A total of 915,717 insurance policies were issued during the three-month period. Performance surged particularly in the month of Asoj, which alone accounted for 383,650 issued policies and Rs 5.81 billion in premium collections.
Sagarmatha Lumbini Leads Premium Earnings
Among individual insurers, Sagarmatha Lumbini Insurance captured the top spot for total premium earnings, pulling in Rs 1.83 billion. Shikhar Insurance Company followed closely in second place with Rs 1.79 billion.
Despite placing second in total revenue, Shikhar Insurance led the market in sheer volume, issuing 102,312 policies during the quarter. Other notable performers included Himalayan Everest Insurance with Rs 1.60 billion, NLG Insurance with Rs 1.49 billion, IGI Prudential with Rs 1.33 billion, and Siddhartha Premier with Rs 1.31 billion. Additionally, four specialized micro non-life insurance companies collectively collected Rs 243.1 million in premiums.
Bagmati Dominates, Karnali Lags
The data highlights a heavy geographic concentration of the non-life insurance market. Bagmati Province alone accounted for 69.15 percent of all premium collections, totaling Rs 10.91 billion.
Lumbini Province ranked second with Rs 1.31 billion, followed by Koshi Province with Rs 1.28 billion and Madhes Province with Rs 1.01 billion. Karnali Province recorded the lowest market penetration, collecting just Rs 125.1 million in insurance premiums. Analysts point out that this heavy reliance on Bagmati, coupled with low access in Karnali, is largely driven by the heavy market presence of motor and property insurance.
Motor and Property Lead
In sectoral contributions, motor insurance took the top position, generating Rs 4.83 billion in premiums. Property insurance followed in second place with Rs 3.87 billion.
Other key sectors included engineering and contractor risk at Rs 2.39 billion, miscellaneous insurance at Rs 1.34 billion, and marine insurance at Rs 1.22 billion.
