LIC Nepal’s Reports Growth in Life Insurance Fund by 132.92 Billion

Kathmandu — Life Insurance Corporation (Nepal) Limited (LIC Nepal) has reported a net profit of Rs 315.8 million for the fiscal year 2081/82, marking a significant decline of 61.92% from Rs 829.6 million earned in the previous year.

Despite the drop in profit, LIC Nepal expanded its life insurance fund by 11.49% to Rs 132.92 billion, up from Rs 119.22 billion in the previous fiscal year. Net insurance premium income also grew by 10.18% to Rs 19.82 billion during the period, compared to around Rs 17.99 billion in the prior year.

Total income increased from Rs 29.97 billion to Rs 32.33 billion, while total expenses rose from Rs 26.71 billion to Rs 29.55 billion.

The decline in profit affected the company’s earnings per share (EPS), which fell from Rs 15.75 to Rs 5.74, while net worth per share remained steady at Rs 187.47.

LIC Nepal’s paid-up capital nearly doubled to Rs 5.50 billion from Rs 2.65 billion. The company also maintains a share premium of Rs 498 million, a disaster fund of Rs 688 million, and retained earnings of nearly Rs 2.99 billion.