Kathmandu. Current fiscal year 2082. As of the third quarter (July-March) of 83 years, the cost of salary of employees of life insurance companies has increased.
This is according to the financial statements of the third quarter of the current fiscal year made public by 14 life insurers. During the review period, the companies have spent Rs 5.17 billion in salaries and allowances to their employees. Last year, 2081. In the same period of 2018, the companies spent Rs 4.64 billion on employees’ salaries and allowances. Compared to the previous year, companies spent 11.48 percent on this headline.
Compared to the previous year, the cost of going to the salary of all life insurer employees has increased during the review period. Himalayan Life Insurance Company is the highest spender and National Life Insurance Company is the lowest spender.
During the review period, Himalayan Life Insurance has spent Rs 700.1 million on salary and allowances of its employees. The company had posted a net loss of Rs 68.23 crore in the same period last year. Compared to the previous year, the company’s salary and allowance expenses increased by 2.60 percent in the review period.
Similarly, Nepal Life Insurance Company is in second place. In the review period of the previous year, Nepal Life Insurance spent Rs 674.1 million, up 17.69 percent.
The third is Surya Jyoti Life. In the third quarter of the current FY, the company has spent Rs 49.97 crore on employees’ salary. The company had spent Rs 48.11 crore in the same period last year. Such expenditure has increased by 3.87 percent compared to the previous year.
During the review period, National Life Insurance Company has spent Rs 39.79 crore on salary and allowances of its employees. The company had posted a total of Rs 37.22 crore in the same period last year. In this way, the cost of salary of the employees of the company has increased by 6.90 percent.
The cost of going to the salary of all other life insurers has increased. The National Life Insurance Company is ahead in terms of expenditure growth rate by 93.30 percent.
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