Nepal Insurance Reports Steady Growth in Premiums and Profit in FY 2081/82

Kathmandu — Nepal Insurance Company Limited has posted steady growth in key financial indicators, including premium income and profit, in the fiscal year 2081/82, according to its final quarterly financial statement released today.

The country’s oldest insurance company earned a total insurance premium of Rs 1.83 billion during the review period, up from Rs 1.56 billion in the previous fiscal year. Net insurance premium income rose to Rs 955 million from Rs 713 million a year earlier.

Net profit also saw a modest increase, reaching Rs 316.4 million compared to Rs 303.7 million in the same period last year. The company reported earnings per share of Rs 16.74, a price-to-earnings ratio of 38.55 times, and a net worth per share of Rs 198.88.

Currently in the process of raising its paid-up capital through a rights share issue, Nepal Insurance holds a reserve fund of Rs 162.2 million, other equity of Rs 102.9 million, a catastrophe fund of Rs 111.2 million, and a special reserve of Rs 1.49 billion.