Life Insurance Business Exceeds Growth in Nepal

In the first six months of this year, life insurance companies in Nepal have collected around NPR 74.22 billion in insurance premiums, up from NPR 71.65 billion during the same period last year. This indicates a successful business trend in the life insurance sector, surpassing NPR 20 billion. The top collector, Nepal Life Insurance Company, gathered NPR 20.2 billion, while LIC Nepal and National Life Insurance collected NPR 8.62 billion and NPR 8.56 billion, respectively.

Despite economic challenges, the insurance sector, especially life insurance, has shown resilience and growth. The head of the regulatory authority, Rajuraman Paudel, expects this positive trend to continue, driven by new micro-insurance companies, changes in government policies, and increased public awareness about the benefits of insurance. Paudel believes that the appeal of insurance to the general public is a significant factor contributing to the sector's expansion.