Kathmandu. Asian Life Insurance has published its financial statements for the fourth quarter of the fiscal year 2081/82 BS. The company with a share capital of Rs 3.39 billion has earned a profit of Rs 409.3 million in the fourth quarter of the last fiscal year. In the same period of the previous fiscal year, the company had posted a profit of Rs 328.5 million. The company’s profit has increased by 24.57 percent compared to the same period of the previous fiscal year.
As of the fourth quarter of the last fiscal year, the company’s disaster fund stood at Rs 279.6 million. During this period, the company’s retained earnings stood at Rs 805.6 million. Similarly, the company’s life insurance fund stood at Rs 42.58 billion as of Mid-June of the fiscal year 2080/81 BS. The size of the company’s life insurance fund has increased by 10.52 percent to Rs 47.07 billion as compared to mid-June of the previous fiscal year.
In the fourth quarter of the last fiscal year 2081/82, the company earned a total insurance premium of Rs 9.40 billion. In the same period of the previous fiscal year, the company had earned a total insurance premium of Rs 8.05 billion. The company’s total insurance premium has increased by 16.86 percent compared to the same period of the previous fiscal year.
The company has spent Rs 205.7 million through reinsurance. In the same period of the previous fiscal year, the company had spent Rs 201.5 million through reinsurance. The company has earned Rs 9.20 billion in net insurance premium during the period. In the same period of the previous fiscal year, the company had earned Rs 7.84 billion in net insurance premium. Compared to the previous year, the company’s net insurance revenue has increased by 17.24 percent.
During the review period, the company spent Rs 810.7 million through agent commission. In the same period of the previous fiscal year, the company had spent Rs 727.5 million.
The company has disbursed a loan of Rs 5.13 billion by pledging the insurance policy. In the fourth quarter of the previous fiscal year, the company had disbursed rs 4.91 billion. During the review period, the company’s loan by pledging the policy increased by 4.44 percent.
During this period, the company’s earnings per share stood at Rs 12.04 and net worth per share was Rs 135.05.
