Citizen Life Insurance Reports Rs 425 Million Profit, Life Insurance Fund Jumps 39%

Kathmandu — Citizen Life Insurance Company Limited has posted a net profit of Rs 425.01 million for the fiscal year 2081/82, marking a 1.16% decline from the previous year’s Rs 430.01 million

Despite the slight drop in profit, the company achieved robust growth in several key indicators. Net earned insurance premium income surged by 22.09% to Rs 7.13 billion, compared to Rs 5.84 billion in the previous fiscal year. Similarly, total income climbed to Rs 9.79 billion from Rs 7.57 billion, while total expenses rose to Rs 8.77 billion from Rs 7.19 billion.

The company’s life insurance fund grew sharply by 39.02% to Rs 19.85 billion, up from Rs 14.28 billion last year. However, earnings per share (EPS) fell to Rs 8.50 from Rs 10.92, with net worth per share recorded at Rs 148.71.

Citizen Life’s paid-up capital increased from Rs 3.93 billion to Rs 5 billion. The company’s share premium stands at Rs 449.6 million, catastrophe fund at Rs 217.9 million, and reserve fund at Rs 1.3 billion.