Nepal Life Insurance’s net premium increased, profit positive

The Nepal Life Insurance Company Limited (NLIC) has released unaudited financial accounts for the fourth quarter of the previous fiscal year. According to the details, the net insurance premium has climbed while the net profit has turned positive.

By the end of the previous fiscal year, insurance had earned a net insurance fee of 36 billion 628 million rupees. This is 4.69 percent greater than the previous fiscal year’s similar period. In the same period the previous fiscal year, the net insurance premium was 34 billion 98 million 82 million rupees.

During the review period, the net profit of insurance has also increased. The net profit of insurance, which was negative at the end of the previous fiscal year at Rs 35 crore 27 lakh, had increased to Rs 67 crore 44 lakh by the same period last year.

In addition to profit, insurance earnings per share have been favorable. By the end of June, the net worth per share was 118 rupees 84 paisa, while the income per share was 8 rupees 22 paisa. Similarly, the price-to-earnings ratio for insurance is 90.55 times.

The reserve fund of this insurer has accumulated 64 crore 97 lakh rupees with a paid-up capital of 8 billion 20 crore 79 lakh rupees. Similarly, 1 trillion 63 billion 82 million rupees have been accumulated in the insurance fund’s life insurance fund and 896 million 66 million rupees in the disaster fund.