Nepal Insurance Authority Renews 37 Insurance Companies Across Sectors
Kathmandu – The Nepal Insurance Authority has renewed a total of 37 insurance companies, including both government-owned and private sector institutions, by the end of Ashar 2081. The renewal covers companies operating in life, non-life, reinsurance, and microinsurance sectors, reaffirming their authorization to continue business in the Nepali market.
According to Purna Bahadur Thapa, Information Officer at the Authority, the renewed list includes 14 life insurance companies, 14 non-life insurance companies, 2 reinsurance companies, and 7 microinsurance companies.
Among the life insurance companies that have been renewed are Rastriya Jeevan Beema Company (a government-owned company), National Life Insurance, MetLife, Nepal Life Insurance, Life Insurance Corporation (Nepal), Asian Life Insurance, and Suryajyoti Life Insurance. Likewise, other life insurers, including Himalayan Life Insurance, IME Life Insurance, Sun Nepal Life Insurance, Reliable Nepal Life Insurance, Sanima Reliance Life Insurance, Citizen Life Insurance, and Prabhu Mahalaxmi Life Insurance, have also received renewal approval. The Authority noted that MetLife operates in Nepal as a branch office of a foreign insurer with assigned capital.
Similarly, in the non-life insurance category, the renewed companies include Nepal Insurance, National Insurance, The Oriental Insurance, Himalayan Everest Insurance, United Ajod Insurance, Neco Insurance, Sagarmatha Lumbini Insurance, Prabhu Insurance, IGI Prudential Insurance, NLG Insurance, Shikhar Insurance, Rastriya Beema Company, and Sanima GIC Insurance.
In the reinsurance sector, Nepal Reinsurance Company and Himalayan Reinsurance Limited have been renewed. Both play a vital role in strengthening Nepal’s insurance ecosystem by providing reinsurance support to domestic and international insurers.
Additionally, seven microinsurance companies have also been renewed, which include Nepal Micro Insurance, Guardian Micro Life Insurance, Protective Micro Insurance, Crest Micro Life Insurance, Liberty Micro Life Insurance, Star Micro Insurance, and Trust Micro Insurance.