Oriental Insurance’s net Premium Income Increased 23 Percent, Overall the Financial Position positive

Kathmandu : The net insurance fee income of Oriental Insurance Company has increased. According to the financial statement for the first quarter of the current financial year. Both total insurance fee income and profit have decreased. but net insurance fee income has increased.

The company has earned 169 million rupees in net insurance premium. During the first three months of the last financial year the company earned 137.1 million rupees in net insurance premiums. Compared to the previous financial year, the company’s net insurance fee income has increased by 23 percent.

In the first three months the company has earned a profit of Rs.14.9 million. In the same period of the last financial year Oriental earned a profit of 50.9 million rupees. This time the profit has declined. In the first three months of the current financial year the company has earned a total insurance premium of Rs.250.69 million.

During the same period of the last financial year, the company earned a total insurance fee of Rs.292 million. Compared to the last financial year, the total insurance fee income has also decreased. During the review period, the company has spent 87.9 million rupees through reinsurance.In the same period of the last financial year, the company spent 154.8 million through reinsurance. The company has spent 181 million rupees on agent commission.

The company with a share capital of 251.1 million rupees has 5.69 million rupees in its disaster reserve fund. 178 million 5100 thousand rupees in other equity. There is 222 million rupees in reserve fund. The solvency ratio of the company is 1.5. amount.