Kathmandu: Jyoti Life, Sanima Life, Reliance Life, Union Life and Prabhu Life have issued IPOs and already listed in the secondary market. Five more life insurance companies are in preparation to issue IPOs in the near future.
Citizen Life, Reliable Nepal Life, IME Life, Sun Nepal Life and Mahalakshmi Life are issuing IPOs soon. Here we have made comparison among these five companies based on their first quarter statement.
Based on paid up capital:
Citizen Life Insurance has the highest paid up capital of Rs. 1.75 billion while the other four life insurance companies have a paid up capital of Rs. 1.40 billion. The minimum paid-up capital of a life insurance company should be Rs. 2 billion.
Reliable Nepal Life has the highest reserve fund at Rs. 910.6 million and while Mahalakshmi Life has the lowest reserve fund at Rs. 208.9 million.
Life Insurance Fund:
Citizen Life has the largest life insurance fund of Rs. 4.24 billion and Mahalakshmi Life has the lowest at Rs. 1.53 billion.
Size of Business:
Citizen Life has earned Rs. 1.21 billion net premium in the Q1 while Mahalakshmi Life has earned only. Rs 320 million net premium.
Reliable Nepal Life has made a net profit of Rs.74.50 million within three months. Mahalaxmi Life Insurance has made a profit of Rs.25.40 million.