Nepal Insurance Increases Net Profit by 27%

May 11, 2021 11:17 AM Merolagani

Nepal Insurance (NICL) has earned a net profit of Rs 170.1 million in the third quarter of the current FY. The net profit increased by 26.88 percent compared to Rs 134 million of the corresponding period of the last FY.

During the period, the company increased its net insurance premium by 35.28 percent to Rs 581.8 million compared to Rs 430.1 million of the last FY.

In the review period, it earned Rs 115 million from reinsurance commission and rs 66.2 million from investment, loan and other.

The company that has Rs 1.15 billion in paid-up capital has reserve fund of Rs 401.7 million and insurance fund of Rs 507.1 million.

By the review period, it issued 111,766 policies and has earned Rs 968.4 million in total insurance premium. Moreover, it paid Rs 484.8 million to 4,604 claims.

The company has EPS of Rs 19.72, net worth of Rs 179.01 and P/E ratio of 42.55 times.




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