See the financial highlights from first quarter reports of 5 life insurance companies namely, Reliable Nepal, IME Life Insurance, Union Life Insurance, Citizen Life Insurance and Sanima Life Insurance

Reliable Nepal Life Insurance Limited has published the unaudited quarterly report for the first quarter of FY 75/76. The company’s paid up capital remains unchanged at Rs.1.40 Arba since the corresponding quarter of the previous year. The reserves have grown by more than 300% from Rs.4.17 Crore to Rs.17.42 Crore by the end of the first quarter. The life insurance fund stands at Rs.17.25 Crore.

The company’s earnings from premium grew from Rs.52.58 Lakhs to Rs.22.21 Crore. The net profits of the company stands at Rs.5.25 Crore. The company posted EPS of Rs.15.02 and net worth per share of Rs.112.44. The number of inforce policies went up from 1,471 policies to 201,208 policies by the end of the first quarter.

Highlights

IME Life Insurance Company Limited posted decent growth in the first quarter report for the year 75/76. The paid up capital stands at Rs.1.4 Arba. The reserves of the company went up from Rs.3.66 Crore to Rs.11.20 Crore, marking an increase of 205%. The company created life insurance fund worth Rs.25.80 Crore.

The net profits of the company stands at Rs.3.04 Crore by the end of the first quarter. Earnings from premium grew from Rs.36.60 Lakhs to Rs.10.83 Crore. Total number of inforce policies stands at 55,874 policies. The company posted EPS of Rs.8.70 and net worth per share of Rs.108.89.

Highlights

Union Life Insurance Company Limited posted a net profit of Rs.3.67 Crore in the first quarter of the fiscal year 75/76. Paid up capital of the company remains unchanged at Rs.1.50 Arba compared to the corresponding quarter of the previous year. The reserves stands at Rs.12.77 Crore while the life insurance fund stands at Rs.55.75 Crore.

The company earned Rs.39.14 Crore from premium by the end of the first quarter. Total number of inforce policies that was at 483 policies to 22,022 policies by the end of the first quarter.

Highlights

Citizen Life Insurance Company Limited has posted a fall of 45% in the net profits for the first quarter of FY 75/76. The net profits was Rs.4 Crore at the corresponding quarter of the previous year which fell to Rs.2.19 Crore by the end of the first quarter. The paid up capital of the company remains unchanged at Rs.1.75 Arba.

The reserves of the company grew by almost 170% and currently stand at Rs.12.27 Crore. Life insurance fund worth Rs.16.95 Crore was created by the end of the first quarter. The company earned Rs.15.39 Crore through premium. Total number of inforce policies stands at 71,186 policies.

Highlights

In its short period of operation, Sanima Life Insurance Company Limited published the following results for the first quarter of fiscal year 75/76. The paid up capital of the company stands at Rs.1.40 Arba. The company has Rs.7.76 Crore in its reserves and life insurance fund stands at Rs.8.64 Crore.

The company posted earnings of Rs.6.58 Crore through means of premium. Net profit by the end of the first quarter stands at Rs.2.23 Crore. The company currently has 5,761 inforce policies.

Highlights