Net Insurance Premium of Himalayan General Insurance Decreases

May 14, 2019 Merolagani

The net insurance premium of Himalayan General Insurance (HGI) has decreased to Rs 221.1 million in the third quarter of the current FY compared to Rs 236.1 million of the corresponding period of the last FY.

However, the net profit of the company increased by 24.97 percent to Rs 124.9 million in net profit in the review period. Such profit was Rs 99.9 million in the corresponding period of the last FY.  

The company earned Rs 99.7 million from reinsurance commission and Rs 79.3 million from investment, loan and other income.

The company with Rs 1.02 billion in paid-up capital has insurance fund of Rs 469.1 million and reserve fund of Rs 218.4 million.

The company issued 35,686 insurance policies and has earned Rs 961.1 million in total insurance premium. The company paid Rs 467.3 million to 4,060 claims and has outstanding claim of Rs 1.49 billion to 1,158 claims.

During the period, the company maintained Rs 12.16 in EPS, Rs 166.93 in net worth per share and has P/E ratio of 31.66 times.

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