National Insurance Publishes FY 2081/82 Financial Results

Kathmandu — National Insurance Company Limited has posted a net loss of Rs 623.9 million for the fiscal year 2081/82, a sharp reversal from the Rs 266.7 million profit recorded in the previous year, according to its fourth-quarter financial statement released today.

The company’s total income declined from Rs 906.8 million in the previous fiscal year to Rs 709 million, while total expenses surged to Rs 1.3 billion from Rs 423 million. Net insurance premiums fell by 9.45%, from Rs 619.1 million to Rs 566.6 million, during the review period.

Despite the loss, the company’s insurance fund grew significantly—rising 69.85% to Rs 2.7 billion, compared to Rs 1.58 billion the previous year.

Spending on agents decreased to Rs 3.5 million, more than double the Rs 10.7 million reported in the prior year. The insurer, which has no paid-up capital, reported Rs 1.45 billion in special reserves, Rs 32.1 million in its disaster fund, and Rs 1.42 billion in its reserve fund.