See the major highlights from Q1 report of Premier Insurance, Siddhartha Insurance and NLG Insurance

Premier Insurance Company Limited (PIC) has stated massive increase in its net profit by 93.94% in the first quarter of the ongoing fiscal year 2075/76.

Publishing the financial report today, it has posted net profit of Rs 4.12 crore in Q1 of the FY 2075/76, from Rs 2.12 crore in the corresponding quarter of the FY 2074/75.

While its income from net premium has increased from Rs 21.22 crore to Rs 22.06 crore at the end of Q1 this year, its income from reinsurance commission has also increased to Rs 5.50 crore.

Its current paid up capital stands at Rs 58.40 crore (after the adjustment of 13.52% bonus share) with Rs 67.10 crore in reserve and insurance fund amounts to Rs 42.15 crore.

To meet the capital requirement of Rs 1 arba as per Insurance Board till Ashad 2075, it should further hike its capital by Rs 41.59 crore (around 71.20%).

Its annualized earning per share stands at Rs 28.22 and net worth per share at Rs 293.63 

Siddhartha Insurance Limited (SIL) has stated growth in its net profit by 13.24% in the first quarter of the ongoing fiscal year 2075/76.

Publishing the financial report, it stated net profit of Rs 4.66 crore in Q1 of the FY 2075/76, up from Rs 4.12 crore in the corresponding quarter of the FY 2074/75.

While its income from net premium has decreased from Rs 25.07 crore to Rs 23.39 crore at the end of Q1 this year, its income from reinsurance commission has increased to Rs 8.88 crore.

Its current paid up capital stands at Rs 86.58 crore with reserve fund of Rs 16.80 crore and insurance fund of Rs 57.37 crore.

Its annualized earning per share stands at Rs 21.64.

NLG Insurance Company Limited (NLG) has stated growth in its net profit by 13.73% in the first quarter of the ongoing fiscal year 2075/76.

Publishing the financial report, it stated net profit of Rs 5.18 crore in Q1 of the FY 2075/76, up from Rs 4.55 crore in the corresponding quarter of the FY 2074/75.

While its income from net premium has increased from Rs 18.42 crore to Rs 21.89 crore at the end of Q1 this year, its income from reinsurance commission has increased to Rs 6.15 crore.

Its current paid up capital stands at Rs 64.04 crore with reserve fund of Rs 16.63 crore and insurance fund of Rs 73.74 crore.

Its annualized earning per share stands at Rs 32.37 with Net worth per share of Rs 247.73.