Insurance Penetration in Nepal Exceeds 51%, Market Fund Surpasses 1 Trillion Rupees
Summary
Nepal's insurance penetration has surpassed 51%, with the market fund exceeding 1 trillion rupees. The sector contributes 3.69% to GDP and employs over 13,000 white collar workers and 400,000 agents.
Key Points
- Nepal's insurance penetration has exceeded 51% with a market fund over 1 trillion rupees.
- There are currently 37 insurance companies operating in Nepal across various insurance types.
- The insurance sector contributes 3.69% to Nepal’s GDP, surpassing the global average of 3.50%.
- The Nepal Insurance Authority has intensified regulation, conducted inspections, and implemented digital measures to systematize the sector.
