Non-Life Insurers’ Business Grows 14.81%; Shikhar Leads Market While Himalayan Everest and NLG Post Fastest Growth
Kathmandu – Nepal’s non-life insurance industry generated more than Rs 40.29 billion in gross written premiums during the first ten months of fiscal year 2025/26 (2082/83), reflecting continued expansion across the sector.
According to data released by the Nepal Insurance Authority, the country’s 14 operating non-life insurance companies collectively earned Rs 40.29 billion in total insurance premiums during the review period. This represents a 14.81 percent increase compared to the same period of fiscal year 2024/25 (2081/82, when total premium income stood at Rs 35.09 billion.
During the review period, Shikhar Insurance remained the market leader in total premium collection, while Himalayan Everest Insurance and NLG Insurance recorded the strongest year-on-year growth. By mid-May 2026, Shikhar Insurance posted the highest premium income in the sector, generating Rs 5.19 billion, up 10.90 percent from the same period last year.
Ranking second, Himalayan Everest Insurance reported one of the fastest expansion rates in the market, with premium income rising 42.05 percent to Rs 4.37 billion. Meanwhile, Sagarmatha Lumbini Insurance recorded premium income of Rs 4.25 billion, representing 5.37 percent growth year-on-year.
Among other insurers, IGI Prudential Insurance increased premium income by 16.36 percent to Rs 3.51 billion, while Siddhartha Premier Insurance posted a modest 0.42 percent increase, reaching Rs 3.49 billion.
NLG Insurance emerged as another high-growth player, expanding premium income by 42.04 percent to Rs 3.44 billion. Neco Insurance grew 11.70 percent to Rs 3.01 billion, while The Oriental Insurance recorded 14.62 percent growth, reaching Rs 2.58 billion. United Ajod Insurance increased its business by 18.31 percent, generating Rs 2.47 billion in total premiums.
During the same period, Sanima GIC Insurance reported 12.71 percent growth to Rs 2.36 billion, Nepal Insurance grew 7.54 percent to Rs 1.81 billion, and Prabhu Insurance expanded by 4.40 percent to Rs 1.49 billion.
Meanwhile, Rastriya Beema Company posted 2.14 percent growth, taking total premiums to Rs 1.18 billion, while National Insurance increased premium income by 14.47 percent to Rs 1.06 billion.