Life Insurance Corporation increases its net profit by 20%; Earnings from premium reaches Rs 13.34 arba

Life Insurance Corporation (Nepal) Limited (LICN)’s net profit increased by 20% in the fourth quarter of the current fiscal year 2075/76. The company earnings have increased from Rs 13.45 crores in the Q4 of the FY 2074/75 to Rs 16.15 crore in Q4 of  FY 2075/76. The net profit figure is without the profit generated from actuarial valuation of assets and liabilities.

As per the unaudited report for the fourth quarter published today, LICN has a paid up capital of Rs 1.49 arba with a reserve of Rs 93.79 crore. The LICN has recently endorsed 34.46% bonus share from the profit of FY 2074/75 to increase its paid-up of Rs 2 arba to meet the regulators minimum paid-up requirement criteria for the life insurance company.

The company has massive Rs 54.01 arba in life insurance fund and Rs 23.62 crore in contingent fund.

The net earnings from premium rose by 28.24% to Rs 13.34 arba till Q4 of FY 75/76 from Rs 10.40 arba in the corresponding quarter of last fiscal year. The company has earned Rs 3.98 arba from investment, loans and others headings.

The company’s number of policyholders increased slightly from 7.34 lakh in the corresponding quarter to 7.94 lakh in Q3 of the current fiscal year.

It's annualized EPS and net worth per share stands at Rs 10.81 and at Rs 178.51. The P/E ratio of the company is at 104.07 times