As per the published third quarter reports of the companies, twelve listed life insurance companies raised their profit by 9.28 percent compared to the corresponding period of the last FY.
In detail, eleven life insurance companies managed to raise their profits while one company logged decline in net profit during the period.
In the review period, Asian Life Insurance logged highest growth in net profit. The company increased its net profit by 59.51 percent to Rs 334.7 million during the period. After Asian Life, Reliable Nepal Life Insurance, Citizen Life Insurance, Life Insurance Corporation (Nepal) logged the highest growth in the third quarter.
Meanwhile, Sun Nepal Life Insurance is the only company in the group that logged decline in net profit. It recorded 33.36 percent decline in net profit to Rs 320.9 million.
Life Insurance Corporation (Nepal) Maintains Biggest Reserve
In terms of reserve, Life Insurance Corporation (Nepal) has the highest reserve of Rs 4.27 billion. Its reserve increased by 92.50 percent compared to Rs 2.21 billion of the corresponding period of the last FY.
Meanwhile, twelve insurance companies logged decline in reserve by 17.44 percent. SuryaJyoti Life Insurance logged 67 percent decline in reserve, Sanima Reliance Life logged 62.28 percent and IME Life logged 52.11 percent fall in reserve.
Reliable Nepal Life has Highest EPS
In terms of EPS, Reliable Nepal Life Insurance has the highest EPS of Rs 13.37, while, Life Insurance Corporation (Nepal) has the lowest EPS of Rs 6.29.
In terms of net worth, Life Insurance Corporation (Nepal) has the highest net worth while Sanima Reliable Life Insurance has lowest net worth in the third quarter.
Guardian Micro Leads Among Micro Life Insurance
Currently, two micro life insurance companies including Guardian Micro Life Insurance Company and Crest Micro Life Insurance Company are listed in Nepal Stock Exchange (NEPSE).
In the third quarter of the current FY, Guardian Micro earned Rs 27.4 million in net profit while Crest earned Rs 10.5 million in net profit. Guardian Micro has Rs 22.2 million in reserve and Crest has Rs 19.5 million in reserve. Guardian has EPS of Rs 4.87 and net worth of Rs 102.93 while Crest has EPS of Rs 1.87 and net worth per share of Rs 102.88.
