Kathmandu. In the first quarter of the current fiscal year (July-September), non-life insurers have been able to bring in business of around Rs 13 billion.
As per the data released by the Nepal Insurance Authority, 14 non-life insurance companies and four micro insurance companies have collected Rs 12.92 billion in insurance premiums. Out of this, 14 non-life insurers have a share of Rs 12.65 billion while four micro life insurers have a share of Rs 268.1 million.
As of September, non-life insurers have brought in the maximum business through motor insurance. The insurance companies have collected Rs 4.26 billion in insurance premiums from the company. The share of commercial motor insurance is 32.98 percent.
Similarly, the second most business property has been brought in by companies through insurance. The companies have collected Rs 3.54 billion in insurance premiums from the insurance policy. The share of property insurance in the total business is 27.45 percent.
The third largest business is engineering and contract insurance. The companies have collected a total premium of Rs 1.60 billion by issuing these policies. The share of total business engineering insurance is 12.41 percent.
Similarly, the insurance companies have collected Rs 1.48 billion in insurance premiums, Rs 740.5 million in marine insurance, Rs 516.9 million in air insurance, Rs 49.93 million in agriculture and crop insurance and Rs 273.2 million in micro insurance. Miscellaneous accounted for 11.46 percent, Marine 5.73 percent, Hawaii 4 percent, agriculture and crops 3.86 percent and micro products 2.11 percent.
