Himalayan Everest Insurance Increases Both Net Insurance Premium and Profit

May 11, 2023 01:41 PM Merolagani

Himalayan Everest Insurance (HEI), the joint entity of Himalayan  General Insurance and Everest Insurance, has earned a net profit of Rs 230.7 million in the third quarter of the current FY.

The net profit increased by merely 6.63 percent compared to Rs 216.4 million of the corresponding period of the last FY.

In the review period, it earned net insurance premium of Rs 890.9 million, a growth of 26.02 percent, compared to Rs 706.6 million of the last FY.

Similarly, it earned Rs 52 million from investment, loans and other income and Rs 200.7 million from reinsurance premium.

After the merger, the company has Rs 2.23 billion in paid-up capital has reserve fund of Rs 875.1 million, insurance fund of Rs 1.20 billion and catastrophic fund of Rs 51.1 million.

The company maintained EPS of Rs 13.74, net worth per share of Rs 195.36 and P/E ratio of 41.96 times.

 

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