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 current fiscal year 2082/19. In the first month of July 2018, the total insurance premium earned was Rs 20.23 billion. Insurers have collected Rs 8.39 billion in insurance premiumfrom Bagmati province alone. This is 41.94 percent of the total business.
Similarly, the second highest number of business companies have imported from Lumbini Province. Companies have collected Rs 3.09 billion in insurance premiums from the state. It accounts for 15.46 per cent of the total trade.
The third highest amount of trade seems to be in Koshi province. The companies have collected Rs 2.77 billion in insurance premiums from Koshi. This is 13.86 percent of the total trade.
In the review month, the companies collected Rs 2.16 billion from Gandaki State, Rs 1.81 billion from Madhes Province, Rs 1.15 billion from SudurPaschim State and Rs 625.9 million from Karnali State. Gandaki province has 10.80 percent share, Madhes province 9.4 percent, Sudurpaschim 5.76 percent and Karnali 3.13 percent.
