Banking News – Nepal Life Insurance Company Limited recorded a profit of Rs. 465.4 million in the fiscal year 2082/83, according to its financial statements. The company’s profit declined compared to the previous fiscal year, when it had earned Rs. 547.6 million.

The company generated Rs. 53.45 billion in net insurance premiums during the last fiscal year, up from Rs. 47.66 billion in the previous fiscal year. Similarly, the company paid Rs. 62.84 billion in net claims, compared to Rs. 57.37 billion in the previous fiscal year.

During the last fiscal year, Nepal Life recorded total income of Rs. 74.33 billion and total expenses of Rs. 70.76 billion. In the previous fiscal year, the company had recorded total income of Rs. 68.30 billion and total expenses of Rs. 64.26 billion.

By the end of the last fiscal year, the company’s paid-up capital stood at Rs. 9.48 billion. Its catastrophe fund stood at Rs. 1.54 billion, while the reserve fund amounted to Rs. 790 million.

The company’s life insurance fund reached Rs. 273.55 billion. Its earnings per share (EPS) stood at Rs. 4.91, while net worth per share stood at Rs. 126.07.