12 Life Insurance Companies See Slight Drop in Net Profit in Q4 FY 2082/83
Summary
The net profit of 12 major life insurance companies fell 2.43 percent year-on-year in the fourth quarter of FY 2082/83, slipping to Rs 5.08 billion. IME Life Insurance led profits, while Citizen Life and LIC Nepal posted strong growth and Himalayan Life recorded the sharpest decline.
Key Points
- The 12 major operating life insurance companies posted a combined net profit of Rs 5 billion 8 crore 97 lakh in Q4 FY 2082/83, down 2.43 percent from the previous year.
- IME Life Insurance earned the highest net profit at Rs 58 crore 42 lakh, followed by Reliable Nepal Life Insurance and Nepal Life Insurance.
- Citizen Life Insurance saw the fastest profit growth at 106.63 percent, while Himalayan Life Insurance posted the steepest decline at 41.90 percent.
- Average EPS among the companies slipped from 7.74 to 7.60, with IME Life still leading at Rs 11.68.
