Nepal Reinsurance Company Earns Rs 910 million in net profit

Aug 04, 2020 12:43 PM Merolagani

Nepal Reinsurance Company (NRIC) has earned a net profit of Rs 911.6 million in the third quarter of the last FY. The company earned Rs 825 million from non-life insurance and Rs 91 million from life insurance during the period.

The income increased by 2.78 percent compared to the corresponding period of the previous FY. Similarly, the company earned net insurance premium of Rs 4.94 billion including non-life insurance of Rs 4.62 and life insurance premium of Rs 312.2 million.

Likewise, the company earned Rs 57.9 million from reinsurance commission fees and has paid Rs 1.47 billion in reinsurance commission to foreign companies.

The company paid Rs 1.74 billion claims to non-life insurance and Rs 102.8 million to life insurance.

During the period, the company has paid-up capital of Rs 8.40 billion which has increased to Rs 1.60 billion after IPO issuance. The company maintained Rs 3.31 billion in reserve fund and Rs 1.47 billion in insurance fund.


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Nepal confirms 1,356 new COVID-19 Cases; Death tolls 429

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