of Life Insurers- FY 2079/80
| S.N | Life Insurance Companies In Nepal | First Premium Income (In Rs. ‘billion’) |
| 1 | Nepal Life Insurance Co. Ltd. | 6.56 |
| 2 | National Life Insurance Co. Ltd. | 3.87 |
| 3 | Surya Jyoti Life Insurance Co. Ltd. | 2.71 |
| 4 | LIC Nepal Ltd. | 2.38 |
| 5 | Himalayan Life Insurance Ltd. | 2.28 |
| 6 | Citizen Life Insurance Co. Ltd. | 1.94 |
| 7 | Sanima Reliance Life Insurance Ltd. | 1.86 |
| 8 | Sun Nepal Life Insurance Co. Ltd. | 1.76 |
| 9 | Asian Life Insurance Co. Ltd. | 1.54 |
| 10 | Reliable Nepal Life Insurance Co. Ltd. | 1.5 |
| 11 | IME Life Insurance Co. Ltd. | 1.43 |
| 12 | Met Life Alico Co. Ltd. | 1.24 |
| 13 | Rastriya Beema Sansthan Ltd. | 0.95 |
| 14 | Prabhu Life Insurance Co. Ltd. | 0.66 |
| 15 | Mahalaxmi Life Insurance Co. Ltd. | 0.49 |
| Total | 31.23 |
Source: Nepal Insurance Authority
First Year Premium Income (FPI) Of Life Insurance Companies In Nepal [FY 2078/79]
| S.N | Life Insurance Companies In Nepal | First Year Premium (In Rs. Billion) |
| 1 | Nepal Life Insurance Co. Ltd. | 7.37 |
| 2 | National Life Insurance Co. Ltd. | 4.68 |
| 3 | LIC Nepal Ltd. | 3.11 |
| 4 | Citizen Life Insurance Co. Ltd. | 2.82 |
| 5 | Union Life Insurance Co. Ltd. | 2.51 |
| 6 | Reliable Nepal Life Insurance Co. Ltd. | 2.4 |
| 7 | Asian Life Insurance Co. Ltd. | 2.14 |
| 8 | Surya Life Insurance Co. Ltd. | 1.99 |
| 9 | Sun Nepal Life Insurance Co. Ltd. | 1.89 |
| 10 | Jyoti Life Insurance Co. Ltd. | 1.85 |
| 11 | IME Life Insurance Co. Ltd. | 1.54 |
| 12 | Met Life Alico Co. Ltd. | 1.46 |
| 13 | Prabhu Life Insurance Co. Ltd. | 1.44 |
| 14 | Reliance Life Insurance Co. Ltd. | 1.41 |
| 15 | Prime Life Insurance Co. Ltd. | 1.27 |
| 16 | Sanima Life Insurance Co. Ltd. | 1.01 |
| 17 | Rastriya Beema Sansthan Ltd. | 0.96 |
| 18 | Mahalaxmi Life Insurance Co. Ltd. | 0.85 |
| 19 | Gurans Life Insurance Co. Ltd. | 0.64 |
| Total First Year Premium Income | 41.44 |
Source: Beema Samiti
Recommended:
I think it would be better to present the comparative information within the same table, and please use consistent rounding figures. Although they have been mentioned, but it would be better to have the information presented in similar level