Fiscal Nepal
First Business News Portal in English from Nepal
KATHMANDU: IME Life Insurance Company has reported an improved financial performance in the first quarter of the current fiscal year, earning a net profit of Rs 15 crore 83 lakh. According to the financial statements made public, the insurer has recorded higher profitability compared to the same period of the previous fiscal year, when the company had posted a net profit of Rs 14 crore 50 lakh.
During the review period up to Ashoj, the company earned Rs 1.53 billion in net insurance premium revenue, reflecting continued growth in policy sales and premium retention. The total income of the company reached Rs 1.98 billion.
IME Life’s life insurance fund (Life Fund) has now increased to Rs 14.18 billion, indicating strengthened long-term policyholder reserves and future claim-paying capacity. The company has also disbursed Rs 13 crore 14 lakh in agent commission during the first quarter, suggesting sustained expansion of its distribution and agency network across the country.
The insurer currently has a paid-up capital of Rs 5 billion, while its reserve and surplus fund stands at Rs 86 crore 26 lakh, reinforcing its financial stability and regulatory capital compliance.
Industry observers note that the positive quarterly results come at a time when Nepal’s insurance sector is undergoing gradual market recovery, expansion of life insurance penetration, and increasing competition for market share among private life insurers.
IME Life said it will continue to focus on digital insurance services, customer claims settlement efficiency, agent capacity-building, and product diversification to maintain growth momentum in the coming quarters.
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