Sanima GIC Insurance Reports Profit Growth in FY 2081/82, Total Income Reaches 1.47 Billion

Kathmandu — Sanima GIC Insurance Limited has reported a solid financial performance for the last fiscal year, with growth in profit, earnings per share (EPS), and a stronger capital base.

According to the company’s fourth quarter financial statement, net profit rose by 10.13 percent to Rs 350.3 million by the end of the Ashar 2082, compared to Rs 318.1 million in the corresponding period of the previous fiscal year.

The company collected a net insurance premium of Rs 2.54 billion last fiscal year, reflecting a 1.33 percent increase from Rs 2.51 billion in the previous year. Its insurance fund expanded significantly by 22.29 percent, reaching Rs 4.4 billion.

Total income improved to Rs 1.47 billion from Rs 1.43 billion, while total expenses declined to Rs 976.3 million from Rs 996.7 million. Despite the overall reduction in expenses, commission payments to agents increased to Rs 44.3 million from Rs 37.2 million a year earlier.

EPS climbed from Rs 15.91 to Rs 16.30, with the company’s net worth per share standing at Rs 152.12. Sanima GIC Insurance maintains a paid-up capital of Rs 2.15 billion, alongside a catastrophe fund of Rs 46.4 million, retained earnings of Rs 183.2 million, and other equity worth Rs 131 million.