Kathmandu: Nepal Reinsurance Company (NRIC) has made a net profit of Rs. 602.1 million from non-life business in the third quarter of last fiscal year.
It has incurred a loss of Rs. 29.7 million from life insurance business. Up to the third quarter of the previous financial year 77/78, the company made a net profit of Rs. 824.7 million towards non-life insurance and made a net profit of Rs.101 million towards life insurance.
Up to the third quarter of last year, Nepal Reinsurance Company has earned Rs. 8.78 billion in total insurance fees. The company, which has earned Rs. 6.81 billion in total insurance fees till the third quarter of the previous year, has managed to increase its business by about 29 percent within a year.
In a company with a paid-up capital of Rs. 11.65 billion crores, the non-life fund has Rs. 3.91 billion crores accumulated in the fund, but it has managed to accumulate Rs. 59.5 million in the life insurance sector.Similarly, there is Rs.2.54 billion in the insurance fund towards non-life.
According to the published data, the company’s annual income per share is Rs. 6.55 paisa while the book value is Rs. 160.51 paisa.