Despite a sluggish overall economy, non-life insurance companies in Nepal have recorded notable business growth in the first five months of the current fiscal year (FY) 2025/26. During this period, insurers collected premiums totaling Rs 19.58 billion, marking a 14.4 percent increase compared to the same period last year.
The number of active insurance policies also rose by 5.95 percent, increasing from 1.27 million last year to 1.34 million this year. Most non-life insurers reported positive growth, with the exception of Rastriya Beema Company and Oriental Insurance. Sagarmatha Lumbini Insurance emerged as the largest premium collector during the period.
The increase in premium collection comes despite challenges such as natural disasters, strikes, and broader economic pressures, reflecting the sector’s resilience and a growing demand for insurance services across the country.
Among individual companies, Sagarmatha Lumbini Insurance collected the highest premium of Rs 2.22 billion, a marginal increase of 0.88 percent from Rs 2.20 billion in the previous fiscal year. Shikhar Insurance followed with Rs 2.15 billion, posting a strong growth of 23.41 percent from Rs 1.74 billion. Himalayan Everest Insurance recorded one of the highest growth rates, with premiums rising by 43.26 percent to Rs 2.01 billion from Rs 1.40 billion last year.
Siddhartha Premier Insurance collected Rs 1.87 billion, reflecting a 5.48 percent increase, while IGI Prudential Insurance reported Rs 1.67 billion, up 14.65 percent. NLG Insurance and United Ajod Insurance also posted robust growth of 39.6 percent and 27.95 percent, collecting Rs 1.58 billion and Rs 1.31 billion, respectively. Sanima GIC recorded Rs 1.22 billion in premiums, a rise of 22.46 percent, and Neco Insurance saw a modest increase of 2.16 percent to Rs 1.43 billion.
Nepal Insurance Company collected Rs 1.02 billion, up 7.68 percent, while Prabhu Insurance increased its premiums by 4.14 percent to Rs 798.6 million. National Insurance recorded Rs 606.8 million, representing an 11.66 percent growth.
In contrast, Oriental Insurance and Rashtriya Insurance experienced declines in premium collection. Oriental Insurance’s premiums fell by 0.87 percent to Rs 1.12 billion, while Rashtriya Insurance saw a sharper drop of 26.53 percent, collecting Rs 493 million during the period.
