Kathmandu. Bagmati Province has emerged as a major market for life insurance business. Compared to other provinces, life insurance companies have attracted more business from Bagmati.
According to the Nepal Insurance Authority, 14 life insurance companies and 3 small life insurance companies have earned a total insurance premium of 96.18 billion rupees till Magh of the current fiscal year. Insurers have collected 41.5996 billion rupees in insurance premiums from Bagmati Province alone. This is 43.33 percent of the total business.
Similarly, the second largest number of business companies have attracted business from Lumbini Province. Companies have collected 15.2794 billion rupees in insurance premiums from this province. This is 15.77 percent of the total trade.
The third largest trade is seen in Koshi Province. Companies have collected Rs 6.7 billion 45 million in insurance premiums from Koshi. This is 15.91 percent of the total trade.
Similarly, as of Magh, companies have collected Rs 9.93 billion 57 million in insurance premiums from Gandaki Province, Rs 8.66 billion 35 million from Madhesh Province, Rs 5.92 billion 83 million from Sudurpaschim Province, and Rs 2.82 billion 17 million from Karnali Province. In the total trade, Gandaki’s share is 10.35 percent, Madhesh Province’s 9.02 percent, Sudurpaschim’s 6.217 percent, and Karnali’s 2.94 percent.
