IME Life Insurance Calls AGM to Discuss IPO Issuance and Mutual Fund Operation
Mon, May 24, 2021 10:26 AM on IPO/FPO News, Mutual Fund, AGM/Special AGM, Latest,
IME Life Insurance Company Limited has called its 3rd AGM on 31st Jestha, 2078. The meeting will be held in the company's corporate office in Lainchaur, Kathmandu, starting at 10 am that day. The AGM will be streamed online for investors.
Among other agendas, there are two particular agendas of interest to investors. First, the company has an agenda to discuss the issuance of Initial Public Offering (IPO). Second, the AGM will also discuss adding the company objective of operating a mutual fund scheme.
The life insurance company has published its second-quarter report of the fiscal year 2077/2078 with an increase in Net Profit by 20.97% compared to the corresponding quarter of the previous year. The company’s net earnings increased to Rs. 7.40 crores in this quarter from Rs. 6.12 crores in the corresponding quarter.
As per the unaudited report for the second quarter published, IME Life has a paid-up capital of Rs. 1.40 Arba with a reserve of Rs. 42.70 Arba.
The company has Rs. 2.09 Arba in life insurance fund and Rs. 4.74 crores as Contingent Fund.
The Net Premium rose by 98.51% to Rs. 1.20 Arba in FY 2077/2078 from Rs. 60.50 crores in the corresponding quarter of the previous year. The company has earned Rs. 11.04 crores from income from investment, loans, and other headings.
The company’s Net claim increased by a massive 1019.67% to Rs. 20.03 crores in this quarter. The company’s number of policies stood at 23,814 till Q2 of 2077/2078.
Its annualized earnings per share (EPS) stood at Rs. 10.58 whereas Net worth per share stood at Rs. 133.89.
