Prabhu Life Insurance Increases Net Premium by 103%

May 14, 2020 01:22 PM Merolagani

Prabhu Life Insurance (PLIL) has increased its net insurance premium by 103.16 percent to Rs 504.8 million in the third quarter of the current FY compared to Rs 248.4 million of the corresponding period of the last FY.

Similarly, the company has earned Rs 45.7 million from investment, loan and other income.

An increase in net insurance premium has also boosted its net profit. The bank that earned Rs 38 million in net profit in the review period of the last FY earned Rs 55.5 million in the current FY.

The company with Rs 1.40 billion in paid-up capital has reserve fund of Rs 158.8 million, life insurance fund of Rs 626.1 million and reserve fund of Rs 13.7 millon.

The company issued 78,917 insurance polices and earned a total insurance premium of Rs 1.22 billion. By the period, the company paid Rs 11.1 million to 88 claims.


comments powered by Disqus

‘No Option Of Not Allowing E-Banking’

Sep 25, 2020 11:45 AM

Nepal Rastra Bank (NRB) has said that the microfinance companies are allowed to carry out e-banking services. Although the mechanism related to e-banking has been removed from unified directives, approval for e-banking has been given by the Department of Payment, said NRB.

Gold and Silver Price Increases

Sep 25, 2020 10:56 AM