Life Insurance Renewal Premiums Cross Rs 119.96 Billion in 11 Months of Current Fiscal Year

Kathmandu — Life insurance companies in Nepal have earned Rs 119.96 billion in renewal premiums over the first 11 months of the current fiscal year, reflecting a 13.11 percent increase compared to the same period last year. The data was released by the Nepal Insurance Authority on Sunday.

Nepal Life Insurance continues to lead the market, collecting the highest renewal premiums of Rs 32.79 billion, marking an 11.89 percent rise from the previous year. Following Nepal Life, LIC Nepal recorded a 7.27 percent increase in renewal premiums, totaling Rs 14.83 billion, while National Life Insurance saw a more robust growth of 18.36 percent, earning Rs 13.98 billion. Himalayan Life Insurance collected Rs 12.90 billion in renewal premiums, with a modest increase of 2.46 percent.

The most notable growth was recorded by Rastriya Jeevan Beema Company, which posted a 44.85 percent surge, earning Rs 7.89 billion, and Reliable Nepal Life, which saw a 23.68 percent increase, collecting Rs 3.01 billion.

Other companies also reported solid gains. Suryajyoti Life Insurance’s renewal premiums rose by 14.35 percent to Rs 6.85 billion, Asian Life Insurance increased by 10.42 percent to Rs 6.07 billion, and Citizen Life Insurance collected Rs 4.4 billion, reflecting a 19.30 percent rise. MetLife earned Rs 4.28 billion, up 9.13 percent, and Sanima Reliance Life collected Rs 4.19 billion, marking a 10.18 percent increase.

Among the mid-tier companies, IME Life collected Rs 3.18 billion, Prabhu Mahalaxmi Life earned Rs 3.15 billion, and Sun Nepal Life gathered Rs 2.37 billion in renewal premiums during the review period.