Top 10 Life Insurance Companies

Last updated on 2024-04-18

Life insurance is a contract between an insurer and a policyholder under the condition where the insurance policy guarantees the insurer to be paid with a sum of money to named beneficiaries when the insured policyholder dies, in exchange for the premiums paid by the policyholder during their lifetime. Life Insurance Companies in Nepal are rapidly expanding their market in the country. At present, there are 19 Life Insurance Companies in Nepal with more than 23 percent of the population already covered by the insurance. Among these insurance companies, we have listed the top 10 Life Insurance companies based on the paid-up capital value which is regarded to be an important factor in the financial statement.

*The ranking criteria is based on the amount of money a company has received from the shareholders in exchange for shares of stock.

10. Gurans Life Insurance Company Limited

Image Source: AskMe

Gurans Life Insurance Co. Ltd is a company promoted by Dugar Group and Sunrise Bank Ltd with multiple diverse and renowned Businessmen, industrialists, and Legal professionals. They provide a wide range of products and services of different choices with reasonable premiums, savings opportunities, and good returns as bonuses. With the mission to create resources and generate employment opportunities, promote saving habits of individuals for their financial stability and improve the living standard, the company started its service on Chaitra 18, 2064. Gurans Life Insurance Co Ltd has a total authorized paid-up capital of Rs. 197.55 crore and Rs. 1,537 crore authorized capital.

Total Paid-up Capital : Rs.1975584600
Total number of branches : 77
Authorized Capital : Rs.15370048188

9. Prabhu Life Insurance Limited

Image Source: Nepal Live

Prabhu Life Insurance is an organization providing and delivering affordable and customized Life Insurance plans to their valued customers by applying modern information technology in a customer-friendly environment to enhance all stakeholder’s net worth. With their vision to be a Nepalese insurer, in virtue of strong ethics and efficient workforce, they have been serving its valued customers since December 14, 2017, through its networks across Nepal. Belonging to the Prabhu Group of Companies, the organization holds Rs. 200.00 crore paid-up capital fund and authorized capital of Rs. 1,530 crore.

Total Paid-up Capital : Rs.2000000000
Total number of branches : 102
Authorized Capital : Rs.15300000000

8. Asian Life Insurance Company Limited

Image Source: Asian Life Insurance Company Ltd | Official Facebook Page

Asian Life Insurance Company is a company dedicated to maintaining the highest level of professional integrity, regulatory compliance, and corporate governance. With its strong and diversified sales network, the company focuses on providing satisfaction to the policy-holders. They began their service on April 3, 2008, and currently have 146 branches across the nation. With 93 promoters of the company and Mahalaxmi Development Bank Limited, Kathmandu and Guheshwori Merchant Banking and Finance Ltd, Lalitpur as their main promoters, they hold Rs. 201.0 crore paid-up capital with Rs. 2,784 crore authorized capital.

Total Paid-up Capital : Rs.2010760700
Total number of branches : 146
Authorized Capital : Rs.27849035695

7. Reliance Life Insurance Limited

Image Source: Reliance Life Insurance | Official Website

Reliance Life Insurance is an organization that began its service on November 17, 2017, to provide risk coverage and financial stability to their valued policyholders. They are the only life insurance company that was the first one to provide its operation to their clients and create insurance awareness. With the vision to be the company of everyone’s first choice, their objective is to adopt new technologies for a better experience and enable stakeholders to adopt technological advancements. With 70% promoters and 30% public shareholders, the company holds Rs. 210.0 crore paid-up capital value and Rs. 1,474 crore authorized capital.

Total Paid-up Capital : Rs.2100000000
Total number of branches : 104
Authorized Capital : Rs.14742000000

6. Jyoti Life Insurance Company Limited

Image Source: Jyoti Life Insurance Company Limited | Official Facebook Page

Jyoti Life Insurance Company Limited was established in 2074 B.S. with the mission to reach out to all parts of the nation and make insurance services available to every citizen. The company is proud of the promoters, as the promoters are from diverse business backgrounds i.e., manufacturing, trading, and other financial institutions. The Chairman, Mr. Nanda Kishor Sharma with his team of directors’ plan to maximize the return back to policyholders while having a strong presence in the country. Though being a fairly recent company, it has been able to make a name for itself by having more than 100 branches and sub-branches all over Nepal. The company has a total paid-up capital of Rs.220.00 crores and Rs. 1,724 crore authorized capital.

Total Paid-up Capital : Rs.2200000000
Total number of branches : 126
Authorized Capital : Rs.17248000000

5. Life Insurance Corporation Nepal Limited

Image Source: LIC Nepal Limited | Official Facebook Page

Life insurance Corporation Nepal was established in 2057 B.S. with the objective of ensuring and enhancing the quality of life of the general public by providing financial security for economic development. It was possible for this India-originated company by joining hands with the Vishal group to extend its services in Nepal as well. The Director and CEO for Nepal, Mr. Laxmi Prasad Das leads his team with a mission to spread life insurance awareness in a wide manner providing adequate financial support at a reasonable cost. The company has a total of around 76 branches all over Nepal. The company has a total paid-up capital of Rs. 221.10 crores and Rs. 54,103,170,000.00 crore authorized capital.

Total Paid-up Capital : Rs.2211000000
Total number of branches : 76
Authorized Capital : Rs.54103170000

4. Surya Life Insurance Company Limited

Image Source: Surya Life Insurance | Official Website

Surya Life Insurance was established and registered under the Company Act of 2063 B.S. with the objective to provide multiple resources and means for economic development. The company’s mission is to introduce and implement attractive life insurance schemes for the citizens of the nation to secure and uplift their livelihood. The chairman, Mr. Keshab Prasad Bhattarai intends to establish the company as one of the most viable institutions. Surya Life Insurance consists of 98 total branches located all over the nation with its head office at Kathmandu. The company has a total paid-up capital of Rs. 226.28 crores and Rs 21,610,642,475.00 crore authorized capital.

Total Paid-up Capital : Rs.2262894500
Total number of branches : 98
Authorized Capital : Rs.21610642475

3. Prime Life Insurance Company Limited

Image Source: Prime Life Insurance Company Limited | Official Website

Prime Life insurance Co. Ltd. (PrimeLife) came into existence in June 2007 promoted by eminent business groups located at Hattisar, Kathmandu. With 12+ years of operation, Prime insurance has become one of the leading and highly prominent business groups having widely diversified business interests and expertise. The company has an authorized capital of 23,832,182,020.00 and a paid-up capital of Rs. 241.70 Crores.

Total Paid-up Capital : Rs.2417057000
Total number of branches : 26
Authorized Capital : Rs.23832182020

2. National Life Insurance Company Limited

Image Source: National Insurance Company Limited | Official Facebook Page

National Life Insurance Company Limited (previously known as National Life & General Insurance Co.Ltd.) was founded in 1988 A.D. under the Nepal Company Act 1964 and the Insurance Act 1968 of Nepal, with the primary goal of meeting the country's expanding insurance needs. National Life has developed a reputation as a firm that believes in providing the best quality of customer service for more than three decades. The company has an authorized capital of Rs.41,877,481,620.00 Crore and a Paid-up Capital of Rs.339.08 Crore.

Total Paid-up Capital : Rs.3390889200
Total number of branches : 101
Authorized Capital : Rs.41877481620

1. Nepal Life Insurance Company Limited

Image Source: Nepal Life Insurance Company Limited | Official Website

Nepal Life Insurance Company was founded as a public limited company on 2058/01/21 (04/05/2001) under the Company Act 2053 and the Insurance Act 2049. Nepal Life is the leading life insurance business founded by private investors. The company's promoters are a collection of well-known Nepalese business people and business houses. Within the twenty years of operation, the Company has set up an excellent business record and has a strong financial position. The company has an authorized capital of Rs 142,271,419,056.00 Crore and a Paid-up Capital of Rs.719.99 Crore.

Total Paid-up Capital : Rs.7199970600
Total number of branches : 200+
Authorized Capital : Rs.142271419056