KATHMANDU, May 25: The Nepal Insurance Authority (NIA) has launched a monthly statistical report called "Insurance Reflection" that analyzes key statistics from the insurance sector.
The report studies major indicators such as insurance companies' financial status, insurance coverage, claims, claim settlements, number of policies issued, premium collection, and other important sector metrics. Authority Chairperson Sharad Ojha said the monthly report aims to improve transparency, accountability, and policy-making by providing a solid data foundation.
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Chairperson Ojha expressed confidence that insurers, policymakers, researchers, and the general public will gain comprehensive insights about the insurance sector from the report. He added that regularly publishing the report will help identify progress, challenges, and policy needs within the sector.
The monthly report, covering data up to the end of Chaitra (mid-April) of the current fiscal year, includes details on the number of insurance policies issued, premium collections, claim payments, submissions and withdrawals, number of branches and staff of insurers, investment data, total policies, premium collections, and solvency ratios.
Moreover, the report highlights key achievements and regulatory actions taken by the NIA during the same period. It details the authority's regulatory actions, registration and settlement of claims, complaints, on-site inspections of insurers, anti-money laundering efforts, and policy approvals, among other significant topics.
