Nepal Reinsurance Company (NRIC) Publishes Q2 Company Analysis of FY 2079/80; Records Profit of Rs. 46.45 Crores From Non-Life Income
Tue, Jun 6, 2023 3:54 PM on Latest,
Nepal Reinsurance Company Limited (NRIC) has published its second quarter report for the fiscal year 2079/80 with a Net Profit of Rs. 46.45 from non-life income crores up to the quarter.
Up to Q2 of the past fiscal year, the company had earned Rs. 29.14 crores which is 38.18 % less than the company's earnings upto the corresponding quarter of the ongoing financial year from non-life.
Similarly, the re-insurance company has Rs. 2.51 Arba in its Insurance Fund in the second quarter of the ongoing fiscal year.
The company has earned Rs. 70.11 crores from investments, loans and other sources up to the second quarter of current financial year from non-life operations while it has only earned Rs. 41.91 lakhs from life operations.
The company maintains a paid-up capital of 11.65 Arba and has Rs. 6.17 Arba in the form of reserve and surplus (from both non-life and life).
NRIC, the sole NEPSE-listed company re-insurance company, has a Earnings per Share (EPS) of Rs. 5.02 and a Net Worth per Share of Rs. 153.04.
Major Financial Highlights:
|
Particulars |
Nepal Re-insurance Company |
|||||||||
|---|---|---|---|---|---|---|---|---|---|---|
|
Q2 2079/80 |
Total |
Q2 2078/79 |
Total |
Difference |
||||||
|
Non-Life |
Life |
Non-Life |
Life |
Life |
Non-Life |
|||||
|
Paid Up Capital |
11,650,000.00 |
11,650,000.00 |
11,650,000.00 |
|
11,650,000.00 |
|
0.00% |
|||
|
Reserve and Surplus |
5,891,005.00 |
287,687.00 |
6,178,692.00 |
3,553,462.00 |
578,469.00 |
4,131,931.00 |
-50.27% |
65.78% |
||
|
Insurance Fund |
2,516,461.00 |
2,516,461.00 |
2,547,906.00 |
|
2,547,906.00 |
|
-1.23% |
|||
|
Net Premium |
1,798,677.00 |
1,008,496.00 |
2,807,173.00 |
4,174,042.00 |
784,018.00 |
4,958,060.00 |
28.63% |
-56.91% |
||
|
Income from Investment, Loan and others |
701,149.00 |
4,191.00 |
705,340.00 |
490,459.00 |
4,487.00 |
494,946.00 |
-6.60% |
42.96% |
||
|
Claim Payment (Net) |
1,991,130.00 |
824,829.00 |
2,815,959.00 |
4,174,042.00 |
498,341.00 |
4,672,383.00 |
65.51% |
-52.30% |
||
|
Provision for Losses |
662,714.00 |
662,714.00 |
|
|
0.00 |
|
|
|||
|
Re-Insurance Commission Expenses |
595,555.00 |
16,915.00 |
612,470.00 |
1,390,136.00 |
12,885.00 |
1,403,021.00 |
31.28% |
-57.16% |
||
|
Administrative Expenses |
56,286.00 |
18,686.00 |
74,972.00 |
50,025.00 |
8,177.00 |
58,202.00 |
128.52% |
12.52% |
||
|
Net Profit |
464,546.00 |
-172,071.00 |
292,475.00 |
336,186.00 |
-44,756.00 |
291,430.00 |
284.46% |
38.18% |
||
|
EPS (In Rs.) |
5.02 |
5.00 |
|
0.36% |
||||||
|
Net Worth per Share (In Rs.) |
153.04 |
135.47 |
|
12.97% |
||||||
|
PE Ratio |
0.002858364 |
- |
- |
|||||||
