जीवन बीमा कम्पनीको व्यापार १२.६२ प्रतिशतले वृद्धि, ११ महिनामै १ खर्ब ७३ अर्ब संकलनLife insurers' business grows 12.62 percent, premium collection tops Rs 173 billion in 11 months

KATHMANDU — Nepal's life insurance industry posted notable growth in the first 11 months of the current fiscal year. From the start of the year through the end of Jestha, the 14 companies in operation collected premiums worth Rs 173.5 billion, according to the Nepal Insurance Authority.

In the same period of the previous fiscal year, the figure stood at Rs 154 billion — making this a rise of 12.62 percent. Notably, every one of the 14 companies in the market recorded an increase in business over the year.

In terms of growth rate, IME Life led the pack. Its business expanded 30.79 percent to Rs 6.17 billion, up from Rs 4.72 billion a year earlier. Citizen Life followed with a 20 percent rise to Rs 7.59 billion, while Reliable Life grew 18.72 percent to Rs 5.41 billion.

Among the other insurers, Rastriya Jeevan Beema recorded growth of 17.93 percent, National Life 17.49 percent, Prabhu Mahalaxmi Life 14.88 percent, Sanima Reliance Life 12.56 percent and Nepal Life 12.53 percent.

By sheer volume of business, however, Nepal Life remained well ahead of the field, collecting Rs 46.16 billion on its own. It was followed by National Life with Rs 22.21 billion, Life Insurance Corporation (Nepal) with Rs 18.48 billion, Himalayan Life with Rs 15.79 billion, Rastriya Jeevan Beema with Rs 10.62 billion and Suryajyoti Life with Rs 10.52 billion.