Non-life insurance businesses generated Rs 30.07 billion in premium income in fiscal year 2077/78. Other than the government-owned Rastriya Beema Company, the premium amount belongs to non-life insurance businesses. As a result, until the conclusion of Ashad in 2078, 19 out of 20 non-life insurance businesses generated such premium income.
Non-life insurance businesses have collected insurance premiums by insuring vehicles, fires, aircraft, maritime, agricultural and crop, engineering, and other risks. In the same time period, 16 non-life insurance companies collected more than Rs 1 billion in insurance premiums.
Non-Life Insurance Premium Collection in Nepal
Shikhar Insurance Company earned the greatest premiums, while Sanima General Insurance earned the least till the end of the fiscal year in Ashad. In one year, Shikhar Insurance Company earned Rs 3.97 billion in insurance premiums.
Sagarmatha Insurance, on the other hand, has collected approximately Rs 2.65 billion in premium. With Rs 2.41 billion, Neco Insurance Company got the third highest premium.
Siddhartha Insurance, which ranks fourth, has collected Rs 2.32 billion in insurance premiums. NLG Insurance, which is ranked sixth, collected Rs 2.08 billion in premiums over the same period. Similarly, Premier Insurance has earned Rs 1.90 billion in premiums, while IME General Insurance has received Rs 1.52 billion in premiums.
Similarly, Lumbini General Insurance Insurance is ranked tenth with a premium of Rs 1.36 billion, while Prabhu Insurance Company has a premium of Rs 1.35 billion.
Himalayan General Insurance has collected Rs 1.30 billion in premiums. Prudential Insurance, which is ranked ninth, earned Rs 1.28 billion in premium income.
In the same period, Nepal Insurance collected Rs 1.27 billion, Ajod Insurance Rs 1.27 billion, and Oriental Insurance Rs 1.16 billion. Similarly, United and Everest Insurance have collected Rs 1.05 billion and Rs 1.01 billion in premiums, respectively.
3 Companies Below Rs 1 Billion In Premium
In the previous fiscal year, National Insurance earned Rs 870 million in premiums, General Insurance Rs 650 million, and Sanima Insurance Rs 650 million.
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|