Life Insurance Business Surge by 8% Growth, Earning Rs 53.39 Billion

Kathmandu – Nepal’s life insurance industry has witnessed an 8% growth in business compared to last year, earning a total insurance premium of Rs. 53.39 billion by the end of Kartik month (Mid-Novemvber) in the current fiscal year. Data from the Nepal Insurance Authority reveals that most companies recorded improved performance, with the exception of the state-owned Rastriya Jeevan Beema Company, which saw a decline in business.

In the same period last year, life insurers collectively earned Rs. 49.43 billion in premiums. Among the companies, Reliable Nepal Life recorded the highest growth, expanding its business by 28.54% compared to last year. Following Reliable Nepal Life, Citizen Life secured second place with a 22.91% increase in its business.

National Life Insurance ranked third, achieving 21.61% growth, while Prabhu Mahalaxmi Life experienced an 18.51% rise, placing it in fourth position. IME Life rounded out the top five with a 17.82% increase in business compared to the previous year.