Non-Life Insurers Renew 673,325 Policies in Nine Months; Salico Tops the Market

Kathmandu — Nepal’s 14 non-life insurance companies renewed a total of 673,325 insurance policies during the first nine months of FY2025/26 (2082/83), according to their third-quarter financial statements. The figure represents an increase of 39,770 policies from 633,555 renewals recorded during the same period of the previous fiscal year.

Salico retained the top position by renewing 97,887 policies during the review period. Despite leading the market, the company renewed 1,533 fewer policies than the 99,420 recorded a year earlier.

Siddhartha Premier Insurance ranked second with 83,965 policy renewals, posting one of the strongest performances in the sector by adding 11,968 renewals compared to the same period last year. It was followed by Neco Insurance with 79,145 renewals, Shikhar Insurance with 71,079, and Himalayan Everest Insurance with 56,597.

Among the remaining insurers, NLG Insurance renewed 52,174 policies, IGI Prudential Insurance 51,025, Sanima GIC Insurance 46,072, United Ajod Insurance 39,043, Nepal Insurance 35,957, and Prabhu Insurance 35,254.

Meanwhile, the state-owned Rastriya Beema Company renewed 12,435 policies, Oriental Insurance renewed 7,983, and National Insurance recorded 4,709 policy renewals during the nine-month period.

The data show that most non-life insurers expanded their renewal portfolios compared to the previous year. Siddhartha Premier Insurance, NLG Insurance, and Himalayan Everest Insurance posted some of the strongest gains in policy renewals. In contrast, Salico, United Ajod Insurance, Shikhar Insurance, and Rastriya Beema Company reported a decline in renewed policies from the same period last year.