Nepal Reinsurance Company earns Rs 91.69 crore till Q3; Net premium rises by 39.21% to Rs 4.94 arba
Tue, Aug 4, 2020 6:46 AM on Financial Analysis, Latest,
Nepal Reinsurance Company Limited has reported a total profit of Rs 91.69 crore including profit from Life Insurance and Non-Life Insurance business for the Q3 of FY 2076/77. The profit rises by 2.78% compared to the corresponding quarter which was Rs 89.13 crore.
The profit from Life insurance amounts to Rs 9.10 crore while the net profit from Non-Life Insurance amounts to Rs 82.50 crore
The total earnings from a premium of the company increased by just 39.21% amounting to Rs 4.94 arba in the current quarter which was Rs 3.54 arba in the third 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 3.31 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 shares are already listed in Nepal Stock Exchange.
Major Highlights:
| Particulars (In Rs '000) | Nepal Reinsurance Co Ltd | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| Q3 2076/77 | Total | Q3 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 | 2,796,816 | 515,634 | 3,312,450 | 2,081,308 | 399,467 | 2,480,775 | 34% | 29% | 33.52% |
| Insurance Fund | 1,475,091 | 1,475,091 | 1,113,641 | 1,113,641 | 32% | - | 32.46% | ||
| Net Premium | 4,628,450 | 312,252 | 4,940,702 | 3,251,753 | 297,455 | 3,549,208 | 42% | 5% | 39.21% |
| Re-Insurance Commission Income | 57,972 | - | 57,972 | 49,048 | - | 49,048 | 18% | - | 18.19% |
| Income from Investment, Loan and others | 257,895 | 12,872 | 270,767 | 151,126 | 26,784 | 177,910 | 71% | -52% | 52.19% |
| Claim Payment (Net) | 1,741,673 | 102,840 | 1,844,513 | 845,699 | 81,239 | 926,938 | 106% | 27% | 98.99% |
| Re-Insurance Commission Expenses | 1,473,189 | - | 1,473,189 | 969,027 | 18,209 | 987,236 | 52% | - | 49.22% |
| Gross Profit | 704,785 | 124,516 | 829,301 | 819,757 | 127,621 | 947,378 | -14% | -2% | -12.46% |
| Net Profit | 825,077 | 91,078 | 916,155 | 800,434 | 90,941 | 891,375 | 3% | 0% | 2.78% |
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