NRIC's Q4 Report: Total Net Profit Reaches Rs. 33.64 Crores with Segment Variances in Non-life and Life Net Premiums
Fri, Jan 12, 2024 10:51 AM on Financial Analysis, Company Analysis, Latest,
Nepal Reinsurance Company Limited (NRIC) has released its fourth-quarter report for the fiscal year 2079/80
In the non-life segment, NRIC reported a net profit of Rs. 3.91 crore and Rs. 29.72 Crore from life operations, contributing to a total income of Rs. 33.64 Crore. Comparing earnings from the corresponding quarter of the previous fiscal year, NRIC experienced growth of 65.09% in the life segment and 112.32% in the non-life segment.
However, the net premium from non-life decreased by -37.93%, while the life segment saw an increase of 6.52%.
As of the fourth quarter of the last fiscal year 2079/80, NRIC has an Insurance Fund of Rs. 3.47 Arba while NRIC's investments, loans, and other sources generated a total of Rs. 47.51 crores.
The company maintains a paid-up capital of 12.81 Arba and has Rs. 4.14 Arba in reserves and surplus.
Financial indicators include an Earnings per Share (EPS) of Rs. 2.63 and a Net Worth per Share of Rs. 132.37.
Major Financial Highlights:
