Kathmandu. In the first four months of the current fiscal year, non-life insurers have been able to bring in business of around Rs 16.25 billion.
As per the data released by the Nepal Insurance Authority, 14 non-life insurance companies and four micro insurance companies have collected Rs 16.21 billion in insurance premiums till mid-November. Out of this, 14 non-life insurers have a share of Rs 15.84 billion and four micro life insurers have a share of Rs 36.65 crore.
As of October, non-life insurers have brought in the maximum business through motor insurance. The insurance companies have collected Rs 5.51 billion in insurance premiums from the company. The share of commercial motor insurance is 34 percent.
Similarly, the second most business property has been brought in by companies through insurance. The companies have collected a total premium of Rs 4.18 billion by issuing property insurance policies. The share of property insurance in the total business is 25.78 percent.
The third largest business is engineering and contract insurance. The companies have collected Rs 2.31 billion in insurance premiums from the company. The share of total business engineering insurance is 14.26 percent.
Similarly, the insurance companies collected Rs 1.73 billion in insurance premiums, Rs 916.1 million in marine insurance, Rs 595.3 million in agriculture and crop insurance, Rs 585.2 million in air insurance and Rs 372.4 million in micro insurance. Miscellaneous accounted for 10.72 percent of the total trade, followed by marine (5.65 percent), agriculture and crops (3.68 percent), Hawaii (3.61 percent) and micro (2.30 percent).
