LIC Nepal Enters 25th Year, Reaffirms Commitment to Deliver Excellent Insurance Services

1st September 2025, Kathmandu

Life Insurance Corporation (Nepal) Limited has successfully entered its 25th year of service, marking a major milestone in its journey as a leading financial institution.

LIC Nepal Enters 25th Year

Since its establishment on September 1, 2001, LIC Nepal has played a pivotal role in expanding insurance awareness and providing financial security to the Nepalese population, solidifying its reputation for excellence and trust.

A Legacy of Financial Empowerment and Awareness

Since its inception, LIC Nepal has been at the forefront of spreading insurance awareness, a crucial effort in a country where financial literacy can be a challenge. The company has extended its services to even the most remote parts of the country, making insurance accessible and understandable to a wider audience. This commitment has not only enhanced the company’s market position but has also significantly contributed to the nation’s social welfare by providing a safety net for countless families. By educating citizens on the importance of risk protection and long-term financial planning, LIC Nepal has become a key player in promoting financial security across the nation.

On the occasion of its 24th anniversary, a special ceremony was held at the company’s corporate office to commemorate this journey. The event was graced by notable dignitaries, including Mr. Sushil Dev Subedi, the Executive Director of the Nepal Insurance Authority, as the chief guest, and Mr. Komal Agrawal, a board director of LIC Nepal.

During the celebration, the company took the opportunity to honor its top-performing sales force, acknowledging the dedication and hard work that are the backbone of its success. Honors, including traditional Nepali garlands, tika, and ceremonial shawls (dosalla), were presented to:

Agent Purna Bahadur Khadka and Agent Ram Kumar Adhikari, who were recognized as the top-performing agents based on first premium collection.

Agency Manager Rita Khatiwada, who was honored for achieving the first position among agency managers.

These recognitions not only celebrate individual achievements but also serve as a powerful motivation for the entire team, reinforcing the company’s culture of excellence.

CEO Highlights and Regulatory Praise: A Testament to Success

Speaking at the event, Mr. Pranay Kumar, the CEO and Director of LIC Nepal, expressed immense pride in the company’s resilience and progress. He highlighted how LIC Nepal has consistently delivered on its promise of risk protection despite facing a challenging market environment. He proudly noted several significant achievements that demonstrate the company’s strength and market leadership:

The company achieved a historic record in renewal premium collections in the last fiscal year, a clear sign of customer loyalty and trust in its services.

A remarkable accomplishment was securing the second position in Nepal in terms of life insurance fund size, which is a testament to the company’s robust financial management and ability to accumulate significant assets for its policyholders. The company’s life insurance fund size has recently surpassed NPR 132 billion, showcasing its financial might and stability.

Mr. Kumar extended his gratitude to the regulatory authorities, board of directors, shareholders, and employees for their collective contributions to the company’s success.

Adding to the commendations, Mr. Sushil Dev Subedi, the chief guest and Executive Director of the Nepal Insurance Authority, offered high praise. He referred to LIC Nepal as a “university of insurance” in Nepal, a powerful and telling description that acknowledges the company’s role beyond business operations. His remark highlights that LIC Nepal has not only provided essential insurance services but has also been instrumental in training and nurturing a generation of professionals who now contribute their expertise across the broader Nepali insurance sector. Mr. Subedi encouraged the company to maintain its upward trajectory and continue to achieve even greater heights in the coming years.

Looking Ahead: A New Chapter of Commitment

As LIC Nepal embarks on its 25th year, it is not merely celebrating its past but is also setting a renewed vision for the future. The company has reaffirmed its commitment to:

Enhancing Service Quality: A relentless focus on improving customer experience and ensuring policyholders receive the best possible service.

Expanding Insurance Penetration: Continuing to reach more citizens, particularly in underserved regions, to increase financial inclusion and access to protection.

Strengthening Trust and Transparency: Upholding the highest standards of ethics and integrity to build greater public confidence in the insurance sector.

Supporting Socio-Economic Development: Offering innovative products that provide financial protection and stability to families, thereby contributing directly to the nation’s overall economic and social well-being.

With its solid track record, strong leadership, and a reputation built on trust, LIC Nepal is well-positioned to build on its legacy and further solidify its standing as a leader in the Nepali life insurance market. The company’s journey is a powerful example of how a strategic business model, combined with a deep commitment to its stakeholders, can lead to both commercial success and significant societal impact.

Conclusion

As of today, Life Insurance Corporation (Nepal) Limited has successfully completed 24 years of dedicated service and has officially entered its 25th year of operation. The company’s anniversary celebration served as a moment to reflect on its journey of growth and to honor the people who made it possible. From its historic achievements in premium collection to its significant position in the life insurance fund size, LIC Nepal has consistently demonstrated its resilience and market leadership. The praise from the Nepal Insurance Authority further validates its crucial role as a “university of insurance,” nurturing talent and expertise for the entire industry. Moving forward, LIC Nepal remains committed to its core mission of providing financial security through life insurance, reinforcing its commitment to its policyholders and contributing to the economic and social fabric of Nepal.

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