During the period, the listed insurance companies increased the premium collection by 35.59 percent compared to Rs 40.88 billion of the corresponding period of the last FY.
Similarly, the companies increased their net profit by 26.36 percent to Rs 1.67 billion compared to Rs 1.32 billion of the review period of the previous FY.
The companies maintained Rs 183.57 billion in life insurance fund and Rs 6.54 billion in reserve fund.
If one looks at the complete picture of the domestic life insurance sector, it is noticeable that Nepal Life Insurance has left behind all insurance companies in terms of growth.
Nepal Life with a paid-up capital of Rs 5.49 billion has a reserve fund of Rs 2.43 billion and life insurance fund of Rs 65.36 billion. The company collected a net insurance premium of Rs 22.82 billion and earned a net profit of Rs 523.2 million.
In the mean time, Gurans Life Insurance earned the lowest net insurance premium during the period and has the lowest reserve fund and paid-up capital.
Gurans Life has paid-up capital of Rs 938.5 million which is the lowest among the companies. However, it will soon issue 100 percent right shares to meet the required minimum paid-up capital.
The company also earned the lowest insurance premium of Rs 1.89 billion and has a reserve fund of Rs 270 million.
In terms of life insurance fund, Surya Life has the lowest life insurance fund of Rs 5.25 billion. In terms of net profit, Asian Life earned the lowest net profit of Rs 58.2 million.
