MetLife Nepal Sees 27% Rise in Profit, Life Insurance Fund Surpasses Rs 28 Billion

Kathmandu – MetLife Nepal (Met American Life Insurance Company Limited) has reported a notable 27.61 percent increase in net profit in its unaudited third-quarter financial statement for the current fiscal year. The company posted a net profit of Rs 345.1 million by end of Chaitra, up from Rs 270.4 million recorded during the same period last fiscal year.

The company’s life insurance fund also saw significant growth, increasing by 13.26 percent to Rs 28.39 billion, compared to Rs 25.7 billion in the corresponding period last year.

MetLife’s net premium income rose by 7.27 percent to Rs 4.26 billion, up from Rs 3.97 billion last year. Similarly, total income grew by 6.16 percent, reaching Rs 6.45 billion compared to Rs 6.08 billion previously.

On the expenditure side, the company’s total expenses increased by 5.19 percent, amounting to over Rs 5.78 billion, as opposed to around Rs 5.49 billion last year.The company holds Rs 562.3 million in its disaster fund and Rs 2.52 billion in its reserve fund.