Life Insurance Companies Collect Over Rs 99 Billion in Renewal Premiums in Q3 of FY 2081/82

Kathmandu – Nepal’s life insurance sector has witnessed notable growth in renewal premium income, with life insurers collecting more than Rs 99.55 billion during the first nine months of the current fiscal year 2081/82, according to the Nepal Insurance Authority. This marks a 12.33 percent increase compared to the same period last fiscal year, when renewal premium collections totaled Rs 88.61 billion.

Nepal Life Insurance Company remains the industry leader in renewal premium income. The company collected Rs 26.76 billion in the review period, registering an annual increase of 8.61 percent.

LIC Nepal followed with Rs 12.14 billion in renewal premiums, reflecting a 7.26 percent rise, while National Life Insurance earned Rs 11.80 billion, an impressive 22.05 percent growth year-on-year. Himalayan Life Insurance reported a modest increase of 0.34 percent, bringing its total renewal income to Rs 10.72 billion.

Among the highest growth performers, Reliable Nepal Life Insurance reported a 24.83 percent increase in renewal premiums, collecting Rs 2.50 billion. Similarly, the government-owned Rastriya Jeevan Beema Company earned Rs 7.1 billion, a 42.50 percent jump from the previous fiscal year.

Other companies also demonstrated steady progress. SuryaJyoti Life Insurance collected Rs 5.64 billion (up 13.64 percent), Asian Life earned Rs 5.05 billion (up 10.36 percent), and Citizen Life brought in Rs 3.57 billion (up 20.99 percent). Sanima Reliance Life reported Rs 3.47 billion, showing a 12.78 percent increase, while MetLife recorded Rs 3.45 billion, up 8.29 percent.

During the same period, IME Life collected Rs 2.62 billion in renewal premiums, Prabhu Mahalaxmi earned Rs 2.59 billion, and Sun Nepal Life reported Rs 2 billion.