Nepal Life Insurance Reports Rs 652.2 Million Net Profit in Q3, Life Insurance Fund Grows by 19.92%

Kathmandu — Nepal Life Insurance Company Limited has reported a net profit of Rs 652.3 million in the third quarter of the current fiscal year, marking an 8.64 percent increase from Rs 600.3 million recorded in the same period last year.

The company’s life insurance fund has seen significant growth, rising by 19.92 percent to exceed Rs 225.6 billion, up from Rs 188.1 billion in the previous year.

Nepal Life’s net earned premium has also increased, reaching Rs 32.5 billion, compared to Rs 29.12 billion recorded as of end of Chaitra last year. Likewise, total income climbed to Rs 477.2 billion, up from Rs 42.79 billion. Total expenses rose to Rs 44.9 billion from last year’s Rs 39.7 billion.

With a paid-up capital of Rs 9.2 billion, the company maintains Rs 1.32 billion in its disaster fund and Rs 1.18 billion in its reserve fund.

Despite the rise in net profit, the company’s earnings per share (EPS) slightly decreased to Rs 9.63, down from Rs 9.75 in the previous year. Its net worth per share currently stands at Rs 135.81.