Sanima General Insurance reports growth in major profitability indicators; Company recently got listed in NEPSE
Thu, Nov 19, 2020 9:00 AM on Latest, Company Analysis,
Sanima General Insurance Limited (SGI) has published its first-quarter report of fiscal year 2077/2078 with an increase in Net Profit by a massive 109.93% compared to the corresponding quarter of previous year. The company’s net earnings increased to Rs. 1.56 crores in this quarter from Rs. 74.63 Lakhs in the corresponding quarter.
Sanima General Insurance has a paid-up capital of Rs. 70 crores with a reserve of Rs. 5.64 crores. Similarly, the company has Rs. 64.76 Lakhs as contingent fund. The company has an insurance fund of Rs. 6.39 crores.
The company reported 37.23% growth in gross premium. The company ceded most of its premium to the reinsurer which is why the company reported a total of Rs. 3.61 crores net premium for the quarter. The company had a net claim payment of Rs. 96 Lakhs which was Rs. 3.19 Lakhs in the corresponding quarter of previous year; an increment of 186.95%.
Its annualized earnings per share (EPS) stood at Rs. 8.95 whereas Net worth per share stood at Rs. 118.12.
Major Highlights:
|
Particulars |
Sanima General Insurance Limited |
||
|---|---|---|---|
|
Q1, 2077/2078 |
Q1, 2076/2077 |
Difference |
|
|
Paid-Up Capital |
700,000.00 |
700,000.00 |
- |
|
Reserve & Surplus |
56,428.00 |
26,886.00 |
109.88% |
|
Insurance Fund |
63,943.00 |
32,012.00 |
99.75% |
|
Contingent Fund |
6,476.00 |
3,194.00 |
102.76% |
|
Gross Premium |
122,564.92 |
89,314.58 |
37.23% |
|
Net Premium |
36,114.00 |
34,805.00 |
3.76% |
|
Re-Insurance Commission Income |
21,640.00 |
16,839 |
28.51% |
|
Income from Investment, Loan, and others |
2,796.00 |
2,060.00 |
35.73% |
|
Claim Payment (Net) |
9,168.00 |
3,195.00 |
186.95% |
|
Agent Commission |
2,378.00 |
2,124.00 |
11.96% |
|
Gross Profit |
13,890.00 |
-2,814.00 |
- |
|
Net Profit |
15,667.00 |
7,463.00 |
109.93% |
|
No. of Policies |
15,784 |
10,849 |
45.49% |
|
Annualized EPS (In Rs.) |
8.95 |
4.26 |
109.93% |
|
Net Worth per share (In Rs.) |
118.12 |
103.84 |
13.75% |
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