Nepal Life Insurance reports fair growth in profitability indicators; Claims rises by 131.74% in Q1
Fri, Nov 13, 2020 7:10 AM on Latest, Company Analysis,
Nepal Life Insurance Company Limited (NLIC) has published its first-quarter report of the fiscal year 2077/2078 with an increase in Net Profit by 12.02% compared to the corresponding quarter of the previous year. The company’s net earnings increased to Rs. 22.09 crores in this quarter from Rs. 20.44 crores in the corresponding quarter.
As per the unaudited report for the first quarter published today, Nepal Life has a paid-up capital of Rs. 5.49 Arba with a reserve of Rs. 3.66 Arba.
The company has Rs. 94.82 Arba in life insurance fund and Rs. 60.80 crores in the contingent fund.
The Net Premium rose by 14.16% to Rs. 8.92 Arba in FY 2077/2078 from Rs. 7.81 Arba in the corresponding quarter of the previous year. The company has earned Rs. 1.68 Arba from income from investment, loans, and other headings.
The company’s Net claim increased by 131.74% to Rs. 3.87 Arba in this quarter. The company’s number of policies stood at 1,319,702 till Q1 of 2077/2078.
Its annualized earnings per share (EPS) stood at Rs. 16.67 whereas Net worth per share stood at Rs. 177.79. The company traded at a P/B multiple of 7.73 times.
Major Highlights:
|
Particulars |
Nepal Life Insurance Company Limited |
||
|---|---|---|---|
|
Q1, 2077/2078 |
Q1, 2076/2077 |
Difference |
|
|
Paid-Up Capital |
5,496,160.81 |
5,496,160.81 |
- |
|
Reserve & Surplus |
3,667,212.95 |
2,641,209.06 |
38.85% |
|
Insurance Fund |
94,821,363.01 |
72,333,096.00 |
31.09% |
|
Contingent Fund |
608,061.18 |
474,452.09 |
28.16% |
|
Gross Premium |
8,999,449.00 |
7,928,739.00 |
13.50% |
|
Net Premium |
8,925,152.67 |
7,818,393.14 |
14.16% |
|
Re-Insurance Commission Income |
11,410.64 |
13200 |
-13.56% |
|
Income from Investment, Loan, and others |
1,685,763.08 |
1,406,584.70 |
19.85% |
|
Claim Payment (Net) |
3,876,043.82 |
1,672,595.01 |
131.74% |
|
Agent Commission |
968,620.87 |
879,972.60 |
10.07% |
|
Gross Profit |
3,562.54 |
188,028.88 |
-98.11% |
|
Net Profit |
229,002.59 |
204,432.29 |
12.02% |
|
No. of Policies |
1,319,702 |
1,239,248 |
6.49% |
|
Annualized EPS (In Rs.) |
16.67 |
14.88 |
12.02% |
|
Net Worth per share (In Rs.) |
177.79 |
156.69 |
13.47% |
|
Price/Book |
7.73 |
- |
- |
.png)
