Kathmandu: Mahalaxmi Life Insurance Company(MLI) has earned net premium of Rs. 679.15 million till the second quarter of current fiscal year 2078/79.
The company’s net premium income has surged by 43.63 percent as compared to the same period last fiscal year.T he company had earned premium of Rs 472.87 million in the corresponding period of the last fiscal year.
Its reserve fund is of Rs. 202.8 million. In the corresponding period of the last FY, the company had a reserve fund of only Rs. 147.4 million. The company has accumulated Rs. 1.73 billion in its life insurance fund. The life fund was Rs. 1.13 billion in during Q2 of last fiscal year.
During this period, the company has accumulated Rs.25.9 million in the catastrophe fund. Its net profit is Rs. 53 million in Q2. The company had managed to earn a net profit of Rs 51.9 million in the same period last year.
Similarly, the company’s net claim has surged by above 8 times as compared to Q2 of last FY. It has paid net claim of Rs. 73.7 million in Q2 of current FY. The company had paid only Rs. 9 million in the same period last fiscal year.