LIC Nepal Earns Net Premium of Rs 9 Bn

May 05, 2019 Merolagani

Life Insurance Corporation Nepal (LICN) has earned a net premium of Rs 8.79 billion in the third quarter of the current FY. The net premium earning increased by Rs 1.83 billion compared to Rs 6.95 billion of the corresponding period of the last FY.

During the period, the company earned Rs 2.90 billion in income from investment, loan and others, Rs 9.3 million in reinsurance commission and Rs 609.9 million in income from loan on policies. The company provided Rs 8.89 billion loan on policies during the period.

In the mean time, the company increased its net profit by 7.37 percent to Rs 107.1 million compared to Rs 99.8 million of the review period of the last FY.

The company has paid-up capital of Rs 1.49 billion. It maintained reserve fund of Rs 583.5 million, life insurance fund of Rs 51.48 billion and disaster fund of Rs 143.9 million.

Till date, the company that issues 710,872 policies has earned insurance premium of Rs 8.83 billion.

During the period, the company paid Rs 2.24 billion to 11,417 claims and has outstanding claim payment of Rs 36.6 million.

The company has EPS of Rs 7.17, net worth per share of Rs 147 and P/E ratio of 237.12 times.

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