During the period, the company increased its net profit by Rs 14.3 million to Rs 557.9 million compared to Rs 543.6 million of the review period of the last FY.
In the review period, the company earned Rs 2.79 billion from general insurance and Rs 198.6 million from life insurance. Similarly, it earned Rs 501.2 million in net profit from general insurance while Rs 56.7 million from life insurance.
The company has paid-up capital of Rs 8.40 billion and reserve fund of Rs 1.77 billion. It has maintained insurance fund of Rs 1.11 billion during the period.
Similarly, the company earned Rs 43.5 million in reinsurance commission and spent Rs 740.8 million in reinsurance commission. The reinsurance commission expense is nearly 18 times compared to that of reinsurance commission earning.
Likewise, the company paid Rs 520.7 million in net claim including Rs 459.9 million to general and Rs 61.5 million to life insurance.
The company has outstanding claim payment of Rs 299.2 million in general insurance and Rs 38.7 million to life insurance claims.
