Let’s Find out the Difference Between Three Big Life Insurance Companies:

Kathmandu: Nepal Life Insurance, LIC Nepal and National Life Insurance Company are the three largest established life insurance companies in Nepal. Nepal Life is number one in terms of business done by life insurance companies.

The first place in the life insurance company is Nepal Life. Nepal Life, LIC (Nepal) and National Life all the three companies have published the first quarter financial statements of the current year. Based on NFRS (Nepal Financial Reporting Standards), these three companies have already prepared their financial statements.

Nepal Life, LIC and National Life are competing companies. Nepal Life is the largest company in Nepal, while National Life Insurance Company is a company that is making rapid progress with the aim of reaching number one. LIC Nepal is also a leading company.

There is still a gap in the statistics between the three companies, but the statistics indicate that National Life and LIC Nepal are going to lead in some aspects in terms of growth. let’s look at the comparative study data of the three companies, according to the published financial statements :

Based On Paid Up Capital:

On the basis of paid-up capital, Nepal Life is the leading company. The current paid up capital of the company is 8 billion 200 million Rupees.Second is National Life Insurance Company. The current paid up capital of the company is Rs 5 billion 10 million Rupees. The third is LIC Life Insurance Company. The current paid up capital of the company is 2 billion 650 million Rupees. The company is going to issue 86 percent right shares. After the company issues rightful shares, the paid-up capital of the company will reach 4 billion 935 million 200 thousand Rupees.  Based On The Life Insurance Fund:In terms of life insurance fund, Nepal Life is at the forefront. The life insurance fund of the company has an amount of 100 billion 750 million Rupees. In the second place, LIC Nepal is leading. The life insurance fund of the company has accumulated 110 Billion Rupees.The third is National Life Insurance Company. The life insurance fund of the company has an amount of 68 billion 80 million Rupees. Based on Reserve Fund :On the basis of reserve fund, Nepal Life is at the forefront. The reserve fund of the company has an amount of 100 billion 840 million Rupees.LIC Nepal has an amount of 2 billion 690 million Rupees in its reserve fund.Thirdly, there is 975.3 million Rupees in the reserve fund of National Life.

Based on Gross Insurance Premium Income :

The total insurance fee income of Nepal Life is Rs 10 billion Rupees, while that of National Life is Rs 4 billion Rupees and LIC Nepal is 4.59 billion Rupees.

Based on Gross Income :

Among the three companies, Nepal Life’s total income is 15 billion Rupees.

LIC Nepal is worth 7 billion 380 million Rupees.

Similarly, the total income of National Life is 5 billion 79 million Rupees.

On the basis of total expenses, Nepal Life has 14.69 billion Rupees, while National Life has 5.35 billion Rupees.

Based on Net Profit:

Nepal Life and National Life are seen almost close.

Nepal Life earned a profit of 157 million 930 thousand Rupees, while National Life earned a net profit of 130 million 258 thousand Rupees.

Similarly, LIC Nepal has earned profit of 59.7 million Rupees.

Based on Earnings Per Share:

On the basis of earnings per share, National Life’s earnings per share is Rs 10, while Nepal Life’s earnings is Rs 8. The net worth per share of Nepal Life is 125 Rupees while that of National Life is 129 Rupees.

Likewise, LIC Nepal’s earnings per share is Rs 9.