Reliable Nepal Life’s Profit Increases by 57% Despite Fall in Premium

Aug 17, 2023 02:37 PM Merolagani

Reliable Nepal Life Insurance (RNLIL) has earned net insurance premium of Rs 3.47 billion in the last FY.

The net insurance premium fell by 7.73 percent compared to Rs 3.77 billion of the corresponding period of the previous FY.

However, its net profit increased by 57.28 percent to Rs 432.2 million compared to Rs 274.8 million.

The company earned Rs 704.8 million from investment, loans and other income, Rs 9.06 million from loan against insurance policies of Rs 303.1 million.

The company has paid-up capital of Rs 2.8 billion. It is issuing 12 million units of shares worth Rs 1.20 billion after which its paid-up capital will reach Rs 4 billioin.

The company has Rs 1.47 billion in reserve fund, Rs 66.3 million in life insurance fund and Rs 150.5 million in disaster fund.

The company has EPS of Rs 15.44 and net worth per share of Rs 158.23.

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