Net Profit of Himalayan General Insurance Declines

May 24, 2020 01:44 PM Merolagani

The net profit of Himalayan General Insurance (HGI)  has declined by 9.93 percent to Rs 112.5 million in the third quarter of the current FY compared to Rs 124.9 million of the corresponding period of the last FY.

During the period, the net insurance premium of the company also decreased by Rs 35.9 million to Rs 185.1 million compared to Rs 221.1 million of the review period of the last FY.

Similarly, the company earned Rs 74.4 million from reinsurance commission and Rs 84.8 million from investment, loan and other income.

The company with Rs 1.02 billion in paid-up capital has reserve fund of Rs 300.4 million, insurance fund of Rs 533 million and disaster fund of Rs 42.6 million.

The company has EPS of Rs 14.57 (annual), net worth per share of Rs 105.30 and P/E ratio of 30.37 times.

Till date, the company issued 42,199 insurance policies and has earned Rs 863 million. The company paid Rs 228.1 million to 3,958 policies and has outstanding payment of Rs 1.35 billion to 1,063 claims.

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