Nepal Insurance Company Records Strong Growth in Premium Income and Insurance Fund

Kathmandu – Nepal Insurance Company Limited has released its first-quarter financial statement for the current fiscal year, reporting notable growth in both business volume and income.

The company’s net insurance premium income increased significantly, rising from Rs 136.6 million by the Ashoj last fiscal year to Rs 207.9 million in the same period this year — a substantial 52.16 percent growth.

Similarly, the company’s total income expanded by 10.54 percent, reaching Rs 324.7 million, compared to Rs 293.7 million last year. Total expenses for the period stood at Rs 462.4 million, up from Rs 275.2 million in the previous fiscal year.

In addition, the company’s insurance fund has shown strong expansion. The fund size, which was Rs 2.03billion in the first quarter of the last fiscal year, increased by 54.65 percent to Rs 3.14 billion during the current review period.

Nepal Insurance Company currently maintains a paid-up capital of Rs 2.54 billion, share premium of Rs 81.4 million, a special reserve of Rs 1.49 billion, a disaster fund of Rs 111.2 million, and a reserve fund of Rs 65.8 million. The company’s earnings per share (EPS) for the period stand at Rs -3.78.