Life Insurance Corporation Earns Rs 10.31 Bn in Net Insurance Premium

May 18, 2020 10:43 AM Merolagani

Life Insurance Corporation Nepal (LICN) has earned a net insurance premium of Rs 10.31 billion in the third quarter of the current FY. The net insurance premium increased by 17.27 percent compared to Rs 8.79 billion of the corresponding period of the last FY.

During the period, the company earned Rs 3.43 billion from investment, loan and other income, Rs 11.3 million from reinsurance premium and Rs 909.7 million from loan against insurance policies of Rs 12.62 billion.

In the review period, the net profit of the company also increased to Rs 107.6 million compared to Rs 107.1 million.

The company with Rs 2.01 billion in paid-up capital has reserve fund of Rs 506.1 million, life insurance fund of Rs 63.67 billion and a disaster fund of Rs 236.2 million.

The company earned Rs 10.37 billion in total insurance fund from issuing 728,293 policies. During the period, the company paid Rs 2.76 billion to 11,921 claims while it has outstanding payment of Rs 234.7 million.

The company logged EPS of Rs 5.35, net worth per share of Rs 136.90 and P/E ratio of 212.39 times.

 


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