General Insurance Earns Net Profit of Rs 50.6 Mn

Aug 12, 2020 01:44 PM Merolagani

General Insurance (GIC) has increased its net profit by Rs 14.4 million to Rs 50.6 million in the fourth quarter of the last FY compared to Rs 36.2 million of the corresponding period of the previous FY.

In the review period, the company earned a net insurance premium of Rs 209.6 million compared to Rs 164.6 million of the review period of the previous FY.

Similarly, it earned Rs 75.4 million from reinsurance commission and Rs 18 million from investment, loan and other income.

The company that is issuing IPO in the near future has a paid-up capital of Rs 700 million. The paid-up capital will reach Rs 1 billion after the IPO.

The company has reserve fund of Rs 46.6 million, insurance fund of Rs 51 million and disaster fund of Rs 5.2 million.

The company has issued 57,803 insurance policies till date. By the date, the company paid Rs 195.2 million to 1,565 claims and has an outstanding claim of Rs 39 million to 356 claims.

The company has EPS of Rs 7.23 and net worth per share of Rs 114.68.

 


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