Sanima Reliance Life Insurance (SRLI), a prominent player in Nepal’s insurance sector, has released its third-quarter report for the current fiscal year, showcasing an impressive financial performance. The company’s net profit surged by a staggering 92.94 percent during the review period, highlighting its strong growth trajectory and operational efficiency.
According to the report, SRLI’s net profit soared to Rs 304.8 million, a substantial increase from the Rs 157.9 million recorded in the corresponding period of the previous fiscal year. This remarkable growth can be attributed to the company’s robust performance across key revenue streams.
During the quarter, SRLI’s net insurance premium witnessed a remarkable 117.08 percent year-over-year increase, reaching Rs 4.01 billion. Additionally, the company’s investment and loan income surged by an impressive 142.72 percent, amounting to Rs 1.12 billion, reflecting SRLI’s strategic investment strategies and portfolio management.
The company’s strong financial performance has also translated into a significant expansion of its insurance fund, which grew by 24.14 percent to Rs 13.55 billion, further solidifying its position in Nepal’s life insurance market.
SRLI’s solid financial foundation is underpinned by a paid-up capital of Rs 4.18 billion and retained earnings of Rs 997.2 million. The company reported an earnings per share (EPS) of Rs 9.71 and a net worth per share of Rs 126.99, indicating its ability to generate substantial shareholder value.
The impressive results showcase SRLI’s agility in navigating the evolving insurance landscape in Nepal, capitalizing on growth opportunities, and effectively managing risks. As the demand for life insurance products continues to rise, SRLI’s robust financial performance positions it favorably to capture a larger market share and drive sustained growth.
Analysts and industry experts will closely monitor SRLI’s strategic initiatives, product offerings, and customer engagement strategies as the company aims to maintain its momentum and solidify its position as a leading life insurance provider in Nepal.
