Everest Insurance Increases Net Insurance Premium by 4 times

Aug 16, 2019 12:29 PM Merolagani

Everest Insurance (EIC) has earned a net insurance premium of Rs 384.4 million in the fourth quarter of the last FY compared to Rs 96.4 million of the corresponding period of the previous FY. The net insurance premium increases by fourfold during the review period.

Similarly, the company increased its net profit by Rs 5.8 million to Rs 60.8 million from earlier Rs 54.9 million.

 During the period, the company earned Rs 102.7 million in reinsurance commission, Rs 39.1 million in investment, loan and other income.

The company with Rs 1.04 billion in paid-up capital has reserve fund of Rs 141.1 million and  life fund of Rs 227.2 million.

Till date, the company has issued 87,886 insurance policies and has collected total insurance premium of Rs 811.8 million. It has paid Rs 343.9 million on 3,290 insurance policies and has outstanding claim payment of Rs 911.3 million.

The company has EPS of Rs 5.83, net worth per share of Rs 135.33 and P/E ratio of 62.61 times.

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