Kathmandu — The business volume of non-life insurance companies in Nepal has reached close to Rs 19.5 billion, according to the latest data published by the Nepal Insurance Authority.
As of mid-Mangsir (November) of the current fiscal year, total insurance premiums collected by non-life insurers stood at Rs 19.48 billion, reflecting steady growth in the sector.
Top companies by insurance premium collection
According to the Authority’s data, Sagarmatha Lumbini Insurance has emerged as the largest non-life insurer in terms of premium collection during the review period. The company collected Rs 2.21 billion in insurance premiums.
Shikhar Insurance ranked second, earning a total premium of Rs 2.15 billion, followed by Himalayan Everest Insurance in third place with Rs 2.00 billion in premiums.
Siddhartha Premier Insurance secured the fourth position, collecting Rs 1.86 billion during the same period.
Mid-tier insurers strengthen market presence
Among other non-life insurers:
IGI Prudential Insurance collected Rs 1.66 billion
NLG Insurance earned Rs 1.57 billion
Neco Insurance recorded premiums of Rs 1.43 billion
United Ajod Insurance collected Rs 1.31 billion
Sanima GIC Insurance earned Rs 1.22 billion
Oriental Insurance collected Rs 1.11 billion
These companies together account for a significant share of the overall non-life insurance market.
Lower premium collection among smaller and state-owned insurers
In the lower tier:
Nepal Insurance Company collected approximately Rs 1.10 billion
Prabhu Insurance earned Rs 798.5 million
National Insurance collected Rs 606.8 million
Meanwhile, the government-owned National Insurance Company Limited recorded the lowest premium collection, with total earnings of Rs 493 million during the period.
Sector outlook
Insurance analysts note that the data reflects increasing penetration of non-life insurance products, particularly in motor, property, and engineering insurance segments. However, market concentration remains high, with a few large players dominating premium collections.
The Nepal Insurance Authority is expected to release further updates as companies move deeper into the second half of the fiscal year.
