Life Insurance Companies Collect Over NPR 63 Billion in Renewal Premiums in Six Months

Kathmandu – Life insurance companies in Nepal earned over NPR 63 billion in renewal insurance premiums in the first six months of the current fiscal year 2081/082. According to the Nepal Insurance Authority, 14 life insurance companies operating in the country collectively generated NPR 63.38 billion by the end of the second quarter, reflecting a 4.90 percent increase compared to the same period last fiscal year, when the figure stood at NPR 60.40 billion.

Nepal Life Insurance Company led the sector by collecting NPR 18.36 billion in renewal premiums, an increase of 8.85 percent. LIC Nepal followed with NPR 8.12 billion, registering a 7.26 percent growth, while National Life Insurance recorded an 8.80 percent rise, reaching NPR 7.15 billion in renewal premiums.

Reliable Nepal Life showed the highest growth rate among all insurers, with its renewal premium income surging by 28.33 percent to NPR 1.65 billion, compared to NPR 1.28 billion in the previous fiscal year. Himalayan Life Insurance saw a slight increase of 0.25 percent, earning NPR 7.05 billion in renewal premiums. SuryaJyoti Life collected NPR 3.74 billion, reflecting a 13.01 percent rise, while Asian Life generated NPR 3.29 billion, achieving an 11.82 percent increase.

Citizen Life and Sanima Reliance Life also demonstrated strong growth, earning NPR 2.38 billion and NPR 2.36 billion, representing increases of 22.72 percent and 10.66 percent, respectively. Similarly, MetLife’s renewal premium rose by 7.62 percent to NPR 2.24 billion, and IME Life recorded an 18.45 percent growth with earnings of NPR 1.70 billion.

On the other hand, Rastriya Jeevan Beema Company experienced a significant decline of 49.35 percent in its renewal premium income, standing at NPR 2.24 billion.