Sanima GIC Records Rise in Premium Income and Insurance Fund in Q1

Kathmandu – Sanima GIC Insurance Company Limited has released its first-quarter financial statement for the current fiscal year, showing growth in key indicators such as the insurance fund size and net insurance premium income.

According to the report, the company’s net insurance premium income increased by 3.39 percent, with total net business amounting to Rs 111.9 million during the review period.

The company’s insurance fund has expanded to Rs 5.32 billion, reflecting continued growth in long-term financial capacity.

During the same period, total insurance claim payments rose by 124.66 percent to Rs 337.06 million, driven by higher claim settlements recorded in the first quarter.

Investment and interest income, however, declined by 45 percent, totaling Rs 290,000. The company recorded total income of Rs 217.3 million and total expenses of Rs 417.5 million.

Sanima GIC’s paid-up capital stands at Rs 2.15 billion. The financial statement shows a negative reserve fund of Rs 19.4 million and a negative disaster fund of Rs 45.4 million. The company’s earnings per share (EPS) for the quarter remain negative at Rs 37.25.