Oriental Insurance Reports Net Profit of 82.9 Million in FY 2081/82

Kathmandu — The Oriental Insurance Company Limited has reported a sharp decline in its annual profit for the fiscal year 2081/82, according to financial statements published today. The company posted a net profit of Rs 82.9 million, an 86.9% drop from Rs 596.1 million in the previous fiscal year.

Business performance also weakened, with net insurance premium income falling by 5.52% to Rs 1.31 billion, compared to Rs 1.38 billion a year earlier. Total income decreased from Rs 1.77 billion to Rs 1.69 billion, while total expenses surged from Rs 1.1 billion to Rs 1.5 billion.

The commission paid to agents rose significantly, up 63.33% to Rs 104.4 million, compared to Rs 63.9 million in the previous fiscal year.

Despite the decline in profit, the company’s insurance fund grew notably, rising 57.24% from Rs 1.9 billion to Rs 2.99 billion. As a branch of a foreign company, The Oriental Insurance has no paid-up capital or earnings per share. It holds Rs 66.8 million in its catastrophe reserve fund, Rs 72.5 million in its retained earnings, and Rs 1.69 billion in its special reserve.