Life insurance companies in Nepal have ended the last fiscal year on a strong note, with total premium collections reaching Rs 1.81 trillion. This marks a healthy growth of 16.05% compared to the previous year’s Rs 1.56 trillion, according to Nepal Insurance Authority. The rise shows more people are choosing life insurance and companies are expanding their reach.
Top earner of the year was Nepal Life Insurance, which collected Rs 48.03 billion in premiums, holding over a quarter of the market share. National Life Insurance followed with Rs 22.42 billion, while Life Insurance Corporation of Nepal came third with Rs 19.92 billion. Other major players like Himalayan Life, Surya Jyoti Life, and Asian Life also posted solid numbers.
Sun Nepal Life Insurance stood out for having the highest growth rate, increasing its premium collection by 28.80% compared to the previous year. Reliable Nepal Life (25.55%) and Asian Life (27.23%) also recorded strong jumps.
Premium Collection of Life Insurance Companies (Amount in Lakh)
| Company | F/Y 2081-82 | F/Y 2080-81 | Growth % |
|---|---|---|---|
| Nepal Life Insurance | 480,380.15 | 408,505.72 | 17.59 |
| National Life Insurance | 224,244.97 | 192,035.59 | 16.77 |
| Life Insurance Corporation | 199,255.87 | 181,075.07 | 10.04 |
| Himalayan Life | 176,607.97 | 166,080.06 | 6.34 |
| Surya Jyoti Life Insurance | 111,873.51 | 95,007.20 | 17.75 |
| Asian Life Insurance | 102,484.46 | 80,548.71 | 27.23 |
| Rastriya Jeevan Beema Company | 98,566.16 | 87,148.91 | 13.10 |
| Citizen Life Insurance | 75,113.19 | 62,153.39 | 20.85 |
| Sanima Reliance Life Insurance | 70,069.00 | 61,890.63 | 13.21 |
| Met Life Insurance | 62,583.86 | 56,789.36 | 10.22 |
| IME Life Insurance BeemaPost | 56,527.36 | 47,412.03 | 19.23 |
| Prabhu Mahalaxmi Life Insurance | 53,701.19 | 43,723.89 | 22.82 |
| Reliable Nepal Life Insurance | 52,845.99 | 42,090.01 | 25.55 |
| Sun Nepal Life Insurance | 50,045.49 | 38,854.15 | 28.80 |
| Total | 1,814,299.17 | 1,563,314.72 | 16.05 |
This steady growth across all companies points to a stronger insurance sector in Nepal, where competition is pushing firms to expand their customer base and improve services.
