Kathmandu: Shikhar Insurance Company(SICL) has published unaudited financial statements for the fourth quarter of the financial year 2078/79. According to the financial statements, encouraging progress has been seen in most of the financial indicators.
The reserve fund has a reserve of Rs.709.7 million. During the same period of the previous financial year, the reserve fund of the company was Rs. 500.9 million. Compared to the previous financial year, the reserve fund of the company has increased. The paid up capital of the company is Rs.2.28 billion which is close to the new regulatory capital requirement.
Similarly, during this period, the insurance fund of the company is Rs. 1.4116 billion. In the same period of the previous financial year, the insurance fund of the company was Rs. 1.21 billion only. During this period, the company has earned a net profit of Rs.401.4 million. In the previous financial year, the company had earned a profit of Rs. 311.3 million. The profit of the company has increased by 28 percent.
The company has earned Rs.1.39 billion 10 million in net insurance fee while it was Rs. 1.173 billion in previous financial year. The company’s net insurance fee earnings are 18 percent higher.
During this period, the company has paid Rs. 975 million in net claims while Rs. 892.5 millions were paid during previous fiscal year.
During the period under review, the earnings per share of the company was Rs.21.08 paise. The net worth per share is Rs.254.04 paise.