Life Insurance Sector Sees 14.85% Profit Growth, Earning Rs 3.48 Billion in Q2

Kathmandu — The life insurance sector in Nepal has recorded significant profit growth in the second quarter of the current fiscal year, with 14 life insurance companies collectively earning a net profit of Rs 3.48 billion. According to the financial statements published by these companies, the sector’s total profit has increased by 14.85% compared to the same period last year, when the figure stood at Rs 3.37 billion.

Nepal Life Insurance led the market in terms of profit generation, reporting a net profit of Rs 468.1 million, a 9.45% increase from Rs 427.7 million in the previous fiscal year. Himalayan Life secured the second position, earning Rs 376.2 million, marking an 8.73% rise from Rs 346 million. Reliable Nepal Life demonstrated remarkable growth, earning Rs 353 million within a short period.

Other companies also reported strong earnings. Sun Nepal Life posted a net profit of Rs 282.2 million, followed by National Life with Rs 279.1 million, IME Life with Rs 267.8 million, and Asian Life with Rs 250.3 million. Additionally, Sanima Reliance Life recorded a profit of Rs 231.6 million, while Citizen Life earned Rs 230.9 million.

MetLife Nepal registered a net profit of Rs 222.2 million, Suryajyoti Life Rs 196.1 million, and Prabhu Mahalaxmi Life Rs 182.2 million. LIC Nepal earned Rs 141.8 million, whereas Rastriya Jeevan Beema Company reported Rs 806.5 thousand in profits.

In terms of growth rate, Citizen Life Insurance recorded the highest profit increase, soaring by 86.78% compared to the previous fiscal year. Asian Life followed in second place with a 56.55% growth rate, while Reliable Nepal Life secured the third spot with a 51.70% increase.