Kathmandu: Surya Life Insurance Company has managed to increase its profit by 23.01 percent in the last FY 2077/78. The company has made a profit of Rs. 323.2 million in the last FY.Its profit was Rs. 262.7 million in the previous FY.
The company has managed to increase its net premium income and total premium income by 46.97 percent and 47.04 percent respectively. During this period, Surya Life has earned Rs. 4.18 billion in net premiums and Rs. 4.26 billion in total premium.
Life insurance fund has also increased by 43.53 percent after significant improvement in insurance fee and other indicators. The life insurance fund has reached Rs.10.66 billion. The life fund was Rs.7.42 billion in the previous FY. Similarly, the reserve fund has also increased by 25 percent to Rs. 837.6 million. Paid up capital has reached Rs. 2.26 billion.
Surya Life has improved long-term investment and credit by 15 percent. It has invested Rs.8.7 billion in such sectors. Similarly, insurance policy collateral has also increased by 55 percent this year. The company has invested Rs. 1.16 billion in the policyholders.
Net claims payments also increased by 82 percent last year. The company has paid its own claim of Rs. 812.9 million. The company had paid a claim of Rs. 445.9 million in the previous year. The commission received by agents has also increased by 39 percent. During this period, the agents have paid a commission of Rs. 48.54 million. The total number of existing insurance policies has also increased by 9 percent to 337,922. The company has an earnings per share(EPS) of Rs. 14 and a net worth of Rs. 132 per share.