September 24, 2020 | Investopaper
Profit is the major indicator for any business operation. Higher profitability is associated with the success of the business venture. Net Profit is the income available for the distribution to the shareholders after deducting all the operating expenses along with taxes. Hence, it is essential that the company generates decent profit in order to provide adequate return on investment to the shareholders.
At current, there are 20 non-life (general) insurance companies operating in Nepal. The profit of non-life insurance companies has increased in the fiscal year 2076/77 as compared to the previous fiscal year. Among the 20 non-life (general) insurance companies, Rastriya Beema Company has earned the highest net profit of Rs 63.86 crores. Shikhar Insurance occupies the second spot and has posted a net profit of Rs 45.02 crores. Similarly, Neco Insurance has generated a net profit of Rs 44.85 crores.
The table below presents the list of general (non-life) insurance companies operating in Nepal along with their net profit in fiscal year 2076/77.
Note: The profit numbers are based on the unaudited fourth quarterly report of the fiscal year 2076/77.
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Net Profit Of Non-Life Insurance Companies In Nepal
|S.N||Non-Life Insurance Companies In Nepal||Net Profit (Rs In Crores)|
|1||Rastriya Beema Company||63.86|
|2||Shikhar Insurance Company Limited||45.02|
|3||Neco Insurance Company Limited||44.85|
|4||Oriental Insurance Company Limited||37.26 *|
|5||Sagarmatha Insurance Company Limited||35.82|
|6||Premier Insurance Company Limited||35.39|
|7||Siddhartha Insurance Company Limited||30.02|
|8||Prabhu Insurance Company Limited||25.4|
|9||Nepal Insurance Company Limited||23.65|
|10||IME General Insurance Company Limited||21.03|
|11||Lumbini General Insurance Company Limited||20.41|
|12||National Insurance Company Limited||20.35|
|13||NLG Insurance Company Limited||20.1|
|14||Everest Insurance Company Limited||19.31|
|15||Himalayan General Insurance Company Limited||17.31|
|16||Prudential Insurance Company Limited||14.16|
|17||Ajod Insurance Company Limited||6.21|
|18||Sanima General Insurance Company Limited||5.56|
|19||General Insurance Company Limited||5.06|
|20||United Insurance Company Limited||3.41|
Source: Unaudited Fourth Quarterly Report, FY 2076/77
* Since the profit of Oriental Insurance is of the third quarter of fiscal year 2076/77. Hence, it may not be comparable with other insurance companies.
National Insurance and Oriental Insurance are the branches of foreign insurance companies.
The above figures are based on the un-audited quarterly report published by the respective company. Investors are advised to take other things into consideration along with this report while making investment decisions. The numbers may vary after the final audit.