Reliable Nepal Life Increases Both Net Profit and Net Insurance Premium

Jul 29, 2022 01:18 PM Merolagani

Reliable Nepal Life Insurance, which is preparing to issue IPO in premium, has published its fourth-quarter report of the last FY. As per the report, the company earned Rs 3.77 billion in net insurance premium.

The net insurance premium increased by 27.42 percent compared to Rs 2.95 billion of the corresponding period of the previous FY.

Similarly, its net profit increased by 21.65 percent to Rs 274.8 million in the review period compared to Rs 225.9  million of the corresponding period of the previous FY.

The company earned Rs 483.7 million through investment, loans and other income and Rs 148.1 million from loan against insurance policies.

 The company with Rs 1.40 billion in paid-up capital has reserve fund of Rs 1.09 billion, insurance fund of Rs 4.60 billion and disaster fund of Rs 107.3 million.

The company logged EPS of Rs 19.63 and net worth per share of Rs 185.59. 

The company has sought approval to issue IPO in premium. Upon approval from SEBON, the company will issue primary shares at Rs 212 including face value of Rs 100 and premium of Rs 112.

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