Life Insurance Companies Net Profit Soars by 11.93% in Third Quarter of Current FY 2081/82

Kathmandu – The net profit of life insurance companies in Nepal surged by 11.93% in the third quarter of the current fiscal year, reflecting positive business momentum and improved management practices across the sector.

According to the financial statements published by all 14 life insurance companies currently in operation, the industry collectively earned a net profit of Rs 4.88 billion during this period. In comparison, the same quarter last fiscal year saw a combined net profit of Rs 4.36 billion.

Nepal Life Insurance and Asian Life Insurance led the market in terms of profit volume and growth rate. Nepal Life Insurance posted a net profit of Rs 652.2 million, marking an increase of 8.64% compared to the corresponding quarter of the previous year. Asian Life Insurance reported a net profit of Rs 334.7 million, registering the highest year-on-year growth of 59.51%.

Source: According to financial statements published by life insurance companies

Himalayan Life stood second in profit volume, earning Rs 472.4 million, up by 8.49% from Rs 435.4 million. Reliable Nepal Life demonstrated remarkable progress, securing Rs 465.7 million in profit and achieving the second-highest growth rate of 36.88%.

Other companies also recorded encouraging figures. National Life earned Rs 408.5 million, IME Life Rs 366.3 million, Citizen Life Rs 357.6 million, Met Life Rs 345.1 million, Sanima Reliance Rs 337.6 million, and Sun Nepal Life Rs 328.9 million.

SuryaJyoti Life earned Rs 295.7 million and reported the third-highest growth rate of 31.90%. Prabhu Mahalaxmi Life reported a profit of Rs 270.7 million, LIC Nepal Rs 236 million, and Rastriya Jeevan Beema Company Rs 15.4 million.