Life insurance coverage in Nepal has expanded to 50 percent of the population as of Poush 2082, up from 43.62 percent a year earlier, according to the Insurance Board. Growth has been driven by increased awareness, branch expansion and the entry of new insurers. The number of active policies reached 1.625 million, while 1.231 million policies remain pending renewal, representing lapsed premiums worth Rs 37.8 billion. Life insurance business grew by 16.47 percent in the first half of the current fiscal year, with total annual premiums amounting to Rs 182.27 billion. Policy surrenders declined by 6.13 percent, indicating stronger consumer confidence.
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