Asian Life Insurance Increases Net Insurance Premium by 48%

May 13, 2021 02:09 PM Merolagani

Asian Life Insurance (ALICL) has increased its net insurance premium by 48.10 percent to Rs 4.59 billion in the third quarter of the current FY compared to Rs 3.09 billion of the corresponding period of the last FY.

Similarly, it increased its net profit by 39.31 percent to Rs 182.1 million in the review period compared to Rs 130.7 million of the corresponding period of the last FY.

In the review period, it earned Rs 1.42 billion from investment, loan and others and Rs 132.9 million in interest from loan against policies.

The company that has Rs 2.01 billion in paid-up capital has reserve fund of Rs 730.4 million, catastrophe fund of Rs 90.8 million and life insurance fund of Rs 25.42 billion.

By the review period, it issued 366,466 policies and has earned Rs 4.63 billion in total insurance premium. Moreover, it paid Rs 2.11 billion to 7,683 claims and has outstanding payment of Rs 44.4 million to 137 claims.

The company has EPS of Rs 12.08, net worth of Rs 140.48 and P/E ratio of 109.31 times.

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