Metlife Insurance gains meager growth of 1.33% in the third quarter; Reliable Nepal Life Insurance earns Rs 8.46 crore

Sun, May 13, 2018 4:03 AM on Financial Analysis, Latest, Stock Market,

MetLife American Life Insurance Company has stated rise in net profit by 1.33% in the third quarter of the FY 2074/75.

As per the unaudited report for the third quarter, the insurance company reported net profit of Rs 18.89 crore in Q3 of fiscal year 2074/75, up from Rs 18.64 crore of the corresponding fiscal year.

The company’s earnings from premium rose to Rs 2.53 arba in Q3 from Rs 2.20 arba in the corresponding quarter.The reserve fund of the company has also inclined to Rs 1.47 arba from the corresponding year’s 1.06 arba.

The company’s life insurance fund has also increased to Rs 14.57 arba from Rs 12.62 arba in the corresponding quarter of the previous year.

Metlife American Insurance Company will be issuing its IPO or FPO for the general public in the coming days.

Likewise, Reliable Nepal Life Insurance Limited (RENLICL) has also published its third quarterly financial for the fiscal year 2074/75.

The net profit of the company is Rs 8.46 crore in the Q3 of the current fiscal year which was Rs 6.31 crore in the Q2 of the current fiscal year.

The company’s earnings from premium is reported as Rs 15.20 crore in the current quarter which has increased from previous quarter’s 5.99 crore. Its life insurance fund stands at Rs 2.12 crore which was Rs 83.43 lakh in the previous quarter of the current fiscal year.

The paid up capital stands at Rs 1.40 arba with Rs 8.95 crore in the reserve.