IME Life Insurance Reports 11.22% Increase in First Quarter

Kathmandu – IME Life Insurance Company has reported an 11.22% increase in its net profit for the first quarter of the current financial year, compared to the same period last year. The company’s net profit rose from NPR 130.3 million to NPR 145 million, reflecting strong financial performance driven by increased income.

The company’s total income for the first quarter reached NPR 1.58 billion, up from NPR 1.36 billion last year, further bolstering profitability. One of the key highlights is the 42.72% growth in the company’s life insurance fund, which has risen from NPR 7.5 billion last year to over NPR 10.7 billion this year.

IME Life Insurance also saw a positive rise in net insurance premiums, with earnings growing from NPR 1.3 billion last year to NPR 1.16 billion this year. The company’s paid-up capital remains steady at NPR 5 billion, while its retained earnings now stand at NPR 1.23 billion. The disaster fund is at NPR 194.1 million and the share premium totals NPR 523.8 million.

Despite the overall increase in profit, the company’s earnings per share (EPS) saw a slight decline, falling from NPR 13.4 to NPR 11.60, a decrease of NPR 1.44. The net worth per share is NPR 150.66.