Kathmandu. Non-life insurance companies have done business of more than Rs 39.88 billion in the 11 months of the current fiscal year.
According to nepal insurance authority data, 14 non-life insurance companies and four non-life micro insurance companies have earned a total insurance premium of Rs 39.88 billion by selling 2,926,529 insurance policies in the 11-month period from July to June.
As of May, companies have done the most business in motor insurance. Through motor insurance, the companies have earned a total insurance premium of Rs 11.74 billion till May. The share of motor insurance in the total non-life insurance business is 29.45 percent.
Similarly, the second highest number of business companies are seen in property insurance. As of May 2018, the companies have collected a total of Rs 10.13 billion in insurance premiums. Property insurance accounts for 25.40 percent of the total business.
In the current fiscal year, the companies have earned Rs 6.90 billion in engineering and contract, Rs 4.14 billion in various sectors, Rs 2.32 billion in marine, Rs 2.26 billion in aviation, Rs 1.50 billion in livestock and agriculture and Rs 864.8 million in micro sector. Engineering and contracting account for 17.31 per cent, miscellaneous 10.39 per cent, maritime 5.82 per cent, aviation 5.68 per cent, livestock and agriculture 3.78 per cent and micro 2.17 per cent.
