Finance:List of insurance companies in Nepal

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Insurance companies in Nepal are regulated by Nepal Beema Pradhikaran (Nepal Insurance Authority), an arm of Nepal Government's Ministry of Finance.[1] As of January 2023, a total of 38 insurance companies are offering Life, Non-Life (General) and Re-insurance services.

Life insurance companies

As of January 2023, 18 life insurance companies are in operation in Nepal:[2]

S.N Life Insurance Company Operating Since Website
1 Rastriya Beema Sansthan 2025 B.S (1969 A.D) https://rbs.gov.np/
2 National Life Insurance Company Limited 2044 B.S (1988 A.D.) http://www.nationallife.com.np/
3 Nepal Life Insurance Company Limited 2058 B.S (2001 A.D) http://www.nepallife.com.np/en/home
4 Life Insurance Corporation (Nepal) Limited 2057 B.S (2000 A.D) http://www.licnepal.com.np/
5 MetLife (ALICO) 2058 B.S (2001 A.D) https://www.metlife.com.np/en/
6 SuryaJyoti Life Insurance Company Limited 2079 B.S (2023 A.D) https://suryajyotilife.com/
7 Prime Life Insurance Company Limited 2064 B.S (2008 A.D) http://www.primelifenepal.com/
8 Gurans Life Insurance Company Limited 2064 B.S (2008 A.D) https://guranslife.com/
9 Asian Life Insurance Company Limited 2064 B.S (2008 A.D) http://www.asianlife.com.np/
10 IME Life Insurance Company Limited 2074 B.S (2017 A.D) http://www.imelifeinsurance.com/
11 Reliable Nepal Life Insurance Company Limited 2074 B.S (2017 A.D) http://www.reliablelife.com.np/
12 Reliance Life Insurance Limited 2074 B.S (2017 A.D) https://relifeinsurance.com/en/home/
13 Citizen Life Insurance Limited 2074 B.S (2017 A.D) https://citizenlifenepal.com/
14 Sun Nepal Life Insurance Company Limited 2074 B.S (2017 A.D) https://sunlife.com.np/
15 Prabhu Life Insurance Company Limited 2074 B.S (2017 A.D) https://www.prabhulife.com/
16 Sanima Life Insurance Limited 2074 B.S (2017 A.D) https://www.sanimalife.com/
17 Mahalaxmi Life Insurance Limited 2075 B.S (2018 A.D) https://mahalaxmilife.com.np/
18 Union Life Insurance Limited 2074 B.S (2017 A.D) https://www.unionlife.com.np/

Due to the new paid-up capital requirement of NRs.5 Arba (NRs. 5 Billion), some companies are undergoing mergers. Companies currently under the merger process are:

  • Reliance and Sanima Life Insurance,
  • Prabhu and Mahalaxmi Life Insurance,
  • Union, Prime and Gurans Life Insurance.

Similarly, Surya Life Insurance Company Limited and Jyoti Life Insurance Company Limited merged to form SuryaJyoti Life Insurance Company Limited.

Non-life insurance companies

As of January 2023, 18 non-life insurance are operating in Nepal:[2]

S.N Non-Life Insurance Company Operating Since Website
1 Nepal Insurance Company Limited 2004 B.S (1947 A.D) http://www.nepalinsurance.com.np/
2 The Oriental Insurance Company Limited 2012 B.S (1956 A.D) http://www.orientalinsurance.com.np/
3 National Insurance Company Limited 2030 B.S (1974 A.D) http://www.nicnepal.com.np/
4 Himalayan Everest  Insurance Insurance Company Limited 2079 B.S (2022 A.D) http://www.hei.com.np/
5 United Insurance Company (Nepal) Limited 2050 B.S (1993 A.D) http://www.unitedinsurance.com.np/
6 Premier Insurance Company (Nepal) Limited 2051 B.S (1994 A.D) http://www.premier-insurance.com.np/
7 Neco Insurance Limited 2051 B.S (1994 A.D) http://www.neco.com.np/
8 Sagarmatha Insurance Company Limited 2053 B.S (1996 A.D) http://www.sagarmathainsurance.com.np/
9 Prabhu Insurance Limited 2053 B.S (1996 A.D) http://www.prabhuinsurance.com/
10 IME General Insurance Limited 2055 B.S (1999 A.D) http://www.iginepal.com/
11 Prudential Insurance Company Limited 2058 B.S (2002 A.D) http://www.prudential.com.np/
12 Shikhar Insurance Company Limited 2061 B.S (2004 A.D) http://www.shikharinsurance.com/
13 Lumbini General Insurance Company Limited 2062 B.S (2005 A.D) http://www.lgic.com.np/
14 NLG Insurance Limtied 2054 B.S (1998 A.D) http://www.nlg.com.np/
15 Siddhartha Insurance Limited 2062 B.S (2006 A.D) http://www.siddharthainsurance.com/
16 Rastriya Beema Company Limited 2071 B.S (2015 A.D) http://www.rbcl.gov.np/
17 Sanima GIC Insurance Limited 2079 B.S (2022 A.D) http://www.sanimageneral.com/
18 Ajod Insurance Limited 2075 B.S (2018 A.D) http://www.ajodinsurance.com/

Due to the new paid-up capital requirement of NRs.2.5 Arba (NRs. 2.5 Billion), some companies are undergoing mergers. Companies currently under the merger process are:

  • Ajod and United Insurance.
  • Sagarmatha and Lumbini Insurance.
  • Siddhartha and Premier Insurance.
  • IME General and Prudential Insurance.

Similarly, Himalayan Insurance Company Limited and Everest Insurance Company Limited merged to form Himalayan Everest Insurance Company Limited and Sanima Insurance Company Limited and General Insurance Company Limited merged to form Sanima GIC Insurance Company.

Reinsurance companies

As of January 2023, 2 reinsurance are operating in Nepal:[2]

S.N Reinsurance Company Operating Since Website
1 Nepal Reinsurance Company Limited 2071 B.S (2014 A.D) http://www.nepalre.com.np/
2 Himalayan Reinsurance Company Limited 2077 B.S (2020 A.D) https://himalayanre.com/

References

  1. ↑ "नेपाल बीमा प्राधिकरण – Nepal insurance Authority: Insurance Regulatory Authority of Nepal" (in en-US). http://nib.gov.np/. 
  2. ↑ 2.0 2.1 2.2 "Insurer Information – नेपाल बीमा प्राधिकरण" (in en-US). https://nib.gov.np/insurer-information/. 

External links




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