United Insurance Company (UIC) Calls AGM; How Has the Company Been Performing?
Sun, Jul 25, 2021 10:49 AM on Latest, AGM/Special AGM, Book Closure,
United Insurance Company Limited has called its 27th AGM on 31st Shrawan, 2078. The meeting will be held virtually, starting at 11 am that day.
1) Endorsement of the annual report for the fiscal year 2076/77 prepared by the board of directors.
2) Endorsement of the report for the fiscal year 2076/77 prepared by the auditor.
3) Appointment of auditor for the fiscal year 2077/78 and approval of their compensation.
Shrawan 20 is the book closure date. Thus, investors maintained before that day are eligible to attend the AGM.
United Insurance has entered into the one billion club by collecting an insurance premium of Rs 1 Arba by the end of the fiscal year 2077-78. The company has published its third-quarter report of FY 2077/2078 with a massive increase in Net Profit by 334.93%. The company’s profit has increased from Rs. 1.21 crores to Rs. 5.27 crores in this quarter.
As per the unaudited report for the third quarter, UIC has a paid-up capital of Rs. 1.02 Arba with a reserve and surplus of Rs. 11.18 crores. The company has Rs. 33.37 crores in the insurance fund. The net earnings from the premium increased by 53.12% to Rs. 37.85 crores till Q3, 2077/2078 from Rs. 24.71 crores in the corresponding quarter of the last fiscal year. The company has earned Rs. 4.43 crores from investments.
The company’s Net claim payment increased by 43.68% to Rs. 14.86 crores in Q3 of FY 2077/2078. Till Q3, the company has issued 108,108 policies. United Insurance’s EPS stands at Rs. 6.84 whereas Net worth per share stands at Rs. 144.01 in the third quarter of the fiscal year 2077/2078. The company traded at a P/B multiple of 4.98 times.
