National Life Increases Net Profit by 46%

Nov 13, 2020 12:08 PM Merolagani

National Life Insurance (NLICL) has earned a net insurance premium of Rs 2.80 billion in the first quarter of the current FY. The net insurance premium increased by 46.6 percent compared to Rs 1.91 billion of the corresponding period of the last FY.

In the review period, the company earned Rs 13.7 million from reinsurance premium and Rs 698.8 million in investment, loan and other income and R 120.6 million from loan against insurance policies.

Similarly, the net profit of the company has also increased by Rs 297.5 million to Rs 118.3 million compared to Rs 115.3 million of the review period of the last FY.

The company with Rs 3.08 billion in paid-up capital has reserve fund of Rs 1.14 billion, life insurance fund of Rs 35.94 billion and disaster fund of Rs 290.7 million.

The company has EPS of Rs 15.36, net worth per share of Rs 145.86 and P/E ratio of 48.76 times.

The company has issued a total of 882,726 policies and has earned Rs 2.84 billion in premium.

Till date, it paid Rs 867.5 million to 5,138 policies and has outstanding payment of Rs 387.2 million.

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