The life insurance sector in Nepal has witnessed significant growth, with total business increasing by 10.33% as of the end of Falgun in the current fiscal year. According to data released by the Nepal Insurance Authority, the 14 life insurance companies in the country have collected insurance premiums worth Rs. 108.71 billion so far. This marks an increase of Rs. 10.17 billion compared to the same period last year, when total premiums stood at Rs. 98.53 billion.
Nepal Life Insurance leads the industry with the highest business volume, reaching Rs. 29.39 billion—an 11.78% increase from the previous year. Similarly, National Life Insurance recorded a 17.87% growth, collecting Rs. 13.62 billion in premiums. LIC Nepal followed with an 8.49% increase, reaching Rs. 12.56 billion.
Himalayan Life Insurance saw only a slight increase, with its total business reaching Rs. 11.22 billion. Surya Jyoti Life recorded a strong 17.29% growth, reaching Rs. 6.69 billion, while Asian Life Insurance’s business grew by 10.46% to Rs. 5.69 billion.
Reliable Nepal Life posted the highest growth rate, with a 20.66% increase, bringing its premium collection to Rs. 3.17 billion. Citizen Life Insurance also expanded rapidly, growing by 20.66% to Rs. 4.49 billion. However, state-owned Rastriya Beema Company saw a 14.38% decline, with its total business dropping to Rs. 4.47 billion.
This consistent growth highlights the increasing demand for life insurance in Nepal, with companies aggressively expanding their business.
