Prime Life Insurance reports increase in major profitability indicators in Q3; Look at the major highlights
Wed, May 5, 2021 7:52 AM on Latest, Financial Analysis,
Prime Life Insurance Company Limited (PLIC) has published its third-quarter report of the fiscal year 2077/2078 with an increase in Net Profit by 24.87% compared to the corresponding quarter of the previous year. The company’s net earnings increased to Rs. 22.86 crores in this quarter from Rs. 18.30 crores in the corresponding quarter.
As per the unaudited report for the third quarter published today, PLIC has a paid-up capital of Rs. 2.41 Arba with a reserve of Rs. 62.52 crores.
The company has Rs. 14.00 Arba in life insurance fund and Rs. 14.76 crores as Contingent Fund.
The Net Premium rose by 37.50% to Rs. 3.07 Arba in this quarter from Rs. 2.23 Arba in the corresponding quarter of the previous year. The company has earned Rs. 86.87 crores from income from investment, loans, and other headings.
The company’s Net claim increased by 77.81% to Rs. 80.69 crores in this quarter. The company’s number of policies stood at 238,831 till Q3 of 2077/2078.
Its annualized earnings per share (EPS) stood at Rs. 12.61 whereas Net worth per share stood at Rs. 131.98. The company traded at a P/B multiple of 6.63 times.
Major Highlights:
|
Particulars |
Prime Life Insurance Limited |
||
|---|---|---|---|
|
Q3, 2077/2078 |
Q3, 2076/2077 |
Difference |
|
|
Paid-Up Capital |
2,417,057.00 |
2,007,939.00 |
20.38% |
|
Reserve & Surplus |
625,299.00 |
1,054,116.00 |
-40.68% |
|
Insurance Fund |
14,003,619.00 |
10,660,637.00 |
31.36% |
|
Contingent Fund |
147,667.00 |
131,689.00 |
12.13% |
|
Gross Premium |
3,117,196.00 |
2,260,668.00 |
37.89% |
|
Net Premium |
3,076,608.00 |
2,237,587.00 |
37.50% |
|
Re-Insurance Income |
- |
- |
- |
|
Income from Investment, Loan, and others |
868,797.00 |
652,203.00 |
33.21% |
|
Claim Payment (Net) |
806,953.00 |
453,826.00 |
77.81% |
|
Agent Commission |
348,519.00 |
232,958.00 |
49.61% |
|
Net Profit |
228,625.00 |
183,092.00 |
24.87% |
|
No. Of Policies |
238,831.00 |
334,624.00 |
-28.63% |
|
Annualized EPS (Rs.) |
12.61 |
12.16 |
- |
|
Net Worth Per Share |
131.98 |
159.06 |
- |
|
Price/Book Ratio (times) |
6.63 |
- |
- |
