United Insurance Earns 85 Mn in Net Insurance Premium

Nov 17, 2019 11:07 AM Merolagani

United Insurance (UIC) has increased its net insurance premium by 8.68 percent to Rs 84.9 million in the first quarter of the current FY compared to Rs 78.1 million of the corresponding period of the last FY.

Similarly, the company increased its net profit by 14.66 percent to Rs 12.8 million compared to Rs 11.1 million of the last FY.

In the review period, the company earned Rs 23.3 million from reinsurance commission and Rs 525.6 million from investment, loan and other income.

The company with Rs 302.4 million in paid-up capital has reserve fund of Rs 66.9 million, insurance fund of Rs 332.5 million and disaster fund of Rs 6.9 million.

During the period, the company issued 23,532 insurance policies and earned Rs 185.3 million in total insurance premium. The insurance paid Rs 44.4 million to 483 claims and has outstanding premium of Rs 300.3 million to 1,818 claims.

The company maintained EPS of Rs 16.96, net worth per share of Rs 234.41 and P/E ratio of 15.62 times.

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