Nepal's non-life insurance sector has demonstrated remarkable resilience and growth, achieving a total premium collection of Rs. 171,778 lakh by Mangsir 2081. This represents a 9.27% year-on-year increase, up from Rs. 157,210.15 lakh during the same period last year. The steady rise in premiums reflects the sector's adaptability, strategic market penetration, and the growing public awareness of insurance benefits.

Leading the industry is Sagarmatha Lumbini Insurance Company Ltd., with an impressive premium collection of Rs. 21,998.36 lakh, marking a 10.01% growth from the previous year. Siddhartha Premier Insurance Company Ltd. followed closely, collecting Rs. 17,685.85 lakh, while Shikhar Insurance Company Ltd. continued to excel with a premium of Rs. 17,425.74 lakh, recording a 10.45% increase.

Other major contributors include IGI Prudential Insurance Company Ltd., collecting Rs. 14,552.70 lakh, and Neco Insurance Ltd., with Rs. 14,038.21 lakh. Himalayan Everest Insurance Company Ltd. demonstrated stability, collecting Rs. 14,009.25 lakh, while NLG Insurance Ltd. and Oriental Insurance Company Ltd. showcased robust growth with collections of Rs. 11,306.07 lakh and Rs. 11,269 lakh, respectively. Oriental Insurance stood out with an exceptional 54.98% year-on-year growth.

Amidst this success, some companies faced challenges. United Ajod Insurance Company Ltd. experienced a slight decline, collecting Rs. 10,255.68 lakh, down by 4.26%. Similarly, Sanima GIC Insurance Ltd. saw modest growth of 2.98%, with Rs. 9,974.58 lakh in premiums, while Prabhu Insurance Ltd. faced an 8.86% decline, gathering Rs. 7,668.42 lakh.

On the other hand, Nepal Insurance Company Ltd. emerged as a remarkable performer, registering a 52.57% growth and collecting Rs. 9,446.93 lakh. Rastriya Beema Company Ltd. recorded a steady increase of 7.19%, collecting Rs. 6,711.89 lakh, while National Insurance Company Ltd. saw a 6.16% growth with Rs. 5,434.93 lakh.

Key Highlights:

• Total Premium Collection: Rs. 171,778 lakh, a 9.27% growth compared to last year.

• Top Performer: Sagarmatha Lumbini Insurance with Rs. 21,998.36 lakh in premiums.

• Exceptional Growth: Oriental Insurance (+54.98%) and Nepal Insurance (+52.57%).

• Steady Players: IGI Prudential, Neco, and Himalayan Everest Insurance with consistent growth.

• Challenged Companies: United Ajod, Sanima GIC, and Prabhu Insurance reported declines or modest growth.

This cumulative achievement underscores the sector's resilience and its critical role in financial inclusion and economic stability. However, the industry must address the challenges faced by underperforming companies and innovate to meet evolving consumer needs. With strategic planning and innovation, Nepal’s non-life insurance sector is poised for sustained growth and an expanded impact on the nation's economic landscape.