IME Life Earns Rs 367.9 Million Profit in Nine Months; Life Insurance Fund Nears Rs 17 Billion

Kathmandu — IME Life Insurance Company Limited has published its financial results for the third quarter of the current fiscal year. The report shows improvements in most key indicators, including profit, compared to the same period last year.

The company posted a net profit of Rs 367.9 million during the review period, a slight increase from Rs 366.3 million recorded by mid-April last year.

During the period, net insurance premium income rose by 39.18 percent, increasing from Rs 3.60 billion to over Rs 5.01 billion. Similarly, the life insurance fund grew by 42 percent, rising from Rs 11.84 billion to more than Rs 16.83 billion—bringing it close to Rs 17 billion.

Total income increased by around 28 percent, from Rs 4.82 billion to Rs 6.17 billion. Meanwhile, total expenses rose by 30 percent, from Rs 4.46 billion to Rs 5.81 billion.

By mid-April, the company had paid Rs 436.4 million in commissions to its agents, nearly 30 percent higher than in the same period last year. Earnings per share increased by Rs 0.04 to Rs 9.81, while net worth per share stood at Rs 131.49. The solvency ratio was reported at 2.59 percent.

With a paid-up capital of Rs 5 billion, the company maintains Rs 299.5 million in its catastrophe fund, Rs 520.8 million in reserves, and Rs 523.8 million in share premium. By the end of the review period, total investments exceeded Rs 20.75 billion, while total assets crossed Rs 24.69 billion.