Net Insurance Premium of Prime Life Insurance Nears Billion

Nov 13, 2019 12:27 PM Merolagani

Prime Life Insurance (PLIC) has earned a net insurance premium of Rs 757.5 million in the first quarter of the current FY compared to Rs 614.3 million of the corresponding period of the last FY.

Similarly, the company earned net profit of Rs 100.2 million in the review period compared to Rs 68 million of the review period of the previous FY.

During the period, the company earned Rs 202 million from investment, loan and other income and Rs 24 million from loan against insurance policies of Rs 999.5 million.

 The company with Rs 2.79  billion in paid-up capital has reserve fund of Rs 1.03 billion, life insurance fund of Rs 9.51 billion and disaster fund of Rs 126.6 million.

By the period, the company issued 1,687,536 insurance policies and has earned Rs 15.91 billion in total insurance premium. The company paid Rs 150.2 million to 654 claims and has outstanding claim payment of Rs 9.8 million to 33 claims.

 It logged EPS of Rs 19.97, net worth per share of Rs 158  and P/E ratio of 16.12 times during the period.

 

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