Nepal Life Earns Rs 7.8 Bn in Net Insurance Premium

Nov 13, 2019 11:23 AM Merolagani

Nepal Life Insurance (NLIC) has earned a net insurance premium of Rs 7.81 billion in the first quarter of the current FY compared to Rs 5.43 billion of the corresponding period of the last FY. The net insurance premium increased by Rs 2.38 billion in the review period.

Similarly, the company earned a net profit of Rs 204.4  million in the review period. The company has Rs 5.49 billion in paid-up capital the highest among the life insurance companies.

The company earned Rs 13.2 million through reinsurance commission and Rs 1.40 billion from investment, loan and other income. Similarly, it earned Rs 386.4 million from Rs 14.66 billion loan against insurance policies.

The company maintained Rs 72.33 billion in life insurance fund, Rs 2.64 billion in reserve fund and Rs 474.4 million in disaster fund.

By the period, the company issued 1,239,248 insurance policies and has earned Rs 99.62 billion in total insurance premium. The company paid Rs 1.81 billion to 11,165 claims and has outstanding payment of Rs 1.30 billion.

It logged EPS of Rs 14.88, net worth per share of Rs 156.68 and P/E ratio of 52.16 times during the period.

 

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