Net Profit Of General Insurance Increases 107% Despite Decrease In Net Insurance Premium

May 10, 2021 01:18 PM Merolagani

General Insurance Company (GIC) has its net profit by 107.48 percent in the third quarter of the current FY. The company that earned Rs 30.6 million in net profit in the corresponding period of the last FY earned Rs 63.6 million in the current FY.

However, its net insurance premium decreased by 16.10 percent to Rs 162.6 million in the review period compared to Rs 195 million of the last FY.

The company with Rs 1 billion in paid-up capital has reserve fund of Rs 75.6 million, insurance fund of Rs 88.4 million and catastrophe fund of Rs 6 million.

By the period, the company issued 61,313 policies and earned Rs 522.8 million in total insurance premium. Similarly, it paid Rs 199.5 million to 2,084 claims and has outstanding payment of  Rs 259.6 million to 2,361 claims.

The company logged EPS of Rs 8.49, net worth per share of Rs 117.02 and P/E ratio of 87.26 times.

 

 

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