Non-Life Insurance Premiums Hits Rs 14.35 Billion Mark

Kathmandu – Non-life insurance companies in Nepal have earned insurance premiums amounting to Rs 14.35 billion by the end of the Kartik month (mid-November) in the current fiscal year, offering eight types of insurance policies. The highest revenue came from motor insurance, mandated by the government, contributing Rs 4.59 billion to the total.

According to data from the Nepal Insurance Authority, Bagmati Province led the sector with Rs 9.62 billion in non-life insurance premiums, attributed to its high vehicle ownership and construction activities. In contrast, Karnali Province recorded the lowest business at Rs 125 million, reflecting limited insurance adoption in the region.

Property insurance emerged as the second-largest revenue source, generating Rs 3.84 billion, covering assets like buildings, raw materials, and jewelry. Other significant contributions included Rs 1.83 billion from engineer and contract risk insurance, Rs 677.9 million from agriculture and crop insurance, Rs 817 million from marine insurance, Rs 664 million from aviation insurance, and Rs 268 million from microinsurance.

Published by Nepal Insurance Authority