Life Insurance Companies Garner Over Rs 65.5 Billion in Premiums in Five Months

Kathmandu – Nepal’s life insurance sector has demonstrated remarkable growth, accumulating a total premium of Rs 65.74 billion in the first five months of the current fiscal year, according to the Nepal Insurance Authority’s latest data.

Nepal Life Insurance Company has maintained its market dominance, leading the industry with a total premium collection of Rs 18.76 billion.

Trailing behind, National Life Insurance Company secured the second position, earning a premium of Rs 7.98 billion. LIC Nepal claimed the third spot with Rs 7.66 billion, while Himalayan Life Insurance followed closely in fourth place with Rs 6.79 billion.

Other key players in the industry include SuryaJyoti Life, which earned Rs 3.99 billion, Asian Life with Rs 3.33 billion, Citizen Life at Rs 2.65 billion, and Sanima Reliance Life with Rs 2.59 billion in premiums.

Additionally, MetLife earned Rs 2.33 billion, while Rastriya Jeevan Beema Company collected Rs 2.25 billion. Prabhu Mahalaxmi Life and Reliable Nepal Life garnered Rs 1.94 billion and Rs 1.92 billion, respectively. IME Life and Sun Nepal Life rounded out the list with premiums of Rs 1.89 billion and Rs 1.57 billion.