Motor Insurance Dominates Nepal’s Non-Life Market as Insurers Issue Over 1.5 Million Policies

Kathmandu: Motor insurance continued to dominate Nepal’s non-life insurance market during the first 11 months of the current fiscal year, accounting for the largest share of insurers’ total business. Backed by the growing number of vehicles on the road and the government’s mandatory vehicle insurance policy, motor insurance contributed 30.25 percent of the industry’s total premium income.

According to data released by the Nepal Insurance Authority, the country’s 14 non-life insurers generated a total gross written premium of Rs. 45.58 billion by mid-June 2026. During the review period, insurers sold 3,106,622 insurance policies across various business segments.

Motor insurance remained the largest line of business, with insurers issuing 1,512,566 motor insurance policies and collecting Rs. 13.79 billion in premiums.

Property insurance ranked second, with 417,680 policies generating Rs. 10.77 billion in premium income.

Engineering and contractor’s all-risk insurance followed, contributing Rs. 8.63 billion from 31,474 policies issued during the period.

The miscellaneous insurance category generated Rs. 4.56 billion in premiums through the sale of 156,257 policies.

Marine insurance contributed Rs. 2.80 billion after insurers issued 376,289 policies.

Despite accounting for only 222 aviation insurance policies, aviation insurance generated Rs. 2.28 billion in premium income, reflecting the high value of aviation risks.

Meanwhile, insurers collected Rs. 1.54 billion in premiums from 146,804 agriculture and crop insurance policies.

Microinsurance remained the smallest business segment, generating Rs. 1.21 billion in premium income during the 11-month period.