Kathmandu: Ajod Insurance, NLG Insurance and United Insurance companies have been able to increase their profits in the last financial year 2077/78.
Ajod Insurance Company has managed to earn a net profit of Rs. 95.2 million during the period. The company had made a net profit of Rs 63.6 million in the corresponding period of the previous FY. The company’s net profit has increased by 49.74 percent compared to the same period of the previous FY.
The company, which has a paid-up capital of Rs. 1 billion, has a reserve fund of Rs. 98 million. The reserve fund of the company was Rs. 48 million in the corresponding period of the previous FY. The company has an insurance fund of Rs. 110 million. In the corresponding period of the previous FY, the insurance fund of the company was Rs. 63.2 million.
During the review period, the company’s catastrophe reserve fund stood at Rs. 10 million as against Rs. 5.3 million in the corresponding period of the previous FY
NLG Insurance Company has managed to increase its profit by 25.48 percent in the last FY 2077/78. The company has earned a profit of Rs. 252.2 million last year. It was Rs.201 million in the previous FY.
The company has also managed to increase its total premium income by 19.98 percent. The company has earned a total premium of Rs 2.8 billion during the period. Similarly, such revenue was Rs 1.73 billion last year. Similarly, the total claim payment during the same period was Rs. 1.34 billion. In the previous year, it was only Rs. 898 million. The net claim payment is only Rs. 503.8 million.
United Insurance Company has managed to increase its profit by 4.32 times in the last FY 2077/78. The company has earned a profit of Rs 75.2 million during the period. It was Rs. 1.74 million in the corresponding period of the previous FY.
It has managed to earn Rs. 1.5 billion by increasing the total premium income by 20 percent. The company had earned Rs.
878.6 million in insurance premiums in the previous fiscal year. The company has paid a claim of Rs. 181.5 million.
It’s paid-up capital is Rs 1.2 billion and Rs. 116 million has been allocated for the reserve fund. Earnings per share is Rs.7 and net worth per share is Rs. 143.
