Life Insurance Companies Report Rs. 12.31 Billion in Monthly Business

Kathmandu – Nepal’s life insurance sector has achieved remarkable growth, reporting a business turnover of Rs. 12.31 billion in just one month. According to data from the Nepal Insurance Authority, this marks a 42.60% increase compared to the same period last year, when companies earned Rs. 8.63 billion in premiums during the month of Kartik (Mid-October to Mid-November).

All 14 operating life insurance companies saw a surge in business. Nepal Life Insurance led the market with a turnover of Rs. 3.41 billion, a 37.41% rise compared to the previous year. National Life Insurance followed in second place, earning Rs. 1.53 billion, reflecting a 39.17% increase. LIC Nepal ranked third with Rs. 1.48 billion, growing by 40.15%, while Himalayan Life secured fourth place, recording Rs. 1.27 billion, a 29.09% rise from last year.

Prabhu Mahalaxmi Life Insurance demonstrated the most impressive growth, with its business expanding by 74% to Rs. 387 million. Citizen Life also posted significant growth, increasing its turnover by 58% to Rs. 448.9 million. Similarly, SuryaJyoti Life experienced a 64.35% increase, earning Rs. 751.9 million, while Reliable Nepal Life saw its business grow by 75% to Rs. 350 million.

Other companies also performed strongly, including Asian Life, which earned Rs. 706.7 million, reflecting a 42.44% increase, and Sanima Reliance, which recorded Rs. 487.2 million, a 29.33% growth. MetLife saw a 24.18% increase, earning Rs. 430 million, Rastriya Jeevan Beema Company saw 113% growth with Rs. 371.1 million and IME Life and Sun Nepal Life reported growth rates of 58.24% and 44.22%, respectively.