Collection of nearly 4.5 billion from motor insurance business

Kathmandu : Statistics show that motor insurance has the largest share in the insurance business mandated by the government. The share of mandatory motor insurance in the total share of non-life insurance companies is covered more than 30 percent. According to the statistics published by the Insurance Authority till November of the current financial year, among the non-life insurance policies in operation. The motor insurance business has taken about 30 percent share. According to the provisions of the government, the vehicle has to be insured its share is higher.

Non life Insurance Company has collected a total insurance fee of 12 billion 74 million 71 thousand rupees till to last  October of the current year. The companies have issued eight lakh 94 thousand 524 insurance policies by the month of October. The companies have collected 4 billion 245 million rupees insurance fee from motor insurance.

Insurance companies have done motor insurance business worth Rs.2 billion 3574 million from Bagmati Province. Similarly, during this period the companies have done property insurance business worth 3 billion 1975 million rupees. Similarly, they have done business worth 1 billion 5837 million rupees from engineering and contract risk insurance 72 million 74 thousand rupees from marine insurance, 735.7 million rupees from Hawaii, 64 million rupees from agriculture and crops and 2 million rupees from micro insurance.