Insurers expanded their business by 15.15 percent over the first four months of the current fiscal year 2025/26. According to the Nepal Insurance Authority (NIA), non-life insurance and life insurance companies collected a combined Rs 78.05m in premiums in the review period, up from Rs 67.78bn in the same period of the previous fiscal year.
Data shows both life and non-life insurers expanded their business compared to the same period in the previous fiscal year. Premium collection by life insurance grew by 16.51 percent in the review period, while non-life premiums increased by 12.42 percent .
According to the NIA, life insurance companies collected Rs 62.21bn in total premiums between mid-July and mid-November. This marks a significant rise from Rs 53.69bn recorded during the same period last fiscal year, representing a growth of 16.51 percent.
Renewal premiums made up a major portion of the life insurance business. By mid-November in the current fiscal year, life insurers earned Rs 49.49bn in renewal premiums alone. Nepal Life led the market with Rs 13.33bn in renewal income. National Life, LIC Nepal and Himalayan Life were next with Rs 5.58bn, Rs 5.53bn and Rs 4.95bn in renewal premiums, respectively.
Other top performers included Surya Jyoti Life (Rs 2.8bn), Asian Life (Rs 2.36bn), and Citizen Life (Rs 1.92bn). Likewise, Sanima Reliance earned Rs 1.73bn, MetLife Rs 1.62bn, Prabhu Mahalaxmi Life Rs 1.37bn, IME Life Rs 1.36bn, Reliable Nepal Life Rs 1.32bn, and Sun Nepal Life Rs 1.01bn.
Non-life companies also maintained solid momentum with a total premium of Rs 15.84bn. Sagarmatha Insurance topped the segment list with premium of Rs 1.78bn, closely followed by Shikhar Insurance with Rs 1.73bn, and Himalayan Everest Insurance with Rs 1.6bn.
Non-life companies had collected Rs 14.09bn in premiums in the first four months of the previous fiscal year. While premiums increased, the total number of active policies in life insurance declined. In the last fiscal year, life insurers had 13.3m active policies by mid-November. This year, the number dropped to 11.4m, suggesting that some policies matured, or some policyholders discontinued or failed to renew their plans.
In contrast, non-life insurers recorded growth in both premium income and policy issuance. They issued 903,098 policies in the first four months of 2025/26, up from 897,235 last year.
