Recently published research from Timetric, "The Insurance Industry in Nepal, Key Trends and Opportunities to 2017", is now available at Fast Market Research

Boston, MA -- (SBWire) -- 07/05/2013 --Insurance needs in Nepal were mostly met by Indian companies until the establishment of the Nepal Insurance and Transport Company (later renamed as the Nepal Insurance Company) in 1947. The expansion of the Nepalese insurance industry took place during the 1990s after the government reformed the financial sector and liberalized the economy. These new policies led to the growth of insurance business in the private sector. The life segment accounted for the largest share of the total written premium value, representing a CAGR of 28.7% during the review period. The non-life segment recorded a CAGR of 24.4% during the review period. Although motor insurance is not mandatory in Nepal, the non-life segment is dominated by the motor category, which took 50% of the market in 2012 and is expected to reach 56.6% over the forecast period.

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Key Highlights

- The life segment accounted for the largest share of the total written premium value, representing a CAGR of 28.7% during the review period.
- The non-life segment recorded a CAGR of 24.4% during the review period.
- Although motor insurance is not mandatory in Nepal, the non-life segment is dominated by the motor category, which took 50% of the market in 2012 and is expected to reach 56.6% over the forecast period.
- Property insurance was the second-largest category, with a CAGR of 18.0% during the review period.
- The Nepalese insurance industry currently lacks sufficient professionals to operate at peak efficiency and effectiveness.

Scope

This report provides a comprehensive analysis of the insurance industry in Nepal:

- It provides historical values for the Nepalese insurance industry for the report's 2008-2012 review period and forecast figures for the 2012-2017 forecast period
- It offers a detailed analysis of the key segments and categories in the Nepalese insurance industry, along with industry forecasts until 2017
- It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio, combined ratio, total assets, total investment income and retentions
- It profiles the top insurance companies in Nepal and outlines the key regulations affecting them

Reasons to Get This Report

- Make strategic business decisions using in depth historic and forecast industry data related to the Nepalese insurance industry and each segment within it
- Assess the competitive dynamics in the Nepalese insurance industry
- Understand the demand-side dynamics, key market trends and growth opportunities within the Nepalese insurance industry
- Identify the growth opportunities and market dynamics within key segments
- Gain insights into key regulations governing the Nepalese insurance industry and its impact on companies and the industry's future

Companies Mentioned in this Report: Rastriya Beema Sansthan, Everest Insurance Company Ltd, NLG Insurance Company Ltd, Shikhar Insurance Company Ltd, Himalayan General Insurance Co. Ltd, Life Insurance Corporation (Nepal) Ltd, NepalLife Insurance Co. Ltd

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