29th January 2025, Kathmandu
IME Life Insurance has made history as the first insurance company to release its unaudited financial report for the second quarter (Shrawan-Poush) of the current fiscal year. The company’s financials show strong progress, highlighting its continued growth and stability in the industry.
IME Life Insurance Q2 Earnings
Profit Increases by 14%
IME Life earned a profit of NPR 26.78 crore in the second quarter, a 14.12% rise from last year’s NPR 23.47 crore. The growth is attributed to higher income and effective management of premiums.
Life Insurance Fund Grows Significantly
The company’s life insurance fund grew by 44.08%, reaching NPR 10.87 billion compared to NPR 7.54 billion in the same period last year. This significant growth reflects the company’s increasing market share and customer trust.
Premium Collection and Retained Earnings Rise
IME Life’s total premium collection for the second quarter reached NPR 2.44 billion, up 5.74% from the previous year’s NPR 2.10 billion. Additionally, its premium income increased by 17.22%, totaling NPR 2.33 billion compared to NPR 1.99 billion last year.
Improved Reserves
The company’s catastrophic reserve stood at NPR 21.75 crore by the second quarter, an increase from NPR 19.07 crore last year. Retained earnings also grew to NPR 138.25 crore, up from NPR 116.19 crore.
Earnings Per Share and Equity
IME Life’s earnings per share (EPS) saw a slight decline, decreasing to NPR 10.71 from NPR 11.74 in the previous year. While this drop in EPS is noted, the company’s net worth per share has reached NPR 152.23, indicating strong shareholder value and solid financial health.
Despite the minor decrease in EPS, the company’s robust net worth demonstrates its continued stability and growth in the market. Additionally, IME Life maintains a strong share capital base of NPR 5 billion, further reinforcing its position as a reliable and financially secure entity within the insurance sector.
Financial Growth Continues
IME Life’s total income rose from NPR 2.65 billion last year to NPR 3.14 billion this year. The company’s solid financial performance shows its resilience and growing dominance in the insurance sector.
IME Life remains committed to growth, transparency, and providing value to its policyholders, positioning itself as a leading insurance company in Nepal.
For more: IME Life Insurance Q2 Earnings
