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Axco's insurance market report provides expert analysis, market insight, company performance data and market statistics for the Nepalese non-life (property and casualty) market. The detailed report is produced following a visit to the country and interviews with industry professionals working in Nepal's insurance sector. Systematic updates are published throughout the cycle, to the latest developments in the Nepal non-life (P&C) market as well as trends by line of business. Axco analysts also report on Nepal's economic factors, the local political situation, and sections on climate, operational, and security risks. The report is suitable for insurers, reinsurance companies, brokers and insurance buyers.
The report describes Nepal's insurance regulations and requirements, including vital compliance requirements such as if non admitted insurance is permitted in Nepal, what are the local rules on licensing and detailing any relevant taxes and charges for the insurer and the insured.
View detailed analysis of local lines of business and sub-classes such as natural hazards, property, construction and machinery breakdown, motor, workers compensation & employers' liability and liability. The report lists the insurance companies operating in Nepal, their market share and investigates how much premium is written through the sector’s different distribution channels.
Statistics include five years of non-life (P&C) market performance indicators, including gross written premiums, premium growth, penetration, profitability ratios, and premium by line of business. Company statistics show who are the leading non-life insurance companies in Nepal with local company premiums, market share and year on year growth, expense ratios and retentions by line of business.
Nepal is one of the poorest countries in the world, with a very large proportion of its population operating outside the cash economy. Insurance of any kind is, therefore, irrelevant for most people and, in consequence, both the life and non-life insurance sectors are very small in terms of premium revenue, although efforts are being made to introduce microinsurance products aimed at the rural community.
The non-life market is fragmented, with too many insurers ....
This is a brief extract of information; more updated information may be available in the latest published report.