Kathmandu:The life insurance fund of IME Life Insurance Company has increased by 103 percent.In the last FY 2077/78, Rs. 2.97 billion has been deposited in the life insurance fund of the company. Net insurance premiums and total premiums have improved by more than 99 percent.
Net premium income increased by 99.31 percent to Rs.2.73 billion and total premium income increased by 99.47 percent to Rs.2.79 billion.
The company has also increased its long-term investment and credit by 76 percent to Rs.3.25 billion. The insured has taken a loan of Rs.245.1 million by pledging his insurance policy. Such loans have increased by 71 percent compared to the previous FY.
Net profit, on the other hand, improved slightly. The company has earned a net profit of Rs.134 million during the period. Investment loans and other income increased by 62 percent to Rs.235.1 million.
The commission received by agents has increased by 104 percent. IME agents have received a commission of Rs.519.7 million last year alone. The company, which is in the process of issuing primary shares, has a net worth of Rs.137 per share. At present, the paid up capital is Rs.1.40 billion and Rs. 477.7 million has been deposited in the reserve fund.