See the Q2 report of 6 new Life Insurance Companies; Jyoti Life and Reliable report astounding rise in profit

Citizens Life Insurance Company limited has reported its net profit as Rs 5.14 crore in the second quarter of the current fiscal year 2074/75. The company’s earnings from premium is Rs 6.38 crore and its insurance fund amounts to Rs 78.84 lakh. Its paid up capital stands at Rs 1.75 arba with Rs 4.70 crore in the reserve. Citizens life Insurance will be floating Initial Public Offering (IPO) worth Rs 75 crore to general public in near future to maintain paid up capital of Rs 2.50 arba. Q2 Report Prabhu Life Insurance has published its second quarter report of its first year of operation. The net profit of Rs 3.72 crore was reported in the second quarter of the current fiscal year. The company’s earnings from premium is Rs 1.19 crore in Q2 of the current fical year. Its insurance fund stands at Rs 85.20 lakh. The company’s paid up capital is Rs 1.4 arba with Rs 3.74 crore in the reserve. The insurance company is soon slated to issue its public shares worth Rs 60 crore to increase its paid up capital to Rs 2 arba. Q2 report Likewise, Reliable Nepal Life Insurance Limited has also published its second quarterly financial for the fiscal year 2074/75. The insurance company has reported a rise of 71.27% in the net profit. The net profit of the company is Rs 6.31 crore in the Q2 of the current fiscal year which was Rs 3.68 crore in the Q2 of the last fiscal year. The company’s earnings from premium is reported as Rs 5.99 crore in the current quarter which has increased from previous quarter’s 5.26 crore. Its insurance fund stands at Rs 83.43 lakh which was Rs 4.95 lakh in the corresponding quarter of the last fiscal year. The paid up capital stands at Rs 1.4 arba with Rs 4.80 crore in the reserve. Q2 Report Sanima Life Insurance Company Limited (SALICL) has reported a profit of Rs 3.60 crore for the Q2 of FY 2074/75. The earnings from premium of the company amounted to Rs 16.32 lakh in the current quarter. The paid up capital of the company stands at Rs 1.40 arba and its reserve amounts to Rs 3.42 crore. It is still short of Rs 60 crore to maintain the paid up capital as directed by the Insurance Board. The insurance company has authorized and issued capital of Rs 3 arba and Rs 2 arba respectively. Out of Rs 2 arba issued capital, the company has separated Rs 1.40 arba paid up capital. In the upcoming days, the company will issue 30% or Rs 60 crore as IPO and maintain its paid up capital up to Rs 2 arba. Q2 Report Jyoti Life Insurance Company 2nd quarterly report witnessed astounding rise of 107.77% in the net profit. The net profit of the insurance company amounts to Rs 8.03 crore in the second quarter of the current fiscal year which was Rs 3.86 crore in the first quarter of the same fiscal year. The insurance company has collected Rs 2.92 crore as earnings from premium which was just Rs 22.89 lakh in the first quarter of the current year. It does not have any amount in the insurance fund. The paid up capital of the company is 1.54 arba with Rs 8.99 crore in the reserve. The earning per share of the company stands at Rs 5.21 and net worth per share is Rs 105.84. Q2 Report Reliance Life Insurance Company has also published their unaudited financial report for the second quarter of the current fiscal year. The profit has been reported as Rs 6.54 crore in the current quarter. The insurance company collected Rs 61.35 lakh as earnings from premium in the Q2 of FY 2074/75. The paid up capital of the company is Rs 1.47 arba with Rs 6.54 crore in the reserve and surplus. It does not have any amount in the life insurance fund of the company. Q2 Report