Kathmandu:Reliance Life Insurance Company has made encouraging progress despite the Covid19 pandemic.
The company has earned net insurance premium of Rs. 2.51 billion during the review period. The company had earned net insurance premium of Rs. 1.36 billion in the corresponding period of the previous FY. Compared to the same period of the previous fiscal year, the company’s own premium income has increased by 83.90 percent.
Similarly, the company has also increased its net profit during the period. The company, which made a net profit of Rs. 43.3 million in the previous fiscal year, has managed to earn a net profit of Rs. 71 million on last fiscal year 2077/78.
The company has paid Rs. 325 million in net claims during the review period. The company had paid only Rs. 61.6 million in the corresponding period of the previous fiscal year. Compared to the same period of the previous fiscal year, the company’s own claim payment has increased by 420 percent.
The company’s earnings per share stood at Rs. 3.34 during the review period. Net worth per share is Rs 110.86. The company has a life insurance fund of Rs. 2.63 billion.
The company has a paid-up capital of Rs. 2.10 billion and a reserve fund of Rs. 205.2 million. In the corresponding period of the previous fiscal year, the reserve fund of the company was only Rs. 143.2 million.
