Life Insurance Corporation Doubles Net Profit

May 14, 2018 Merolagani

Life Insurance Corporation Nepal (LICN) has doubled its net profit in the third quarter of the current FY compared to the corresponding period of the last FY. In the review period of the current FY, the company earned a net profit of Rs 99.8 million from Rs 49.8 million of the last FY.

The company with a paid-up capital of Rs 1.33 billion has a reserve fund of Rs 361.3 million and life insurance fund of Rs 40.58 billion.

In the review period, the company issued 707,000 insurance policies earning Rs 6.95 billion in insurance premium. In the review period of the last FY, it earned Rs 5.78 billion from 671,000 policies.

Similarly, the company paid Rs 1.60 billion in net claim which was Rs 1.18 billion in the last FY.

During the period, the company earned total insurance premium of Rs 6.99 billion and paid claims of Rs 1.66 billion.

The company has EPS of Rs 9.97, P/E ratio of 213 times and net worth per share of Rs 134.58.

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