How Did Life Insurance Companies Perform in the Third Quarter? (With List)
Kathmandu — Life insurance companies have already published their financial statements for the third quarter. According to the data released by the companies, although most firms managed to maintain profit growth, the overall industry profit contracted as earnings of a few large companies declined.
Based on the unaudited financial reports published by life insurance companies, the total profit of the life insurance industry has decreased. The combined profit of 14 life insurance companies stood at NPR 4.592 billion during the review period, compared to NPR 4.8617 billion in the same period last year.
On this basis, the overall profit of the life insurance sector has declined by 5.55 percent.
In terms of paid-up capital, Nepal Life and Himalayan Life are in the leading position. Based on retained earnings, LIC Nepal and MetLife are ahead.
Similarly, in terms of business volume, Nepal Life remains at the top. The company has managed to collect NPR 36.70 billion in net insurance premiums up to the third quarter.
In terms of life insurance fund size, Nepal Life is also in the leading position, with NPR 265 billion accumulated in its insurance fund.
LIC Nepal has NPR 143 billion, while National Life has NPR 100 billion in accumulated funds.
Likewise, in terms of profit, Reliance Nepal Life is at the top. The company has recorded a profit of over NPR 470 million during the review period.
In terms of EPS, Reliance Nepal Life is also the strongest performer, with an EPS of NPR 12.07 during the period.