Post earthquake, Non-Life Insurance company made increment of 19% in total net profit; SICL, RBCL, SIL & NLG covers 40% of the total net profit
Wed, May 18, 2016 3:00 AM on Latest, Exclusive, Financial Analysis, Featured, Stock Market,
There are a total 17 non-life insurance companies, out of which 14 non-life companies have published their third quarterly report for the fiscal year 2072/73.
Total net profit of all the 14 companies stands at Rs 1.22 arba, which is an increment of 19 percent from the net profit of corresponding quarter of the last fiscal year. The average net profit of non-life sector stands at Rs 87.61 lakh. It is due to earthquake, there is increment in the net profit of non-life insurance company.
There are six non-life insurance companies with net profit more than average namely Shikhar Insurance Company Limited, Rastriya Beema Company Limited, Siddhartha Insurance Company Limited, NLG Insurance company Limited and Prabhu Insurance Company Limited. Eight Insurance companies net profit has been below average.
Five non-life insurance companies covers 58% of the total net profit out of which SICL, RBCL and SIL covers 40% of the total net profit.
Shikhar insurance Company Limited (SICL) has managed to earn the highest net profit in this quarter, whereas in the corresponding quarter last year Rastriya Beema Company Limited (RBCL) had the highest net profit. The net profit of RBCL has decline by 46% from the corresponding quarter.
Shikhar Insurance Company Limited, Prabhu Insurance Company Limited, Siddhartha Insurance Company Limited, Prudential Insurance Company Limited and NLG Insurance company Limited are the top five companies with highest addition to net profit from the corresponding quarter of the last fiscal year.
In the third quarter of last fiscal year, NB Insurance was in loss, whereas the insurance company has managed to earn a net profit of Rs 2.20 crore in Q3 of the ongoing fiscal year.
There are six non-life insurance companies with net profit more than average namely Shikhar Insurance Company Limited, Rastriya Beema Company Limited, Siddhartha Insurance Company Limited, NLG Insurance company Limited and Prabhu Insurance Company Limited. Eight Insurance companies net profit has been below average.
Five non-life insurance companies covers 58% of the total net profit out of which SICL, RBCL and SIL covers 40% of the total net profit.
Shikhar insurance Company Limited (SICL) has managed to earn the highest net profit in this quarter, whereas in the corresponding quarter last year Rastriya Beema Company Limited (RBCL) had the highest net profit. The net profit of RBCL has decline by 46% from the corresponding quarter.
Shikhar Insurance Company Limited, Prabhu Insurance Company Limited, Siddhartha Insurance Company Limited, Prudential Insurance Company Limited and NLG Insurance company Limited are the top five companies with highest addition to net profit from the corresponding quarter of the last fiscal year.
In the third quarter of last fiscal year, NB Insurance was in loss, whereas the insurance company has managed to earn a net profit of Rs 2.20 crore in Q3 of the ongoing fiscal year.
