Life Insurance Corporation reports huge increment in claim payment; Profit increases by satisfactory margin
Thu, May 13, 2021 8:21 AM on Latest, Financial Analysis,
Life Insurance Corporation Nepal Limited (LICN) has reported growth in net profit by 42.85% in Q3. The company reported a net profit of Rs. 15.37 crores compared to Rs. 10.76 crores of the corresponding quarter of the previous year.
The paid-up capital of the company stands at Rs. 2.21 Arba and reserve and reserve and surplus stood at Rs. 61.14 crores. Its life insurance fund increased by 16.30% to Rs. 77.54 Arba and contingent fund stood at Rs. 26.73 crores.
The Gross premium increased by 31.69% to Rs. 13.66 Arba whereas the net premium stood at Rs. 13.59 Arba.
The agent commission increased by 29.52% in this quarter. The number of policies stood at 716,362.
The annualized EPS stood at Rs. 9.27 and net worth per share stood at Rs. 139.74. The company traded at a P/B multiple of 16.95 times.
Major Highlights:
|
Particulars |
Life Insurance Corporation Nepal Limited |
||
|---|---|---|---|
|
Q3, 2077/2078 |
Q3, 2076/2077 |
Difference |
|
|
Paid-Up Capital |
2,211,000.00 |
2,010,000.00 |
10.00% |
|
Reserve & Surplus |
611,419.25 |
506,146.97 |
20.80% |
|
Insurance Fund |
77,542,896.04 |
66,675,060.57 |
16.30% |
|
Contingent Fund |
267,313.37 |
236,283.13 |
13.13% |
|
Gross Premium |
13,668,760.84 |
10,379,448.30 |
31.69% |
|
Net Premium |
13,599,609.59 |
10,318,084.37 |
31.80% |
|
Re-Insurance Income |
10,822.95 |
11,381.88 |
-4.91% |
|
Income from Investment, Loan, and others |
4,118,151.99 |
3,430,307.89 |
20.05% |
|
Claim Payment (Net) |
6,038,823.25 |
2,744,850.84 |
120.01% |
|
Agent Commission |
1,409,033.70 |
1,087,895.33 |
29.52% |
|
Net Profit |
153,707.26 |
107,603.60 |
42.85% |
|
No. Of Policies |
716,362.00 |
738,293.00 |
122.95% |
|
Annualized EPS (Rs.) |
9.27 |
7.14 |
- |
|
Net Worth Per Share |
139.74 |
136.94 |
- |
|
Price/Book Ratio (times) |
16.95 |
- |
- |
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