Non-Life Insurance Companies See Significant Profit Decline in FY 2082/83
Summary
Net profit of Nepal’s non-life insurance companies fell 39.21 percent in FY 2082/83, dropping to Rs 2.79 billion from Rs 4.59 billion a year earlier. Oriental Insurance posted the highest profit, while National Insurance remained in loss and IGI Prudential Insurance recorded the steepest decline.
Key Points
- The combined net profit of 14 non-life insurance companies fell 39.21 percent year-on-year in FY 2082/83 to Rs 2.79 billion.
- Oriental Insurance returned to profit with Rs 490.4 million, the highest among the companies, after a loss in the previous year.
- National Insurance remained the only loss-making company, posting a deficit of Rs 131.0 million.
- IGI Prudential Insurance saw the sharpest percentage drop in profit, down 98.89 percent to Rs 4.038 million.
