Sun Nepal Life Insurance Company has reported a modest but positive improvement in its financial performance during the first six months of the current fiscal year.
According to the unaudited financial statement for the period from mid-July to mid-January, the company earned a net profit of NPR 285.4 million. This marks a 1.11 percent increase compared to the same period of the previous fiscal year 2021/22, when the company recorded a net profit of NPR 282.2 million.
During the review period, the company’s net insurance premium income increased to NPR 2.26 billion, up by 3.64 percent from NPR 2.19 billion collected in the corresponding period last year.
However, total insurance premium income declined by 4.12 percent to NPR 2.36 billion by mid-January, reflecting a drop in overall premium collections despite growth in net premiums.
A notable improvement was seen in the life insurance fund, which expanded by 23.90 percent to reach NPR 11.04 billion by mid-January, compared to NPR 8.97 billion in the same period last year.
The company has a paid-up capital of NPR 5.03 billion. As of the review period, it maintained a share premium of NPR 1.30 billion, a catastrophe fund of NPR 236.1 million, retained earnings of NPR 548.5 million, and other equity amounting to NPR 292.0 million.
During the period, the annualized earnings per share (EPS) stood at NPR 11.30, while the net worth per share reached NPR 147.28, indicating a steady strengthening of the company’s financial position and long-term stability.
