Kathmandu. Prabhu Mahalakshmi Life Insurance has published the financial statements for the fourth quarter of the fiscal year 2081/82 BS. The company with a share capital of Rs 5.10 billion has earned a profit of Rs 370 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 366.1 million. The company’s profit has increased by 1.25 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 19.3 million in share premium. During this period, the company’s disaster fund stood at Rs 110 million. During this period, the company’s retained earnings stood at Rs 514.1 million.
Similarly, the company’s life insurance fund stood at Rs 10.11 billion as of Mid-June of the fiscal year 2080/81 BS. The size of the company’s life insurance fund increased by 36.75 percent to Rs 13.83 billion by mid-June of the last fiscal year 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 5.37 billion. In the same period of the previous fiscal year, the company had earned a total insurance premium of Rs 4.37 billion. The company’s total insurance premium has increased by 22.89 percent compared to the same period of the previous fiscal year.
The company has spent Rs 193.6 million through reinsurance. In the same period of the previous fiscal year, the company had spent Rs 134.3 million through reinsurance.
The company has earned Rs 5.17 billion in net insurance premium during the period. In the same period of the previous fiscal year, the company had earned Rs 4.23 billion in net insurance premium. Compared to the previous year, the company’s net insurance revenue increased by 22.22 percent.
During the review period, the company spent Rs 530.6 million through agent commission. In the same period of the previous fiscal year, the company had spent Rs 489.5 million.
The company has disbursed a loan of Rs 1.21 billion by pledging insurance policies. In the fourth quarter of the previous fiscal year, the company had disbursed Rs 1.01 billion in loans. During the review period, the company’s loan by pledging the policy increased by 19.61 percent.
During this period, the company’s earnings per share stood at Rs 7.26 and net worth per share was Rs 115.92.
