Neco  Insurance Increases Net Profit by 65%

Nov 19, 2020 12:34 PM Merolagani

Neco Insurance (NIL) has increased its net profit by 65.21 percent to Rs 124.4 million in the first quarter of the current FY compared to Rs 75.3 million of the corresponding period of the last FY.

During the period, the company increased its net insurance premium by 30.63 percent to Rs 432.8 million compared to Rs 331.3 million of the last FY.

Similarly, it earned Rs 55.5 million in reinsurance commission and Rs 22.9 million in investments, loans and others.

The company with Rs 1.31 billion in paid-up capital has reserve fund of Rs 580.4 million, insurance fund of Rs 893.9 million and disaster fund of Rs 85.5 million.

In the review period, it logged EPS of Rs 37.79, net worth per share of Rs 218.40 and P/E ratio of 20.93 times.

During the period, the company issued 78,042 insurance policies and has earned Rs 861.7 million in total insurance premium. By the period, the company paid Rs 203.9 million to 1,566 claims and has outstanding payment of Rs 666.6 million to 2,469 claims.

comments powered by Disqus

'Araniko highway expansion to continue'

Apr 22, 2024 11:35 AM

The expansion of Sanga-Dhulikhel road along the Araniko Highway is to continually move ahead.

Gold and Silver Price Decline

Apr 22, 2024 10:58 AM