KATHMANDU, Feb 15: Net profits of life insurance companies declined by 4.43 percent as of the first half of the current fiscal year (FY).
As per the financial reports unveiled by the life insurers, they earned net profit of Rs 3.11 billion as of mid-January this FY. The figure was recorded at Rs 3.25 billion in the same period last FY.
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Despite the positive growth in profit earning of nine life insurers, the heavy decline in those of three life insurers took down the overall average of the sector’s profits. As Himalayan Life Insurance had its net profit declined 45.06 percent to Rs 206.73 million, Nepal Life Insurance and Prabhu Mahalaxmi Life Insurance witnessed drop in their profits by 28.03 percent and 27.07 percent, respectively.
