Life Insurance Premiums in Nepal Reach Rs 154.5 Billion, Marking 15.29% Growth

Kathmandu — Nepal’s life insurance sector has shown impressive growth, with companies earning a total of Rs 154.5 billion in premiums by the end of the 11th month of the current fiscal year. This marks a 15.29 percent increase compared to the same period last year, when premiums totaled Rs 133.63 billion, according to the latest data released by the Nepal Insurance Authority.

Among the 14 life insurance companies operating in the country, Nepal Life Insurance continues to dominate the market, collecting Rs 41.02 billion in premiums. The company’s business has grown by 15.35 percent compared to the same period last fiscal year, maintaining its position as the market leader.

Following closely is National Life Insurance, which has seen a remarkable 18.30 percent increase in its business. The company earned Rs 18.90 billion in premiums this year, up from Rs 15.98 billion in the corresponding period last year. LIC Nepal ranks third, having earned Rs 17.2 billion, reflecting a business growth of 8.47 percent.

Himalayan Life Insurance reported premium earnings of Rs 15.22 billion, showing a moderate rise of 3.97 percent. Meanwhile, Suryajyoti Life Insurance is emerging as an aggressive player in the market. The company posted an 18.13 percent growth, collecting Rs 9.45 billion in premiums during the review period. Interestingly, Rastriya Jeevan Beema Company recorded a striking 51.20 percent surge in premium income, reaching Rs 9.64 billion.

Other companies also demonstrated positive momentum. Asian Life Insurance’s premium income rose by 11.88 percent to Rs 7.86 billion, while Citizen Life Insurance saw a 19.58 percent increase, reaching Rs 6.32 billion. Sanima Reliance Life collected Rs 5.90 billion, growing by 10.80 percent over the previous fiscal year. Reliable Nepal Life has shown particularly strong growth, with its premium income rising by 23.38 percent to Rs 4.55 billion.