Sanima General Insurance Increases Net Profit by whooping 110%

Nov 19, 2020 12:44 PM Merolagani

Sanima General Insurance (SGI) has increased its net profit by 109.99 percent to Rs 15.6 million in the first quarter of the current FY compared to Rs 7.4 million of the corresponding period of the last FY.

During the period, the company increased its net insurance premium by Rs 1.3 million to Rs 36.1 million compared to Rs 34.8 million of the last FY.

Similarly, it earned Rs 21.6 million in reinsurance commission and Rs 2.7 million in investments, loans and others.

The company with Rs 1 billion in paid-up capital has reserve fund of Rs 56.4 million, insurance fund of Rs 63.9 million and disaster fund of Rs 6.4 million.

During the period, the company issued 15,784 insurance policies and has earned Rs 122.5 million in total insurance premium. By the period, the company paid Rs 20.6 million to 254 claims and has outstanding payment of Rs 111.9 million to 793 claims.

In the review period, it logged EPS of Rs 8.95 and net worth per share of Rs 118.12

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