Financial statement of Reliable Nepal Life is released, 8.5 Billion Rupees in Life Insurance Fund with Improvement in other indices
Kathmandu: Reliable Nepal Life has released the half-yearly financial statement for the current fiscal year on 23rd of Magh, 2080 B.S. According to the financial statement, the company has managed to collect 8.43 billion Rupees in the life insurance fund. Last Fiscal year, the size of the life insurance fund of the company was 6.49 billion Rupees.
The company with a total paid-up capital of 4 billion Rupees has earned a profit of 230.9 million Rupees in the second quarter of the current fiscal year (2079/80). In the same period of the last fiscal year, the company has made a profit of 220 million 43 thousand Rupees. However, the profit of life insurance companies may be changed during the actuarial evaluation.
The company has earned a total insurance fee of 1 billion 932.5 million Rupees within the 6 month of current fiscal year. During the same period of the last fiscal year, the company earned 1 billion 786.5 million Rupees in total insurance fees which shows that the total insurance fee income of the company has increased by 8 percent this fiscal year.
Reliable Nepal Life has spent 214.6 million Rupees for agent commission in six months. During the review period, the company’s earnings per share was Rs 11.55 and net worth per share was Rs .179.71.
