Premier Insurance Increases 44%

Aug 17, 2020 03:04 PM Merolagani



Premier Insurance (PIC) has increased its net profit by 44.07 percent to Rs 353.8 million in the fourth quarter of the last FY compared to Rs 245.6 million of the corresponding period of the previous FY.

However, the net insurance premium of the company has decreased by Rs 112.3 million. In the review period, the company earned a net insurance premium of Rs 695.6 million compared to Rs 808 million of the review period of the previous FY.

Similarly, it earned Rs 205.9 million from reinsurance commission and Rs 135.9 million from investment, loan and other income.

The company with a paid-up capital of Rs 1.07 billion has reserve funds of Rs 324.7 million, an insurance fund of Rs 672.4 million and disaster fund of Rs 63 million.

The company has issued 142,457 insurance policies and has earned Rs 1.66 billion in total insurance premium. By the review period, a total of 9,965 insurance policies have been renewed with the company.

By the date, the company paid Rs 891 million to 6,263 claims and has an outstanding claim of Rs 2.31 billion to 3,873 claims.

The company logged EPS of Rs 32.93, P/E ratio of 14.48 times and net worth per share of Rs 198.68.




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