August 13, 2023 | Investopaper
In the last fiscal year 2079/80, the 10 life insurance companies have issued a total of 16,29,575 foreign employment insurance policies. From selling these insurance policies, the companies have accumulated a total of Rs. 3.21 billion as premium income.
Among the leading life insurance companies, Sun Nepal Life Insurance Co. Ltd. has emerged as a frontrunner, amassing an impressive foreign employment insurance premium income of Rs. 108.01 crores.
Following closely behind is Nepal Life Insurance Co. Ltd. with a premium income of Rs. 47.5 crores. IME Life Insurance Co. Ltd. and Surya Jyoti Life Insurance Co. Ltd. have also demonstrated substantial contributions, each securing premium incomes of Rs. 43.66 crores and Rs. 39.1 crores, respectively.
The table below presents the first year premium collection from Foreign Employment Insurance policies in the fiscal year 2079/80.
Foreign Employment Insurance Policies Of Life Insurers- FY 2079/80
|S.N||Life Insurance Companies In Nepal||Premium Income (In Rs. ‘Crores’)||Number Of Policies|
|1||Sun Nepal Life Insurance Co. Ltd.||108.01||746,925|
|2||Nepal Life Insurance Co. Ltd.||47.5||217,892|
|3||IME Life Insurance Co. Ltd.||43.66||109,635|
|4||Surya Jyoti Life Insurance Co. Ltd.||39.1||276,830|
|5||Sanima Reliance Life Insurance Ltd.||25.53||62,499|
|6||Citizen Life Insurance Co. Ltd.||19.9||126828|
|7||Reliable Nepal Life Insurance Co. Ltd.||19.15||41,842|
|8||National Life Insurance Co. Ltd.||14.72||35,046|
|9||Prabhu Life Insurance Co. Ltd.||2.34||4,904|
|10||Asian Life Insurance Co. Ltd.||1.92||7,174|
|11||LIC Nepal Ltd.||–||–|
|12||Himalayan Life Insurance Ltd.||–||–|
|13||Met Life Alico Co. Ltd.||–||–|
|14||Rastriya Beema Sansthan Ltd.||–||–|
|15||Mahalaxmi Life Insurance Co. Ltd.||–||–|
Source: Nepal Insurance Authority