Non-Life Insurers Collect NPR 997 Million in Premiums by Bhadra; Property Insurance Leads
By the second month of the current fiscal year 2083/84 (Bhadra), non-life insurers have collected a total of NPR 997.74 million in premiums. Property insurance accounts for 27.14% share, while motor insurance follows with 26.14%.
Kathmandu. According to data published by the Nepal Insurance Authority, non-life insurers have collected a total premium of NPR 997.74 million by the second month of the current fiscal year 2083/84 (Bhadra). This includes 14 non-life insurers and 4 micro non-life insurers.
The highest business has been in property insurance. Companies have collected NPR 270.80 million from this sector, which is 27.14% of the total business.
Motor insurance stands second, with NPR 260.85 million collected, accounting for 26.14% of the total business.
Engineering and contract risk insurance is in third place, with NPR 150.85 million collected, representing 15.12% of the total business.
The contributions of other insurance sectors are as follows:
- Miscellaneous insurance: NPR 90.03 million (9.02%)
- Marine insurance: NPR 79.15 million (7.93%)
- Aviation insurance: NPR 49.02 million (4.91%)
- Health insurance: NPR 42.18 million (4.23%)
- Livestock and agriculture insurance: NPR 38.63 million (3.87%)
- Micro insurance: NPR 14.52 million (1.46%)
- Liability insurance: NPR 1.67 million (0.17%)
The combined share of property and motor insurance in the total business stands at 53.28%, indicating the dominance of these two sectors in the non-life insurance market.