Everest Insurance reports satisfactory growth in business volume and profitability in Q3; Look at the major highlights
Fri, May 14, 2021 6:41 AM on Financial Analysis, Latest,
Everest Insurance Company Limited (EIC) has published its third-quarter report of the fiscal year 2077/2078 with an increase in Net Profit by 18.61% compared to the corresponding quarter of the previous year. The company’s net earnings increased to Rs. 14.81 crores in this quarter from Rs. 12.49 crores in the corresponding quarter.
As per the unaudited report for the 3rd quarter published today, Everest Insurance has a paid-up capital of Rs. 1.09 Arba with a reserve of Rs. 34.87 crores. The company has Rs. 40.08 crores in the insurance fund.
The Net Premium increased by 15.08% to Rs. 38.91 crores in FY 2077/2078 from Rs. 33.81 crores in the corresponding quarter of the previous year. The company has earned Rs. 8.64 crores from reinsurance income.
The company’s Net claim increased by 22.08% to Rs. 15.08 crores in this quarter. The company’s number of policies stood at 83,289 till Q3 of 2077/2078.
Its annualized earnings per share (EPS) stood at Rs. 18.03 whereas Net worth per share stood at Rs. 168.40. The company traded at a P/B multiple of 4.60 times.
Major Highlights:
|
Particulars |
Everest Insurance Company Limited |
||
|---|---|---|---|
|
Q3, 2077/2078 |
Q3, 2076/2077 |
Difference |
|
|
Paid-Up Capital |
1,095,930.00 |
1,095,930.00 |
0.00% |
|
Reserve & Surplus |
348,718.00 |
207,829.00 |
67.79% |
|
Insurance Fund |
400,887.00 |
293,942.00 |
36.38% |
|
Contingent Fund |
0.00 |
0.00 |
- |
|
Gross Premium |
986,166.00 |
741,357.00 |
33.02% |
|
Net Premium |
389,156.00 |
338,167.00 |
15.08% |
|
Re-Insurance Income |
86,479.00 |
101,038.00 |
-14.41% |
|
Income from Investment, Loan and others |
41,481.00 |
41,554.00 |
-0.18% |
|
Claim Payment (Net) |
150,829.00 |
123,554.00 |
22.08% |
|
Agent Commission |
13,989.00 |
13,885.00 |
0.75% |
|
Net Profit |
148,196.00 |
124,940.00 |
18.61% |
|
No. Of Policies |
83,289.00 |
69,116.00 |
- |
|
Annualized EPS (Rs.) |
18.03 |
15.20 |
- |
|
Net Worth Per Share |
168.40 |
145.78 |
- |
|
Price/Book Ratio (times) |
4.60 |
- |
- |
