During the period, the company earned Rs 121.7 million from investment, loans and other income and Rs 5.6 million in interest from loans against policies of Rs 201.1 million.
Along with net insurance premium, the company has increased its net profit as well. In the review period, the company earned Rs 111.1 million in net profit. The net profit increased by 9.8 million compared to Rs 100.3 million of the last FY.
The company with Rs 1.75 billion in paid-up capital is issuing IPO worth Rs 750 million in the near future. For this, the company has appointed NIBLA Ace Capital as its issue manager.
Following the IPO, the paid-up capital will reach Rs 2.50 billion. During the period, the company maintained Rs 2.39 billion in life insurance fund, Rs 728 million in reserve fund and Rs 68.4 million in disaster fund.
ICRA Nepal has assigned ICRA NP- IR BBB rating to the issue indicating moderate risk. In the review period, the company issued 37,705 policies and has earned Rs 1.40 billion in total insurance premium.
By the period, the company paid Rs 267.1 million to 285 claims and has outstanding payment of Rs 26.5 million to 64 claims.
