Life Insurance Business Crosses Rs 154 billion in 11 Months

Kathmandu — Nepal’s life insurance sector has recorded a total business of over Rs 154 billion in insurance premiums during the first eleven months of the current fiscal year, according to data released by the Nepal Insurance Authority.

The figure represents the combined premium income of 14 life insurance companies operating in the country by the end of the month of Jestha, 2082.

Nepal Life Insurance continues to lead the market, generating a total insurance premium of Rs 41.02 billion. National Life Insurance holds the second position with Rs 18.90 billion in premium income, followed by LIC Nepal with Rs 17.24 billion in third place.

Himalayan Life Insurance stands fourth with Rs 15.22 billion, while Suryajyoti Life has collected Rs 9.45 billion in premiums. The state-owned Rastriya Jeevan Beema Company follows closely with Rs 9 billion.

Other companies have also shown steady performance. Asian Life earned Rs 7.86 billion, Citizen Life Rs 6.32 billion, Sanima Reliance Life Rs 5.90 billion, and Met Life Rs 5.54 billion. IME Life generated Rs 4.72 billion, Reliable Nepal Life Rs 4.55 billion, Prabhu Mahalaxmi Life Rs 4.54 billion, and Sun Nepal Life Rs 3.73 billion.