Life Insurance Companies’ Net Premiums Rise 14.69% in Q4 of FY 2081/82

Kathmandu – The life insurance industry in Nepal reported solid growth in the last fiscal year, with all 14 life insurers reporting higher earnings. According to the fourth-quarter financial statements for FY 2081/82, the sector’s total net insurance premiums increased by 14.69 percent compared to the previous fiscal year.
By the end of the fiscal year 2080/81, the 14 companies had collectively earned Rs 176.11 billion in net premiums.
Among individual companies, Nepal Life Insurance remained the market leader, collecting Rs 47.66 billion in net premiums. National Life Insurance secured second place with Rs 21.47 billion, while LIC Nepal stood third with Rs 19.82 billion.
Similarly, Himalayan Life with Rs 17.26 billion, SuryaJyoti Life with Rs 11.18 billion, government-owned Rastriya Jeevan Beema Company with Rs 9.56 billion, and Asian Life with Rs 9.20 billion. Citizen Life earned Rs 7.13 billion, followed by Sanima Reliance Life at Rs 6.76 billion, MetLife at Rs 6.10 billion, IME Life at Rs 5.49 billion, Reliable Nepal Life at Rs 5.03 billion, Prabhu Mahalaxmi Life at Rs 5.17 billion, and Sun Nepal Life at Rs 4.32 billion.
In terms of growth, Reliable Nepal Life led the industry with a 31.82 percent increase in net premiums. Sun Nepal Life followed with 25.30 percent growth, SuryaJyoti Life with 22.83 percent, Prabhu Mahalaxmi Life with 22.22 percent, Citizen Life with 22.09 percent, and IME Life with 21.21 percent.
The industry’s largest player, Nepal Life, posted an 18.84 percent rise in net premium income. In comparison, Asian Life grew by 17.24 percent, Sanima Reliance Life by 15.29 percent, LIC Nepal by 10.18 percent, MetLife by 10.15 percent, National Life by 7.03 percent, Himalayan Life by 6.60 percent, and Rastriya Jeevan Beema Company by 5.76 percent.