Life Insurance Companies Earn Rs 250.53 Billion in FY 2081/82, Reliable Nepal Tops Growth Rate

Kathmandu – The 14 life insurance companies operating in Nepal earned a combined income of Rs 250.53 billion in the fiscal year 2081/82, reflecting a 12.01 percent growth compared to the previous year. According to the companies’ published financial statements, the sector had earned Rs 223.67 billion in the previous fiscal year.

Among the insurers, Nepal Life Insurance maintained its leading position with a total income of Rs 68.30 billion, followed by LIC Nepal at Rs 32.33 billion, and National Life Insurance at Rs 28.62 billion. Himalayan Life earned Rs 25.41 billion, while Suryajyoti Life reported Rs 15.13 billion. The government-owned Rastriya Jeevan Beema recorded Rs 14.40 billion, and Asian Life Insurance earned Rs 13.16 billion.

In the mid-tier, Citizen Life generated Rs 9.79 billion, MetLife earned Rs 8.99 billion, Sanima Reliance Life Rs 8.69 billion, IME Life Rs 7.18 billion, Reliable Nepal Life Rs 6.82 billion, Prabhu Mahalaxmi Life Rs 6.61 billion, and Sun Nepal Life Rs 5.40 billion.

In terms of growth rate, Reliable Nepal Life posted the highest expansion, increasing its income by 29.85 percent. Close behind, Citizen Life grew by 29.33 percent, while Sun Nepal Life achieved 21.35 percent growth.

Other notable growth rates included IME Life at 20.08 percent, SuryaJyoti Life at 19.52 percent, Prabhu Mahalaxmi Life at 18.64 percent, Sanima Reliance Life at 15.49 percent, and Nepal Life at 15.43 percent. Similarly, Himalayan Life rose by 12.04 percent, LIC Nepal by 7.87 percent, MetLife by 7.67 percent, Asian Life by 7.12 percent, and National Life by 5.96 percent.

However, the government-owned Rastriya Jeevan Beema Company was the only insurance company to witness a decline, with its income dropping by 7.32 percent compared to the previous fiscal year.