Net Profit of National Life Declines Despite Increased Premium Earning

Aug 16, 2023 12:08 PM Merolagani



National Life Insurance  (NLICL) earned Rs 15.97 billion in net insurance premium  as per its fourth quarter report of the last FY.

The net insurance premium grew by 13.14 percent compared to Rs 14.11 billion of the corresponding period of the previous FY.

During the period, it earned reinsurance commission of Rs 47.9 million, Rs 4.37 billion from investment, loans and others and Rs 824.6 million from loans against policies of Rs 10.45 billion.

However, its net profit decreased by 50.69 percent to Rs 364.5 million in the review period compared to Rs 739.2 million of the previous FY.

The company with Rs 5.01 billion in paid-up capital has reserve fund of Rs 407.9 million, life insurance fund of Rs 60.25 billion and disaster fund of Rs 468.2 milion.

The company maintained EPS of Rs 7.27, P/E ratio of 88.72 times and net worth per share of Rs 117.48.