Increase in The Profit of National Life, How is the Financial Situation?

Kathmandu : The earnings per share of National Life Insurance has decreased whereas the profit has increased by 0.24 percent in comparison to first quarter of last financial year.

According to the financial statement of the first quarter published by National Life Insurance Company Limited, the income per share is 10 rupees 40 paisa and the net worth book value per share is 129 rupees 12 paisa. In the same period of last financial year, National’s earnings per share was 12 rupees 88 paisa.The profit of National Life has increased by 0.24 percent in this financial year compared to the first quarter of last financial year.

In the first quarter of the last fiscal year, National earned a profit of 129.9 million Rupees, and in the first quarter of this financial year, the National earned a profit of 130.2 million Rupees.The company has earned 4 billion 190 million Rupees total insurance fees during the 3 months of this financial year.

Out of the total insurance fee, there was 3 billion 280 million Rupees renewal insurance fee and 907.2 million Rupees first insurance fee. Compared to the first quarter of last financial year, the total insurance fee income has decreased by 4.25 percent, while the first insurance fee has increased by 7.65 percent.Renewal insurance fee of National has been negative by 7.08 percent.

The company has earned 4 billion 100 million Rupees net insurance premiums only through reinsurance. With a total paid-up capital of 5 billion 10 million Rupees , National Life has 27.8 million Rupees in share premium, 483.9 million Rupees in disaster reserve, 490.08 million Rupees in retained earnings and 457 million Rupees in other reserves. Similarly, the life insurance fund has reached 68 billion 80 million Rupees. Where there is an increase of 3.49 percent.