Net profits of life insurance companies in Nepal declined by 4.43 percent in the first half of the current fiscal year (FY) compared with the same period last year.
According to financial statements released by the firms, the sector collectively earned Rs 3.11 billion in net profit by mid-January, down from Rs 3.25 billion in the corresponding period of the previous FY.
Although nine of the life insurers recorded growth in earnings, significant drops at three major firms pulled the overall average down. Among those, Himalayan Life Insurance saw its profits fall sharply by 45.06 percent to Rs 206.73 million, while Nepal Life Insurance and Prabhu Mahalaxmi Life Insurance reported declines of 28.03 percent and 27.07 percent, respectively.
These results come amid broader growth in the insurance industry, which has continued to expand premium collections and business volume, even as profit margins fluctuate due to rising claims and market dynamics.
