Himalayan Life Insurance Reports Rs 546.9 Million Profit, Life Insurance Fund Reaches Rs 76.94 Billion

Kathmandu — Himalayan Life Insurance Limited has reported a net profit of Rs 546.9 million for the fourth quarter of fiscal year 2081/82, marking a 13.71% decline from Rs 633.8 million in the same period last year.

Despite the drop in profit, the company’s business expanded. Net insurance premium income increased by 6.60% to Rs 17.26 billion, up from Rs 16.19 billion in the previous fiscal year. The life insurance fund grew by 19.48% to Rs 76.94 billion, compared to Rs 64.39 billion last year.

The company paid Rs 7.33 billion in claims, a 22.43% increase from the previous year. Total income rose by 12.04% to Rs 25.41 billion, while total expenses increased by 8.12% to Rs 23.83 billion. Agent commissions expenses grew by 5.59%, from Rs 1.38 billion to Rs 1.46 billion.

Earnings per share (EPS) fell from Rs 7.90 to Rs 5.98, while net worth per share remained at Rs 111.20. Paid-up capital increased by 14% to Rs 9.14 billion. The company maintains a disaster fund of Rs 465.9 million and retained earnings of Rs 702.9 million.