Everest Insurance Increases Net Profit along With Net Insurance Premium

May 14, 2021 11:00 AM Merolagani

Everest  Insurance (EIC) has increased its net profit by 11.21 percent to Rs 148.2 million in the third quarter of the current FY compared to Rs 123.3 million of the corresponding period of the last FY.

During the period, the company increased its net insurance premium by 15.08 percent to Rs 389.1 million compared to Rs 338.1 million of the last FY.

In the review period, it earned Rs 86.4 million from reinsurance commission and  Rs 41.1 million from investment, loan and others.

The company that has Rs 1.09 billion in paid-up capital has reserve fund of Rs 348.7 million and insurance fund of Rs 400.8 million.

By the review period, it issued 83,289 policies and has earned Rs 786.1 million in total insurance premium. Moreover, it paid Rs 689.7 million to 4,157 claims and has outstanding payment of Rs 1.17 billion to 5,864 claims.

The company has EPS of Rs 18.04, net worth of Rs 168.40 and P/E ratio of 35.97 times.

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