Kathmandu. The National Insurance Company has released the revised financial statements for the third quarter of the current fiscal year. According to the financial statement published by the company, the company’s profit and total insurance earnings have decreased.
With a share capital of Rs 266.6 million, the company has a retained earnings of Rs 2.46 billion till the third quarter of the current fiscal year. There is Rs 3.13 billion in special reserves, Rs 689 million in disaster fund and Rs 10.29 billion in other equities.
Till the third quarter, the company has earned a total insurance premium of Rs 1.02 billion. In the same period of the previous fiscal year, the company had earned a total insurance premium of Rs 1.15 billion. Compared to the same period of the previous fiscal year, the company’s total insurance revenue decreased by 11.58 percent.
During this period, the company spent Rs 854.1 million through reinsurance. The company had spent Rs 1.05 billion in the same period last fiscal year.
The company has earned Rs 166.8 million in net insurance premium till the review period. In the same period of the previous fiscal year, the company had earned Rs 101.6 million in net insurance premium. Compared to the previous year, the company’s net insurance revenue has increased by 64 percent.
During this period, the company has earned a profit of Rs 395.6 million. The company had posted a net profit of Rs 516.3 million in the same period of the previous fiscal year. Compared to the previous fiscal year, the company’s profit has decreased in the review period.
