Sagarmatha Insurance Increases Net Profit by 10.92%

Nov 19, 2020 12:28 PM Merolagani

Sagarmatha Insurance (SIC) has increased its net profit by 10.92 percent to Rs 55.6 million in the first quarter of the current FY compared to Rs 50.1million of the corresponding period of the last FY.

During the period, the company increased its net insurance premium by 10.22 percent to Rs 358.1 million compared to Rs 324.9 million of the last FY.

Similarly, it earned Rs 71.6 million in reinsurance commission and Rs 19.3 million in investments, loans and others.

The company with Rs 1.12 billion in paid-up capital has reserve fund of Rs 552 million, insurance fund of Rs 659.2 million and disaster fund of Rs 134.7 million.

In the review period, it logged EPS of Rs 22.23, net worth per share of Rs 234.44 and P/E ratio of 40.35 times.

During the period, the company issued 50,824 insurance policies and has earned Rs 736.1 million in total insurance premium. By the period, the company paid Rs 214 million to 1,318 claims and has outstanding payment of Rs 920.5 million to 4,133 claims.

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