Non-Life Insurers Issued 2.196 Million Policies in Nine Months; United Ajod Leads the Market

Kathmandu — Nepal’s 14 non-life insurance companies issued a combined 2,196,148 insurance policies during the first nine months of the current fiscal year 2025/26 (2082/83), ending mid-April (Chaitra). This compares with 2,192,261 policies issued during the same period last year, an increase of 3,887 policies, according to the companies’ third-quarter financial statements.

United Ajod Insurance emerged as the country’s largest policy issuer, selling 313,579 policies during the review period. The figure represents a year-on-year increase of 139,368 policies from 174,211 recorded in the corresponding period of the previous fiscal year 2024/25 (2081/82).

Himalayan Everest Insurance ranked second with 249,868 policies, followed by Shikhar Insurance, which issued 238,667 policies. Neco Insurance sold 225,280 policies, while Siddhartha Premier Insurance completed the top five with 205,594 policies.

The remaining insurers reported the following policy issuance during the nine-month period: Sagarmatha Lumbini Insurance (SALICO) with 201,838 policies, IGI Prudential Insurance with 171,453, Nepal Insurance with 167,342, and NLG Insurance with 161,893.

Meanwhile, Sanima GIC Insurance issued 105,288 policies, Prabhu Insurance 82,421, Oriental Insurance 34,211, the state-owned Rastriya Beema Company 23,830, and National Insurance 14,884 policies.

The data also highlight a mixed performance across the industry. While several insurers expanded their policy base over the past year, others recorded declines. United Ajod Insurance posted the largest year-on-year increase in policy issuance, whereas Rastriya Beema Company experienced the sharpest decline.