Nepal Life Scores High; where do other life insurance companies stand?

Nov 26, 2019 11:35 AM Merolagani

Nepal Life Insurance has continued its dominance in domestic life insurance sector. The company with the highest paid-up capital of Rs 5.49 billion is way ahead in earnings, reserves and other indicators compared to remaining life insurance companies.

In terms of paid-up capital, National Life has the second-highest paid-up capital of Rs 3.08 billion followed by Prime Life, Surya Life, Asian Life and Life Insurance Corporation. These all companies have maintained a minimum paid-up capital of Rs 2 billion as per IB requirement.

Among the life insurance companies, Gurans Life has the lowest paid-up capital of Rs 938.5 million.

As per the first quarter report of the current FY, Nepal Life Insurance clinches 47.14 percent of Rs 16.58 billion total insurance premium earned by 7 listed life insurance companies. It earned Rs 7.81 billion in net insurance premium during the period.

Similarly, LIC Nepal earned Rs 4.17 billion, National Life earned Rs 1.91 billion, Asian Life earned Rs 880 million, Prime Life earned Rs 750 million and Surya Life earned Rs 570 million in insurance premium. The lowest insurance premium is earned by Gurans Life amounting to Rs 440 million.

The seven listed life insurance companies earned Rs 594.7 million in net profit in which Nepal Life earned the highest of Rs 204.4 million and LIC Nepal earned the lowest of Rs 23.6 million.

Similarly, Nepal Life also maintains the highest reserve and life insurance fund of Rs 2.64 billion and Rs 72.33 billion respectively. In the mean time, Gurans Life maintains the lowest reserve fund of Rs 308.5 million and Surya Life maintains the lowest life insurance fund of Rs 5.69 billion.

In terms of EPS, Prime Life has the highest EPS and net worth of Rs 19.96 and Rs 158 respectively.

 


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