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 Nepal Insurance Authority(NEA), 14 life insurance companies and three micro-life insurance companies have earned a total insurance premium of Rs 155.15 billion till May of the current fiscal year. Insurers have collected Rs 68.79 billion in insurance premiums from Bagmati province alone. This is 44.34 percent of the total business.
Similarly, the second highest number of business companies have imported from Lumbini Province. Companies have collected Rs 24.33 billion in insurance premiums from the state. It accounts for 15.69 percent of the total trade.
The third highest amount of trade seems to be in Koshi province. The companies have collected Rs 18.78 billion in insurance premiums from Koshi. This is 12.11 percent of the total trade.
Similarly, the companies have collected Rs 15.62 billion in insurance premiums from Gandaki State, Rs 13.83 billion from Madhes, Rs 9.41 billion from SudurPaschim State and Rs 4.35 billion from Karnali State. Gandaki province has 10.07 percent share, Madhes province 8.92 percent, Sudurpaschim 6.07 percent and Karnali 2.80 percent.
