Growth and Market Share of Nepalese Non-Life Insurance Industry

The paper examines the growth, market share and performance of general insurance business based on written gross premium during five years period based on secondary data of 15 companies. There is huge variation on market structure and growth among the Fire, Marine, Motor, Aviation, Engineering and Miscellaneous insurance business. Motor insurance business occupied first place followed by Fire and Miscellaneous insurance. The market share of Fire and Marine increased but Motor, Aviation and Miscellaneous decreased over the study period. Based on five years gross premium, performance of Shikhar has been found best followed by Himalayan and Sagarmatha whereas the performance of NB found poorest followed by Premier and United. Spearman rank correlations shows that there is positive and significant relationship between marine and fire business and miscellaneous insurance business to engineering and aviation business. Aviation insurance market is most concentrated while Fire and Motor insurance market are least concentrated