Profit of NLG Insurance Increases by 13.37%

Nov 18, 2018 Merolagani

NLG Insurance Company (NLG) has earned a net profit of Rs 51.8 million in the first quarter of the current FY compared to Rs 45.5 million of the corresponding period of the last FY. The profit increased by 13.37 percent during the review period.

In the review period, the company earned net insurance premium of Rs 218.9 million which is growth of Rs 34.7 million from Rs 184.2 million of the last FY.

During the period, the company earned Rs 61.5 million from reinsurance commission and Rs 14.1 million from loan, investment and other income.

The company has paid-up capital of Rs 640.4 million and has reserve fund of Rs 166.3 million. Moreover, the company has maintained insurance fund of Rs 737.4 million and disaster fund of Rs 42.1 million.

During the period, the company issued 41,242 insurance policies and earned Rs 432.8 million in insurance premium. Similarly, the company paid Rs 208.3 million on 1,204 insurance claims.

The company has EPS of Rs 32.37, net worth per share of Rs 247.73 and P/E ratio of 27.28 times.

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