LIC Nepal’s progress in all indices, 1 trillion 13 billion profit in life insurance fund increased by 59 percent

Kathmandu : LIC Nepal has published the financial statement for the second quarter of the current year. According to size of the company’s life insurance fund has exceeded 1 trillion 13 billion, and jump in profits.According to the unrevised financial statement published today, the net profit of the company has increased by 59.79 percent from 8.55 million to 13.66 million. The profit that decreased due to future bonus provision in the last year has increased this year with the relaxation of such provision.

The company’s business has only slightly decreased compared to the same period last year. The company, which earned 8.72 billion rupees in insurance fees in the last year, has managed to earn 8.66 billion rupees in total insurance fees in the six months of the current year.

By the second quarter, LIC Nepal has managed to accumulate 1 trillion 13.80 billion rupees in the life insurance fund. In the same period of the previous year, the company had accumulated one trillion rupees in the life insurance fund.

During the review period, the company’s total claim payment has increased from 3.98 billion to 5.25 billion. Similarly, it is seen that the profit of the company has increased due to the increase in the income received from investment. As a result, the company’s earnings per share increased from Rs.6.45 to Rs.10.31.

During the review period, the number of insurance policies maintained in the company increased from 6,89,740 to 6,93,377 rupees.