Top 10 Non-Life Insurance Companies

Last updated on 2024-04-26

Non-Life Insurance Companies are the policies that guarantee the compensation for losses incurred from a specific financial event. Some of the non-life insurance policies include automobile policies, homeowners policies, damage cover from fire, marine accidents, travel, theft, and many more. The non-life insurance business is currently at a slow-moving phase where the companies are facing a difficult time increasing their premium collection despite the rapid growth of networks and services. At present day, there are 20 Non-Life insurance companies operating in Nepal. Here, we have listed the top 10 Non-life Insurance companies based on the value of the paid-up capital.

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

10. Himalayan General Insurance Company limited

Image Source: Himalayan General Insurance | Official Website

Himalayan General Insurance Co. Ltd. began operations in December 1993 to issue insurance policies after acquiring a General Insurance license from the Insurance Board of Nepal (Non-life). Over more than two decades, they have provided clients with stability and security, as well as stockholders with steady profits. Clients benefit from unrivaled value and advantages because of their customer-driven service packages, customized service delivery, and technology-focused operations. Himalayan General Insurance Company has a paid-up capital of 106.82 crores with 22 branches all over the country.

Total Paid-up Capital : 106.82 crores
Total Number of Branches : 22

9. Everest Insurance Company Limited

Image Source: Everest Insurance Company | Official Website

Everest Insurance Company Limited was established in 1994 and has been serving the nation by its service for over 2 decades ensuring high-class products and services. Their insurance policy has a wide range of non-life insurance schemes ensuring a life of comfort. With the brand philosophy, “Protecting what you value”, their mission is to bring awareness to society on the importance of insurance in modern life and have an insight into the life and its possible pitfalls by understanding human requirements and delivering quality services accordingly. The company has a paid-up capital of 1,183,604,400.00 crores with 31 branches all over the country.

Total Paid-up Capital : 109.59 crores
Total Number of Branches : 31

8. Prabhu Insurance Company Limited

Image Source: Prabhu Insurance Company Limited | Official Website

Prabhu insurance company limited was founded in 2053 B.S. by some of the leading business houses in Nepal. The chairman of the company, Ms. Kusum Lama with a decorated team of board of directors has a mission to identify new areas in the insurance field while moving forward and protecting the upcoming future of the insured customers. The company has been providing its services through 55 branches all over the nation with its head office situated at Tinkune marg, Kathmandu. The company has a total paid-up capital of 105.62 crores in the past year with 36 branches all over the country.

Total Paid-up Capital : 105.62 crores
Total Number of Branches : 36

7. IME General Insurance Company limited

Image Source: IME General Insurance Company | Official Website

The company was founded and began operations on February 1st, 2001. (Magh 19, 2057) The company's registered office is at Narayanchaur, Naxal, Kathmandu, Nepal. The company provides general insurance services through branches located throughout Nepal and liaison offices located in Birtamod. IME General Insurance Limited has assisted both individual and institutional clients in growing and protecting their wealth. IME General Insurance Limited is committed to providing general insurance services that are of high quality, stable, and skilled. The company has a paid-up capital of Rs.108.18 crore and authorized capital of Rs.2,000 million with 46 branches all over the country.

Total Paid-up Capital : 108.18 crores
Total Number of Branches : 46

6. Lumbini General Insurance Company Limited

Image Source: Lumbini General Insurance Company | Official Website

Lumbini General Insurance Company Limited is an organization jointly promoted by prominent bankers, entrepreneurs, automobile dealers, hydropower developers, financial institutions, and commercial banks for more than three decades. It began its service in 2005 (2062 B.S.) under the first Ex-Governor Himalaya SJB as Founder Chairman. The main objective of the organization is to provide a reasonable rate of return to their shareholders, provide quality salary- benefits and career growth to the Employees, and efficient and sincere service to the customer and society, and provide the volume of revenue to the nation. The company has a total paid-up capital of 1,198,890,000.00 crores with 45 branches all over the country.

Total Paid-up Capital : 114.18 crores
Total Number of Branches : 48

5. Nepal Insurance Company limited

Image Source: Nepal Insurance Company | Official Website

Nepal Insurance company limited, formerly known as ‘Nepal Malchalani Tatha Beema Company’ was established in 2051 B.S. The company has envisioned itself to become the most trusted insurance company in all of the nations. The chairman of the company, Mr. Arjun Paudel Sharma takes the main objective of the company as to enhance the prosperity of the stakeholders and help mitigating risks from the insured. The company has its branches in all of the seven provinces of Nepal and has 13 branches within Kathmandu Valley with the head office at Ganesthan, Kamaladi. The company had a total paid-up capital of 115.03 crores in the past year with over 50 branches all over the country.

Total Paid-up Capital : 115.03 crores
Total Number of Branches : 50

4. Premier Insurance Company limited

Image Source: Premier Insurance Company | Official Website

Premier Insurance Company (Nepal) Limited was established in 1994 AD as a Public Limited Company. The firm has established a name in the local and worldwide insurance and reinsurance industries for its expertise and services. Premier's success in the insurance and reinsurance industries may be attributed to its promoters' drive to succeed. The company's promoters are a group of famous entrepreneurs who have contributed their expertise, entrepreneurial aptitude, and leadership abilities to the company's success. Premier Insurance Company has a paid-up capital of 107.45 crores with 66 branches all over the country.

Total Paid-up Capital : 107.45 crores
Total Number of Branches : 66

3. Neco Insurance Company limited

Image Source: Neco Insurance Company | Official Website

Neco insurance company limited was established in 2051 B.S. with a vision to provide a wide range of policies for the customers such as Fire, Motor, Aviation, Agriculture insurance, and many more with the best quality service. The CEO, Mr. Bishwo Ram Timila, and the Board of directors have multiple decades of experience in the insurance business. The company has a reputation for expertise, stability, quality, and strength. It is known to be innovative and has ties with various reinsurance markets across the world. It has multiple branches across the Kathmandu valley while having the head office at Anamnagar, Kathmandu. The company had a total paid-up capital of 131.74 crores in the past year with more than 50 branches all over the country.

Total Paid-up Capital : 131.74 crores
Total Number of Branches : 50

2. NLG Insurance Company Limited

Image Source: NLG Insurance Company | Official Website

NGL Insurance Company was incorporated in 2005 to conduct as a composite insurance company providing Life as well as General Plans to its individual and corporate clients. With over 25 years of experience, they serve their client base by providing a diverse product range throughout the country by its largest network connections. Its mission is to deliver first-class insurance service to its customers, provide adequate returns to the stakeholders, and contribute to the nation by promoting socio-economic development. The company has a paid-up capital of 1,096,375,500.00 with 78 branches all over the country.

Total Paid-up Capital : 109.63 crores
Total Number of Branches : 78

1. Shikhar Insurance Company limited

Image Source: Shikhar Insurance Company | Official Website

Shikhar insurance company was jointly established by a young team of reputed business and industrial houses who have been involved in fields like Aviation, Banking, Trading in 2061 B.S. The company has successfully provided its service for over 17 years and has a prominent aim of providing the best quality service to strengthen the bond between the insured and insurers. The company has a decorated team of a Board of directors with Mr. Rajendra Prasad Shrestha, a well-known businessman in carpet industries of Nepal as the Chairman. It has 17 branches within the Kathmandu valley with its head office situated at Shikhar Biz center, Thapathali. The company had a total paid-up capital of Rs. 1,756,189,800.00 crores in the past year with more than 96 branches all over the country.

Total Paid-up Capital : 137.45 crores
Total Number of Branches : 96