Asian Life Insurance Earns Net Insurance Premium of Rs 2.65 Bn

May 13, 2019 Merolagani

Asian Life Insurance (ALICL) has earned net insurance premium of Rs 2.65 billion in the third quarter of the current FY compared to Rs 1.91 billion of the corresponding period of the last FY. The net insurance premium increased by Rs 733.7 million in the review period.

The company earned Rs 929.4 million from investment, loan and other income. Similarly, it invested Rs 1.20 billion in loan against insurance policies thereby earning Rs 35.3 million from it.

The company earned Rs 54.4 million in net profit in the review period. Such profit was Rs 23.2 million in the corresponding period of the last FY.  

The company with Rs 1.25 billion in paid-up capital has life insurance fund of Rs 15.78 billion, reserve fund of Rs 283.4 million and disaster fund of Rs 4.26 million.

The company issued 260,773 insurance policies and has earned Rs 19.33 billion in total insurance premium. The company paid Rs 990.3 million to 3,418 claims and has outstanding claim payment of Rs 20.4 million to 80 claims.

The company is issuing 60 percent right shares. After the right issue, the paid-up capital of the company will reach Rs 2.01 billion.

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