KATHMANDU, Dec 3: Nepali non-life insurance companies collected a premium of Rs 15.84 billion in the first four months of the current Fiscal Year (FY), a 12.44 percent increase compared to the same period in FY 2024/25.
The records with the Nepal Insurance Authority (NIA) show that a total of 14 non-life insurers were able to secure Rs 1.75 billion more in premium collection in the review period this FY. During mid-July and mid-November last year, the premium collection stood at Rs 14.09 billion.
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The non-life insurers sold 903,098 units of insurance policies to their clients, up from 897,235 units in the review period. According to an official of Sagarmatha Lumbini Insurance Company, an attraction towards insuring the private property has increased after the incidents of Gen Z movement and violence.
Among the individual insurers, Sagarmatha Lumbini Insurance led in terms of business growth. The company collected insurance premiums worth Rs 1.78 billion, an increase from Rs 1.77 billion in the review period last year. Shikhar Insurance with a premium collection of Rs 1.73 billion was second in the row, followed by Crest Himalayan Everest Insurance with Rs 1.60 billion and Siddhartha Premier Insurance with a premium collection of Rs 1.54 billion.
Meanwhile, the life insurance companies carried out their business worth Rs 63.72 billion during mid-July and mid-November this year. Nepal Life Insurance Company sold policies of Rs 17.09 billion, the largest of all. Similarly, National Life sold its policies of Rs 7.47 billion, Life Insurance Corporation Nepal of Rs 6.46 billion and Himalayan Life Insurance witnessed its business worth Rs 5.64 billion in the review period.
