Kathmandu. Bagmati Province is the largest market for life insurance business. Compared to other provinces, life insurers from Bagmati seem to have brought more business.
According to the data released by the Nepal Insurance Authority, 14 life insurance companies and three micro-life insurance companies have been able to do so in the last fiscal year 2081/ 2081. A total of Rs 182.27 billion has been earned as insurance premium. Insurers have collected Rs 80.34 billion in insurance premiumfrom Bagmati state alone. This is 43.91 percent of the total business.
Similarly, the second highest number of business companies have imported from Lumbini Province. Companies have collected Rs 28.71 billion in insurance premiums from the state. It accounts for 15.75 percent of the total trade.
The third highest amount of trade seems to be in Koshi province. The companies have collected Rs 22.32 billion in insurance premiums from Koshi. This is 12.25 percent of the total trade.
In the review year, the companies collected Rs 18.45 billion from Gandaki State, Rs 16.31 billion from Madhes Province, Rs 11.18 billion from SudurPaschim State and Rs 5.24 billion from Karnali State. Gandaki province has 10.12 percent share, Madhes province 8.95 percent, Sudurpaschim 6.14 percent and Karnali 2.88 percent.
