Nepal’s Life Insurance Sector Sees 9.79% Growth, Premium Collection Surpasses NPR 95 Billion

Kathmandu – Nepal’s life insurance industry has witnessed notable growth, with 14 life insurance companies earning a total of NPR 95.38 billion in insurance premiums in the period of seven months of the current financial year 2081/82. This marks a 9.79% increase compared to the same period last year, when the total premium collection stood at NPR 86.88 billion, according to the latest data released by the Nepal Insurance Authority.

Among the leading performers, Nepal Life secured the highest premium earnings, collecting NPR 26.54 billion in the seven-month period. This represents a 12.06% increase from the previous year. National Life followed with NPR 11.23 billion in earnings, reflecting an 11.78% growth, while LIC Nepal recorded NPR 11.17 billion, an increase of 10.09%. Other major contributors include Himalayan Life with NPR 9.90 billion and SuryaJyoti Life with NPR 5.95 billion in premiums.

The report also highlights significant business growth in certain companies. Asian Life saw a 14.49% rise in premiums, reaching NPR 5.07 billion. Citizen Life emerged as the fastest-growing insurer, with a 22% increase in earnings, totaling NPR 3.98 billion. Similarly, the government-owned Rastiya Jeevan Beema Company reported premium earnings of NPR 3.92 billion.