Life Insurance Companies Earn Rs 53.69 Billion Across Nepal

Kathmandu – Life insurance companies operating in Nepal have collectively earned Rs 53.69 billion across all seven provinces as of Kartik month this fiscal year. This revenue stems from various insurance categories, including term insurance, advance payment term insurance, child-related term insurance, foreign employment term insurance, whole life insurance, single premium insurance, and other life insurance products.

Bagmati Province has emerged as the leading contributor, with companies generating Rs 22.99 billion in revenue. The province’s dominance is attributed to the presence of the nation’s capital and its advanced infrastructure, which has enabled higher insurance penetration.

Lumbini Province stands second, with business worth Rs 8.46 billion, reflecting significant growth in the region. Koshi Province follows with Rs 6.7 billion in revenue, indicating steady performance in the eastern region of the country.

In Gandaki Province, life insurance companies earned Rs 5.65 billion, while Madhesh Province contributed Rs 4.9 billion. These figures demonstrate consistent efforts by insurers to expand their reach in these areas.

Sudurpaschim Province recorded a business volume of Rs 3.34 billion. Karnali Province, despite being geographically remote and underdeveloped in terms of infrastructure, managed to generate Rs 1.63 billion.