Non-Life insurers collect nearly Rs. 33 billion in 9 months

KATHMANDU, MAY 4: Non-life insurance companies in Nepal have collected nearly Rs. 33 billion in insurance premiums during the first nine months of the current fiscal year. According to data published by the Nepal Insurance Authority, a total of 18 non-life insurance companies—including 14 standard insurers and 4 micro-insurance companies—collected Rs. 32.82 billion in premiums.

Of this total, the 14 regular non-life insurers collected Rs. 32.13 billion, while the four micro-insurance companies collected Rs. 686.7 million.

During the review period, Shikhar Insurance earned the highest premium income, totalling Rs. 4.35 billion. It was followed by Sagarmatha Lumbini Insurance, which collected Rs. 3.74 billion. National Insurance Company reported the lowest premium income, amounting to Rs. 879.5 million.

Among the micro-insurance companies, Nepal Micro Insurance collected the highest amount, Rs. 193.6 million, while Trust Micro Insurance collected the lowest, at Rs. 154 million. In total, these 18 companies issued 2,412,331 insurance policies during the review period.

In the month of Chaitra (mid-March to mid-April) alone, the companies collected Rs. 42.04 billion in premiums and issued 338,867 policies.

Motor insurance generated the highest premium income during the review period. Companies collected Rs. 9.83 billion from motor insurance, issuing 1,207,442 motor insurance policies. Bagmati Province led in this category, with 545,679 policies issued and Rs. 5.63 billion in premiums collected. Karnali Province recorded the lowest figures, with 19,682 policies and Rs. 713.7 million in premiums.

After motor insurance, property insurance accounted for the second-highest premium income, totalling Rs. 8.20 billion during the first nne months of 2024/25.

Additionally, non-life insurers collected Rs. 5.56 billion from engineering insurance, Rs. 3.57 billion from miscellaneous insurance, Rs. 1.89 billion from marine insurance, Rs. 1.23 billion from agricultural insurance, Rs. 1.81 billion from aviation insurance, and Rs. 699.7 million from micro-insurance.