Kathmandu. Star Micro Insurance Company for the financial year 2082. The company has released the unrevised financial statements for the third quarter (July-March) of 83 B.S.
According to the financial report, the company has earned a profit of Rs 10.77 lakh in the first nine months of the current FY. Previous fiscal year 2081. The company had posted a net profit of Rs 10,16,000 till March 2018. The company’s net profit increased by 6 percent in the review year compared to the previous fiscal year.
During the review period, the company had a special reserve of Rs 21,84,000, a catastrophe fund of Rs 2,18,000, retained earnings of Rs 13,20,000 and other equity of Rs 72.40 lakh. As of mid-July last year, there was Rs 21.84 lakh in special reserve, Rs 2,18,000 in catastrophe fund, Rs 2,42,000 in retained earnings and Rs 72.40 lakh in other equities.
As of mid-April of the current fiscal year, the company’s insurance fund stood at Rs 28.25 crore. In the same period of the previous year, the insurance fund was Rs 17.93 crore. The size of the company’s insurance fund has increased by 57.55 percent in the review period compared to the previous year.
The company has earned a net profit of Rs 19.95 crore in the review period. The company had earned Rs 10.17 crore in total insurance premiums in the same period. The company’s total premium has increased by 76.47 percent compared to the previous year.
The company has earned Rs 6.16 crore in net insurance premium till mid-April of the current fiscal year. The company had earned a net premium of Rs 3.57 crore in the same period of the previous FY. Compared to the previous year, the company’s net premium has increased by 72.70 percent.
The company’s annual earnings per share (EPS) has increased to Rs 0.21 from Rs 525.5 million. The EPS was Rs. 0.19 a year ago.
The solvency ratio of the company stood at 1.91 during the review period. The solvency ratio was 1.94 in the same period of the previous year.
