Citizen Life Insurance's Q4 report shows 30.95% rise in net profit; Rs 1.92 arba collected as net premium
Sun, Aug 9, 2020 12:29 PM on Company Analysis, Latest,
Citizen Life Insurance Company Limited (CLICL) has published its unaudited financial report of Q4, 2076/2077 showing a 30.95% increase in Net Profit.
The company has increased its net profit to Rs. 20.07 Crores in Q4 of 2076/2077 compared to Rs. 15.36 crores from the same quarter of the previous year.
The insurance company collected Rs. 1.92 Arba as net premium which is a growth of 71.11% from the same quarter of the previous year. Net claim payment increased by 197.40% and stood at Rs. 11.02 Crores.
The paid-up capital of the company is Rs. 1.75 Arba with Rs. 49.61 Crores in Reserve and surplus. The company has increased its life insurance fund by 164.45% compared to the same quarter of the previous year and stood at Rs. 1.67 Arba in Q4, 2076/2077.
CLICL has issued a total of 124,682 life insurance policies until the fourth quarter of FY 2076/2077.
Major Highlights:
|
Particulars ('000) |
Citizen life insurance company limited |
||
|---|---|---|---|
|
Q4, 2076/2077 |
Q4,2075/2076 |
Difference |
|
|
Paid-up Capital |
1,750,000 |
1,750,000 |
0 |
|
Reserves & Surplus |
496,177 |
228,611 |
117.04% |
|
Life insurance Fund |
1,678,817 |
634,843 |
164.45% |
|
Contingent Fund |
42,791 |
32,678 |
30.95% |
|
Net Premium |
1,925,746 |
1,125,464 |
71.11% |
|
Re-insurance income |
- |
2,257 |
- |
|
Income from investment, loan, and others |
174,250 |
97,286 |
79.11% |
|
Claim Payment (Net) |
110,298 |
37,087 |
197.40% |
|
Agent Commission |
361,159 |
200,398 |
80.22% |
|
Gross Profit |
115,003 |
27,740 |
314.57% |
|
Transferred to a life insurance fund |
1,043,974 |
528,623 |
97.49% |
|
Net Profit |
200,718 |
153,606 |
30.67% |
|
No. of Policies |
124,682 |
100,690 |
23.83% |
|
EPS (Rs.) |
11.46 |
8.77 |
30.67% |
|
Net worth per share (Rs.) |
226.73 |
151.20 |
49.95% |
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