IME Life Insurance Fund Closes to Rs 20 Billion, What Are Other Indicators?
लगानी न्यूज
Kathmandu. IME Life Insurance Company has released its financial statements for the first quarter of the current financial year. The company has earned a net profit of Rs 14.12 crore in the first quarter of the current financial year. The company’s profit decreased by 10.78 percent compared to the same period of the previous financial year. The company had posted a net profit of Rs 15.83 crore in the same period of the previous financial year.
The life insurance fund of the company has also increased by 40.8 TAG_OPEN_div_22 3 percent. The life insurance fund has increased to Rs 19.97 billion in the same period of the current fiscal from Rs 14.18 billion in the first quarter of the previous financial year.
Similarly, the total income of the company has also increased by 29.34 percent. Total income increased to Rs 2.56 billion in the review period of the current fiscal from Rs 1.98 billion in the first quarter of the previous financial year.TAG_OPEN_div_20
During the review period, the total number of insurance policies of the company reached 5,2 TAG_OPEN_div_18 3,187. In the same period of the last financial year, the company had 4,68,464 policies. Accordingly, the number of insurance policies of the company increased by 11.68 percent.
The company’TAG_OPEN_div_16 s retained earnings also increased by 14.45 percent to Rs 81.64 crore. In the first quarter of the last financial year, such amount was Rs 71.33 crore. Similarly, the reserve of Rs 32.88 crore in the disaster fund is Rs 2.88 crore, which is 2.5 percent more than the same period of the previous year. This is an increase of 39 percent. The paid-up capital of the company has remained stable at Rs 5 billion.
Similarly, the company paid a total of Rs TAG_OPEN_div_14 37.12 crore during the review period. Such payments were Rs 26.35 crore in the same period of the previous financial year. Accordingly, claim payment increased by 40.84 per cent. On the other hand, income from loans and investments declined by 12.90 per cent to Rs 33.18 crore. The company’s commission expenses increased by 41.28 per cent to Rs 18.56 crore.
However, despite a significant increase in business expansion and revenue, the net profit of the company has contracted somewhat. The company has earned a net profit of Rs 14.12 crore in the first quarter of the current financial year, compared to Rs 15.83 crore in the first quarter of the previous financial year. This is 10.78 percent less than the previous year. The company’s earnings per share also declined from Rs 12.67 to Rs 11.30. The net worth per share has been maintained at Rs 139.18 per share.TAG_OPEN_div_12
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