List of Insurance Companies In Nepal [Updated]

June 15, 2021 | Investopaper

There are 41 insurance companies in Nepal. The insurance companies in Nepal are divided into 3 types:

1. Life Insurance

2. Non-Life of General Insurance

3. Reinsurance

As of FY 2078/79 [FY 2021-22], 19 life insurance, 20 non-life or general insurance and 2 reinsurance companies are operating in Nepal.

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 19 life insurance companies in Nepal. The list of the life insurance companies is shown below:

1. American Life Insurance Company Limited (MetLife)

2. Asian Life Insurance Company Limited

3. Citizen Life Insurance Company Limited

4. Gurans Life Insurance Company Limited

5. I.M.E. Life Insurance Company Limited

6. Jyoti Life Insurance Company Limited

7. Life Insurance Corporation (Nepal) Limited

8. Mahalaxmi Life Insurance Company Limited

9. National Life Insurance Company Limited

10. Nepal Life Insurance Company Limited

11. Prabhu Life Insurance Company Limited

12. Prime Life Insurance Company Limited

13. Rastriya Beema Sansthan

14. Reliable Nepal Life Insurance Limited

15. Reliance Life Insurance Limited

16. Sanima Life Insurance Company Limited

17. Sun Nepal Life Insurance Company Limited

18. Surya Life Insurance Company Limited

19. Union Life Insurance Company Limited


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The information regarding life insurance companies in Nepal is shown below:

Details Of Life Insurance Companies


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 20 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.

Likewise, Sanima, Ajod and General Insurance are among the newly established general or non-life insurance companies of Nepal.

Below are the list of 20 general or non-life insurance companies of Nepal:

1. Ajod Insurance Company Limited

2. Everest Insurance Company Limited

3. General Insurance Company Nepal Limited

4. IME General Insurance Company Limited

5. Himalayan General Insurance Company Limited

6. Lumbini General Insurance Company Limited

7. National Insurance Company Limited

8. Neco Insurance Company Limited

9. Nepal Insurance Company Limited

10. NLG Insurance Company Limited

11. Oriental Insurance Company Limited

12. Prabhu Insurance Company Limited

13. Premier Insurance Company (Nepal) Limited

14. Prudential Insurance Company Limited

15. Rastriya Beema Company Limited

16. Sagarmatha Insurance Company Limited

17. Sanima General Insurance Company Limited

18. Shikhar Insurance Company Limited

19. Siddartha Insurance Company Limited

20. United Insurance Company (Nepal) Limited


Also Read: Top 5 Non-Life Insurance in Nepal


The information regarding general or non-life insurance companies in Nepal is shown below:

Details Of General Or Non-Life Insurance Companies


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 Re Insurance Company Limited

2. Himalayan Re Insurance Company Limited


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

    Reply

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