Kathmandu. In the second quarter of the current fiscal year, out of 14 life insurance companies, the profit of five insurance companies has decreased. As a result, the net profit of the overall insurance companies declined by an average of 4.72 percent.

In the second quarter of the current fiscal year, the company has earned a profit of Rs 3.32 billion, which was Rs 3.48 billion.

However, the profit of Nepal Life Insurance, Himalayan Life Insurance, MetLife Insurance, Prabhu Mahalaxmi Life Insurance and Rastriya Life Insurance companies has decreased. The profit of these companies decreased by 28.03 percent, 45.05 percent, 8.55 percent, 27.07 percent and 52.02 percent respectively.

Life Insurance Corporation (LIC) is the first company to increase its profit in the first quarter of the last fiscal year. The profit of the company increased by 58.63 percent.

Similarly, Sanima Reliance Life Insurance Company is the second life insurance company that has been successful in increasing its profit. The profit of the company increased by 19.20 percent compared to the previous year.

Similarly, Reliable Life Insurance Company is the second insurance company with the best growth in profit. The company’s net profit increased by 12.98 percent compared to the corresponding period of the previous FY.

Likewise, National Life Insurance Company Ltd (2.75 percent), Sun Nepal Life Insurance (1.11 percent), IME Life Insurance (1.04 percent) and Asian Life Insurance (5.29 percent) posted a profit fall in the review period.

Citizen Life Insurance Ltd and Surya Jyoti Life Ltd have posted a net profit of 2.92 per cent in the same period last year.