Kathmandu: Shikhar Insurance Company’s net profit decreased in the second quarter of the current financial year 2079-80. The insurer earned a profit of Rs. 240.7 million during this period against Rs.243 million net profit in the review period of last FY.
The net insurance premiums income increased by a minor point to Rs. 770.5 million while the total insurance premium income was Rs. 2.65 million. Total insurance premiums increased by 12 percent as compared to the same period of last FY.
Similarly, the number of insurance policies also increased by 2.63 percent to 1,24,000 under the review period. Claim payment increased by 6.5 percent to Rs 424.9 million in Q2 of current FY.
The company has Rs 810 million in its reserve funds. Earning per share was Rs.21. The insurer’s insurance fund has a total of Rs. 1.51 billion.
