Asian Life Insurance Posts 14.70% Profit Growth in Q1 of FY 2082/83

Kathmandu – Asian Life Insurance has published its unaudited financial report for the first quarter of the current fiscal year 2082/83, showing notable improvements across most performance indicators.

According to the company, net profit increased by 14.70 percent to Rs 152.5 million in the first three months of the fiscal year. During the same period last year, the insurer had recorded a profit of Rs 132.9 million.

The size of the company’s life insurance fund rose significantly to Rs 48.48 billion, marking an 11.22 percent growth compared to the corresponding period of the previous fiscal year.

Similarly, the insurer’s reserve fund expanded by 16.85 percent, reaching Rs 941.4 million. During the same period last year, the reserve stood at Rs 805.6 million. The disaster fund also grew moderately by 5.45 percent to Rs 294.9 million. The company’s paid-up capital remains at Rs 4.82 billion.

Asian Life Insurance also reported an improvement in its core business performance. Net insurance premium income climbed 13.16 percent to Rs 2.284 billion, up from Rs 2.10 billion in the first quarter of the previous fiscal year.

The company’s earnings per share (EPS) stood at Rs 12.64, while net worth per share reached Rs 130.12 during the review period.