Kathmandu. National Insurance Company in the last financial year 2082. The company has made public the unaudited financial statements of 83 years.
According to the financial report, the company incurred a loss of Rs 13.10 crore in the last fiscal year. Previous fiscal year 2081. The company had posted a loss of Rs 15.07 crore in FY18. The company has been able to reduce its losses in the review year compared to the previous year.
In the last fiscal year, the company had a net reserve of Rs 1.45 billion, a catastrophe fund of Rs 3.18 crore and a negative amount of Rs 59.77 billion in other equity. In the previous year, the company had a negative reserve of Rs 1.45 billion in special reserves, Rs 31.8 million in catastrophe fund and Rs 541.6 million in other equities.
In the review year, the company’s insurance fund stood at Rs 2.62 billion. In the previous fiscal year, the insurance fund was Rs 2.38 billion. The size of the company’s insurance fund increased by 9.86 percent in the review period compared to the previous year.
In the last fiscal year, the company earned Rs 1.06 billion in total premiums. In the previous fiscal year, the company earned a net profit of Rs 1,395 crore. In the review year of the previous FY, the company’s total premium income decreased by 23.92 percent.
The company earned a net insurance premium of Rs 56.99 crore in the review period. The company had posted a net profit of Rs 65.04 crore in the previous fiscal year. The net premium has decreased by 12.39 percent compared to the previous year.
