LIC Nepal Earns Net Insurance Premium above Rs 13 Bn

Aug 14, 2019 12:34 PM Merolagani

Life Insurance Corporation (LICN) has collected Rs 13.34 billion in net insurance premium in the fourth quarter of the last FY compared to Rs 10.40 billion of the corresponding period of the previous FY. The net premium increased by Rs 2.93 billion in the review period.

During the period, the company earned Rs 3.98 billion from investment, loan and other income, Rs 27.8 million from reinsurance commission and Rs 884.6 million from loan against insurance policies.

In the review period, the company increased its net profit by 20.04 percent to Rs 161.5 million compared to Rs 134.5 million of the previous FY.

The company with Rs 1.49 billion in paid-up capital has reserve fund of Rs 937.9 million, insurance fund of Rs 54.01 billion and disaster fund of Rs 236.2 million.

Till date, the company earned Rs 13.41 billion in insurance premium and has issued 794,451 insurance policies. The company has paid Rs 3.39 billion to 16,658 claims.

The company maintained EPS of Rs 10.81, net worth per share of rs 178.51 and P/E ratio of 147.07 times.

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