Rastriya Beema Sansthan Increases Net Profit by Nearly 300%

Nov 19, 2019 02:11 PM Merolagani

Government owned Rastriya Beema Sansthan has maintained life insurance fund of Rs 24.39 billion in the first quarter of the current FY. The fund increased by Rs 8.17 billion compared to Rs 16.21 billion of the corresponding period of the last FY.

The company with Rs 181 million in paid-up capital has reserve fund of Rs 187.2 million.

During the period, the company earned Rs 4.09 billion in net insurance premium compared to Rs 485.9 million of the last FY. The net insurance premium increased by Rs 3.30 billion during the review period.

In the review period, the company increased its net profit by 295.83 percent to Rs 17.4 million compared to Rs 4.4 million of the last FY. Similarly, it earned Rs 452.7 million in investment, loan and other income, Rs 24.9 million from loan against policies and Rs 4.5 million from other direct income.

The company has 686,226 active insurance policies and has paid payment to 4,073 claims.

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