Kathmandu. Non-life insurers have brought in business of more than Rs 32.5 billion in the current fiscal year 2082. As of April 2018, they have brought in more than Rs 32.5 billion.
According to the data released by the Nepal Insurance Authority, in the current fiscal year 2082. Non-life insurers have collected a total insurance premium of Rs 37.26 billion till the 9th month of ’83. Out of this, 14 non-life insurers and 4 micro life insurers have brought in business of Rs 11.50 billion in motor insurance.
The second largest business of the companies is seen in the property insurance. The companies have collected a total insurance premium of Rs 8.65 billion till the period under review.
Similarly, the third largest number of business companies have brought in engineering and contract risk insurance. As of the review period, companies have collected a total insurance premium of Rs 6.91 billion from this sector.
The company has collected Rs 3.92 billion in miscellaneous insurance, Rs 2.27 billion in marine insurance, Rs 1.74 billion in air insurance, Rs 1.24 billion in agriculture and crop insurance and Rs 998.2 million in micro insurance.
What is the market share?
As of mid-April of the current fiscal year, motor insurance companies accounted for the highest share of 30.88 percent of the total business of the companies.
Likewise, in total trade, property (23.21 per cent), engineering and contract risk (18.56 per cent), miscellaneous (10.52 per cent), maritime (6.12 per cent), aviation (4.68 per cent), agriculture and agriculture (3.35 per cent) and micro (2.68 per cent) were in the sector.
