Citizen Life Insurance’s net premiums fees and profits both increased The life insurance fund Accumulated about 12 billion

Kathmandu : Citizen Life Insurance has managed to earn a total insurance fee of Rs.2.73 billion during the second quarter. Compared to last year, the total insurance premium of the company has increased by 2 percent.

In the second quarter of the last financial year the company earned 2.66 billion in total insurance fees. In the second quarter, the net insurance fee income increased by 4.23 percent, according to the current published data by the company.

On the basis of net insurance premiums the company has collected 2.57 billion rupees during this period. In the last financial year, the company collected 2.46 billion rupees in net insurance fee.During the period under review, the company has earned a profit of Rs.123.6 million. Compared to last year, the profit of the company has increased by 2.73 percent.

During the second quarter, 27.5 million rupees have been spent through the commission.

The company’s current paid-up capital is 3.75 billion rupees, 12 billion rupees in life insurance fund, 14 million rupees in disaster fund and 689.5 million rupees in reserve fund.The company’s earnings per share is Rs.6.60.