Non-Life Insurance companies’ Profit Falls 47% amid surge in claims after protests and floods
▸ Part of: Nepal's Government Spends Nearly 60% of Budget, Capital Expenditure Trails at 28%
The profitability of Nepal’s non-life insurance sector has declined by 47.23 percent in the third quarter of fiscal year 2082/83, due to a surge in insurance claims following protests and natural disasters. Combined net profit dropped to NPR 1.27 billion, with two companies, United Ajod Insurance and National Insurance Company, reporting losses. Several major insurers experienced significant profit declines, though Prabhu Insurance was the only company to register growth.
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