Kathmandu. In the first five months of the current fiscal year, non-life insurers have been able to bring in business of around Rs 20 billion.
As per the data released by the Nepal Insurance Authority, 14 non-life insurance companies and four micro insurance companies have collected Rs 19.98 billion in insurance premiums till December 2018. Out of this, 14 non-life insurers have a share of Rs 19.48 billion while four micro life insurers have a share of Rs 496.0 million.
As of November, non-life insurers have brought in the maximum business through motor insurance. The insurance companies have collected Rs 6.78 billion in insurance premiums from the company. The share of total commercial motor insurance is 33.97 percent.
Similarly, the second most business property has been brought in by companies through insurance. The companies have collected Rs 4.96 billion in insurance premiums by issuing property insurance policies. The share of property insurance in the total business is 24.84 percent.
The third largest business is engineering and contract insurance. The company has collected a total premium of Rs 2.91 billion by issuing this policy. The share of total business engineering insurance is 14.58 percent.
Likewise, the insurance companies collected Rs 2.05 billion in insurance of various sectors, Rs 1.17 billion in insurance of marine insurance, Rs 860.3 million in air insurance, Rs 71.97 crore in agriculture and crop insurance and Rs 503.2 million in micro insurance. Miscellaneous accounted for 10.28 percent of the total trade, followed by marine (5.90 percent), Hawaii (4.30 percent), agriculture and crops (3.60 percent) and micro (2.52 percent).
