Insurers Spend NPR 12.55 Billion on Employee Benefits, Himalayan Life and Siddhartha Premier Lead

Kathmandu — Nepal’s life and non-life insurance companies spent more than NPR 12.55 billion on employee benefits during fiscal year 2025/26 (2082/83), according to their fourth-quarter financial statements.

The 28 insurance companies spent a combined NPR 12.56 billion on employee benefits, an increase of around 3.45 percent from the previous fiscal year.

Life insurers spend over NPR 7 billion

The 14 life insurance companies spent a combined NPR 7.00 billion on employee benefits, up 5.05 percent from NPR 6.67 billion a year earlier.

Himalayan Life Insurance had the highest employee-related expenses among life insurers, spending NPR 902.7 million. Nepal Life followed with NPR 839.8 million, while SuryaJyoti Life spent NPR 685.5 million.

Reliable Nepal Life recorded the highest percentage increase in employee expenses, with spending rising 34.47 percent from the previous year. However, six life insurers, including Nepal Life, MetLife and Rastriya Jeevan Beema Company, recorded declines in employee-related expenses.

Siddhartha Premier leads among non-life insurers

The 14 non-life insurance companies spent a combined NPR 5.55 billion on employee benefits during the year, a marginal 1.49 percent increase from NPR 5.47 billion in the previous fiscal year.

Siddhartha Premier Insurance had the highest employee expenses at NPR 686.4 million. Shikhar Insurance ranked second with NPR 623.1 million, followed by Sagarmatha Lumbini Insurance (SALICO) with NPR 553.3 million.

Oriental Insurance recorded the largest percentage increase, with employee expenses rising 71.59 percent from the previous year. In contrast, seven non-life insurers, including National Insurance, Rastriya Beema Company and United Ajod Insurance, reduced their employee benefit expenses.