Citizen life insurance reports increment in profitability by small margin in Q2; Company set to issue IPO
Sun, Feb 7, 2021 9:08 AM on Latest, Company Analysis,
Citizen Life Insurance Company Limited (CLICL) has reported fair growth in Q2; with an increase by small margin of 9.81%. The company reported a net profit of Rs. 11.01 crores compared Rs. 10.03 crores of the corresponding quarter of previous year.
The paid-up capital of the company stands at Rs. 1.75 Arba and reserve and reserve and surplus stood at Rs. 72.80 crores. Its life insurance fund increased by 129.70% to Rs. 2.39 Arba and contingent fund stood at Rs. 6.84 crores.
The Gross premium increased by 73.26% to Rs. 1.40 Arba whereas the net premium stood at Rs. 1.37 Arba.
The agent commission increased by 76.28% in this quarter. The number of policies stood at 162,038.
The annualized EPS stood at Rs. 12.59 and net worth per share stood at Rs. 141.60.
Major Highlights:
|
Particulars |
Citizen Life Insurance Company Limited |
Difference |
|
|---|---|---|---|
|
Q2, 2077/2078 |
Q2, 2076/2077 |
||
|
Paid-Up Capital |
1,750,000.00 |
1,750,000.00 |
0.00% |
|
Reserve |
728,049.00 |
420,130.00 |
73.29% |
|
Life Insurance Fund |
2,398,169.00 |
1,044,035.00 |
129.70% |
|
Contingent Fund |
68,443.00 |
45,142.00 |
51.62% |
|
Gross Premium |
1,402,145.00 |
808,809.00 |
73.36% |
|
Net Premium |
1,375,139.00 |
793,688.00 |
73.26% |
|
Agent Commission |
261,910.00 |
148,576.00 |
76.28% |
|
Investment Income |
121,760.00 |
60,745.00 |
100.44% |
|
Net Profit |
110,184.00 |
100,342.00 |
9.81% |
|
Number of Policies |
162,038 |
113,453 |
42.82% |
|
Annualized EPS (Rs.) |
12.59 |
11.47 |
- |
|
Net worth per share (Rs.) |
141.60 |
124.01 |
- |
