NLG Insurance Reports Decrease in Profit Despite Growth in Insurance Fund

November 21st, 2024

Kathmandu – NLG Insurance Company Limited has released its financial statement for the first quarter of the current fiscal year, revealing a mixed performance with a decrease in profit but a notable increase in the size of the insurance fund.

The company’s profit for the first quarter stands at Rs. 48.9 million, reflecting a 4.22% decrease compared to Rs. 51 million during the same period last year. Despite this decline, the size of the company’s insurance fund has grown by 34.19%, reaching Rs. 2.83 billion, showcasing the company’s strong foundation in the insurance sector.

 

The total insurance fee income for NLG Insurance has seen a slight decline, decreasing by 7.11% from Rs. 41.18 billion in the first quarter of last year to Rs. 35.47 billion this year. This drop in earnings reflects broader market trends but still underscores the company’s significant standing within the industry.

The company’s annual income per share is Rs. 12.71, while its net worth per share is Rs. 214.30, indicating a stable financial position despite the profit dip. NLG Insurance’s paid-up capital stands at Rs. 1.53 billion, reinforcing its strong financial base.

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