NLG Insurance Posts Rs 123.3 Million Profit in Q3, Business Indicators Show Growth

Kathmandu – NLG Insurance Company Limited has released its financial report for the third quarter of the current fiscal year, showcasing a mixed performance with strong growth in key business indicators despite a decline in net profit.

The company recorded a net profit of Rs 123.3 million during the review period, reflecting a 9.78% decrease from Rs 136.7 million earned in the corresponding period of the previous fiscal year. Despite this dip, NLG Insurance demonstrated robust progress in premium income, claim settlements, and financial management.

The total insurance premium income rose by 7.69% to reach Rs 1.87 billion, compared to Rs 1.74 billion during the same period last year. The company’s commitment to timely claim settlements was also evident, with claim payments surging by 56.70% to Rs 1.71 billion over the nine-month period.

NLG Insurance generated Rs 134.2 million through loans and investments, while total expenses rose to Rs 866.5 million. The earnings per share (EPS) stood at Rs 6.57 and a net worth per share of Rs 180.32.

As of the end of the third quarter, the company boasts a paid-up capital of Rs 2.5 billion, a reserve fund of Rs 111.6 million, and an insurance fund totaling Rs 4.33 billion. The company currently has 144,000 active insurance policies.