Fiscal Nepal
First Business News Portal in English from Nepal
KATHMANDU: Nepal’s life insurance industry has achieved remarkable growth, collecting over NPR 154.05 billion in total premiums during the first 11 months (up to Jestha) of the fiscal year 2024/25, according to data released by the Nepal Insurance Authority on June 29, 2025. The 14 life insurance companies operating in Nepal sold 13.836 million policies, reflecting a robust 10.33% growth in premiums compared to the previous year, signaling strong consumer confidence and a growing insurance market.
Leading the sector, Nepal Life Insurance topped the charts with NPR 41.02 billion in premium collections, reinforcing its position as the industry leader. National Life Insurance followed closely, securing NPR 18.90 billion, a 17.87% increase from last year. LIC Nepal ranked third, earning NPR 17.24 billion, up 8.49% from the previous fiscal year. Himalayan Life Insurance also performed strongly, collecting NPR 15.22 billion in premiums, highlighting the sector’s contribution to Nepal’s economic stability and financial security.
Other notable performers include SuryaJyoti Life Insurance with NPR 9.45 billion, Rastriya Jeevan Beema Company with NPR 9 billion, Asian Life Insurance with NPR 7.86 billion, and Citizen Life Insurance with NPR 6.32 billion. Sanima Reliance Life collected NPR 5.90 billion, MetLife earned NPR 5.54 billion, IME Life garnered NPR 4.72 billion, Reliable Nepal Life amassed NPR 4.55 billion, Prabhu Mahalaxmi Life secured NPR 4.54 billion, and Sun Nepal Life collected NPR 3.73 billion in premiums.
The surge in premium collections, coupled with a 7.92% increase in policy sales compared to the previous year, underscores the sector’s role in promoting financial literacy and security. This growth aligns with Nepal’s broader economic goals, complementing initiatives like Global IME Bank’s agricultural loan programs and Morang’s industrial strategies, enhancing the country’s appeal for business and tourism. With a projected market size of USD 2.17 billion in 2024, Nepal’s life insurance sector is poised for further expansion, driven by innovations like microinsurance and digital transformation.
For more details on insurance options or to explore Nepal’s financial landscape, visit the Nepal Insurance Authority’s website or contact leading insurers like Nepal Life Insurance.
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