Look at major highlights from third quarter reports of five non-life insurance companies namely Prabhu Insurance, Prudential Insurance, Neco Insurance, Nepal Insurance and Himalayan General Insurance

Prabhu Insurance Company Limited (PRIN) has stated growth in its net profit by 7.21% in the third quarter of the ongoing fiscal year 2075/76.

Publishing the financial report today, the nonlife insurance company stated that it earned a net profit of Rs 14.02 crore in Q3 of the FY 2075/76, up from Rs 13.08 crore in the corresponding quarter of the FY 2074/75.

Along with its net profit, its net income from premium (net) has increased slightly from Rs 39.44 crore to Rs 39.54 crore at the end of Q3 this year.

Its current paid up capital stands at Rs 1.005 arba. It has a reserve fund of Rs 23.94 crore and the insurance fund amounts to Rs 51.30 crore.

Its earning per share stands at Rs 14, net worth per share at Rs 175 and P/E ratio at 30 times.

Prudential Insurance Company Limited (PICL) has stated growth in its net profit by 4.62% in the third quarter of the ongoing fiscal year 2075/76.

Publishing the financial report today, the non-life insurance company stated that it earned a net profit of Rs 12.72 crore in Q3 of the FY 2075/76, up from Rs 12.16 crore in the corresponding quarter of the FY 2074/75.

Its net income from premium (net) has decreased from Rs 36.22 crore to Rs 35.57 crore at the end of Q3 this year.

Its current paid up capital stands at Rs 64.15 crore. It has a reserve fund of Rs 23.29 crore and the insurance fund amounts to Rs 46.14 crore.

Its earning per share stands at Rs 26.45, net worth per share at Rs 208.24 and P/E ratio at 26.27 times.

Neco Insurance Limited (NIL) has reported rise in its net profit by 19.57 % in the third quarter of the ongoing fiscal year 2075/76.

Publishing the financial report today, it stated net profit of Rs 25.15 crore in Q3 of the FY 2075/76, up from Rs 21.03 crore in the corresponding quarter of the FY 2074/75.

While its income from net premium has also increased from Rs 72.08 crore to Rs 85.70 crore at the end of Q3 this year.

Its paid up capital stand at Rs 1.17 arba with Rs 55.32 crore in the reserve and surplus. It has Rs 66.91 crore as insurance fund till the end of the third quarter.

Its annualized earning per share stands at Rs 28.52, net worth per share at Rs 209.29 and P/E ratio at 18.24 times.

Nepal Insurance Company (NICL) has posted an outstanding rise in net profit by 91.30% in the third quarter of the FY 2075/76.

As per the unaudited report for the third quarter, the non-life insurance company reported net profit of Rs 13.06 crore in Q3 of fiscal year 2075/76, up from Rs 6.82 crore of the corresponding fiscal year.

The company’s earnings from premium (net) increased to Rs 38.67 crore in Q3 from Rs 30.71 crore in the corresponding quarter. It’s paid up capital stands at Rs 61.73 crore.

The reserve fund of the company has also increased to Rs 36.50 crore from the corresponding year’s Rs 17.94 crore. The company’s insurance fund has also increased to Rs 26 crore from Rs 16.99 crore in the corresponding quarter of the previous year.

It’s EPS stands at Rs 28.20 while its net worth per share of the company amounts to Rs 201.21. Its PE ratio stands at 13.44 times. The company is yet to adjust recently floated 65% right share of worth Rs 40 crore in its mentioned paid up capital. 

Himalayan General Insurance (HGI) published the quarterly report for the third quarter of FY 2075/76. The paid up capital of the company stands at Rs.1.02 Arba, similar to the corresponding quarter of the previous year. The reserves of the company grew by 54.60% from Rs.14.12 Crore to Rs.21.84 Crore by the end of the third quarter.

Insurance fund of the company stands at Rs.46.91 Crore, up from Rs.38.09 Crore posted in the corresponding quarter of the previous year. The earnings from premium fell from Rs.23.61 Crore to Rs.22.11 Crore. The number of total inforce policies stands at 35,686 policies which was previously 29,775 policies.

The company posted a growth of 25% in the net profits. The net profit of the company was previously at Rs.9.99 Crore which grew to Rs.12.49 Crore by the end of the third quarter. The EPS of the company stands at Rs.12.16 and the net worth per share stands at Rs.166.93. The PE Ratio stands at 31.66 times.