Asian Life Insurance Increases Net Profit

Aug 12, 2020 12:32 PM Merolagani

Asian Life Insurance (ALICL) has increased its net profit by Rs 71.9 million to Rs 181.8 million in the fourth quarter of the last FY compared to the corresponding period of the previous FY.

In the review period, the company earned a net insurance premium of Rs 4.54 billion. Such earning increased by Rs 324.4 million compared to the review period of the previous FY.

Similarly, it earned Rs 114 million in interest by issuing loans against policies of Rs 2.45 billion. Moreover, the company earned Rs 1.56 billion from investment, loan and other income. The company paid Rs 520.5 million during the period.

The company with Rs 2.01 billion in paid-up capital has reserve fund of Rs 547 million, life insurance fund of Rs 21.61 billion and disaster fund of Rs 61.2 million.

In the last FY, the company earned Rs 4.59 billion in total insurance premium meanwhile it earned Rs 27.90 billion by the last FY.

The company has issued 290,723 insurance policies till date. By the date, the company paid Rs 1.47 billion to 7,157 claims and has an outstanding claim of Rs 21.7 million to 86 claims.

The company has EPS of Rs 9.04, net worth per share of Rs 130.25 and P/E ratio of 67.11 times.

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