Kathmandu. The profit of 14 non-life insurance companies has decreased.

The company has earned a net profit of Rs 4.59 billion in the same period of the current FY. The profit was 5.55 percent lower than the corresponding period of the previous FY. In the same period last year, 14 life insurance companies had earned a net profit of Rs 4.86 billion.

Out of 14 life insurance companies, the profit of four companies decreased while the profit of the remaining 10 companies increased. Nepal Life Insurance, Met Life Insurance, Himalayan Life Insurance and Rastriya Life Insurance Company have seen a decline in profit.

The profit of the government-owned National Life Insurance Company has fallen drastically. On average, the profit of the companies has decreased till the end of March.

According to the financial report published by insurance companies, Reliable Nepal Life Insurance has the highest profit. The company’s net profit stood at Rs 47.04 crore. The profit increased by 0.99 percent compared to the corresponding period of the previous year.

The company had posted a net profit of Rs 46.57 crore in the same quarter last year. Similarly, Nepal Life Insurance Company is the second highest profitable company. The company’s net profit fell 27.4 percent to Rs 45.48 crore in the first quarter of the year. It was Rs 62.66 crore in the same period last year.

Similarly, National Life Insurance is the third bank to make the most profit. National has earned Rs 41.66 crore. The company’s net profit increased by 1.98 percent in the same period last year.

Similarly, the profit of IME Life increased by 0.43 percent to Rs 3679,16,000, Citizen Life Insurance by 0.67 percent to Rs 36.44 crore and Asian Life Insurance by 3.79 percent.

Likewise, Sun Nepal Life Insurance has a profit of 3.35 percent to Rs 34.23 crore, Surya Jyoti Life Insurance has increased by 11.7 percent to Rs 333.32 crore, Sanima Life Insurance has increased by 35.8 percent to Rs 33.04 crore.

Similarly, Prabhu Mahalaxmi Life Insurance has a 1.61 percent decline in its net profit to Rs 27.50 crore and Himalayan Life Insurance has a 44.7 percent decline in its profit to Rs 26.14 crore.