In simple words, Non-life insurance means the insurance done for the safeguard or protection of property from uncertain events. It is the losses that will be incurred from a particular monetary occasion that is compensated to the insured that is truly referred to as Non-life insurance. Mainly it is taken because of the approach of imparting safety and protecting buildings, devices, fixtures, equipment, automobiles, and different items from the prospect of an earthquake, accident, the hazard of fireside, and theft. 

Table of Content

1. Importances of Non-Life Insurance

1. In the case of House/Building Insurance, the insured can claim for foreseen accidents like Fire, earthquakes, and natural calamities. 

2. In the case of Health Insurance, the insured gets financial help from the insurance company.

3. In the case of Devices/Machinery Insurance, you can get financial help according to the policy.

4. In the case of Automobiles, you can claim for the losses.

5. You can stay free and safe if you have done insurance on your properties.

So, it is necessary to safeguard the properties by doing non-life insurance. 

2. Types of Non-Life Insurance

1. Property Insurance
2. Health Insurance
3. Auto Insurance
4. Travel Insurance
5. Mortgage Insurance
6. Disaster(Earthquake, Fire, flood, etc)

There are 20 Non-life Insurance Companies established in Nepal. They are followed below

1. AJOD Insurance Limited	11. Everest Insurance Company limited (EIC)
2. General Insurance Company Nepal	12. Himalayan General Life Insurance
3. IME General Insurance Company(IGI)	13. Lumbini General Insurance Company Ltd.(LGIL)
4. National Insurance Co.Ltd	14. NECO Insurance Company Limited (NIL)
5. Nepal Insurance Company Limited(NICL)	15. NLG Insurance Company(NLG)
6. Prabhu Insurance Company Limited(PRIN)	16. Premier Insurance Company Ltd
7. Prudential Insurance Company Limited(PICL)	17. Rashtriya Beema Company Ltd
8. Sagarmatha Insurance Company(SIC)	18. Sanima General Insurance Company Limited
9. Shikhar Insurance Company Limited(SICL)	19. Siddhartha Insurance Company Limited (SIL)
10. Oriental Insurance Company Limited	20. United Insurance Company Limited (UIC)

3. Top Five Non-Life insurance companies in Nepal

Recently 20 Non-Life Insurance companies are operating in Nepal. From these 20 Non-Life Insurance companies, we have categories of the top five Non-Life Insurance Companies according to their paid-up capital.

          They are followed below:

S.N	Companies name	Paid-up capital      (Rs crores)
1.	Shikhar Insurance Company Limited(SICL)	175.85
2.	NECO Insurance Company Limited (NIL)	131.74
3.	Siddhartha Insurance Company Limited (SIL)	112
4.	Sagarmatha Insurance Company(SIC)	111.13
5.	NLG Insurance Company(NLG)	109.63

4. According to the above-mentioned data, 

• Shikhar Insurance Company Limited(SICl) has the first and best paid-up capital i.e. 175.85 crores.

•  NECO Insurance Company, Limited (NIL) has the second-highest paid-up capital i.e. 131.74 crores. 

• Siddhartha Insurance Company Limited (SIL) has the third-highest paid-up capital i.e. 112 crores.

• Sagarmatha Insurance Company(SIC) has the fourth-highest paid-up capital i.e 111.13 crores

• NLG Insurance Company(NLG) has the fifth-highest paid-up capital i.e. 109.63

5. Conclusion

These are the information related to the Non-Life Insurance Company of Nepal. Hope you guys like this blog. Thank You

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