Life Insurance Companies Collect Rs 109 Billion in Renewal Premiums in 10 Months

Kathmandu — Nepal’s life insurance sector continues to show strong performance, with renewal premiums crossing Rs 109.43 billion in the first ten months of the current fiscal year.

According to data released by the Nepal Insurance Authority, a total of 14 life insurance companies currently in operation have collectively earned this amount through policy renewals up to the end of Baisakh month (mid-May).

Nepal Life Insurance Company remains in the lead in terms of renewal premium income. The company collected Rs 29.47 billion. LIC Nepal follows in second position, earning Rs 13.43 billion in renewal premiums during the ten-month period.

In third place is National Life Insurance Company, which has collected Rs 12.9 billion in renewal premiums.  Himalayan Life Insurance ranks fourth in renewal premium income, having earned Rs 11.73 billion followed by Rastriya Jeevan Beema Company with Rs 7.6 billion.