Premier Insurance Increases Net Profit by Rs 77.7 million

Aug 16, 2019 02:16 PM Merolagani

Premier Insurance (PIC) has earned a net profit of Rs 245.6 million in the fourth quarter of the last FY compared to Rs 167.8 million of the corresponding period of the previous FY. The net profit increased by Rs 77.7 million in the review period.

In the review period, the company earned insurance premium of Rs 808 million in the review period compared to Rs 818.2 million of the corresponding period of the previous FY. The net insurance premium decreases by Rs 10 million during the review period.

During the period, the company earned Rs 205 million in reinsurance commission, Rs 97.6 million in investment, loan and other income.

The company with Rs 1.07 billion in paid-up capital has reserve fund of Rs 157.3 million and insurance fund of Rs 486.4 million and disaster fund of Rs 44.4 million.

Till date, the company has issued 189,156 insurance policies and has collected total insurance premium of Rs 1.64 billion. It has paid Rs 8998.7 million on 7,012 insurance policies and has outstanding claim payment of Rs1.93 billion.

The company has EPS of Rs 22.86, net worth per share of Rs 134.05 and P/E ratio of 21.44 times.

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