MetLife Insurance Reports 4.29% Increase in Q1 Profit

Kathmandu – MetLife Insurance Company has released its financial statement for the first quarter of the current financial year (FY), reporting a 4.29% increase in net profit compared to the same period last year.

According to the company’s financial statement, the net profit for the first quarter of the current year has reached NPR 96.5 million, a rise from NPR 92.5 million in the previous year. The company attributes this growth to an increase in overall income.

The company’s total income grew from NPR 2.1 billion in the first quarter of the previous year to NPR 2. 9 billion this year.

In the same period, MetLife Insurance saw a 4.59% increase in its net insurance fee income, which grew from NPR 1.31 billion 64 million last year to NPR 1.37 billion this year.

The company’s life insurance fund also showed a positive trend, increasing by 11.31% to reach NPR 26.6 billion, up from NPR 23.95 billion in the first quarter of the previous year.

As of the first quarter, the company’s retained earnings stand at NPR 2.4 billion, while the disaster fund has accumulated NPR 504.9 million.