Progress reflected in Nepal Life’s financial statement, 183 Billion Rupees accumulated in Life Insurance Fund with Increase in all Indices including Profit

Kathmandu: Nepal Life Insurance, the largest life insurance company in Nepal, has published the second quarter financial statement of the current fiscal year (2079/80) on 24th of Magh, 2080 B.S. According to which, the size of the company’s life insurance fund has increased to 183 billion Rupees. It has been seen that progress has been made in all the financial indicators including the company’s profit.

In the same period of the previous year under review, the company has created a life insurance fund of 165 billion Rupees which was also the strongest collection among insurance companies. Life insurance fund is the most important fund for every life insurance companies.

Similarly, 620 million Rupees have been accumulated in the reserve fund of the company. During this period, Nepal Life has invested 152 billion Rupees, according to the financial statement. It is seen that the income per share of Nepal Life’s this fiscal year is similar in comparison with the last fiscal year and has a total paid-up capital of 8 billion 207million 966 thousand 554 Rupees this fiscal year until second quarter.

The company has managed to collect total insurance fees of 20 billion Rupees during this period. In the previous fiscal year, such insurance fee amount was collected 18.62 billion Rupees. The overall insurance business of the company has succeeded in increasing by 7.37 percent. The company’s total claim payment increased by 10.88 percent and has reached 24 billion Rupees from 22 billion Rupees.

It has been seen that the income received from investments, loans and others has been increased by 17.25 percent. The company has earned a total of 8.12 billion Rupees during the same period of the previous fiscal year, but has managed to earn 9.52 billion Rupees in the six months of the current fiscal year. Due to which the company has succeeded in making progress in the overall index.

Nepal Life’s profit has increased by 12.90 percent and has reached 427.7 million Rupees. In the previous fiscal year, such profit was 370 million Rupees. Along with this, the company’s earnings per share has also increased from Rs.9.23 to Rs 10.42.

During the review period, Nepal Life has distributed

1 billion 492 million 205 thousand 543 Rupees to its agents for commission. The number of insurance policies maintained in Nepal Life so far is 1 million 390 thousand 430. Last year, the number of such insurance policies was 1 million 286 thousand 698.