Asian Life Insurance Increases Net Insurance Premium by 30.22%

Nov 17, 2019 10:46 AM Merolagani

Asian Life Insurance (SICL) has increased its net insurance premium by 30.22 percent to Rs 888.6 million in the first quarter of the current FY compared to Rs 682.4 million of the corresponding period of the last FY.

In the review period, the company earned Rs 24.4 million from loan against insurance policies of Rs 1.72 billion and Rs 349.8 million from investment, loan and other income.

Similarly, the company increased its net profit by 137.87 percent to Rs 40.2 million compared to Rs 16.9 million of the last FY.

The company with Rs 2.01 billion in paid-up capital has reserve fund of Rs 405.4 million, life insurance fund of Rs 17.94 billion and disaster fund of Rs 43 million.

During the period, the company issued 277,750 insurance policies and earned Rs 21.10 billion in total insurance premium. The insurance paid Rs 1.25 billion to 5,056 claims and has outstanding premium of Rs 25.3 million to 82 claims.

The company maintained EPS of Rs 8, net worth per share of Rs 122.31 and P/E ratio of 39.73 times.


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