LIC Nepal Increases Net Profit by 43%

May 13, 2021 11:42 AM Merolagani

Life Insurance Corporation Nepal (LICN@) has earned a net insurance premium of Rs 13.59 billion in the third quarter of the current FY. The net insurance premium increased by 31.80 percent compared to Rs 10.31 billion in the corresponding period of the last FY.

 

In the review period, the company earned Rs 10.8 million from the reinsurance commission,  Rs 4.11 billion from investment, loan and others and Rs 1.09 billion in interest from loan against insurance policies.

During the period, the company increased its net profit by 42.85 percent to Rs 153.7 million compared to Rs 107.6 million of the last FY.

The company has paid-up capital of Rs 2.21 billion, life insurance fund of Rs 77.54 billion, Rs 611.4 million in the reserve fund

The company has EPS of Rs 9.27, net worth of Rs 139.74 and P/E ratio of 340.62 times.

By the review period, it issued 716,362 policies and has earned Rs 13.66 billion in total insurance premium. Moreover, it paid Rs 6.16 billion to 13,631 claims and has an outstanding payment of Rs217.3 million.

 

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