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 140.35 billion in the 10 months of the current fiscal year. Insurers have collected Rs 62.58 billion in insurance premiums from Bagmati province alone. This is 44.59 percent of the total business.
Similarly, the second highest number of business companies have imported from Lumbini Province. Companies have collected Rs 21.94 billion in insurance premiums from the state. It accounts for 15.63 per cent of the total trade.
The third highest amount of trade seems to be in Koshi province. The companies have collected Rs 16.87 billion in insurance premiums from Koshi. This is 12.02 percent of the total trade.
Similarly, the companies have collected Rs 14.13 billion from Gandaki State, Rs 12.39 billion from Madhes Province, Rs 8.45 billion from SudurPaschim State and Rs 3.95 billion from Karnali State till April 2018. Gandaki province has 10.07 percent share, Madhes province 8.83 percent, Sudurpaschim 6.02 percent and Karnali 2.82 percent.
