KATHMANDU, Nov 12: Nepali life insurance companies collected Rs 13.92 billion in premiums from the sale of insurance policies in the first three months of the current Fiscal Year (FY), marking a 39.89 percent increase compared to the same period last FY.
The premium collection was among the highest recorded in a first quarter. According to the Nepal Insurance Authority (NIA), premiums collected between mid-July and mid-October this year amounted to 96.33 percent of the total premiums collected during the corresponding periods of the past four years.
Insurers witness double-digit growth in business in six months
The NIA reported that 14 life insurance companies collected Rs 12.75 billion in first premiums. Additionally, three micro-life insurance companies collected Rs 300 million, while the Foreign Employment Term Life Insurance Pool contributed Rs 860 million.
Trends over the past four years show that the first quarter typically sees higher volumes of policy renewals and new policy purchases than other periods. However, the recent increase in premium collection was higher than anticipated.
Life insurers collected Rs 7.09 billion in first premiums in FY 2022/23, followed by Rs 6.71 billion in FY 2023/24 and Rs 7.53 billion in the corresponding period of FY 2024/25. The figure rose to Rs 9.95 billion in the first quarter of FY 2025/26.
