Union Life Insurance’s profit reported as Rs 7.80 crore in the third quarter; Sun Nepal Life Insurance earns Rs 11.64 crore net profit

Union Life Insurance Company Limited (ULICL) has also published its unaudited financial report for the third quarter of the FY 2074/75.

The life insurance company has reported a net profit of Rs 7.80 crore in the third quarter of the current year.

The company has stated it earnings from premium as Rs 39.06 crore.  The IPO worth Rs 64.50 crore will be issued at face value of Rs 100 per share to the general public.. After the IPO, its paid-up capital will reach Rs 2.15 arba with promoter-general public shareholding structure at 70%-30%.

The paid up capital of the company is RS 1.50 arba and the reserve fund of the company stands at Rs 8.27 crore. The company’s life insurance fund is reported as Rs 18.75 crore.

Sun Nepal Life Insurance Company Limited (SNLICL) has published its Q3 report for the fiscal year 2074/75. The net profit of the company has increased by 43.62% as compared to the second quarter of the current fiscal year.

SNLICL had net profit of Rs 8.10 crore in the second quarter of the fiscal year which has increased to Rs 11.64 crore. The insurance company has life insurance fund of Rs 8.05 crore which was Rs 4.45 crore in the previous quarter of the current year.

The life insurance company earned Rs 17.13 crore as earnings from premium in the third quarter.

The paid up capital of the company stands at Rs 1.40 arba with Rs 12.22 crore. It will be issuing IPO in the near future.