Life Insurance Companies in Nepal Pay Rs 78.72 Billion in Claims in FY 2081/82

Kathmandu – Nepal’s life insurance companies have seen a significant rise in claim payouts, with all 14 operating life insurance companies disbursing a total of Rs 78.72 billion in the last fiscal year (FY 2081/82). This marks a 19.20 percent increase compared to Rs 66.04 billion paid in the previous fiscal year.

According to financial statements released by the insurers, Nepal Life Insurance accounted for the highest payout of Rs 19.19 billion, followed by LIC Nepal with Rs 12.59 billion and National Life Insurance with Rs 11.07 billion.

Other major payouts included government-owned Rastriya Jeevan Beema Company with Rs 6.56 billion, Asian Life with Rs 6.18 billion, SuryaJyoti Life with Rs 3.69 billion, and MetLife with Rs 2.94 billion. Similarly, Citizen Life disbursed Rs 1.91 billion, Sanima Reliance Life Rs 1.77 billion, Sun Nepal Life Rs 1.57 billion, Reliable Nepal Life Rs 1.43 billion, IME Life Rs 1.28 billion, and Prabhu Mahalaxmi Life Rs 1.15 billion.

In terms of growth, National Life recorded the highest increase at 32.94 percent, followed by Asian Life (32.60 percent) and Nepal Life (28.01 percent). Sun Nepal Life also posted strong growth at 27.99 percent, while Rastriya Jeevan Beema Company and Himalayan Life reported 24.77 percent and 22.43 percent growth, respectively.

LIC Nepal’s claim payouts rose by 15.52 percent, Prabhu Mahalaxmi Life by 7.01 percent, Citizen Life by 4.58 percent, and IME Life by 2.89 percent.

However, not all companies experienced growth. SuryaJyoti Life saw an 8.91 percent decline in payouts, MetLife recorded an 8.94 percent drop, and Sanima Reliance Life reported the sharpest decline at 10.84 percent.