Kathmandu. Bagmati Province has emerged as a big market for life insurance business. Life insurers have brought more business from Bagmati than other provinces.
According to the Nepal Insurance Authority, 14 life insurance companies and three small life insurance companies have earned a total insurance premium of Rs 58.72 billion in the first quarter of the current fiscal year. Insurers have collected Rs 26.88 billion in insurance premiums from Bagmati Province alone. This is 45.78 percent of the total business.
Similarly, the second largest number of business companies have been imported from Lumbini province. The companies have collected Rs 8.84 billion in insurance premiums from this province till September. This is 15.05 percent of the total trade.
The third largest business is seen in Koshi Province. The companies have collected Rs 6.92 billion in insurance premiums from Koshi. This is 11.79 percent of the total trade.
Similarly, the companies collected Rs 5.83 billion in insurance premium from Gandaki Province, Rs 5.15 billion from Madhesh Province, Rs 3.35 billion from Sudurpaschim Province and Rs 1.72 billion from Karnali Province till mid-October. Gandaki has a share of 9.93 per cent in the total trade, followed by Madhes Province (8.79 per cent), Sudurpaschim Province (5.72 per cent) and Karnali (2.94 per cent).
