Life Insurers Generate NPR 120.72 Billion in Renewal Premiums; Nepal Life and LIC Nepal Remain Market Leaders
Kathmandu — Life insurance companies operating in Nepal generated NPR 120.72 billion in renewal premium income during the first ten months of fiscal year 2025/26 (2082/83).
According to financial data released by the Nepal Insurance Authority, the country’s 14 life insurers collectively earned NPR 120.716 billion in renewal premiums over the review period.
Compared with the same period of the previous fiscal year, renewal premium income increased by 10.31 percent. During the corresponding period a year earlier, life insurers had generated NPR 109.43 billion in renewal premiums.
The increase reflects continued expansion in the life insurance market, as growth in new policy sales has translated into a larger base of policies being renewed each year.
During the review period, Nepal Life Insurance and LIC Nepal recorded the highest renewal premium income in absolute terms, while Rastriya Jeevan Beema Company and IME Life Insurance posted the strongest growth rates.
By the end of the reporting period, Nepal Life Insurance remained the market leader, generating NPR 32.03 billion in renewal premiums. LIC Nepal followed with NPR 14.08 billion, while National Life Insurance collected NPR 13.99 billion and Himalayan Life Insurance reported NPR 12.59 billion in renewal premium income.
Among the faster-growing insurers, state-owned Rastriya Jeevan Beema Company increased renewal premiums by 18.26 percent to NPR 9.01 billion. SuryaJyoti Life grew by 12.74 percent to NPR 7.04 billion, while Asian Life Insurance increased by 9.11 percent to NPR 6.07 billion.
Meanwhile, Citizen Life Insurance recorded 15.62 percent growth, reaching NPR 4.57 billion in renewal premiums. Sanima Reliance Life Insurance expanded renewal income by 14.53 percent to NPR 4.35 billion, and MetLife Nepal increased by 8.39 percent to NPR 4.20 billion.
Among smaller and mid-sized players, IME Life Insurance posted one of the strongest performances, with renewal premiums rising 22.82 percent to NPR 3.57 billion. Prabhu Mahalaxmi Life Insurance grew by 14.42 percent to NPR 3.30 billion, Reliable Nepal Life Insurance by 18.36 percent to NPR 3.29 billion, and Sun Nepal Life Insurance by 17.29 percent to NPR 2.59 billion.
The latest figures suggest that while established insurers continue to dominate renewal collections through large existing policy bases, newer and mid-sized companies are gradually increasing their share through stronger growth in customer retention and policy renewals.