Reliance Life Increases Net Insurance Premium by 87%

Aug 07, 2020 12:26 PM Merolagani

Reliance Life Insurance has earned a net insurance premium of Rs 1.36 billion in the last FY. The net insurance premium increased by 87.23 percent compared to the previous FY.

In the previous FY, the company collected net insurance premium of Rs 731.1 million during the review period.

With the increase in net insurance premium, the net profit of the company has also increased. During the period, the company earned Rs 43.3 million in net profit which has increased by 48.45 percent.

The company has a paid-up capital of Rs 1.47 billion right now. The company is planning to issue 6.3 million units of initial public offering (IPO).  The company has reserve fund of Rs 143.2 million, life insurance fund of Rs 1.14 billion and a disaster fund of Rs 15.9 million. The company has already obtained approval from Securities Board of Nepal for the IPO.

During the period, the company paid Rs 73.8 million to 37 claims.

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