Non-Life Insurance Collect Rs 30.07 Billion In Premium In FY 2077/78

July 21, 2021 | Investopaper

In the last fiscal year 2077/78, the non-life insurance companies have generated Rs 30.07 billion in premium income. The premium amount belongs to non-life insurance companies other than the government-owned Rastriya Beema Company. Thus, until the Ashad end, 2078, 19 out of 20 non-life insurance companies have earned such premium income.

The non-life insurance companies have collected the insurance premium by insuring motor, fire, aviation, marine, agricultural and crop, engineering etc. 16 non-life insurance companies have collected more than Rs 1 billion in insurance premiums in the same period.

Premium Collection By Non-Life Insurance In Nepal

Shikhar Insurance Company has earned the most and Sanima General Insurance has earned the least premium until the Ashad end of the last fiscal year. Shikhar Insurance Company has earned Rs 3.97 billion in insurance premiums in a period of one year.

Similarly, Sagarmatha Insurance has collected about Rs 2.65 billion in premium. Neco Insurance Company has earned the third highest premium with Rs 2.41 billion.

Siddhartha Insurance, which is in the fourth place, has earned Rs 2.32 billion in insurance premiums. In the same period, NLG Insurance collected Rs 2.08 billion as premium and is in the fifth position. Similarly, Premier Insurance has earned Rs 1.90 billion while IME General Insurance has collected premium of Rs 1.52 billion.

Likewise, Lumbini General Insurance Insurance is in the tenth position with Rs 1.36 billion premium while Prabhu Insurance Company has earned a premium of Rs 1.35 billion.

Himalayan General Insurance has the premium collection of Rs 1.30 billion. Prudential Insurance, which is in the eleventh position, has earned Rs 1.28 billion as premium income.

Similarly, Nepal Insurance collected Rs 1.27 billion, Ajod Insurance Rs 1.27 billion and Oriental Insurance Rs 1.16 billion in the same period. Likewise, United and Everest Insurance have a premium collection Rs 1.05 billion and Rs 1.01 billion respectively.

3 Companies Below Rs 1 Billion In Premium

National Insurance earned the premium of Rs 870 million, General Insurance Rs 650 million and Sanima Insurance Rs 650 million in the last fiscal year.

Premium Collection Of Non Life Insurance Companies In Nepal

Total Premium Collection (In Rs. ‘Billion’)

S.N	Non-Life Insurance Companies In Nepal	FY 2077/78	FY 2076/77	Percent Change
1	Shikhar Insurance Company Limited	3.97	3.52	12.78
2	Sagarmatha Insurance Company Limited	2.65	2.19	21.00
3	Neco Insurance Company Limited	2.41	2.07	16.43
4	Siddhartha Insurance Company Limited	2.32	1.96	18.37
5	NLG Insurance Company Limited	2.08	1.73	20.23
6	Premier Insurance Company Limited	1.90	1.64	15.85
7	IME General Insurance Company Limited	1.52	1.36	11.76
8	Lumbini General Insurance Company Limited	1.36	1.21	12.40
9	Prabhu Insurance Company Limited	1.35	1.55	-12.90
10	Himalayan General Insurance Company Limited	1.30	1.37	-5.11
11	Prudential Insurance Company Limited	1.28	1.03	24.27
12	Nepal Insurance Company Limited	1.27	1.16	9.48
13	Ajod Insurance Company Limited	1.27	0.86	47.67
14	Oriental Insurance Company Limited	1.16	1.01	14.85
15	United Insurance Company Limited	1.05	0.66	59.09
16	Everest Insurance Company Limited	1.01	0.9	12.22
17	National Insurance Company Limited	0.87	0.76	14.47
18	General Insurance Company Limited	0.65	0.54	20.37
19	Sanima General Insurance Company Limited	0.65	0.35	85.71

	Total	30.07	25.87	16.24