National Insurance reports net loss of Rs 7.54 crore in Q2

National Insurance Company Limited has reported net loss of Rs 7.54 crore for the second quarter of the fiscal year 2072/73.

As per the unaudited report for the second quarter published today, the insurance company reported a net loss of Rs.7.54 crore in the Q2 of current fiscal year from the loss of Rs 1.08 crore in the corresponding period last year.

The company’s net earnings from premiums rose to Rs. 34.36 crore in the current quarter from Rs.29.87 crore in the same quarter last year.

The reserve fund of the company decreased to Rs.7.32 crore in Q2 from Rs.32.89 crore as in the corresponding quarter previous fiscal year. Meanwhile, its insurance fund increased to Rs. 28.86 crore from Rs.27.54 crore.

The company’s number of policy holders has declined to 13.26 thousand this quarter compared to 14.65 thousand as in the same period last year.