Nepal’s life insurance sector recorded strong business growth during the first eleven months of the current fiscal year, with all operating life insurers reporting higher premium collections compared to the same period last year.

According to data released by the Nepal Insurance Authority, the country’s 14 life insurance companies collectively generated Rs. 173.50 billion in insurance premiums from Shrawan to the end of Jestha.

During the same period in the previous fiscal year, total premium collection stood at approximately Rs. 154 billion.

With business volume approaching Rs. 175 billion, the sector posted an overall 12.62 percent year-on-year growth, reflecting continued expansion in Nepal’s insurance market.

All 14 Life Insurers Report Business Growth

The latest figures show that every life insurance company operating in Nepal achieved positive growth during the review period.

Among all insurers, IME Life Insurance emerged as the fastest-growing company in percentage terms.

Its premium business increased by 30.79 percent, reaching Rs. 6.17 billion, compared with Rs. 4.72 billion during the corresponding period last year.

Other strong performers included:

Citizen Life Insurance – Premium growth of 20.00%, reaching Rs. 7.59 billion
Reliable Life Insurance – Premium growth of 18.72%, reaching Rs. 5.41 billion
Rastriya Jeevan Beema Company – Growth of 17.93%
National Life Insurance – Growth of 17.49%
Prabhu Mahalaxmi Life Insurance – Growth of 14.88%
Sanima Reliance Life Insurance – Growth of 12.56%
Nepal Life Insurance – Growth of 12.53%

The broad-based expansion suggests rising insurance awareness and increasing participation across the life insurance industry.

Nepal Life Maintains Leadership in Total Business Volume

Despite stronger growth rates from some emerging players, Nepal Life Insurance retained its position as the market leader in total premium collection.

The company generated Rs. 46.16 billion in business during the eleven-month period.

Other major insurers by total premium volume included:

Nepal Life Insurance – Rs. 46.16 billion
National Life Insurance – Rs. 22.21 billion
Life Insurance Corporation (Nepal) – Rs. 18.48 billion
Himalayan Life Insurance – Rs. 15.79 billion
Rastriya Jeevan Beema Company – Rs. 10.62 billion
SuryaJyoti Life Insurance – Rs. 10.52 billion

Industry Momentum Continues

The continued increase in premium collection highlights the growing importance of life insurance as part of household financial planning and long-term savings.

Industry observers note that factors such as greater public awareness, expanding distribution channels, increasing digital adoption, and broader product availability have contributed to the sector’s recent growth.

As competition intensifies among insurers, maintaining growth while improving policy retention and service quality is expected to remain a key focus for the industry.

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