Net Insurance Premium of Neco  Insurance Increases 19%

May 14, 2019 Merolagani

The net insurance premium of Neco Insurance (NIL) has increased by 19 percent to Rs 857 million in the third quarter of the current FY compared to Rs 720.8 million of the corresponding period of the last FY.

The company earned Rs 109.9 million from investment, loan and other income. Such income was Rs 63.3 million in the review period of the last FY.  The income increased by Rs 46.6 million during the period.  

Similarly, the net profit of the company increased by 19.59 percent to Rs 251.5 million compared to Rs 210.3 million of the corresponding period of the last FY.  

The company with Rs 1.17 billion in paid-up capital has life insurance fund of Rs 669.1 million and reserve fund of Rs 553.2 million and disaster fund of Rs 63 million.

During the period, the company maintained Rs 28.52 in EPS, Rs 209.29 in net worth per share and has P/E ratio of 18.24 times.


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