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Nepal

Nepal

Insurance Intelligence

Providing expert analysis, independent market insight and company data on the insurance industry.

Insurance market reports are produced following a country visit with interviews with professionals working in the sector with systematic updates to information throughout the cycle. Covering market developments, macroeconomic factors and comprehensive details of the regulatory environment including relevant taxation as well as market indicators and company statistics.

Axco’s Nepal Non-Life Insurance Market Report (P&C) also comprises a detailed analysis of lines of business and sub-classes such as natural hazards, property, construction and machinery breakdown, motor, workers compensation & employers’ liability and liability.

The Life & Benefits Report for Nepal includes detail on social security, healthcare, individual life assurance and pensions information as well as market statistics and life company statistics

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Information for Nepal can be seen in:

Insurance Market Reports (Non-Life) Insurance Market Reports (Life & Benefits) Global Statistics Regulatory Alerts Market Profiles Insight Compliance Compliance Point Clinical Trials

Country Information

Time-zone
Capital city
Currency
Population
Real GDP growth (%)
Inflation (%)
latest GWP
Insurance Penetration (%)
GMT +5:45
Kathmandu
NPR
29.14 mn
4.30 (2020)
4.54% (2020)
671.62
2.43

Nepal is a small, landlocked country, bordered to the north by the Tibet Autonomous Region of China and in all other directions by India.

Non-life premium income for 2017-18 was NPR 22.14bn, an increase of 16.35% over the 2016-17 period. The combined (life and non-life) market premium amounted to NPR 73.16bn in 2017-18. No separate PA and healthcare statistics are available.

There are 40 registered insurance companies in Nepal, of which 20 are non-life and 19 are life offices. There is also one local reinsurer.

Earthquake is a major risk which affects the whole country. The Kathmandu Valley is particularly vulnerable and has been hit by some extremely severe earthquakes, including the major events in April and May 2015.

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