The net profit of the life insurance company increased by 20 percent

Kathmandu : By the second quarter of the current financial year, the net profit of the life insurance companies under management has increased by 20.43 percent. This has been shown in the financial statements published by the companies up to the end of the current year (end of Paush, 2080 B.S). Whereas, the Rastriya Jeevan Beema Company has not published financial statements yet.

By the second quarter of the current financial year, life insurance companies have earned a net profit of 3 billion 69 million 869 thousand rupees. Which is 20.43 percent more than last financial year. In the same period of the last financial year (end of Paush, 2079 B.S), the profit of the company was 2 billion 549 million 133 thousand Rupees.

According to the financial statements published by the life insurance companies, the net profit of the two companies has declined. The profit of Himalayan Life and Sun Nepal Life decreased in the middle of the current year. Himalayan’s profit decreased by 8.24 percent and it is the second highest profit life insurance company. Even though the profit of Sun Nepal has decreased by 7.22 percent, it has managed to become the third company with the highest profit.

Reliance and IME Life are the ones that have increased the profit the most. Both companies have increased by 96.48 and 96.14 percent respectively.

Nepal Life is one of the most profitable company. The profit of the company has increased by 12.90 percent to Rs.42 7 million 7 37 thousand Rupees. In the same period of the last financial year, the profit of the company was 3 78 million 867 thousand Rupees.

Similarly, the profit of National Life increased by 16.91 percent to Rs.255 million 154 thousand Rupees, Suryjyoti Life increased by 62.93 percent to 236 million 630 thousand Rupees, IME Life increased by 96.14 percent to Rs. 234 million 725 thousand, Reliable Nepal increased by 4.97 percent to 230 million 979 thousand Rupees, Sanima Reliance increased by 96.48 percent to 219 million 730 thousand Rupees.

Similarly, the profit of Met Life increased by 33.53 percent to Rs.193 million 850 thousand, Prabhu Mahalaxmi Life increased by 36.10 percent to Rs. 176 million 423 thousand Rupees, Asian Life increased by 11.45 percent to Rs.159 million 892 thousand, NIC Nepal increased by 59.79 percent to Rs.136 million 625 thousand and Citizen Life has increased by 2.73 percent to 123 million 657 thousand Rupees.

Note: We have prepared the presented profits based on the financial statements published by the companies. The actual figures may not represent the last year’s profit of the merged companies.