LIC Earns Total Insurance Premium of Rs 4.20 Bn

Nov 15, 2019 03:31 PM Merolagani

Life  Insurance Corporation Nepal (LICN) has earned a total insurance premium of Rs 4.20 billion in the first quarter of the current FY compared to Rs 2.90 billion of the corresponding period of the last FY.

Similarly, the company earned net insurance premium of Rs 4.17 billion compared to Rs 2.89 billion of the last FY.

Similarly, the company earned net profit of Rs 22.6 million in the review period compared to Rs 48.8 million of the review period of the previous FY.

During the period, the company earned Rs 4.7 million from reinsurance, Rs 1.08 billion from investment, loan and other income and Rs 290.9 million from loan against insurance policies of Rs 10.96 billion.

The company with Rs 2.01 billion in paid-up capital has maintained reserve fund of Rs 422.2 million, disaster fund of Rs 236.2 million and life insurance fund of Rs 57.80 billion.

 By the period, the company issued 749,884 insurance policies and paid Rs 926.5 million to 3,316 claims and has outstanding claim payment of Rs 226.4 million.

The company has EPS of Rs 1.18, net worth per share of Rs 132.75 and P/E ratio of 838.67 times.

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