Life Insurers’ Renewal Premiums Rise 9.36%; IME Life and Citizen Life Lead Growth
Kathmandu — Nepal’s 14 life insurance companies collected a combined NPR 150.62 billion in renewal premiums during the last fiscal year 2025/26 (2082/83), marking a 9.36 percent increase from NPR 137.73 billion in the previous fiscal year 2024/25 (2081/82).
Renewal premiums are generated when policyholders continue their insurance coverage by paying premiums at scheduled intervals, making them a key source of recurring income for life insurers.
Nepal Life Insurance remained the market leader, collecting NPR 40.61 billion in renewal premiums. It was followed by National Life Insurance with NPR 17.74 billion, LIC Nepal with NPR 17.70 billion, and Himalayan Life Insurance with NPR 15.63 billion, according to data released by the Nepal Insurance Authority.
Among the remaining insurers, SuryaJyoti Life Insurance collected NPR 9.16 billion, while the state-owned Rastriya Jeevan Beema Company generated NPR 8.84 billion. Asian Life Insurance recorded NPR 7.73 billion, followed by Citizen Life Insurance with NPR 6.06 billion and Sanima Reliance Life Insurance with NPR 5.66 billion.
MetLife Nepal collected NPR 5.22 billion in renewal premiums. IME Life Insurance generated NPR 4.68 billion, followed by Prabhu Mahalaxmi Life Insurance with NPR 4.18 billion, Reliable Nepal Life Insurance with NPR 4.15 billion, and Sun Nepal Life Insurance with NPR 3.26 billion.
In percentage terms, IME Life Insurance recorded the highest growth in renewal premiums, posting a 25.76 percent increase over the previous fiscal year.
Citizen Life Insurance followed with 17.58 percent growth, while Reliable Nepal Life Insurance expanded by 17.43 percent. Sun Nepal Life Insurance reported a 16.41 percent increase, Sanima Reliance Life Insurance grew by 15.85 percent, Prabhu Mahalaxmi Life Insurance by 15.46 percent, and SuryaJyoti Life Insurance by 14.50 percent.
Among the remaining companies, Asian Life Insurance recorded 9.58 percent growth, Nepal Life Insurance 8.89 percent, MetLife Nepal 8.55 percent, National Life Insurance 8.31 percent, Himalayan Life Insurance 5.26 percent, and LIC Nepal 4.79 percent.
The government-owned Rastriya Jeevan Beema Company posted the slowest growth, with renewal premium income rising by 1.12 percent during the fiscal year.