Kathmandu. Himalayan Reinsurance Company Limited in the current fiscal year 2082. The company has made public the unrevised financial statements for the third quarter (July-March) of 83 B.S.
According to the financial report, the company has incurred a loss of Rs 4.43 crore till mid-April of the current FY. Last year, 2081. The company had posted a net profit of Rs 98.93 crore in the same period.
The company has collected Rs 3.12 billion in share premium till mid-April of the current fiscal year. The share premium stood at Rs 3.12 billion as of mid-July last year.
The company has a share capital of Rs 10.86 billion, special reserve of Rs 2.01 billion, catastrophe fund of Rs 203.2 million, retained earnings of Rs 69.16 crore and other equity of Rs 58.34 crore. As of mid-July of the previous year, the company had a negative amount of Rs 1.96 billion in special reserve, Rs 198.00 million in catastrophe fund, Rs 82.76 crore in retained earnings and Rs 18.48 crore in other equities.
In the first half of the current FY, the company earned Rs 4.31 billion in total insurance premiums. The company had earned a net profit of Rs 4.46 billion in the same period last year. The company’s total premium income decreased by 3.40 percent compared to the previous year.
The company earned Rs 4.03 billion in net insurance premium in the review period. The company had posted a net profit of Rs 4.18 billion in the same period last year. In the review year, the net premium has decreased by 3.38 percent compared to the previous year.
The company’s earnings per share (EPS) is negative at Rs 0.54. The EPS was Rs. 12.68 a year ago. The net worth per share of the company is Rs 150.18.
The CIAA had carried out the investigation on the Himalayan Ree under the direction of the Department of Money Laundering. Following the completion of the investigation, NEA decided to take regulatory action on May 29 and suspended the Himalayan Re reinsurance business until mid-July.
