Recently Merged Himalayan Life Insurance (HLI) Reports Improvement in Net Profits in Q4; Net Premium at Rs. 14.57 Arba
Tue, Aug 15, 2023 9:07 AM on Financial Analysis, Latest,
Himalayan Life Insurance Limited (HLI) has published its fourth-quarter report for the recently concluded financial year 2079-80 with an impressive increase of 42.51 percent in its Net profit. As of FY 2079-80, the company has made Rs.58.13 crores as opposed to earning only Rs. 40.79 crores until the corresponding quarter of the previous FY 2078-79.
With an increase in the Net profit of the company, the Earnings per Share (EPS) of the company has improved as well to stand at Rs. 7.25, alongside a Net worth per Share of Rs. 118.83, as of FY 2079-80’s end.
The Net premium accumulated by the life insurance company totals Rs. 14.57 Arba as it has declined by 4.46 percent until the last quarter of the recently wrapped up financial year 2079-80.
The number of policies sold by the company has increased by 5.81 percent, totaling 5.78 lakhs until Q4 of FY 2079-80.
HLI maintains Rs. 8.02 Arba in paid-up capital and has Rs. 1.06 Arba in the form of Reserve and Surplus as of FY 2079-80’s end.
Himalayan Life Insurance Limited (HLI) is the merged entity formed after the successful merger between Gurans Life Insurance Company Ltd. (GLICL), Prime Life Insurance Company Limited (PLIC), and Union Life Insurance Company Limited (ULI).
These three life insurance companies jhad merged with each other at a swap ratio of 1:1:1. GLICL's total listed shares were 25,365,630 units, and that of ULI and PLIC were 23,428,550 units and 31,409,657 units respectively making it a total of 80,203,837 unit shares after the merger. This is the biggest merger in the country's life insurance sector.
After a successful merger, the companies commenced the joint transaction in the name of Himalayan Life Insurance Limited on Baisakh 26, 2080.
Major Financial Highlights:
| Particulars (In Rs '000) | Himalayan Life Insurance Limited | ||
|---|---|---|---|
| Q4 2079/80 | Q4 2078/79 | Difference | |
| Paid Up Capital | 8,020,384.00 | 7,013,866.00 | 14.35% |
| Reserve and Surplus | 1,063,544.00 | 2,200,040.00 | -51.66% |
| Life Insurance Fund | 52,123,166.00 | 42,283,576.00 | 23.27% |
| Contingent Fund | 446,540.00 | 374,828.00 | 19.13% |
| Net Premium | 14,576,177.00 | 15,257,416.00 | -4.46% |
| Re-insurance Income | - | - | - |
| Claim Payment (Net) | 5,452,446.00 | 5,726,246.00 | -4.78% |
| Agent Commission | 1,416,525.00 | 1,943,542.00 | -27.12% |
| Net Profit | 581,324.00 | 407,931.00 | 42.51% |
| No of Policies (No.s) | 578953.00 | 630431.00 | -8.17% |
| Earnings per Ratio (EPS) ratio (In Rs.) | 7.25 | 5.82 | 24.62% |
| Net Worth per Share (In Rs.) | 118.83 | - | - |
| PE Ratio (times) | 69.95 | - | - |
| Qtr End Market Price (In Rs.) | 507.00 | - | - |
