Siddhartha Premier Insurance Reports Strong Growth in First Quarter

Kathmandu – Siddhartha Premier Insurance Limited has released its financial statement for the first quarter of the current fiscal year, showing significant improvements across key financial indicators.

The company earned a profit of Rs. 64 million in the first quarter of the current year, a notable increase from Rs. 140 million during the same period last year. This growth reflects the company’s robust performance and effective management of its resources.

Siddhartha Premier Insurance reported a rise in net insurance premiums, which increased from Rs. 342.3 million in the first quarter of last year to Rs. 347.1 million in the current year. The company’s total income for the period reached Rs. 585.7 million, with expenditures of Rs. 476.6 million.

As of the first quarter, the company has paid a total of Rs. 611.3 million in claims to the insured. The company’s paid-up capital stands at Rs. 2.80 billion, reflecting its financial strength and stability.

In terms of reserves, Siddhartha Premier Insurance has accumulated Rs. 1.17 billion in the reserve fund, Rs. 195.5 million in the disaster fund, and Rs. 2.55 billion in the special reserve. Additionally, the company holds Rs. 4 lakh in share premium.

The company’s earnings per share (EPS) is Rs. 9.12, while its net worth per share stands at Rs. 277.67, further showcasing its solid financial position.