Kathmandu. Current fiscal year 2082. In the first quarter of 1983 (July-September), the life insurance business was around Rs 2 billion.
According to the financial details released by life insurance companies, the life insurance companies have earned more than Rs 1.97 billion in the first three months of the current FY. Last year, 2081. During the same period, the companies brought in a turnover of Rs 1.92 billion. The company’s turnover increased by 2.51 percent in the review period compared to the previous year.
In the review period, Reliable Nepal Life Insurance was the top beneficiary followed by Sun Nepal Life Insurance in terms of business growth. Compared to the previous year, the turnover of 11 companies increased while the business of 3 companies decreased.
However, Nepal Life Insurance Insurance, Sun Nepal Life Insurance, Nepal Life Insurance Limited, IME Life Insurance, Sanima Life Insurance, National Life Insurance Insurance, Surya Jyoti Life Insurance and MetLife Insurance earned a profit so far. Profit of Himalayan Life Insurance Companies, Prabhu Mahalaxmi Life Insurance and Rastriya Life Insurance Company has decreased.
Top 5 Profitable Companies
Reliable Nepal Life Insurance Company has been the top gainer in the review period. The company made a profit of Rs 25.85 crore. The company had posted a net profit of Rs 19.93 crore in the same quarter last year. The company’s profit increased by 29.65 percent compared to the previous year.
Sun Nepal Life Insurance is the second highest profiter. The company had posted a net profit of Rs 23.92 crore in the review period of the previous year, up from Rs 16.61 crore in the corresponding period of the previous year. The company’s net profit during the review period increased by 44.02 percent compared to the previous year.
Similarly, Nepal Life Insurance has become the third highest profitable company. The company earned a net profit of Rs 21.55 crore in the review period. The company had posted a net profit of Rs 20.54 crore in the same quarter last year. The company’s profit increased by 4.94 percent compared to the previous year.
During the review period, IME Life earned a net profit of Rs 15.83 crore and Asian Life earned Rs 15.25 crore. In the same period last year, IME Life had posted a net profit of Rs 14.50 crore and Asian Life Insurance had posted a net profit of Rs 13.29 crore. Compared to the previous year, the profit of IME Life and Asian Life increased by 9.17 percent and 14.70 percent, respectively.
