Non-Life Insurance Premium Income Crosses Rs 31.70 Billion, Shikhar Insurance Leads the Market

Kathmandu: According to data released by the Nepal Insurance Authority, non-life insurance companies in Nepal have earned more than Rs 31.70 billion in insurance premiums by the end of Falgun in the current fiscal year 2082/83, which is 13.11 percent higher compared to the same period last year. Among the 14 companies, Shikhar Insurance ranked first with Rs 4.38 billion in premium income, followed by Sagarmatha Lumbini Insurance with Rs 3.36 billion and Himalayan Everest Insurance with Rs 3.20 billion. Likewise, Siddhartha Premier Insurance, IGI Prudential Insurance, NLG Insurance and Neco Insurance have also collected more than Rs 2 billion in premiums. While the overall insurance business is growing, the expansion of micro non-life insurance has also accelerated, with four micro-insurance companies collecting Rs 825.8 million in premiums, indicating increasing insurance access among rural and low-income populations.