Kathmandu: Mahalakshmi Life Insurance Company’s net insurance premium income has surged by 39.24 percent during the first quarter of the current FY 2078/79.
It has earned Rs. 325.2 million net insurance premium during the first quarter of the current FY 078/79. The company had earned Rs. 233.5 million in the same period last fiscal year.
According to the unaudited financial statement, the company has a reserve fund of Rs 20.89 crore. In the corresponding period of the previous fiscal year, the company had a reserve fund of only Rs. 104.4 million. The company’s life insurance fund has accumulated Rs 1.53 billion. The company’s life insurance fund was Rs. 968.1 million in the corresponding period of the last fiscal year.
During this period, the company has a total catastrophe fund of Rs. 23.2 million. It has earned a net profit of Rs 25.4 million during the period.The company earned a net profit of Rs. 24.2 million in the same period last fiscal year.
Similarly, the company has paid net claim of Rs. 46 million during this period. The company had paid Rs 1.9 million in the same period last FY.
The financial statements of life insurance companies, including profits, may be altered during the audit and actuarial valuation.