Half of the Business of Nonlife Insurance Company is in Bagmati Province, How Much Insurance policy Sale ?
Kathmandu. 14 non-life insurance companies operating in Nepal have succeed in making business worth 7.8 billion rupees in the month of Bhadra of the current fiscal year 2080/81 B.S.
In the month of July, the companies managed to earn the insurance fee from property, marine, air, motor, engineering, miscellaneous, micro and agricultural and crop insurance articles. According to the provincial details of insurance fees published by the Nepal Insurance Authority, Bagmati Province has collected the highest amount of insurance fees.In the month of August, insurance companies sold various insurance policies from this province and did business worth 4 Billion 861 million 300 thousand rupees.
According to the published data, Bagmati province has more insurance charges due to its being the federal capital of the country and the population is more than all other provinces and it has developed as a commercial center.
Along with this, Lumbini province is at the second number in terms of insurance fee collection. In the month of August, insurance companies have managed to collect insurance fees worth 6 billion 169 thousands rupees from Lumbini province.Similarly, insurance companies have earned 58 billion 1500 thousands rupees, Koshi province 47 million.3900 thousand rupees from Madhesh province in the month of August. Apart from this, in the month of July, 37 billion 1100 thousand rupees have been collected from Gandaki province, 5 billion1900 thousand rupees from Karnali province and 14 billion 5200 thousand rupees from Sudurpaschim province.
Non-life insurance companies have collected the lowest insurance fee from Karnali province. The published data shows that the insurance business has declined due to long distance from the federal capital and lack of education and insurance public awareness among other reasons.
