Motor Insurance Generates NPR 15.5 Billion in Premiums

Kathmandu — Nepal’s non-life insurance companies collected a total of NPR 51.92 billion in gross written premiums during the last fiscal year by issuing 3.47 million insurance policies.

Motor insurance remained the industry’s largest business line, generating NPR 15.49 billion in premiums, according to industry data.

Property insurance ranked second with NPR 12.23 billion in premiums, followed by engineering and contractors’ all-risk insurance at NPR 10.08 billion. Miscellaneous insurance contributed NPR 5.32 billion, while marine insurance generated NPR 3.12 billion in premiums.

The sector also collected NPR 2.57 billion from aviation insurance, NPR 1.79 billion from agriculture and crop insurance, and NPR 1.33 billion from microinsurance during the fiscal year.

By province, Bagmati Province accounted for the largest share of non-life insurance business, followed by Koshi, Lumbini, Madhesh, Gandaki, and Sudurpashchim provinces. Karnali Province recorded the lowest volume of non-life insurance business.