Rastriya  Beema Sanstha published it’s Q1 report for the 1st time in so many years

ShareSansar, November 7:

Rastriya Beema Sanstha, one of the leading insurance companies has published a financial statement for the first time which shows a profit of Rs.92.72 lakhs in the first quarter of the FY 2071/72.

The insurance company EPS stands at Rs.99.70 (annualized EPS is Rs.399) in Q1, which is an outstanding figure. It has also maintained Rs.28.48 crore in the reserve fund of the company.

In total the company has Rs.14.02 arba in its insurance fund; including Rs.12 crore only from the first quarter of this fiscal year.

The Company has earned Rs 14.87 crore by investing in different sectors as per the financial statement published today.

Earlier, Rastriya Beema Sansthan (RBS) was planning to apply for the registration of its non-life insurance wing under the name Rastriya Beema Company Ltd. at the Office of Company Registrar (OCR).

The state-run insurer had begun the process to split into separate life and non-life entities more than 18 years ago as per the Rastriya Beema Sansthan Act 1967 revision undertaken in 1995. Moreover, the amended Insurance Act — that governs insurance companies — also forbids any company to operate both life and non-life insurance businesses. The process to split the company according to the regulations had failed to materialize, despite repeated orders from the regulator, finance ministry and even the Cabinet.