National Insurance Company Records Rs 728.1 Million Loss in Q3 Despite Surge in Premium Income

Kathmandu — National Insurance Company Limited has published its financial report for the third quarter of the current fiscal year, revealing a downturn in its financial performance.

According to the report, the company has incurred a loss of Rs 728.1 million during the nine-month review period. This marks a sharp contrast to the same period in the previous fiscal year, when the company had recorded a profit of Rs 141 million.

Despite the loss, the company’s total insurance premium income has shown significant growth. The total premium income surged by 62 percent, reaching Rs 900.6 million. Of this, the net insurance premium stood at Rs 373.2 million.

As per the report, the company has paid out Rs 470.1 million in insurance claims during the period. Meanwhile, total expenditure reached to Rs 1.22 billion.

The company currently holds reserves amounting to Rs 3.12 billion in its insurance fund and Rs 32.1 million in its disaster fund. It has also maintained 17,738 active insurance policies.