Profit of life insurance companies up by 49%

ShareSansar, November 24:

The life insurance companies have posted an impressive 49 percent rise in the net profit in the first quarter of the current fiscal year 2070/71.

Compared to the net profit of Rs 10.86 crore in the corresponding quarter of the last fiscal year, the life insurance companies have earned the net profit of Rs 16.17 crore in the first quarter.

The life insurance companies which registered a surge in its profit include Nepal, National, Prime and Asian Life insurance companies while others such as Met Life Alico, Surya and Life Insurance Corporation’s profit dipped slightly.

It may also be noted here that the life insurance companies have succeeded to sell 10 percent more schemes during the first quarter – altogether 23 lakh schemes compared to 21 lakh schemes in the corresponding quarter.