General Insurance and Sanima General Insurance registers net profit of Rs 52 lakh and Rs 74 lakh respectively; See other indicators

Mon, Nov 18, 2019 12:55 PM on Financial Analysis, Latest, Stock Market,

General Insurance Company Nepal Limited (GICNL) has published the unaudited Q1 report for the FY 2076/77.

According to the report, the paid-up capital of the company stands at Rs. 70 Crore by the end of the first quarter. The company has reserves worth Rs. 2.83 Crore, which was Rs 1.18 crore at the corresponding quarter of FY 2075/76.

The insurance fund stands at Rs. 3.15 Crore. The long term investment of the company stands Rs. 1.03 crore in the current quarter. The company earned Rs. 7.05 Crore net from the collection of premiums.

Similarly, the Net profits of the company stand at Rs. 58 lakh in the first quarter up from Rs 52 lakh in Q1 of the previous year.

General Insurance has a total of 12,902 policies currently in force. The company posted an annualized EPS of Rs. 3.33 and net worth per share of Rs. 109.

First Quarter Report

Sanima Insurance Company Limited (SAICL) has registered net profit worth Rs 74.63 lakh in the first quarter report of FY 2076/77.

The insurance company has a paid-up capital of Rs 70 crore with Rs 2.68 crore in the reserves and Rs 3.20 crore in the Insurance Fund.

The non-life insurance company has collected Rs 3.48 crore as the net insurance premium with Rs 1.68 crore as the reinsurance commission. Similarly, the net claim amount stands at Rs 31.95 lakh.

The company has issued 10,849 insurance policies within the evaluation period.

First Quarter Report