Crest Micro Life Insurance Records Significant Growth in Profit and Premium Income

Kathmandu – Crest Micro Life Insurance has reported remarkable financial growth in the second quarter of the current fiscal year, according to its recently published unaudited financial statements. The company achieved significant increases in profit, premium income, and its life insurance fund compared to the same period last year.

The company recorded a net profit of Rs 4.01 million in the second quarter, reflecting an impressive growth compared to Rs 1.185 million earned in the same period of the previous fiscal year.

Crest Micro Life Insurance’s total insurance premium income surged by an extraordinary from Rs 37.4 million in the previous fiscal year to Rs 142.6 million this year. Similarly, the net premium income grew by rising from Rs 14.1 million to Rs 117.5 million during the same period.

The company’s life insurance fund has also seen exponential growth. As of the second quarter, the fund stands at Rs 36.33 million, a staggering increase from Rs 2.29 million in the same period last year.

Additionally, the company maintains a strong financial foundation with a share capital of Rs 525 million, Rs 1.39 million in its disaster fund, Rs 10.1 million in retained earnings, and Rs 7.26 million in other equity.