Kathmandu. Reliable Nepal Life Insurance has published the financial statements for the fourth quarter of the last fiscal year 2081/82. The company with a share capital of Rs 5.19 billion has earned a profit of Rs 570 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 387.2 million. The company’s profit has increased by 47.25 percent compared to the same period of the previous fiscal year.
Till the fourth quarter of the last fiscal year, the company had accumulated Rs 1.39 billion in share premium. During this period, the company’s disaster fund stood at Rs 222.2 million. During this period, the company’s retained earnings stood at Rs 789.9 million.
Similarly, the company’s life insurance fund stood at Rs 9.94 billion as of Mid-June of the fiscal year 2080/81 BS. The size of the company’s life insurance fund has increased by 36.45 percent to Rs 13.57 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 5.39 billion. In the same period of the previous fiscal year, the company had earned a total insurance premium of Rs 4.21 billion. Compared to the same period of the previous fiscal year, the company’s total insurance revenue has increased by 28.23 percent.
The company has spent Rs 367.4 million through reinsurance. In the same period of the previous fiscal year, the company had spent Rs 393.5 million through reinsurance. The company earned Rs 5.03 billion in net insurance premium during the period. In the same period of the previous fiscal year, the company had earned Rs 3.81 billion in net insurance premium. Compared to the previous year, the company’s net insurance revenue increased by 31.82 percent.
During the review period, the company spent Rs 536.2 million through agent commission. In the same period of the previous fiscal year, the company had spent Rs 486.9 million.
During this period, the company’s earnings per share stood at Rs 10.97 and net worth per share was Rs 147.47.
