Kathmandu: Himalayan Reinsurance Company Limited (Himalayan Re) has earned a net profit of Rs. 278.2 million in the last financial year 2078-79. According to the unaudited financial statement of the 4th quarter of last financial year, such profit was Rs. 196.4 million in the third quarter of last FY.
In the last financial year, the company had earned Rs. 868.7 million total insurance fees. The company had earned Rs. 525.98 million total insurance fees during third quarter of last FY.
Himalayan Re has made an investment of Rs. 5.24 billion in the fixed deposit and debentures of various commercial banks. It’s income from investment and credit was Rs.531.88 million. It has paid Rs. 120.40 million against income tax to the Government of Nepal. The employees of the company are expected to receive Rs. 44.295 million against employees bonus.
The company has a reserve fund of Rs. 125.1 million while the paid-up capital is Rs. 7 billion. It has Rs. 148.1 million in the insurance fund and Rs.14.43 million in the catastrophe reserve.