List of Insurance Companies In Nepal [Updated]

August 29, 2023 | Investopaper

As of Shrawan’s end, 2080 BS, there are 34 insurance companies operating in Nepal. The insurance companies in Nepal are divided into 4 types:

1. Life Insurance

2. Non-Life of General Insurance

3. Reinsurance

4. Microinsurance

Among the 34 insurance companies, 14 are life insurance, 14 are non-life or general insurance, 2 are reinsurance companies and 4 are microinsurance companies.

List of Life Insurance Companies In Nepal

Life insurance is a contractual transaction in which a person pays a certain amount in installments based on the age of the person and in the event of his death his heirs receive a certain amount.

There are currently 14 life insurance companies in Nepal. The list of the life insurance companies is shown below:

1. Rastriya Beema Sansthan  

2. National Life Insurance Co. Ltd.

3. Nepal Life Insurance Co. Ltd.

4. Life Insurance Corporation (Nepal) Ltd.

5. Met Life ALICO (American Life Insurance Company)

6. Asian Life Insurance Co. Ltd.

7. SuryaJyoti Life Insurance Co. Ltd.

8. IME Life Insurance Co. Ltd.

9. Sun Nepal Life Insurance Co. Ltd.

10. Sanima Reliance Life Insurance Co. Ltd.

11. Reliable Nepal Life Insurance Co. Ltd.

12. Citizen Life Insurance Ltd.

13. Prabhu Mahalaxmi Life Insurance Co. Ltd.

14. Himalayan Life Insurance Ltd.

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Current Status of Life Insurance Business In Nepal

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List of General (Non-Life) Insurance Companies In Nepal

Non-life insurance is an agreement made to avoid the risk of loss of property and liability. It is generally used to insure movable and immovable property such as houses, factories, vehicles, etc.

Non-life insurance covers accidents, medical expenses, third party liability, production liability, risks involved in foreign travel. It is used to obtain compensation for damage caused by various natural calamities including accidents, fires, thefts and to get compensation or relief from possible losses due to risk.

At current, there are 14 general or non-life insurance companies in Nepal. Nepal Insurance Company is a pioneer non-life insurance company of Nepal that was established on 1947 A.D.

Below are the list of 14 general or non-life insurance companies of Nepal:

1. Nepal Insurance Co. Ltd.

2. The Oriental Insurance Co. Ltd.

3. National Insurance Co. Ltd.

4. Himalayan Everest  Insurance Insurance Co. Ltd.

5. United Ajod Insurance Ltd.

6. Siddhartha Premier Insurance Co. (Nepal) Ltd. 

7. Neco Insurance Ltd.

8. Sagarmatha Lumbini Insurance Co. Ltd.

9.Prabhu Insurance Ltd.

10. Shikhar Insurance Co. Ltd.

11. NLG Insurance Ltd.

12.Rastriya Beema Co. Ltd.

13. Sanima GIC Insurance Ltd.

14. IGI Prudential Insurance Ltd.

Also Read: Top 5 Non-Life Insurance in Nepal

List of Re-Insurance Companies In Nepal

Since insurance companies cannot bear the entire risk of the insurance they cover, they transfer the risk from one company to another to reduce the risk, which is called reinsurance.

So far, there are 2 reinsurance companies in Nepal-Nepal Reinsurance Company and Himalayan Reinsurance Company. Nepal Reinsurance Company was established on Karthik 20, 2071 BS. Likewise, Himalayan Reinsurance Company started operation from Ashad 32, 2078 BS.

1. Nepal Reinsurance Co. Ltd.

2. Himalayan Reinsurance Ltd.

List of Micro-Insurance Companies In Nepal

Microinsurance refers to a type of insurance specifically designed to provide coverage to low-income individuals and families who have limited access to traditional insurance products. Microinsurance can cover various areas such as health, life, property, agriculture, and more.

At present, there are 4 microinsurance companies operating in Nepal.

1. Nepal Micro Insurance Co. Ltd.

2. Guardian Micro Life Insurance Ltd.

3. Crest Micro Life Insurance Ltd.

4. Protective Micro Insurance Ltd.

Read Related Contents:

History Of Insurance In Nepal

List of ‘A’ Class Commercial Banks In Nepal

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One thought on “List of Insurance Companies In Nepal [Updated]

  • December 14, 2020 at 1:32 pm

    I am interested to work in insurance company please anyone help me


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