Sanima Insurance reports Rs 2.30 crore profit in the first year of operation; Only 15 policies sold for the fiscal year

Sanima Insurance Company Limited has registered net profit worth Rs 2.30 crore in the fourth quarter report.

The non-life insurance company has been able to generate Rs 4.11 crore from the investment loans and other incomes.

The insurance company has a paid-up capital of Rs 70 crore with Rs 84.39 lakh in the reserves and Rs 1.15 crore in the Insurance fund.

Within the period of its operation, the non-life insurance company has collected Rs 1.31 lakh as the net insurance premium with Rs 38,197 as the reinsurance commission.

The company has issued 15 insurance policies within the evaluation period.

The majority of the profit of the non-life insurance company has been made solely from the mobilization of paid-up capital.