Life Insurance Companies Earn Rs 27.45 Billion in First Premiums

Kathmandu – Life insurance companies operating in Nepal have earned a total of Rs 27.45 billion in first premiums by the end of Baisakh (mid-May), marking a strong inflow of new insurance business during the first ten months of the current fiscal year, according to the data released by the Nepal Insurance Authority.

Among the insurers, Nepal Life Insurance Company leads in attracting new business, collecting Rs 6.83 billion in first premiums. In second place is National Life Insurance Company, which has managed to bring in Rs 4.09 billion in first premiums during the same period. LIC Nepal follows in third, having collected Rs 2.13 billion in first premiums by the end of the month.

Other life insurers have also contributed significantly to the overall figure. SuryaJyoti Life Insurance earned Rs 2.05 billion, while Himalayan Life Insurance collected Rs 1.92 billion in first premiums. Citizen Life Insurance brought in Rs 1.54 billion, and Asian Life Insurance followed with Rs 1.39 billion. Sanima Reliance Life Insurance earned Rs 1.33 billion, while Reliable Nepal Life brought in Rs 1.18 billion, and MetLife recorded Rs 1.11 billion in first premium income.

Meanwhile, Prabhu Mahalaxmi Life Insurance earned Rs 1.07 billion, and IME Life Insurance brought in Rs 1.03 billion during the ten-month period. Rastriya Jeevan Beema Company earned Rs 920 million, and Sun Nepal Life Insurance followed with Rs 805.3 million in first premium collections.