Citizen Life Insurance

What Citizen Life Insurance does

Citizen Life Insurance Company Limited is a Kathmandu-headquartered life insurer licensed by the Insurance Board of Nepal on August 23, 2017, and commenced operations on October 19, 2017. The company operates as a public limited company with a 70:30 promoter-to-public shareholding structure following its September 2023 IPO on the Nepal Stock Exchange, which raised NRs 75 crore. It offers 11 insurance plans spanning endowment (Citizen Endowment Plus, Citizen Child Future Plan Plus), money-back (Annual Money Back, Regular Pay Money Back), term life (Group Term, Foreign Employment Term Life), group policies (Group Endowment, Protection Plan), specialized protection (Jeevan Sarathi Yojana), and the Critical Illness rider. As of recent disclosures, the company serves 907,056 policyholders through a 38,431-strong agent network across 135 branches, with distribution augmented by bancassurance partnerships (Nepal Bank, Machhapuchchhre Bank), digital payment integrations (e-Sewa, Khalti, Fonepay, Connect IPS, IME, NCHL), and Video KYC technology that was the first of its kind in the Nepali insurance market (launched April 2024 for overseas customers).

The company's core economics operate on three revenue streams: (1) net insurance premiums collected from policyholders, which reached NRs 116.35 crore in Q3 of FY 2076/77 (a 79% year-on-year increase); (2) investment income from a life insurance fund that exceeded NRs 4 billion by November 2021 and grew 212% by May 2020, with 91% of the NRs 3.86 billion investment portfolio allocated to bonds and fixed deposits; and (3) ancillary fee income. Capital structure reflects a paid-up capital of NRs 1.75 billion, issued capital of NRs 2.5 billion, and authorized capital of NRs 3 billion, indicating headroom for further equity raises. The company is led by CEO Poshak Raj Paudel (appointed February 2018, formerly MetLife Financial Head) with Chairman Pradip Jung Pandey and a C-suite that includes COO Dashrath Mani Khadka, CMO Kabi Phuyal, and dual Chief Business Officers Sunil Pokharel and Bhushan Rimale.

The operating model is anchored in distribution density (branches, agents, banks, digital) and brand investment through ambassadors Madan Krishna Shrestha and Hari Bansha Acharya, with operational maturity evidenced by the Emerging Asia Insurance Awards "Best Life Insurance Company of the Year - Nepal" (2025), the Corporate Excellence Award (2025), ISO 9001:2015 certification (April 2026), and an ongoing 3.5-year engagement with KPMG India for NFRS 17 implementation (commencing May 2026). Reinsurance is provided by Himalayan Re and NepalRe, and healthcare value-adds are delivered via OM Hospital and Clinic One partnerships.

Name

Citizen Life Insurance

Legal name

CITIZEN LIFE INSURANCE COMPANY LTD.

Website

https://citizenlifenepal.com

Company type

Private

Founded year

2017

Operating status

Operating

Headcount range

101–250 employees

Short description

Citizen Life Insurance Company Limited is a Kathmandu-based, Nepal-licensed life insurer serving over 907,000 policyholders with 11 insurance plans distributed through 135 branches, 38,431 agents, and bancassurance partnerships. The company offers endowment, money-back, term, and group life products, including foreign-employment cover, and went public via a September 2023 IPO.

Ownership category

akta.pro rank

Product category

Life Insurance

NAICS

Direct Life Insurance Carriers (524113), Direct Life, Health, and Medical Insurance Carriers (52411)

SIC

Life Insurance (6311)

akta.pro primary industry

Participating (Dividend) Whole Life Insurance (FSAIABAI)

akta.pro secondary industries

Level Term Life Insurance (FSAIAAAA), Group Whole Life (Limited/Continuous Pay) (FSAIADAE), Long-Term Disability (LTD) Insurance (FSAIAIAD)

Keywords

• Life insurance policies
• Endowment insurance plans
• Money back insurance
• Group term insurance
• Child insurance plans

Headquarters

HQ city

Kathmandu

HQ country

Nepal

HQ region

Asia

Offices8 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Marketing or Sales, Operations, Infrastructure, Technology or R&D, Others

Revenue model

1. Life Insurance Premiums: Citizen Life Insurance generates revenue primarily through life insurance premiums collected from policyholders. The company offers various life insurance products including endowment plans, money-back plans, term insurance, group insurance, and specialized plans for children and foreign employment. Premiums can be paid through multiple modes including single, yearly, half-yearly, quarterly, and monthly payments. The company has shown significant growth in premium collection, with net insurance premiums growing substantially year over year.

Pricing tiers

Go-to-market motion1 record

Distribution channels6 records

Marketing channels7 records

Core offering

Citizen Life Insurance Company Limited is a Nepal-based life insurance provider that underwrites and sells individual and group life insurance products, including endowment plans, money-back plans, term insurance, child education plans, and foreign employment term life policies. It distributes these products through a national network of 135 branches, 38,431 agents, bancassurance partners, and digital channels serving approximately 907,056 policyholders.

Product overview

Citizen Life Insurance offers a diversified portfolio of life insurance products including endowment plans (Citizen Endowment Plus, Citizen Child Future Plan Plus), money back plans (Citizen Annual Money Back, Citizen Regular Pay Money Back), term insurance (Citizen Group Term, Foreign Employment Term Life), group insurance (Citizen Group Endowment, Citizen Protection Plan), and specialized protection (Citizen Jeevan Sarathi Yojana). The company also provides add-on riders including Critical Illness Rider. Digital services include a Premium Calculator, Video-KYC for remote onboarding, and mobile applications for policy management. Products serve individual retail customers, groups, organizations, and foreign employment segments across Nepal through 135 branches.

Differentiator

Problem solved

Functional benefit

Products and services

• Citizen Savings Growth Plan
• Foreign Employment Term Life Policy
• Citizen Group Term Insurance Plan
• Citizen Protection Plan
• Citizen Endowment Plus Insurance Plan
• Citizen Regular Pay Money Back Insurance Plan
• Citizen Annual Money Back Insurance Plan
• Citizen Group Endowment Plan
• Citizen Child Future Plan Plus
• Citizen Jeevan Sarathi Yojana

Quantifiable outcome

• 212% growth in life insurance fund
• +4 more outcomes

Named customers5 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration7 records

Feature5 records

Partnerships

14 partnerships are on record, tiered strategic, supporting and core.

• KPMG IndiastrategicImplementation/ SI/ Consulting Partner · 1 May 2026Appointed as NFRS 17 implementation consulting partner for a 3.5-year contract period to ensure compliance with Nepal Accounting Standards Board issued NFRS 17 (Insurance Contracts) with initial implementation phase followed by three years of post-implementation support. KPMG is one of the Big Four professional services firms providing expertise in IFRS 17/NFRS 17 implementation.
• OM HospitalsupportingOthers · 1 January 2022Healthcare services partnership for providing medical services to policyholders and facilitating health-related claim processes.
• Clinic OnesupportingOthers · 1 May 2021Citizen Care facility partnership under Citizen Care initiative providing healthcare access to policyholders.
• Nepal Clearing House Limited (NCHL)coreTechnology or Integration · 1 November 2019Agreement signed for automating payment processes including premium collection services, agent commission disbursements, salary payments, vendor payments, and investment placements. Aims to reduce operating costs, minimize errors, and increase customer satisfaction through swift digital services.
• E-SewacoreTechnology or Integration · 4 September 2019Collaboration with Nepal's leading digital payment platform e-Sewa for easy and simplified premium payment. Enables customers to pay insurance premiums through the e-Sewa mobile application and platform.
• Machhapuchchhre Bank LimitedcoreChannel Partner/ Reseller/ Distributor · 12 March 2019Bancassurance agreement signed with Machhapuchchhre Bank enabling customers to access Citizen Life insurance products including Jeewan Sarathi and Critical Care Plus schemes through all bank branches.
• Nepal Bank LimitedcoreChannel Partner/ Reseller/ Distributor · 29 January 2019Bancassurance agreement signed on January 29, 2019 between Citizen Life Insurance and Nepal Bank. The partnership enables customers to access life insurance policies, pay premiums, and process claims at all 158 branches of Nepal Bank across Nepal. Signed by CEO Pratap Shah of Nepal Bank and CEO Poshak Raj Poudel of Citizen Life Insurance.
• KhaltisupportingTechnology or IntegrationDigital payment partner enabling policyholders to pay premiums through the Khalti mobile payment platform.
• FonepaysupportingTechnology or IntegrationDigital payment partner providing Phone Pay services for premium payments, enabling customers to pay through mobile banking apps of over 50 banks in Nepal.
• Connect IPSsupportingTechnology or IntegrationDigital banking payment integration for premium payments through Connect IPS platform.
• IMEsupportingTechnology or IntegrationMobile payment services provider integrated for premium payment options.
• Himalayan RecoreOthersReinsurance partner providing risk management and underwriting support for the company's insurance portfolio.
• NepalRecoreOthersNational reinsurance company providing reinsurance capacity and risk sharing arrangements.
• NIBL Capital LimitedcoreChannel Partner/ Reseller/ DistributorIssue Manager and selling agent appointed for the company's IPO issuance of NRs 75 crore. NIBL Capital is responsible for managing the public share issuance process.

Scale indicators15 records

Recent moves9 records

Expansion highlights5 records

Direct peers

• IME Life Insurance Company Limited: Nepalese life insurer with strong agent and partner network (affiliated with the IME Group's remittance ecosystem). Competes with Citizen Life for foreign-employment life insurance customers in particular.
• Asian Life Insurance Company Limited: Nepalese life insurer with similar product breadth (endowment, term, group) and bancassurance partnerships. Competes head-on with Citizen Life across urban and semi-urban Nepal.
• Nepal Life Insurance Company Limited: One of Nepal's largest and longest-established life insurers offering endowment, term and group life products. Directly competes with Citizen Life for retail, group and bancassurance customers in Nepal.
• Sanima Life Insurance Limited: Nepalese life insurer offering endowment, term and group products with bancassurance tie-ups. Overlaps with Citizen Life's product mix, distribution model and target segments.
• Reliance Life Insurance Nepal: Nepalese life insurer targeting retail and group customers with similar endowment and term plans. Competes with Citizen Life in pricing, agent productivity and bancassurance partnerships.
• National Life Insurance Company Limited (Nepal): Established Nepal life insurer offering endowment, money-back, term and group products. Overlaps directly with Citizen Life's product portfolio and target retail and corporate customer segments.
• Surya Jyoti Life Insurance Company Limited: Nepalese life insurer with similar endowment, money-back and group offerings. Closely comparable mid-sized peer competing for the same agent-driven, bancassurance and digital channels.
• MetLife Nepal: Subsidiary of global insurer MetLife offering life insurance in Nepal. Notable because Citizen Life's CEO previously led finance at MetLife Nepal; competes in similar retail and group segments.
• Life Insurance Corporation (LIC) Nepal: Major Nepal life insurer with a broad product suite and large branch network. Competes directly with Citizen Life across retail endowment, term and group policies, and is one of the dominant players in Nepal's life insurance market.

Broad incumbents

• Shikhar Insurance Company Limited: Nepalese non-life/general insurance company and one of the founding promoters of Citizen Life Insurance; provides a directly comparable insurance operating model in Nepal and acts as a promoter-linked incumbent in the broader financial protection market.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/CitizenLifeInsurance
• LinkedInlinkedin.com/company/citizenlifeinsurance

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Citizen Life Insurance