Q4 report of Metlife Insurance shows Rs 25.91 crore profit; Profit expected to rise after addition of profit from actuary report: Reliance Life Insurance earns Rs 7.99 crore net profit

MetLife American Life Insurance Company has stated Rs 25.91 crore net profit in the fourth quarter of the fiscal year 2074/75. The actuary report of last FY is yet to come, due to which there is huge difference in profit of life insurance company.

As per the unaudited report for the fourth quarter, the insurance company reported net profit of Rs 25.91 crore in Q4 of fiscal year 2074/75, from Rs 45.11 crore of the corresponding fiscal year. Last year unaudited figure was Rs 22.24 crore only. But after the actuary valuation of the company profit rose to Rs 45.11 crore.

The company’s earnings from premium rose to Rs 3.53 arba in Q4 from Rs 3.01 arba in the corresponding quarter. The reserve fund of the company has also inclined to Rs 1.54 arba from the corresponding year’s 1.30 arba.

The company’s life insurance fund has also increased to Rs 14.98 arba from Rs 12.85 arba in the corresponding quarter of the previous year.

Metlife American Insurance Company might opt to issue IPO or FPO for the general public in the coming days.

Reliance Life Insurance Company (RLIL) has also published their unaudited financial report for the fourth quarter of the current fiscal year. The profit has been reported as Rs 7.99 crore in the fourth quarter.

The insurance company collected Rs 8.47 crore as earnings from premium in the Q4 of FY 2074/75.

The paid up capital of the company is Rs 1.47 arba with Rs 7.99 crore in the reserve and surplus. It has Rs 4.71 crore in the life insurance fund of the company.

The company has been able to issue 2,338 insurance policies for the fiscal year 2074/75.