General insurance reported massive growth in Q2; Look at the major highlights
Thu, Feb 11, 2021 7:41 AM on Latest, Company Analysis,
General Insurance Company Limited (GIC) has published its second-quarter report of the fiscal year 2077/2078 with an increase in Net Profit by massive 159.36% compared to the corresponding quarter of the previous year. The company’s net earnings increased to Rs. 3.64 crores in this quarter from Rs. 1.40 crores in the corresponding quarter.
As per the unaudited report for the 2nd quarter published today, Nepal Insurance has a paid-up capital of Rs. 1.00 Arba with a reserve of Rs. 6.62 crores. The company has Rs. 7.48 crores in life insurance fund.
The Net Premium declined by 9.88% to Rs. 11.97 crores in FY 2077/2078 from Rs. 13.28 crores in the corresponding quarter of the previous year. The company has earned Rs. 1.03 crores from income from investment, loans, and other headings.
The company’s Net claim decreased by 14.61% to Rs. 2.76 crores in this quarter. The company’s number of policies stood at 42,715 till Q2 of 2077/2078.
Its annualized earnings per share (EPS) stood at Rs. 7.28 whereas Net worth per share stood at Rs. 114.84. The company traded at a P/B multiple of 5.20 times.
Major Highlights:
|
Particulars |
General Insurance Company Limited |
||
|---|---|---|---|
|
Q2, 2077/2078 |
Q2, 2076/2077 |
Difference |
|
|
Paid-Up Capital |
1,000,000.00 |
700,000.00 |
42.86% |
|
Reserve & Surplus |
66,242.00 |
34,667.00 |
91.08% |
|
Insurance Fund |
74,822.00 |
38,519.00 |
94.25% |
|
Contingent Fund |
7,360.00 |
3,852.00 |
- |
|
Gross Premium |
350,463.00 |
291,141.00 |
20.38% |
|
Net Premium |
119,737.00 |
132,871.00 |
-9.88% |
|
Re-Insurance Income |
49,513.00 |
42,585.00 |
16.27% |
|
Income from Investment, Loan and others |
10,329.00 |
9,324.00 |
10.78% |
|
Claim Payment (Net) |
27,612.00 |
32,335.00 |
-14.61% |
|
Agent Commission |
6,421.00 |
7,661.00 |
-16.19% |
|
Net Profit |
36,419.00 |
14,042.00 |
159.36% |
|
No. Of Policies |
42,715.00 |
28,627.00 |
- |
|
Annualized EPS (Rs.) |
7.28 |
4.01 |
- |
|
Net Worth Per Share |
114.84 |
111.01 |
- |
|
Price/Book Ratio (times) |
5.20 |
- |
- |
