Life Insurance Premiums Surge by 51.24 Percent in Nine Months

Kathmandu – Life insurance companies in Nepal have witnessed a significant rise in premium collection by the end of Chaitra month of the current fiscal year, earning a total of Rs 17.46 billion. This marks a 51.24 percent increase compared to the same month last year, when it recorded Rs 11.55 billion in premiums.

Among them, Rastriya Jeevan Beema Company, a government-owned entity, emerged as the top performer for the month. The company collected Rs 3.68 billion in premiums, which is an astonishing 1,441.51 percent rise compared to the same period in the previous fiscal year.

Nepal Life Insurance stood second in terms of overall business, recording Rs 3.61 billion in premiums which is an increase of 14.74 percent from the Rs 3.15 billion it had earned in the same month last year. Likewise, National Life Insurance reported Rs 2.01 billion in premiums, up by 50.52 percent compared to last year’s figures for the same month.

Other companies also recorded substantial earnings. LIC Nepal collected Rs 1.47 billion, while Himalayan Life Insurance brought in Rs 1.37 billion. SuryaJyoti Life earned Rs 962.9 million, followed by Asian Life with Rs 766 million and Citizen Life with Rs 597.1 million.

Met Life Nepal, a foreign joint venture, earned Rs 563.1 million, while Sanima Reliance Life brought in Rs 553.9 million. Reliable Nepal Life collected Rs 515.2 million, IME Life Rs 485.2 million, Prabhu Mahalaxmi Life Rs 477.6 million, and Sun Nepal Life closed the month with Rs 382.5 million in premium income.

The surge is attributed to a growing awareness of life insurance, market expansion, and increased activity by insurers. According to data published by the Nepal Insurance Authority, all 14 operating life insurance companies recorded notable growth, with some showing exponential performance gains.