Nepal Re-Insurance Company earns Rs 62.33 crore in Q2; Company recently issued Rs 1.6 arba worth IPO to general public
Thu, May 14, 2020 7:16 AM on Financial Analysis, Stock Market, Latest,
Nepal Reinsurance Company Limited has reported a total profit of Rs 62.33 crore including profit from Life Insurance and Non-Life Insurance business for the Q2 of FY 2076/77. The profit rises by 11.72% compared to corresponding quarter which was Rs 55.79 crore.
The profit from Life insurance amounts to Rs 6.01 crore while the net profit from Non-Life Insurance amounts to Rs 56.32 crore
The total earnings from premium of the company increased by just 1% amounting Rs 3.01 arba in the current quarter which was Rs 2.99 arba in the second quarter of the previous fiscal year.
The paid up capital of the company stands at Rs 8.40 arba and its total reserve amounts to Rs 2.54 arba.
The company’s Insurance Fund stands at Rs 1.47 arba.
Nepal Re-insurance company has recently issued 1,60,00,000 units ordinary shares worth Rs 1.6 Arba to the general public and the company is yet to list its shares in Nepal Stock Exchange.
Major Highlights:
|
Particulars (In Rs '000) |
Nepal Re-insurance Co Ltd |
||||||||
|---|---|---|---|---|---|---|---|---|---|
|
Q2 2076/77 |
Total |
Q2 2075/76 |
Total |
Difference |
Total |
||||
|
|
Non-Life |
Life |
Non-Life |
Life |
Non-Life |
Life |
|||
|
Paid Up Capital |
8,400,000 |
|
8,400,000 |
8,400,000 |
|
8,400,000 |
- |
- |
0.00% |
|
Reserve and Surplus |
2,056,450 |
484,658 |
2,541,108 |
1,773,066 |
400,327 |
2,173,393 |
16% |
21% |
16.92% |
|
Insurance Fund |
1,475,091 |
|
1,475,091 |
1,113,641 |
1,113,641 |
32% |
- |
32.46% |
|
|
Net Premium |
2,817,302 |
199,813 |
3,017,115 |
2,792,039 |
198,639 |
2,990,678 |
1% |
1% |
0.88% |
|
Re-Insurance Commission Income |
21,798 |
|
21,798 |
43,597 |
|
43,597 |
-50% |
- |
-50.00% |
|
Income from Investment, Loan and others |
112,269 |
9,416 |
121,685 |
85,034 |
18,059 |
103,093 |
32% |
-48% |
18.03% |
|
Claim Payment (Net) |
693,124 |
66,111 |
759,235 |
459,992 |
60,015 |
520,007 |
51% |
10% |
46.00% |
|
Re-Insurance Commission Expenses |
892,233 |
|
892,233 |
740,802 |
|
740,802 |
20% |
- |
20.44% |
|
Gross Profit |
611,404 |
77,276 |
688,680 |
548,559 |
76,841 |
625,400 |
11% |
1% |
10.12% |
|
Net Profit |
563,259 |
60,102 |
623,361 |
501,201 |
56,759 |
557,960 |
12% |
6% |
11.72% |
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