Nepal Insurance logs 2.67% growth in Net Profit

May 04, 2020 01:14 PM Merolagani

Nepal Insurance (NICL) has collected net insurance premium of Rs 430.1 million in the third quarter of the current FY. The net insurance premium increased by Rs 43.4 million compared to Rs 386.7 million of the corresponding period of the last FY.  

During the period, the net profit of the company also improved by small fraction. The company managed to increase its net profit by 2.64 percent to Rs 134 million compared to Rs 130.6 million of the last FY.

The company with Rs 1.09 billion in paid-up capital has reserve fund of Rs 345.8 million and insurance fund of Rs 364.7 million. The company earned Rs 122.6 million from reinsurance commission.

By the review period, the company issued 116,944 insurance policies. It has EPS of Rs 16.32, net worth per share of Rs 164.86 and P/E ratio of 21.26 times.

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