Sanima Reliance Life Insurance Reports 12.53% Profit Growth in Q1

Kathmandu – Sanima Reliance Life Insurance Company Limited has published its unaudited financial statements for the first quarter of the current fiscal year, showing significant growth across key economic indicators.

The company recorded a net profit of Rs 149.6 million in Ashoj of the current fiscal year, up 12.53 percent from Rs 132.9 million earned during the same period last year.

Net insurance premium income also rose sharply, increasing 18.52 percent from Rs 1.50 billion in the first quarter of the previous fiscal year to Rs 1.78 billion in the current period. Total income grew by 7.41 percent to Rs 2.25 billion, while total expenses increased by 7.07 percent to Rs 2.10 billion.

The insurer managed to reduce its insurance claim payouts, which fell 14.12 percent from Rs 465.1 million to Rs 399.7 million. In contrast, agent commissions rose 14.12 percent, reaching Rs 171.1 million.

Sanima Reliance Life Insurance maintains a paid-up capital of Rs 5.15 billion, with Rs 149.2 million in its disaster fund and Rs 406.9 million in its reserve fund. Earnings per share (EPS) increased from Rs 10.74 to Rs 11.93, while net worth per share stands at Rs 110.57.