Life Insurers' Total Business Reaches NPR 40.54 Billion; Nepal Life Tops the List
By the end of Bhadra in FY 2082/83, life insurance companies have sold 483,664 policies and collected NPR 40.54 billion in premiums. Nepal Life Insurance leads with NPR 10.58 billion.
Kathmandu — By the month of Bhadra in the fiscal year 2082/83, life insurance companies have collected a total premium of NPR 40.54 billion (40 arba 54 crore 14 lakh). According to the Nepal Insurance Authority, a total of 483,664 insurance policies have been sold during this period.
Nepal Life Insurance is at the forefront of the market, earning NPR 10.58 billion (10 arba 58 crore 8 lakh) in premiums. National Life holds the second position with NPR 4.85 billion, followed by Rastriya Jeevan Beema in third with NPR 4.41 billion.
The total premium collection of other companies is as follows:
- LIC Nepal: NPR 3.67 billion
- Himalayan Life: NPR 3.59 billion
- Suryajyoti Life: NPR 2.46 billion
- Asian Life: NPR 1.82 billion
- Citizen Life: NPR 1.69 billion
- IME Life: NPR 1.48 billion
- Sanima Reliance Life: NPR 1.42 billion
- Prabhu Mahalaxmi Life: NPR 1.27 billion
- Reliable Nepal Life: NPR 1.26 billion
- Met Life: NPR 1.19 billion
- Sun Nepal Life: NPR 777.2 million (77 crore 72 lakh)
This data highlights the dominance of Nepal Life in the life insurance sector, with a market share of approximately 26 percent.