Net profit of Life Insurance Corporation increased by 78%

Kathmandu December 10- Private sector's life insurance company, Life Insurance Company (Nepal) has earned Rs. 16.5 million in the first quarter of current fiscal year that is 78.67% increment than the corresponding period of last fiscal year of Rs. 9.2 million.

With the paid up capital of Rs. 855.5 million, company has kept 181.3 million reserves in the balance. Income of the company has increased by 50.89% to Rs. 28 million and expenses has increased by 23.34% to Rs. 11.5 million. Company has earned Rs. 1 billion 347.6 million insurance premium which was Rs. 1 billion 113.6 million last year.

During the period, company has paid claim equivalent to Rs. 122.9 million which was Rs. 101.6 million last year. Company has issued 539 thousands 979 insurance policies and paid insurance claims of 1 thousand 838.