Kathmandu. National Insurance Company for the current fiscal year 2082. The company has made public the unrevised financial statements for the third quarter (July-March) of 83 B.S.
According to the financial report, the company has incurred a loss of Rs 17.64 crore in the third quarter of the current FY. Previous fiscal year 2081. The company had posted a net loss of Rs 72.81 crore in the same period of 2018-19.
As of the third quarter of the current FY, the company has Rs 1.45 billion in special reserves, Rs 3.18 crore in catastrophe fund and Rs 586 million in other equity, while retained earnings are negative of Rs 1.32 billion. As of mid-July of the previous year, the company had a reserve of Rs 1.45 billion, Rs 31.8 million in catastrophe fund and Rs 541.6 million in other equities.
The company’s insurance fund stood at Rs 2.69 billion in the review period. The insurance fund stood at Rs 2.38 billion as of mid-July last year. The size of the company’s insurance fund increased by 13.05 percent in the review period compared to the previous year.
The company earned Rs 68.03 crore in total insurance premiums in the third quarter. The company had posted a net profit of Rs 90.06 crore in the same quarter last year. The company’s total premium has decreased by 24.45 percent compared to the corresponding period of the previous FY.
The company earned Rs 34.56 crore in net insurance premium during the review period. The company had earned Rs 37.32 crore in the same period last year. Compared to the previous year, the net insurance premium has decreased by 7.39 percent.
