KATHMANDU, Nov 5: In the first quarter of the current fiscal year 2024/25, policyholders have surrendered insurance policies worth a total of Rs 3.8246 billion.
According to Nepal Insurance Authority, 14 life insurance companies have reported a total of 28,057 policies being surrendered by their insured clients.
Among the companies, Life Insurance Corporation saw 7,731 policies worth Rs 1.22 billion being surrendered. Meanwhile, Nepal Life Insurance experienced 6,546 policy surrenders totaling Rs 1.80 billion.
Despite these surrenders, the companies have collectively earned Rs 7.06 billion in first-year insurance premiums.