MetLife’s profit up nearly 5 percent, life insurance fund reached about 24 billion

Kathmandu : There has been an increase in the profit of MetLife. According to the financial statement of the first quarter of the current financial year, the profit of MetLife has increased by 4.89 percent compared to the previous financial year.

In the first quarter of the last financial year, the company made a profit of 88.2 million, and in the same period of this financial year, it made a profit of 92.5 million.

During the first 3 months, MetLife earned a total of 1.36 billion in insurance fees. Out of the total insurance fee, there are 1.6 billion renewal insurance fee and 30.35 million first insurance fee. Compared to the last financial year, the total insurance fee income is 4.43 percent higher.

Met life’s first insurance premium has decreased by 9.41 percent. An increase of 9.33 percent has been observed in the renewal insurance fee. The company has earned 1 billion 31 million net insurance premiums through reinsurance.

MetLife has reserves of 42.18 million in catastrophe reserve, 2.27 billion in retained earnings and 86.75 million in other reserves. And the life insurance fund has reached 24.92 billion.