Life Insurance Companies Earn Rs 96.01 Billion in Premiums Across Seven Provinces

Kathmandu – Life insurance companies operating in Nepal have collectively earned Rs 96.01 billion in insurance premiums across all seven provinces in seven months of current FY 2081/82, according to data released by the Nepal Insurance Authority.

The earnings come from various life insurance policies, including term, advance payment term, convertible term, child-related term, foreign employment term, life, single premium, microinsurance, and other life insurance categories.

Bagmati Province recorded the highest business volume, with insurance companies collecting Rs 41.59 billion in premiums. Lumbini Province followed with Rs 15.27 billion in premiums, reflecting significant business growth in the region. Koshi Province also contributed substantially, generating Rs 11.78 billion.

In Gandaki Province, life insurance companies collected Rs 9.93 billion in premiums, while Madhesh Province recorded Rs 8.66 billion. Similarly, in the Sudurpaschim Province, insurance businesses earned over Rs 5.92 billion.

Karnali Province registered the lowest earnings, with a total of Rs 2.82 billion in premiums. Despite its geographical challenges and underdeveloped infrastructure, the dedicated efforts of insurance agents and companies have played a crucial role in expanding life insurance services in the region.