Protective Micro Insurance Reports Rise in Net Profit in Q4, FY 2081/82

Kathmandu – Protective Micro Insurance Limited has reported a net profit of Rs. 760,090 in the fourth quarter of the fiscal year 2081/82, a recovery from the net loss of Rs. 1.99 million recorded in the same quarter of the previous year.

The company earned Rs. 87.24 million in gross premiums during the fourth quarter and Rs. 186.9 million throughout the fiscal year. After ceding premiums worth Rs. 130.2 million annually, the net earned premiums stood at Rs. 56.7 million.

Total income for the year reached Rs. 125.61 million, more than doubling from the previous fiscal year’s income of Rs. 60.59 million. This was driven in part by a significant boost in investment and loan income, which stood at Rs. 45.22 million this year, up from Rs. 11.45 million last year.

However, the company also faced a sharp rise in expenses. Total expenses rose to Rs. 120.28 million, compared to Rs. 59.30 million in the previous year. Gross claims paid reached Rs. 53.4 million, while operating expenses stood at Rs. 32.35 million, a notable increase from Rs. 14.07 million last year.

The company has maintained a paid-up capital of Rs. 525 million, with Rs. 2.31 million in special reserves and Rs. 231,976 in catastrophe reserves. Earnings per share (EPS) declined to Rs. 0.14, down from Rs. 1.24 last year.