Life Insurers Grow Premium Income by 12%; IME, Reliable Nepal and Citizen Lead Growth
Kathmandu — Nepal’s life insurance industry recorded solid growth during the current fiscal year, with life insurers collectively generating NPR 156.17 billion in gross written premiums by the end of mid-May 2026 (through Baisakh of FY 2082/83).
According to data released by the Nepal Insurance Authority, the country’s 14 operating life insurance companies generated this total premium income during the review period.
Compared with the same period of the previous fiscal year, total life insurance business expanded by 12.06 percent. During the corresponding period a year earlier, life insurers had generated NPR 139.37 billion in premium income, reflecting continued expansion across the sector.
By total premium volume, Nepal Life Insurance and National Life Insurance remained the market leaders, while IME Life Insurance, Citizen Life Insurance, and Reliable Nepal Life Insurance posted the strongest growth rates.
Nepal Life Insurance maintained its position as the largest life insurer, increasing premium income by 12.51 percent year-on-year to NPR 41.17 billion.
The second-largest insurer, National Life Insurance, grew its business by 10.61 percent to reach NPR 19.02 billion, while LIC Nepal expanded premium income by 8.14 percent to NPR 16.84 billion.
Among other major insurers, Himalayan Life Insurance recorded 5.52 percent growth, reaching NPR 14.56 billion in premiums. State-owned Rastriya Jeevan Beema Company increased premium income by 16.43 percent to NPR 10.09 billion. SuryaJyoti Life posted 11.47 percent growth to NPR 9.51 billion, while Asian Life Insurance grew by 12.25 percent to NPR 8.02 billion.
Meanwhile, Citizen Life Insurance reported one of the strongest performances among established players, with premium income rising 19.49 percent to NPR 6.78 billion, and Sanima Reliance Life Insurance expanded by 12 percent to NPR 5.98 billion.
IME Life Insurance emerged as the fastest-growing company overall, posting a 31.30 percent increase in business and raising total premium income to NPR 5.50 billion.
As of mid-May 2026, MetLife Nepal increased premium income by 10.28 percent to NPR 5.49 billion, while Reliable Nepal Life Insurance expanded by 19.13 percent to NPR 4.94 billion. Prabhu Mahalaxmi Life Insurance grew by 14.59 percent to NPR 4.70 billion, and Sun Nepal Life Insurance recorded more modest growth of 3.88 percent, reaching NPR 3.55 billion in total premiums.
The latest figures suggest that while larger insurers continue to dominate in absolute premium volume, mid-sized and newer players are increasingly driving growth across Nepal’s life insurance market.