The total business of 14 non-life insurance companies in Nepal reached Rs 24.27 billion in the first seven months of the current fiscal year. This is 7.80 percent more than the same period last year when the total business stood at Rs 22.51 billion.

According to the data released by the Nepal Insurance Authority (NIA), most insurance companies saw an increase in their business.

Shikhar Insurance collected the highest amount in insurance premiums, earning over Rs 3.13 billion during this period. This is 8.16 percent more than last year when it collected Rs 2.89 billion.

Sagarmatha Lumbini Insurance was the second-largest earner, collecting Rs 2.93 billion in premiums.

While the business of most insurance companies grew, four of them saw a decline in premium collection. Nepal Insurance Company recorded the highest growth in percentage terms, with its premiums increasing by 44.16 percent—rising from Rs 873.7 million last year to over Rs 1.25 billion this year.

Oriental Insurance had the second-highest growth, increasing its premium collection by 43.68 percent.