Reliable Nepal Life Insurance Reports 36.88% Rise in Net Profit in Q3

Kathmandu – Reliable Nepal Life Insurance Limited has posted strong financial results for the third quarter of the current fiscal year 2080/81, recording a net profit of Rs 465.7 million. This marks a 36.88% increase compared to the Rs 340.2 million profit reported during the same period last year.

The surge in profitability has positively impacted the company’s financial indicators. Earnings per share (EPS) rose by Rs 3.60 to Rs 13.88, while the net worth per share stands at Rs 167.97.

The company’s net premium income climbed by 27.18%, increasing from Rs 2.73 billion to Rs 3.47 billion. In line with this growth, total income rose by 27.13%, from Rs 3.74 billion last year to over Rs 4.76 billion this year. Total expenses also saw a comparable rise of 26.53%, reaching over Rs 4.31 billion from last year’s Rs 3.40 billion.

Reliable Nepal Life Insurance currently maintains a paid-up capital of Rs 4.64 billion. It has allocated Rs 207.9 million to its disaster fund and holds Rs 1.11 billion in its reserve fund. Notably, the company’s life insurance fund has grown significantly by 35.71%, reaching around Rs 12.44 billion from Rs 9.16 billion recorded in the same period last year.