Non-Life Insurance Companies Collect Rs 4.10 Billion in Premiums, Business Grows by 7%

Kathmandu – According to the data released by the Nepal Insurance Authority, Non-life insurance companies in Nepal have collectively earned Rs 4.10 billion in insurance premiums in the month of Chaitra alone, reflecting a 7.01 percent increase compared to the same month last fiscal year.

In this month of the previous fiscal year, the total premium income of non-life insurance companies stood at Rs 3.83 billion. This year’s improved performance comes as 11 companies reported growth in business, while three recorded a decline.

Leading the sector this month was Himalayan Everest Insurance, which earned Rs 574.9 million in premiums—an increase of 25.05 percent compared to the same month last year. Following behind, The Oriental Insurance recorded a significant 34.31 percent rise in business, collecting Rs 451 million in premiums.

Despite strong competition, Sagarmatha Lumbini Insurance secured third position with Rs 414.9 million in collections, although its business declined by 15.29 percent compared to last year’s Chaitra month.

Other notable performers include Sanima GIC Insurance with Rs 359.9 million, IGI Prudential Insurance with Rs 358.8 million, and Siddhartha Premier Insurance with Rs 351.8 million. Shikhar Insurance followed closely, earning Rs 331.9 million during the month.

In terms of mid-range performers, Neco Insurance generated Rs 276.9 million in premiums, NLG Insurance earned Rs 275.3 million, and United Ajod Insurance brought in Rs 256.2 million. Nepal Insurance recorded Rs 156.4 million in business.

Among the companies with lower premium incomes this month were Prabhu Insurance with Rs 147.9 million, National Insurance with Rs 114.7 million, and the government-owned Rastriya Beema Company with Rs 38.7 million.