Citizen Life Insurance Sees Strong Profit and Fund Growth in First Quarter

Kathmandu – Citizen Life Insurance Company Limited has reported a substantial increase in profit and growth across other financial metrics in its unadjusted financial statement for the first quarter of the current financial year.

The company’s life insurance fund now stands at 15.74 billion rupees, reflecting a 9% increase over the previous year. This growth underscores the company’s commitment to financial stability, with a robust fund size that strengthens its ability to support policyholders.

Citizen Life’s net profit surged by an impressive 83.16%, reaching 1.39 billion rupees, up from 714 million rupees last year. This remarkable profit growth is attributed to strong business performance and strategic financial management.

The reserve fund of Citizen Life also saw an increase, rising from 632.4 million rupees to 749 million rupees. Furthermore, the company’s fixed fund expanded by 18.42%, bolstering its financial resilience.

Investment by the company during this period reached 20 billion rupees, reflecting Citizen Life’s proactive approach to growth and stability. Additionally, the company reported a 16.19% increase in insurance fee earnings, which totaled 1.74 billion rupees, up from 1.5 billion rupees in the same period last year.