Nepal’s life insurers are seeing an increase in policies not renewed on time. Data from the Nepal Insurance Authority show 1,217,702 life insurance policies remained unrenewed in the first four months of the fiscal year, up 0.97% year-on-year. The value of these lapsed policies reached NPR 3.677 billion, a 4.69% rise. Analysts cite low awareness, financial hardship, and poorly matched products as key causes. Meanwhile, policy surrenders decreased by 18.14% in number and 6.27% in value, widening the gap between policy retention and renewal.
