Sun Nepal Life Insurance Company Limited (SNLI) has announced impressive financial results for the third quarter of fiscal year 2080/2081, showcasing a notable surge of 11.06% in net profit. The company’s net profit rose to Rs. 49.36 crores from Rs. 44.45 crores in the corresponding quarter of the previous fiscal year.
SNLI’s financial overview reflects a robust foundation, boasting a paid-up capital of Rs. 3.2 Arba and a significant share premium of Rs. 1.26 Arba. Additionally, the company maintains substantial reserves, including Rs. 1.23 Arba in retained earnings, Rs. 36.72 Crores in other equity, and Rs. 14.25 crores in catastrophe reserves.
Despite a marginal decline of 0.98% in net premiums, reaching Rs. 2.49 Arba in Q3 FY 2080/81 compared to the preceding year, SNLI demonstrated financial acumen by generating Rs. 65.23 Crores from income derived from investments, loans, and other financial activities.
However, the quarter also witnessed a noteworthy 6.82% increase in net claims, totaling Rs. 2.05 Arba.
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