Liberty Micro Life Insurance Reports 104% Surge in Net Profit in Q1

Kathmandu – Liberty Micro Life Insurance has reported a strong financial performance in the first quarter of the current fiscal year, earning a net profit of Rs 21.66 million. This marks a 104.73 percent increase compared to the Rs 1.058 million recorded in the same period of the previous fiscal year.

During the review period, the company’s life insurance fund expanded significantly. The fund, which stood at Rs 23.9 million as of Ashoj last fiscal year, increased by 1014.56 percent to reach Rs 26.7 million this year, reflecting improved growth in premium collection and fund management.

Liberty Micro Life Insurance also recorded a substantial rise in its net interest income, jumping from Rs 19.5 million to Rs 95.1 million, an increase of 386.18 percent. The company’s total income rose by 217.34 percent, climbing from Rs 33.3 million to Rs 105.8 million. Similarly, total expenses increased from Rs 32.3 million to Rs 103.7 million.

The company currently has a paid-up capital of Rs 525 million, along with Rs 931,000 in its disaster fund and Rs 665,000 in its reserve fund.