Prabhu Insurance Progress Indicators Profit Increased by 21 Percent
Kathmandu : Prabhu Insurance has significantly improved its financial progress compared to the previous financial year. According to the financial statement of the first quarter of this financial year, progress has been seen in most of the indicators of Prabhu Insurance.Prabhu, with a share capital of 1.37 billion rupees, has earned a profit of 5.6 million rupees in the first three months.
In the same period of the last financial year, this company earned a profit of Rs.41.7 million This profit is 21 percent higher than the first three months of last financial year.
During the first three months of the current financial year, Prabhu has earned a total of Rs.443.3 million insurance premiums. During the same period of the last financial year, the company earned a total insurance fee of Rs.392 million. This time, Prabhu Insurance has also made progress in earning total insurance premiums.
During this period, the company has spent 31.38 million rupees through reinsurance. In the same period of the last financial year, the company spent 291.4 million for reinsurance. Similarly, Prabhu has spent 81 lakh 16 thousand on agent commission this time.
Prabhu has earned a net insurance fee of Rs.129.5 million in the first three months. In the same period of the last financial year, the company earned 100.6 million rupees in net insurance fee. Compared to the same period of the last financial year, the net insurance fee income is 28 percent higher.
During the review period, the company’s solvency ratio is 1.73 and the earnings per share is 14 rupees 73 paise. Net worth per share i.e. book value is 208 million. The company’s disaster reserve fund has 86.4 million rupees and the reserve fund has 9.54 million rupees. 1 billion 30 million rupees in other equity.
During the first three months, the insurance fund has 1 billion 95 million 72 million rupees. By the end of June of the financial year 2022/024, the insurance fund of the company was 173 million 96 thousand.