National Life Insurance Earns Net Insurance Premium of Rs 5 Bn

May 14, 2019 Merolagani

National Life Insurance (NLICL) has earned net insurance premium of Rs 4.76 billion in the third quarter of the current FY compared to Rs 3.94 billion of the corresponding period of the last FY. The net insurance premium increased by Rs 821.8 million in the review period.

The company earned Rs 23.3 million from reinsurance commission and Rs 1.48 billion from investment, loan and other income. Similarly, it invested Rs 3.27 billion in loan against insurance policies thereby earning Rs 227.7 million from it.

The company earned Rs 306 million in net profit in the review period. Such profit was Rs 222 million in the corresponding period of the last FY.  

The company with Rs 3.74 billion in paid-up capital has life insurance fund of Rs 25.22 billion, reserve fund of Rs 687.5 million and disaster fund of Rs 191.2 billion.

The company issued 708,360 insurance policies and has earned Rs 4.92 billion in total insurance premium. The company paid Rs 1.82 billion to 12,549 claims and has outstanding claim payment of Rs 258 million.

During the period, the company maintained Rs 13.56 in EPS, Rs 122.85 in net worth per share and has P/E ratio of 43.49 times.

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