List of insurance Companies in Nepal | List of Life insurance Companies in Nepal | List of Non life insurance Companies in Nepal | List of Reinsurance companies in Nepal | Total Insurance companies in Nepal | Insurance Company List in Nepal
Insurance is an important financial product in Nepal, as it helps individuals and businesses protect themselves against financial losses resulting from unexpected events such as accidents, illnesses, natural disasters, and other risks. There are several insurance companies in Nepal, who offering insurance products and services to meet the diverse needs of individuals and businesses in the country.
When you purchase an insurance policy, you pay a premium to the insurance company in exchange for financial protection in the event of a covered loss.
The insurance sector in Nepal is regulated by the Nepal Insurane Authority. A regulatory body that is responsible for issuing licenses to insurance companies, regulating their activities, and protecting the interests of policyholders. The Nepal Insurance Authority also sets the guidelines and standards that insurance companies must follow when selling insurance products and services.
Life insurance provides financial protection to your family in the event of your death. Health insurance, which covers the cost of medical care & Property and Casualty insurance, which covers losses to your home or business due to events such as fires, storms, or theft.
However, it is also important to carefully review the terms and conditions of an insurance policy before purchasing it. to ensure that it meets your needs or not and that you fully understand the coverage it provides.
There are 40 insurance companies in Nepal are still working, among which 19 are life insurance companies, 19 are non life insurance company and 2 aur re-insurance companies.
List of Life insurance Companies in Nepal
There are 19 life insurance companies in Nepal. Rastriya Beema Sansthan Ltd is Nepal’s first and government owned insurance company and the other 18 life insurance companies are run by the private sector.
|S.N.||Life insurance Companies in Nepal||Symbol||Date of Established|
|1.||Rastriya Beema Sansthan Ltd.||–||2025-Poush-01|
|2.||National Life Insurance Co. Ltd.||NLICL||2044-Pouch-23|
|3.||Nepal Life Insurance Co. Ltd.||NLIC||2058-Baisakh-4|
|4.||Met Life (American Life Insurance Company)||–||2058-Shrawan-18|
|5.||LIC Nepal Ltd.||LICN||2058-Shrawan-23|
|6.||Surya Life Insurance Co. Ltd.||SLICL||2064-Chaitra-06|
|7.||Gurans Life Insurance Co. Ltd.||GLICL||2064-Chaitra-18|
|8.||Asian Life Insurance Co. Ltd.||ALICL||2064-Chaitra-21|
|9.||Prime Life Insurance Co. Ltd.||PLIC||2065-Jestha-22|
|10.||Union Life Insurance Co. Ltd.||–||2074-Ashad-20|
|11.||IME Life Insurance Co. Ltd.||–||2074-Ashad-20|
|12.||Jyoti Life Insurance Co. Ltd.||–||2074-Ashad-20|
|13.||Reliable Life Insurance Co. Ltd.||RLI||2074-Shrawan-18|
|14.||Reliance Life Insurance Co. Ltd.||–||2074-Shrawan-18|
|15.||Sun Nepal Life Insurance Co. Ltd.||–||2074-Shrawan-18|
|16.||Citizen Life Insurance Co.||–||2074-Bhadra-07|
|17.||Prabhu Life Insurance Co.||PLI||2074-Bhadra-07|
|18.||Sanima Life Insurance Co. Ltd. Bhadra 7, 2074||SLI||2074-Bhadra-07|
|19.||Mahalaxmi Life Insurance Co. Ltd. 2075||–||2075|
List of non Life Insurance Company in Nepal
There are 19 non life insurance companies in Nepal. One of them is run by the government of Nepal and the other 18 are run by the private sector. Nepal Insurance Company Limited is the first non life insurance company in Nepal and Rastriya Beema Company is government owned non life insurance company in Nepal.
|S.N.||Non Life insurance Companies in Nepal||Symbol||Date of Established|
|1.||Nepal Insurance Company Limited||NLICL||2004-Ashoj-08|
|2.||The Oriental Insurance Company Limited||–||2024-Bhadra-30|
|3.||National Insurance Company Limited||NICL||2044-Pouch-23|
|4.||Himalayan Everest Insurance Company Limited||HEI||–|
|5.||United Insurance Company Limited||UIC||2050-Mangshir-16|
|6.||Premier Insurance Company Limited||PIC||2051-Baishakh-8|
|7.||Neco Insurance Company Limited||NIL||2053-Jestha-17|
|8.||Sagarmatha Insurance Company Limited||–||2053-Ashad-12|
|9.||Prabhu Insurance Company Limited||PRIN||2053-Shrawan-04|
|10.||IME General Insurance Company Limited||IGI||2057-Magh-10|
|11.||Prudential Insurance Company Limited||PICL||2059-Baishakh-20|
|12.||Shikhar Insurance Company Limited||SICL||2061-Kartic-02|
|13.||Siddhartha Insurance Company Limited||–||2062-Chaitra-23|
|14.||NLG Insurance Company Limited||NLG||2062-Ashoj-23|
|15.||Lumbini General Insurance Company Limited||LGIL||2062-Ashad-31|
|16.||Rastriya Beema Company||RBCL||2070-Ashad-15|
|17.||Ajod Insurance Company Limited||AIL||2075-Jestha-29|
|18.||General Insurance Company Limited||–||2075-Jestha-29|
|19.||Sanima General Insurance Company Limited||–||2075-Jestha-29|
List of Reinsurance companies in Nepal
There are only two Reinsurance companies in Nepal. One of them is run by the government and the other is run by the private sector. Nepal Reinsurance Company Ltd is the first reinsurance company of Nepal and Himalayan Reinsurance Ltd is the latest and second insurance company in Nepal.
|S.N.||Reinsurance companies in Nepal||Symbol||Date of Established|
|1.||Nepal Reinsurance company Ltd.||NRIC||22 December 2014|
|2.||Himalayan Reinsurance company Ltd.||–||–|
Advantage of Insurance
There are many benefits of insurance, among which we have tried to bring the most important benefits to you. Read, Advantage of Insurance….
- Financial protection: Insurance helps protect individuals and businesses against financial losses resulting from unexpected events such as accidents, illnesses, natural disasters, and other risks.
- Coverage for medical expenses: Health insurance can help cover the cost of medical care, including hospital stays, prescription medications, and other medical expenses. This can help alleviate financial burden and allow policyholders to access necessary medical treatment without worrying about the cost.
- Coverage for property and assets: Property and casualty insurance can help cover losses to property and assets due to events such as fires, storms, and theft. This can help policyholders repair or replace damaged or lost property and protect their investments.
- Protection for loved ones: Life insurance can provide financial protection to the policyholder’s family in the event of their death. This can help ensure that their loved ones are financially secure and able to maintain their standard of living.
- Risk management: Insurance can help individuals and businesses manage risk by transferring the financial burden of a potential loss to the insurance company. This can help policyholders avoid the financial consequences of unexpected events and focus on running their business or leading their lives.
Overall, insurance can provide peace of mind and financial security, allowing individuals and businesses to protect themselves against financial losses and focus on their goals and priorities.
Insurance Companies in Nepal Related : FAQ
How many insurance companies are there in Nepal in 2023?
There are 40 insurance companies (19 life insurance, 19 non-life insurance and 2 reinsurance) in Nepal in 2023.
How many Bima company are there in Nepal?
There are 40 bima companies (19 life insurance, 19 non-life insurance and 2 reinsurance) in Nepal.
Which was the first insurance company of Nepal?
The first insurance company of Nepal is “Nepal Insurance and Transport Company Ltd” now named Nepal Insurance Co. Ltd.
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