NLG Insurance Increases Net Profit by 35%

May 12, 2021 01:17 PM Merolagani

NLG Insurance (NLG) has earned a net profit of Rs 212.8 billion in the third quarter of the current FY. The net profit increased by 35.22 percent compared to Rs 157.3 million of the corresponding period of the last FY.

During the period, the company increased its net insurance premium by 36.26 percent to Rs 853.6 million compared to Rs 626.5 million of the last FY.

In the review period, it earned Rs 225.4 million from reinsurance commission and  Rs 72.8 million from investment, loan and other.

The company that has Rs 1.09 billion in paid-up capital has reserve fund of Rs 422.8 million, catastrophe fund of Rs 41.2 million and insurance fund of Rs 1.27 million.

By the review period, it issued 168,228 policies and has earned Rs 1.69 billion in total insurance premium. Moreover, it paid Rs 1.07 billion to 6,194 claims and has outstanding payment of Rs 989 million to 6,130 claims.

The company has EPS of Rs 25.88, net worth of Rs 233.78 and P/E ratio of 44.94 times.

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