Strong financials published by five non-listed life insurance companies for Q1; all report increment in net profit

Prabhu Life Insurance Company (PRLIL) has published its unaudited first quarterly report for the FY 2076/77. It has reported a net profit of Rs.1.22 Crore till this month which was Rs.1.20 Crore in the corresponding quarter of FY 2075/76.

The net earnings from a premium of Prabhu Life amount to Rs.13.29 Crore which stood at Rs.6.04 Crore in last year's corresponding quarter.

The paid-up capital of the company stands at Rs.1.40 Arba with Rs.11.99 Crore in the reserve and Rs.41.72 Crore in the life insurance fund.

IME Life Insurance Company Limited (IMELICL) has posted quarterly report for the first quarter of the year 2076/77.

The paid up capital of the company stands at Rs.1.40 Arba. The reserves of the company went up from Rs.11.20 Crore to Rs.20.83 Crore, by the end of the first quarter. The company created life insurance fund worth Rs.82.03 Crore.

The net profits of the company stands at Rs.2.95 Crore by the end of the first quarter against Rs.3.04 Crore in the previous year. Net earnings from premium grew from Rs.10.83 Crore to Rs.22.19 Crore. The number of insurance policies stands at 93,168 and has provided claims to 49 policies.

The company has posted annualized EPS of Rs.8.45 and net worth per share of Rs.116.69.

Jyoti Life Insurance Company Limited (JLICL) has earned a net profit of Rs.3.76 Crore in the Q1 of 2076/77 fiscal year. The profit of the company has increased in this quarter compared to Rs.3.01 Crore in corresponding quarter of last fiscal year.

As per the unaudited report published today, the net earnings from premium has increased massively to Rs.26.42 Crore in Q1 2076/77 from Rs.12.02 Crore in the corresponding quarter of last fiscal year. The company's number of policyholders stood at 4,206 in Q1 2076/77 from 3,198 in the last fiscal year.

The insurance company has a paid-up capital of Rs.1.54 Arba with a reserve of Rs.24.80 Crore in Q1 2076/77. The company’s life insurance fund stands to Rs.91.46 Crore.

Its annualized EPS stands at Rs.9.76, net worth per share at Rs.117.89.

Sun Nepal Life Insurance Company (SNLICL) has published its unaudited financial report for the first quarter of the current fiscal year.

The profit has been reported as Rs.3.50 Crore till the first quarter of FY 2076/77. It is an increase from the previous year corresponding quarter's profit of Rs.3.17 Crore. The insurance company collected Rs.24.05 Crore as earnings from premium in the first quarter of FY 2076/77.

The paid-up capital of the company is Rs.1.40 Arba with Rs.16.57 Crore in the reserve and surplus. It has Rs.78.06 Crore in the life insurance fund of the company. The company has sold 40,740 insurance policies till the end of review period.

Union Life Insurance Company Limited posted a net profit of Rs.10.45 Crore in the first quarter of the fiscal year 2076/77, up from Rs.3.67 Crore in the corresponding period of last fiscal year.

The paid up capital of the company remains unchanged at Rs.1.50 Arba. The reserves stand at Rs.45.52 Crore while the life insurance fund stands at Rs.2.49 Arba.

The company earned Rs.77.82 Crore from premium by the end of the first quarter. Total number of policies in force has increased to 1.46 Lakh this quarter from 91 thousand in the corresponding quarter of FY 2075/76.

None of the above mentioned companies have issued IPO to the general public yet.