Term Life Insurance Dominates Market with 49% Share of Business

Kathmandu — Life insurance companies conducted more than NPR 26.62 billion worth of insurance business in the first month of the current fiscal year 2026/27, July. According to data published by the Nepal Insurance Authority, 14 operating life insurance companies collected a total of NPR 26.62 billion in premiums in July through various types of insurance policies. The Authority has published details of life insurance business by province and policy type.

According to the Authority’s data, term life insurance accounted for the largest share of total premium income. Insurers collected NPR 13.19 billion from term life insurance alone in July, representing approximately 49.56 percent of total premiums.

Similarly, insurers collected NPR 4.844 billion from advance-payment term life insurance, NPR 2.79 billion from convertible term life insurance, and NPR 3.55  billion from child-related term life insurance.

Likewise, the data shows that NPR 294.96 million was collected from foreign employment term life insurance, NPR 1.52 billion from whole life insurance, and NPR 715.23 million from single-premium life insurance.

Premium collection from other categories stood at NPR 124.042 million for term life insurance, NPR 253.42 million for micro life insurance, and NPR 323.35 million for other life insurance products.

Bagmati Leads in Provincial Business

In terms of provincial business, Bagmati Province led the life insurance market in July. A total of NPR 13.11 billion in premiums was collected in Bagmati Province through various types of life insurance policies.

This was followed by Lumbini Province with NPR 3.64 billion, Koshi Province with NPR 3.08 billion, Gandaki Province with NPR 2.53 billion, and Madhesh Province with NPR 2.12 billion in premium collection.

Similarly, insurers collected NPR 1.37 billion in premiums from Sudurpashchim Province and NPR 745.35 million from Karnali Province, according to the data.