Life Insurers’ First-Year Premium Income Jumps 29%; Which Company Led New Business Growth?
Kathmandu — Nepal’s life insurance industry recorded a sharp rise in new business generation during the current fiscal year, with first-year premium income increasing by 29 percent year-on-year.
Life insurers generated a total of NPR 35.45 billion in first-year premiums by the end of mid-May 2026 (through Baisakh of 2083), up from NPR 27.45 billion during the same period of the previous fiscal year.
The growth indicates stronger policy acquisition and expanding customer reach across the life insurance sector.
Among all insurers, IME Life Insurance emerged as the strongest performer in attracting new business. By the end of the review period, the company’s first-year premium income had surged 85 percent year-on-year. After collecting NPR 1.03 billion in first-year premiums during the same period last year, IME Life increased that figure to NPR 1.93 billion this year.
Citizen Life Insurance ranked second in terms of growth rate. The company increased first-year premium income by 42 percent, rising from NPR 1.54 billion last year to NPR 2.20 billion during the current review period.
Reliable Nepal Life Insurance placed third in new business growth, with first-year premium collections rising 39 percent year-on-year. The company expanded its new business premium from NPR 1.18 billion to NPR 1.65 billion.
Several other insurers also posted strong gains. Asian Life Insurance increased first-year premium income by 39 percent, Nepal Life Insurance by 33 percent, Prabhu Mahalaxmi Life Insurance by 29 percent, LIC Nepal by 29 percent, National Life Insurance by 23 percent, and Sanima Reliance Life Insurance by 21 percent.
Meanwhile, SuryaJyoti Life and Sun Nepal Life Insurance each recorded 19 percent growth, while Rastriya Jeevan Beema Company posted 18 percent growth. MetLife Nepal increased first-year premium income by 16 percent, whereas Himalayan Life Insurance recorded a comparatively modest increase of 2 percent.
The latest figures show that although larger insurers continue to dominate overall premium volume, much of the momentum in acquiring new customers is increasingly being driven by faster-growing mid-sized life insurance companies.