Jyoti Life Insurance Increases Premium Earning by 134.69%

Jan 26, 2020 10:47 AM Merolagani

Jyoti Life Insurance has increased its net insurance premium by 134.69 percent to Rs 725.4 million in the second quarter of the current FY compared to the corresponding period of the last FY.

Although the company increased its net insurance premium significantly, its net profit grew by small margin only. In the review period, the company raised its net profit by Rs 4.4 million to Rs 68.9 million.

 The company with Rs 1.54 billion in paid-up capital has reserve fund of Rs 334.6 million, life insurance fund of Rs 1.20 billion and disaster fund of Rs 37.2 million.

During the period, the company invested Rs 2.46 billion in long term investment and Rs 265.2 million in short term investment and loans. The company earned Rs 57.3 million in from loan and investment and other.

Similarly, the company issued loans of Rs 76.2 million against insurance policies through which it earned Rs 1.7 million.

By the second quarter of the current FY, the company issued 36,663 insurance policies and paid Rs 4.6 million to 19 claims.

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