9 Life Insurance companies earns Rs 57.39 crore in Q4; total profit decline

ShareSansar, August 31:

The total net profit earned by all the Life Insurance Companies stood at Rs 57.39 crorefor the fourth quarter of fiscal year 2071/72 compared to Rs 74.99 crore except RastriyaBeemaSansthan (RBS)of the corresponding previous fiscal year as per the unaudited report. As RBS has not disclosed unaudited data of the corresponding quarter ofthe previous quarter.

In the table below, going by the profit for the past three year,Nepal Life Insurance Company (NLICL) has managed to maintain its level at the top.  It has the highest net profit of Rs17.97 among all the life insurance company in the fiscal year 2071/72.  In the fiscal year 2069/70, National Life Insurance has the highest net profit of Rs 29.37 crore.

Meanwhile, Surya Life Insurance Company Limited stood worst, as it has lowest net profit compared to other insurance companies.

The net profit of the life insurance companies would drastically increase after the actuary evaluation figure unveils and that comes to public only when the audited report is approved by the regulatory body.

*American Life Insurance Company Limited and Rastriya Beema Sansathan has not floated its IPO to general public.

Now, going by the audited profit figure in the table given below, Nepal Life Insurance has the highest profit among other life insurance companies. In the audited figure of fiscal year 2071/72, it has a net profit of Rs 61.41 crore.  

As we can see that, Nepal life, LIC Nepal and National life Insurance profit drastically declined in fourth quarter of last fiscal year 2071/72 compared to previous year report of the fiscal year 2070/71.