Shikhar Insurance’s financial indicators are impressive in the 2nd quarter

Kathmandu: During the second quarter of the current fiscal year (2079/80), Shikhar Insurance Company’s business can be seen with significant progress. According to the financial statement published on 29th of Magh, 2080 B.S, there has been a significant progress in both the company’s profit and business, and there has been an impressive increase in the statistics.

The company has managed to earn a profit of 251 million 112 thousand 654 Rupees until the second quarter of the current fiscal year. Compared to the same period of the previous fiscal year, it has succeeded in increasing the profit by 19.17 percent. In the previous year, the net profit of the company was 210 million 710 thousand Rupees. It has also succeeded in increasing the company’s earnings per share. Earnings per share, which was Rs 15.87 in the previous fiscal year, reached Rs 18.92 in the six months of current fiscal year.

In the review, the company’s insurance business increased by 3.18 percent from 1 billion 880 million Rupees to 1 billion 940 million Rupees.

Similarly, the company has made significant improvements in claim payments as the claim payment of the company is focusing on profits and insurance services while avoiding risky business. The insurance claim of the company has decreased by 25 percent from 1 billion 190 million Rupees to 890 million Rupees which shows slightly reduction in claim payment due to the documentation issue.

During the review period, Shikhar Insurance Company has spent 739 million Rupees and has been able to gain the total income of 1 billion 97 million Rupees.

Shikhar Insurance Company, which has a total paid-up capital of 2 billion 654 million 947 thousand 300 rupees, along with this, it has 134.8 million Rupees in the disaster fund and 314 million 979 thousand Rupees in the reserve fund. Similarly, the total fund size has exceeded 6 billion 80 million Rupees, including 5 billion 640 million Rupees of the insurance fund.