LIC Nepal’s profit surge by 59pc

Kathmandu: Life Insurance Corporation Nepal(LICN) has managed to increase its profit by 59.44 percent in the last fiscal year 2077/78. The company has earned a profit of Rs. 199 million in the last fiscal year. The company had earned a profit of Rs. 119.7 million in the previous year.

The company has managed to improve its net premium earnings and total premium earnings by more than 14 percent. The company has earned Rs. 17.04 billion in net premium and Rs. 17.14 billion in total premium.

The company has increased its long-term investment and credit by 8.73 percent during the period. The company has invested Rs. 55.22 billion in loans and secured Rs. 14.15 billion in loans. Credit, investment and other income increased by 33 percent compared to the previous year. Such income is Rs. 6.20 billion. Similarly, the commission of agents has increased by 8 percent. The agents have been paid Rs. 1.68 billion for the commission.

The company has a paid-up capital of Rs. 2.21 billion, a reserve fund of Rs. 648.7 million and a life insurance fund of Rs. 81.06 billion. Earnings per share is Rs. 8.64 and net worth per share is Rs. 141.

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