NLG Insurance Posts Profit Growth, Expands Insurance Fund in FY 2081/82

Kathmandu — NLG Insurance Company Limited has reported positive growth in key financial indicators for the fiscal year 2081/82, according to the annual financial statements released by the company.

The company’s net profit rose by 9.66 percent, reaching Rs 161.1 million by the end of the fiscal year, compared to Rs 146.9 million in the same period last year. The company also posted a significant surge in net insurance premium income, which jumped 46.62 percent from Rs 640.5 million to Rs 939.2 million.

NLG’s insurance fund expanded by 18.64 percent during the review period, increasing from Rs 2.85 billion to Rs 3.38 billion. Total income for the year stood at Rs 1.52 billion, up from Rs 1.27 billion, while total expenses declined from Rs 1.04 billion to Rs 1.28 billion.

Despite these gains, earnings per share (EPS) fell from Rs 9.55 to Rs 6.28. The company’s net worth per share remained steady at Rs 177.06.

The company’s paid-up capital reached Rs 2.56 billion. The company’s financial reserves include Rs 85.7 million in its catastrophe fund, Rs 57.4 million in its reserve fund, Rs 271.9 million in its share premium, and Rs 1.38 billion in its special reserve.