Kathmandu. The Nepal Insurance Authority (INSURANCE) has started publishing the monthly statistics edition of Insurance Reflection with an analysis of the main statistics of the insurance sector. The analytical data version has been started monthly after studying the financial condition of insurance companies, insurance access, insurance claims, claim settlement, number of insurance policies, collection of insurance fees and other key indicators in the insurance sector.
Chairman of Nepal Insurance Authority Sharad Ojha said that the analytical data version of the insurance sector has been started on a monthly basis with the expectation of preparing the basis for transparency, accountability and policy formulation of the insurance sector.
Chairman Ojha expressed the belief that the analytical data version of the insurance sector would provide comprehensive information about the insurance sector to the insurers, policy makers, researchers and the general public and its regular publication would also help in identifying the progress made in the insurance sector, existing challenges and policy needs.
The monthly statistics edition of the current fiscal year includes the number of insurance policies issued during this period, collection of insurance fees, claim payment details, dedication and expenditure details, number of branch offices and employees of the insurer, investment statement of the insurer, total number of insurance, collection of insurance fees and solvency ratio.
Similarly, the main achievements, including the works carried out by the Nepal Insurance Authority in mid-March of the current fiscal year, have been included in the analytical statistics version of the insurance sector. According to this, regulatory activities, registration and disposal of claim complaints, on-site inspection of insurers, anti-money laundering works and approval of insurance policies have been included in the analytical version.
