Himalayan Re Insurance Reports Profit Growth in FY 2081/82

Kathmandu – Himalayan Re Insurance has reported a modest increase in net profit for the fourth quarter of the previous fiscal year, according to its unaudited financial statements.

The reinsurer earned a net profit of Rs 1.39 billion by the end of FY 2081/82, up 5.84 percent from Rs 1.31 billion in the corresponding period of the previous fiscal year.

During the review period, the company’s net earned insurance premiums increased by 17.45 percent, while total income rose by 17.06 percent. Net claim payments surged by 30.76 percent, contributing to a 19.12 percent rise in total expenses.

Earnings per share also recorded a slight improvement, climbing by Rs 0.16 to Rs 12.79. As the end of Ashar, the company’s price-to-earnings ratio stood at 71.97 times, while net worth per share was reported at Rs 155.9.

The company’s paid-up capital stands at Rs 10.86 billion. It also holds Rs 3.12 billion in share premium, Rs 1.96 billion in special reserves, Rs 198 million in the catastrophe fund, and Rs 827.6 million in retained earnings. However, its other equity remains negative at Rs 184.8 million.