National Life Insurance Records Rs 140.8 Million Net Profit in Q1

Kathmandu — National Life Insurance Company Limited has reported a net profit of Rs 140.8 million in the first quarter of the current fiscal year, marking a modest 1.81 percent increase compared to the Rs 138.3 million earned during the same period last fiscal year.

The company’s net insurance premium income rose sharply, increasing by nearly 14 percent to Rs 552.94 million, up from Rs 485.11 million in the corresponding quarter last year. National Life’s life insurance fund also expanded significantly, jumping by 24.72 percent to Rs 936.35 million, compared to Rs 757.74 million as of the end of the Ashoj in the previous fiscal year.

During the review period, the insurer’s total income grew by 9.23 percent to Rs 731.14 million, while total expenses rose by 10.58 percent to Rs 696.91 million, driven by higher operational, administrative, and agent-related costs.

The company paid Rs 477.1 million in agent commissions over the three months, up by almost 12 percent from Rs 426.1 million in the first quarter of the last fiscal year.

Despite growth in premium and fund size, the company’s earnings per share (EPS) declined slightly by Rs 0.36, falling from Rs 10.66 to Rs 10.30. National Life’s net worth per share stands at Rs 131.54.

The insurer maintains a paid-up capital of Rs 5.47 billion, a share premium reserve of Rs 27.8 million, Rs 681.3 million in its disaster fund, and Rs 638 million in its reserve fund.