Nepal Insurance Earns 240 Mn in Net Insurance Premium; Net Profit Increases 71%

Feb 11, 2019 Merolagani

 Nepal Insurance (NICL) has earned a net insurance premium of Rs 240.1 million in the second quarter of the current FY compared to Rs 185 million of the corresponding period of the last FY.

Till date, the company issued 71,096 policies and has collected Rs 569.9 million in total insurance premium. In the corresponding period of the last FY, the company earned Rs 381.9 million in total insurance premium.

Similarly, the company earned Rs 81.9 million in reinsurance premium and Rs 38.4 million in other income. The company extended loan of Rs 387.4 million during the period.

In the review period, the company earned a net profit of Rs 73.2 million which is increased by 71.20 percent compared to Rs 42.7 million of the last FY.

The company with Rs 617.6 million in paid-up capital has reserve fund of Rs 273.6 million. The company has insurance fund of Rs 231.4 million.

During the period, the company paid Rs 172.3 million to 928 policies. The company maintained EPS of Rs 11.86, net worth per share of Rs 181.77 and P/E ratio of 46.88 times.

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