Sanima Reliance Life Insurance Profits Increased 128 Percent

Kathmandu : The profit of Reliance Life Insurance has increased more than 100 percent. According to the financial statement of the first quarter of current financial year, the profit of the company has increased by 128.38 percent and reached 110.8 million. During the same period of the last financial year the profit of the company was 48.5 million rupees.

During the first 3 months of this financial year the company has earned a total of 1 billion 51 million insurance premiums. Out of the total insurance premiums the company has spent 80.27 million rupees for reinsurance and has earned 1.43 billion net insurance premiums. The increase in total insurance fee income is 160.16 percent higher last year.

The company has spent 151 million 2 thousand under agent commission during this three month period. In the first three months of the last financial year company spent 72 million rupees. The accumulated profit of Sanima Reliance with a total paid-up capital of 4 billion 18 million is 82, million 46 thousand.

Other equity has reached 109.9 million, while the life insurance fund has increased by 8.31 percent to 11.82 billion compared to the end of last June. At the end of June the life insurance fund of the company was 109. million100 hundred.