Nov Sat 2023 08:00:50
Kathmandu. 14 non-life insurance companies currently operating in Nepal and 13 companies have published their unrefined financial statements for the first quarter of the current financial year. Till this period, 13 non-life insurance companies have managed to earn a profit of 89 crore 12 lakh 39 thousand rupees. In the same period of the last financial year, the companies earned a profit of 798 million 33 thousand rupees. Compared to the same period of the last financial year, the profit of the companies has increased by 11 percent. Based on the financial statements published by the companies, the net profit of non-life insurance companies has increased by 11.68 percent compared to last year.
Among the non-life insurance companies, the net profit of Oriental Insurance and National Insurance has decreased in the first quarter, while the profit of all other companies has seen a significant improvement. Nepal Insurance is one of the companies that earned the highest profit in the first quarter. The company has earned a profit of Rs. 14 crore 61 lakh 76 thousand till that period.
Also, after joining the merger, Siddharth Premier Insurance has become the second most profitable company. The company has earned a profit of Rs 14 crore 61 thousand till this period. Similarly, Shikhar Insurance Company has earned a profit of 112 million rupees during this period. Sagarmatha Lumbini Insurance Company has earned a profit of 57 million rupees.
Himalayan Everest Insurance has earned a profit of Rs 5 crore 34 lakh. NLG Insurance Company has managed to earn a profit of 50 million 14 million rupees. IGI Prudential Insurance has managed to earn a profit of Rs 5 crore 11 lakh. Prabhu Insurance Company has managed to earn a profit of Rs. 50.6 million. Sanima GIC has earned a profit of Rs 337 million.