Life Insurers Grow Premium Income 12.4%; IME Life and Citizen Lead Growth
Kathmandu — Nepal’s life insurance industry posted solid growth in the last fiscal year, with total gross written premiums rising 12.43 percent year-on-year to NPR 200.19 billion, according to data released by the Nepal Insurance Authority.
The country’s 14 life insurers collectively generated NPR 177.91 billion in premiums in the fiscal year 2024/2025 (2081/82), meaning the industry added more than NPR 22 billion in new business over the past year.
While Nepal Life Insurance and National Life Insurance remained the market leaders by premium volume, IME Life Insurance and Citizen Life Insurance recorded the strongest growth rates among all life insurers.
Nepal Life retained its position as the country’s largest life insurer after increasing its premium income by 12.34 percent to NPR 53.68 billion.
National Life ranked second with NPR 24.68 billion in premium income, up 11.06 percent from the previous fiscal year. LIC Nepal followed in third place, posting a 6.57 percent increase to NPR 21.23 billion.
Among the other major insurers, Himalayan Life Insurance reported premium income of NPR 18.56 billion, up 5.16 percent year-on-year. SuryaJyoti Life Insurance grew by 16.59 percent to NPR 12.90 billion, while Asian Life Insurance expanded its business by 13.53 percent to NPR 10.43 billion.
Rastriya Jeevan Beema Company, the state-owned life insurer, was the only company to report a decline in business. Its premium income fell 2.29 percent to NPR 9.64 billion.
Among the mid-sized insurers, Citizen Life Insurance recorded one of the strongest performances, with premium income surging 24.93 percent to NPR 9.16 billion. Sanima Reliance Life Insurance grew 16.99 percent to NPR 7.99 billion.
IME Life Insurance emerged as the fastest-growing life insurer during the year. The company’s premium income jumped 37.96 percent to NPR 7.45 billion.
Meanwhile, MetLife Nepal increased its premium income by 9.62 percent to NPR 6.86 billion. Reliable Nepal Life Insurance posted 24 percent growth to NPR 6.42 billion, while Prabhu Mahalaxmi Life Insurance expanded by 21 percent to NPR 6.33 billion. Sun Nepal Life Insurance also recorded healthy growth, with premium income rising 16.80 percent to NPR 4.63 billion.