Kathmandu. All 14 non-life insurance companies have published their financial statements for the first quarter of the fiscal year 2082/83. According to the financial details published by the companies, all the companies except Prabhu Insurance and National Insurance have seen negative profit.
The losses caused by the GenG agitation in Nepal this year have negatively impacted the profits of non-life insurance companies during the review period. The profitability of non-life insurers has been affected due to the impact of floods, landslides and natural disasters caused by climate change.
Looking at the data till mid-October, only Prabhu Insurance Company has been able to increase its profit. The company’s net profit increased by 12 percent compared to the same period last year. During the period, the company made a profit of Rs 6.31 crore.
On the other hand, National Insurance Company had posted a net profit of Rs 3.81 crore in the review period of the previous year.
In the review period, the national insurance company incurred a loss of Rs 9.95 crore. The company had posted a net profit of Rs 15.65 crore in the same quarter last year. Shikhar Insurance Company has posted a net profit of Rs 15.85 crore in the first quarter of the current fiscal year 2082/83.
Neco Insurance Company has earned a net profit of Rs 8.31 crore in the first quarter of the current fiscal year 2082/83. In the first quarter of the current fiscal year 2082/83, Himalayan Everest Insurance Company has earned a net profit of Rs 6.61 crore. Siddhartha Premier Insurance Company has posted a net profit of Rs 29.85 crore in the first quarter of the current FY.
IGI Prudential Insurance Company has posted a net profit of Rs 20.76 crore in the first quarter of the current fiscal year 2082/83.
Sanima GIC Insurance Company has posted a net profit of Rs 200.2 million in the first quarter of the current fiscal year 2082/83.
NLG Insurance Company has posted a net profit of Rs 10.10 crore in the first quarter of the current fiscal year 2082/83.
In the first quarter of the current fiscal year 2082/83, Nepal Insurance Company has earned a profit of Rs 10.4 million. In the first three months of the current fiscal year, United Ajod Insurance has incurred a loss of Rs 15.11 crore. The company had posted a loss of Rs 1.81 crore in the same quarter of the previous year.
Sagarmatha Lumbini Insurance Company has posted a loss of Rs 26.73 crore in the review period of the previous year. Oriental Insurance Company has incurred a loss of Rs 28.48 crore in the review period. The company had posted a net loss of Rs 24.51 crore in the same quarter of the previous year.
