Non-Life Insurance Companies Increase Net Profit by 23%

Jun 07, 2023 03:46 PM Merolagani

By the third quarter of the current FY, non-life insurance companies increase their net profit by 23 percent.

Thirteen listed insurance companies earned net profit of Rs 3.43 billion during the period. The net profit increased by 23 percent compared to Rs 2.79 billion of the corresponding period of the last FY.

Among them, Rastriya Beema Company logged the highest net profit of Rs 686.4 million followed by Shikhar and Neco Insurance.

Meanwhile, Ajod Insurance earned the lowest profit of Rs 104.7 million in the review period.

Moreover, out of all companies, Sanima GIC logged the highest growth in net profit. In the review period, the company logged 103.05 percent growth in its net profit. The company that earned Rs 105 million net profit in the last FY earned Rs 213.2 million in net profit.

In the meantime, Shikhar and Neco Insurance logged a decline in net profit. Shikhar Insurance logged 6.52 percent decline in net profit.

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