Fiscal Nepal
First Business News Portal in English from Nepal
KATHMANDU: Nepal’s non-life insurance sector recorded premium earnings of more than Rs 12.92 billion in the first three months of the current fiscal year 2082/83, reflecting steady growth in general insurance demand across the domestic market despite broader economic constraints.
According to industry data, 14 non-life insurance companies collectively issued 788,613 insurance policies by the end of Ashoj, generating a total premium income of Rs 12.92 billion. In Ashoj alone, the companies sold 290,305 policies, contributing Rs 4.63 billion to the quarter’s business volume.
Among the insurers, Sagarmatha Lumbini Insurance (SALICO) emerged as the top performer in total premium collection. The company issued 65,102 policies and generated Rs 1.49 billion in premiums during the review period. SALICO alone collected Rs 603.8 million in Ashoj, strengthening its position in Nepal’s general insurance market.
Shikhar Insurance ranked second, selling 79,440 policies and posting Rs 1.38 billion in total premiums. Close behind, Siddhartha Premier Insurance reported the third-highest business, issuing 70,630 policies and earning Rs 1.22 billion in premiums.
Other major performers included:
Similarly, Neco Insurance collected Rs 928.3 million, United Ajod Insurance Rs 882.9 million, Oriental Insurance Rs 788.5 million, Nepal Insurance Rs 706.2 million, and Sanima GIC Insurance Rs 681.8 million. Meanwhile, Prabhu Insurance, National Insurance, and Rastriya Beema Company posted collections of Rs 505.6 million, Rs 428.4 million, and Rs 414.1 million respectively.
In the micro-insurance category, Nepal Micro Insurance led with Rs 70.3 million, followed by Protective Micro (Rs 69.9 million), Trust Micro (Rs 69.5 million), and Star Micro (Rs 52.2 million).
Industry observers note that the general insurance market continues to expand due to increased uptake in health, vehicle, property, and corporate risk coverage, though overall growth remains linked to Nepal’s broader economic recovery and regulatory reforms.
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