Reliable Nepal Life Insurance Increases Net Insurance Premium by 53.26%

Feb 11, 2021 08:38 AM Merolagani

Reliable Nepal Life Insurance that is gearing up for IPO issuance has earned Rs 1.31 billion in net insurance premium in the second quarter of the current FY.

The net insurance premium increased by 53.26 percent compared to Rs 861.1 million of the corresponding period of the last FY.

Similarly, the company earned Rs 171.6 million in loans, investments and other and Rs 240,000 from loans against policies.

During the period, the company increased its net profit by 45.4 million to Rs 178.9 million.

The company that is planning to issue an IPO worth Rs 600 million has paid-up capital of Rs 1.40 billion. Following the IPO, its paid-up capital will reach Rs 2 billion.

Similarly, it has life insurance fund of Rs 1.90 billion, reserve fund of Rs 800.3 million and a disaster fund of Rs 75 million.

In the review period, the company issued 2,678,481 insurance policies through which it earned Rs 1.34 billion in total insurance premium. It paid Rs 314.5 million to 3,129 claims.

The company logged EPS of Rs 25.42 and net worth per share of Rs 162.53.

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