Nepal Insurance Increases Net Profit by 17.39%

Feb 11, 2021 03:54 PM Merolagani

Nepal Insurance (NICL) has earned Rs 102.6 million in net profit in the second quarter of the current FY. the net profit increased by 17.39 percent compared to Rs 87.4 million of the corresponding period of the last FY.

In the review period, the net insurance premium of the company increased by Rs 77.1 million to Rs 399 million compared to Rs 321.9 million of the review period of the last FY.

Similarly, the company earned Rs 70.5 million from the reinsurance commission and Rs 46.4 million in loans, investments and other.

The company with Rs 1.15 billion in paid-up capital has reserve fund of Rs 390.2 million and an insurance fund of Rs 473.4 million.

In the review period, the company issued 76,558 insurance policies through which it earned Rs 643.3 million in total insurance premium. It paid Rs 215.8 million to 2,004 claims and has an outstanding payment of Rs 981.3 million to 3,778 claims.

The company logged EPS of Rs 17.85, P/E ratio of 37.87 times and net worth per share of Rs 175.08.

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