Kathmandu. A total of 14 life insurance companies operating till Mid-June of the last fiscal year have earned Rs 6.02 billion. This profit is 16.01 percent lower than the same period of the previous fiscal year.

In the same period of the previous fiscal year, the profit of 14 life insurance companies was Rs 7.17 billion. The financial statement published by the life insurance companies mentions this. Out of the 14 insurance companies, profit of six life insurance companies has increased while the profit of eight life insurance companies has decreased.

Reliable Nepal Life, Asian Life, Nepal Life, Sanima Reliance, Surya Jyoti and Prabhu Mahalakshmi Life Insurance have seen a rise in profits. Citizen Life, IME Life, Sun Nepal Life, Himalayan Life, Rastriya Jeevan Bima Company, Met Life, National Life and Life Insurance Company have seen a decline in profits.

Nepal Life Insurance has earned the highest profit. The company’s net profit stood at Rs 603.26 million as of Mid-July of the last fiscal year. This profit is 17.37 percent higher than the same period of the previous fiscal year.

Similarly, IME Life Insurance is in second place. The company’s net profit stood at Rs 583.3 million. This profit is 5.54 percent less than the same period of the previous fiscal year.

Reliable Nepal Life’s net profit increased by 47.25 percent to Rs 571.95 million.

Similarly, Himalayan Life’s profit decreased by 13.71 percent to Rs 546.974 million, Sun Nepal Life’s profit decreased by 5.65 percent to Rs 5.42 billion, Met Life’s profit decreased by 40.07 percent to Rs 496.172 million, Citizens Life Insurance’s profit decreased by 1.16 percent to Rs 425.013 million, National Life’s profit decreased by 56.22 percent to Rs 412.84 million. It is Rs 93.37 lakh.

Similarly, Sanima Reliance Life’s profit increased by 7.60 percent to Rs 377.49 million, Prabhu Mahalaxmi Life’s profit increased by 1.25 percent to Rs 377.43 million, Surya Jyoti Life’s profit increased by 1.45 percent to Rs 352.86 million, Life Insurance Corporation’s profit decreased by 61.92 percent to Rs 315.893 million and National Life Insurance Company’s profit decreased by 16 percent to Rs 20.8 million.