Asian Life Insurance Reports 59.51% Surge in Net Profit in Q3

Kathmandu – Asian Life Insurance Company Limited has recorded a robust financial performance in the third quarter of the current fiscal year, reporting a net profit of Rs 334.7 million as of end of Chaitra. This marks a significant 59.51 percent increase compared to the Rs 209.8 million net profit during the same period in the previous fiscal year.

The company’s earnings per share (EPS) rose by Rs 4.90, reaching Rs 13.13 this fiscal year from Rs 8.23 last year.

Asian Life’s net premium income also saw substantial growth, rising by 13.61 percent from Rs 5.61 billion to over Rs 6.37 billion. In addition, the company reported a 7.35 percent increase in total income, which climbed from Rs 8.60 billion to Rs 9.23 billion. Total expenses followed a similar upward trend, increasing by 6.80 percent to surpass Rs 8.45 billion, up from Rs 7.91 billion.

The company’s paid-up capital currently stands at Rs 3.39 billion. It has allocated Rs 260.6 million to its disaster fund and Rs 638.8 million to its reserve fund.

Furthermore, the life insurance fund experienced an 11.21 percent rise, reaching Rs 45.63 billion in the current fiscal year compared to Rs 41.03 billion in the previous year. The company’s net worth per share is reported at Rs 128.57.