Fiscal Nepal
First Business News Portal in English from Nepal
KATHMANDU: Nepal’s life insurance sector has recorded a robust profit of NPR 4.88 billion in the third quarter of fiscal year 2081/82 (2024/25), marking an 11.93% increase compared to NPR 4.36 billion in the same period last year. The 14 life insurance companies collectively earned a net profit of NPR 4,887.29 million, reflecting steady growth in the sector, according to financial statements released on Monday.
Nepal Life Insurance led the pack, posting the highest profit at NPR 652.22 million by the end of Chaitra (March/April 2025), up from NPR 600.36 million the previous year. However, Asian Life Insurance recorded the highest profit growth, soaring 59.50% to NPR 334.72 million from NPR 209.84 million last year. Other notable performers include Reliable Nepal Life, with a 36.87% rise to NPR 465.77 million, Suryajyoti Life, up 31.89% to NPR 295.75 million, and American MetLife, which saw a 27.60% increase to NPR 345.11 million.
Additional companies reporting profit growth include Citizen Life, up 27.13% to NPR 357.65 million, Life Insurance Corporation Nepal (LIC), up 22.65% to NPR 236.02 million, and Sanima Reliance, with a 10.76% rise to NPR 337.66 million. IME Life’s profit grew 10.48% to NPR 366.33 million, Himalayan Life’s by 8.49% to NPR 472.40 million, National Life’s by 5.18% to NPR 408.52 million, and Prabhu Mahalaxmi Life’s by a modest 0.67% to NPR 270.72 million.
However, not all companies saw gains. Rastriya Jeevan Beema Company’s profit dropped sharply by 37.10% to NPR 15.42 million, and Sun Nepal Life’s fell 33.35% to NPR 328.99 million, highlighting challenges faced by some players in the sector.
The overall profit growth reflects the life insurance sector’s resilience amid Nepal’s economic conditions, driven by increasing demand for insurance products and improved operational efficiencies among leading companies. However, the declines faced by Rastriya Jeevan Beema and Sun Nepal Life signal underlying issues that may require strategic adjustments to sustain growth.
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