Kathmandu: United Insurance Company Limited has published its financial statements for the first quarter of the FY 2078/79. According to the financial statements published by the company, good progress has been seen in all major financial indicators.
The company has earned net insurance premium of Rs. 214 million during the period under review. The company had earned net premium of Rs. 131.3 million in the corresponding period of the previous FY. Compared to the corresponding period of the previous FY, the company’s net premium income increased by 62.95 percent.
The company has an insurance fund of Rs.338.8 million. The company, which has a paid-up capital of Rs.1.2 billion, has a reserve fund of Rs. 117.7 million. In the corresponding period of the previous FY, the company had a reserve fund of only Rs. 79.2 million.
Similarly, the company has also increased its net profit during the period. The company has made a net profit of Rs. 11.9 million during the period under review. The company has managed to earn a net profit of Rs. 16 million in the corresponding period of the previous FY. The company’s profit has increased by 11.69 percent compared to the same period last FY.
The company has paid Rs. 78 million net claim during the review period. The company had paid only Rs. 29.8 million in the same period of the last fiscal year. Compared to the same period of the last FY, the company’s own claim payment has increased by 137 percent.
The company has earned a total premium of Rs. 441 million during the period under review. The company had earned a total premium of Rs. 267.4 million in the corresponding period of the previous FY.
