Nepal Life Insurance earns Rs 15.30 crore; reserve up 53%

Nepal Life Insurance Co. Ltd. (NLIC) has earned Rs 15.30 crore until the end of second quarter of the ongoing fiscal year 2073/74. As per the unaudited financial statement of the life insurance company published today, it has posted a 19.3% increase in its net premium earnings. It has earned Rs 4.85 arba in net premium in Q2 this year, whereas the figure stood at Rs 4.07 arba last year. It has also earned Rs 59 lakh in reinsurance commission this year. As of the end of Q2 this year, its investments stand at Rs 18.27 arba, up from Rs 15.40 arba last year. NLIC has paid claims worth Rs 1.24 arba this year, while it has pending claims of Rs 37.91 crore. Its paid up capital stands at Rs 2.16 arba with a reserve of Rs 40.69 crore and insurance fund of Rs 35.17 arba. After the capitalization of shares from its recently issued FPO, its paid up capital will reach Rs 2.47 arba while the reserve will grow by Rs 4.1 arba. It has announced 26.31% bonus share for the FY 2072/73 and has said that the FPO allottees are also eligible for the bonus. After the capitalization of bonus, its paid up capital will reach Rs 3.12 arba. Its EPS stands at Rs 14.13, net worth per share at Rs 129.16 and P/E ratio at 201 times. However, this earnings will increase after the actuarial valuation of the insurance fund at the end of fiscal year.