Life Insurance Companies in Nepal Reports 2.51% Net Profit Growth in Q1

Kathmandu –  The net profit of Nepal’s life insurance companies has grown modestly by 2.51 percent during the first three months of the current fiscal year, according to financial statements published by the insurance companies. The 14 life insurance companies operating in the country earned a combined Rs 1.97 billion, compared to Rs 1.92 billion in the same period last year.

Reliable Nepal Life Insurance and Sun Nepal Life Insurance emerged as the top performers in terms of profit generation and business growth, driven by active agent networks and improved management strategies. Reliable Nepal Life earned Rs 258.5 million, marking a 29.65 percent increase from the same period last year. Sun Nepal Life saw its profit surge by 44.02 percent, rising from Rs 166.1 million to Rs 239.2 million, the highest growth rate among all companies. Nepal Life Insurance secured third place, with a 4.94 percent increase in net profit to Rs 215.5 million.

Other notable performers include IME Life with Rs 158.3 million, Asian Life Rs 152.5 million, Sanima Reliance Rs 149.6 million, National Life Rs 148.8 million, and Citizen Life Rs 131.4 million. Companies with relatively lower profits include Suryajyoti Life Rs 128 million, Himalayan Life Rs 127.7 million, LIC Nepal Rs 108.3 million, MetLife Rs 97.1 million, Prabhu Mahalaxmi Life Rs 63.7 million, and the government-owned Rastriya Jeevan Beema Company at Rs 1.2 million.

In terms of growth rates, Sun Nepal Life Insurance leads with a 44.02 percent increase, followed by LIC Nepal at 37.47 percent, and Reliable Nepal Life Insurance at 29.65 percent.