Kathmandu. Non-life insurer for the current fiscal year 2082. In the first 10 months of 2018-19, it has brought in more than Rs 41.39 billion.
According to the data released by the Nepal Insurance Authority, the current fiscal year 2082. Non-life insurers have collected a total of Rs 41.39 billion in insurance premiums till mid-April 2018. Among them, 14 non-life insurance companies and four micro life insurers have contributed Rs 12.63 billion towards motor insurance.
The second largest business of companies is seen in property insurance. During the review period, the company has earned Rs 9.73 billion in insurance premiums.
Similarly, a third of the business companies have brought in engineering and contract risk insurance. During the review period, companies have collected Rs 7.87 billion in insurance premiums from this sector.
In the current fiscal year, the companies have collected Rs 4.25 billion in insurance premiums, Rs 2.52 billion in marine insurance, Rs 1.89 billion in air insurance, Rs 1.36 billion in agriculture and crop insurance and Rs 1.11 billion in micro insurance.
What is the market share?
As of mid-April of the current fiscal year, motor insurance has the highest share of 30.52 percent of the total business of the companies.
Likewise, 23.51 percent was related to property, 19.03 percent to engineering and contract risk, 10.27 percent to miscellaneous, 6.10 percent to maritime, 4.59 percent to aviation, 3.29 percent to agriculture and crops and 2.69 percent to micro sector.
