Tag: Magnificent

  • NEPSE Soars by 56.94 Points, Closes at 2,186.36; Microfinance Index Surges

    NEPSE Soars by 56.94 Points, Closes at 2,186.36; Microfinance Index Surges


     

    The NEPSE index had a positive day as it closed at 2,186.36, gaining 56.94 points compared to the previous trading day. This signifies a gain of 2.67%. Yesterday, the index had also gained 11.69 points. The trading session began at 2,132.61 and reached its lowest point at 2,132.48. However, it quickly rebounded and reached a high of 2,186.68 before settling at 2,186.36 at the end of the day.

    During the day, there were 275 scrips that were traded through 80,398 transactions. A total of 13,107,080 shares were exchanged, amounting to a turnover of Rs. 5.47 Arba. This turnover is higher than the previous trading day’s turnover of Rs. 5.31 Arba.

     

  • Life Insurance Companies in Nepal Compete to Increase Premium Collections

    Life Insurance Companies in Nepal Compete to Increase Premium Collections


    Insurance companies in Nepal are competing to increase their premium collections, the amount of money they receive from policyholders. During the first ten months of the fiscal year 2079/80, life insurance companies collected a total of Rs. 1.14 Kharba in premiums from their 1.38 crore active insurance policies.

    A report from the Nepal Insurance Authority revealed that Nepal Life Insurance Company Limited collected the highest premium amount of Rs. 29.65 Arba. They had 1,035,214 active insurance policies as of Baisakh 2080.

    On the other hand, Himalayan Life Insurance Limited collected the lowest premium amount of Rs. 15.11 Crores due to having only 595 active insurance policies. Himalayan Life Insurance was formed after merging Prime Life Insurance, Gurans Life Insurance, and Union Life Insurance, which is the largest merger in Nepal’s insurance sector.

    In another development, Sanima Life Insurance Company Limited and Reliance Life Insurance Company Limited completed their merger process with a swap ratio of 1:1. They have now combined to form ‘Sanima Reliance Life Insurance Company Limited’ since Chaitra 09.

    Among the insurance companies, Reliable Nepal Life Insurance Co. Ltd. has the highest number of active insurance policies, with 34,77,018 clients as of Baisakh 79/80. However, their premium collection amounted to only Rs. 3 Arba.