Sun Nepal Life Insurance Reports 33% Rise in Premium Income in Q3

Kathmandu — Sun Nepal Life Insurance Company has reported a 33 percent surge in total premium income for the third quarter of the current fiscal year. The company recorded a total premium income of Rs 3.71 billion, up from Rs 2.78 billion during the same period last year.

Net premium income also climbed by 34 percent, reaching Rs 3.34 billion, compared to Rs 2.49 billion in the corresponding period of the previous fiscal year.

Despite the growth in premium collections, the company’s net profit declined. It posted a net profit of Rs 328.9 million for the quarter, down from Rs 493.6 million in the same period last year.

Income from investments and loans also dipped by 2.24 percent, amounting to Rs 637.7 million, compared to Rs 652.3 million in the previous year.

As of the third quarter, the company’s life insurance fund stands at Rs 7.69 billion. Its paid-up capital is Rs 3.96 billion, while retained earnings total Rs 819.4 million.

The company’s earnings per share (EPS) remain steady at Rs 11.07, with a net worth per share of Rs 164.23.