Insurance Companies in Nepal

There are altogether 25 insurance companies established under Insurance Act 1992. Among these, 8 offer life insurance services, 16 perform non-life insurance services and one company rendered both life as well as non-life Insurance services.

List of Insurance Companies

Life Insurance Companies:
1. National Life Insurance Company Ltd
2. Nepal Life Insurance Company Ltd
3. Life Insurance Corporation (Nepal) Ltd
4. American Life Insurance Company Ltd
5. Gurans Life Insurance Company Ltd
6. Surya Life Insurance Company Ltd
7. Prime Life Insurance Company Ltd
8. Asian Life Insurance Company Ltd

Non-Life Insurance Companies:
9. Nepal Insurance Company Ltd
10. The Oriental Insurance Company Ltd
11. National Insurance Company Ltd
12. Himalayan General Insurance Company Ltd
13. United Insurance Company (Nepal) Ltd
14. Premier Insurance Company (Nepal) Ltd
15. Everest Insurance Company Ltd
16. Neco Insurance Company Ltd
17. Sagarmatha Insurance Company Ltd
18. Alliance Insurance Company Ltd
19. NB Insurance Company Ltd
20. Prudential Insurance Company Ltd
21. Shikhar Insurance Company Ltd
22. Lumbini General Insurance Company Ltd
23. NLG Insurance Company Ltd
24. Siddhartha Insurance Ltd

Life and Non-life:
25. Rastriya Bima Samsthan

According to the ownership structure, 3 insurance companies are operating under foreign investment and 3 insurance companies are in joint ventures with foreign insurance companies. Likewise, 18 insurance companies are in private sectors whereas one company is under the government ownership. Based on the financial statistics received from the insurance Board, total assets/liabilities of these companies increased by 28.2 percent from last year to Rs. 47.46 billion in mid-july 2010. Total premium collection of these companies is estimated at Rs. 15.40 billion by mid-july 2010. Such collection was Rs. 10.90 billion previous year.