Kathmandu. Citizen Life Insurance has published its financial statements for the fourth quarter of the fiscal year 2081/82 BS. The company, which has a share capital of Rs 5 billion, has earned a profit of Rs 425 million in the fourth quarter of the last fiscal year. In the same period of the previous fiscal year, the company had earned a profit of Rs 430 million. The company’s profit decreased by 1.16 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 449.6 million in share premium. During this period, the company’s disaster fund stood at Rs 217.9 million. During this period, the company’s retained earnings stood at Rs 1.03 billion.
Similarly, the company’s life insurance fund stood at Rs 14.28 billion as of Mid-June of the fiscal year 2080/81 BS. The size of the company’s life insurance fund has increased by 39.02 percent to Rs 19.85 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 7.54 billion. In the same period of the previous fiscal year, the company had earned a total insurance premium of Rs 6.21 billion. The company’s total insurance premium has increased by 21.44 percent compared to the same period of the previous fiscal year.
The company has spent Rs 416 million through reinsurance. In the same period of the previous fiscal year, the company had spent Rs 373.5 million through reinsurance.
The company has earned Rs 7.13 billion in net insurance premium during the period. In the same period of the previous fiscal year, the company had earned Rs 5.84 billion in net insurance premium. The company’s net insurance premium has increased by 22.09 percent compared to the previous year.
During the review period, the company spent Rs 725.4 million through agent commission. In the same period of the previous fiscal year, the company had spent Rs 645.5 million.
The company has provided a loan of Rs 1 billion by pledging the insurance policy. In the fourth quarter of the previous fiscal year, the company had disbursed rs 754.9 million. During the review period, the company’s loan by pledging the policy increased by 33.68 percent.
During this period, the company’s earnings per share stood at Rs 8.50 and net worth per share was Rs 148.71.
