April 29, 2019 | Investopaper
Prime Life Insurance is the first insurance company to release the third quarter report for the fiscal year 2075/76. The net profit rose by 14% in the third quarter compared to the same quarter the previous year.
For the year, the net profit was Rs. 16.37 crores. In the third quarter of last year, the microfinance made a profit of Rs. 14.32 crores.
The total paid-up capital is Rs. 1.78 Arab. Reserves and surplus are both at Rs. 111 crores. Until the third quarter, the insurer had earned a net premium of Rs. 1.87 Arab. Similarly, the net assertion was Rs. 27.31 crores until the third quarter.
Prime Life Insurance also needs to raise Rs. 22 crores in paid-up capital to fulfill the life insurance industry’s minimum capital requirement of Rs. 200 crores.
Prime Life Insurance, 3rd Quarter, 2075/76 Financial Highlights
|Headings||3rd Qtr, 2075/76||3rd Qtr, 2074/75||Percent Change|
|Paid up capital (Rs. ‘crores’)||178.48||61.02||192.49|
|Reserve & Surplus (Rs. ‘crores’)||111.10||94.82||17.17|
|Life Insurance Fund (Rs. ‘Arab’)||8.15||5.98||36.29|
|Net Premium (Rs. ‘Arab’)||1.87||1.46||28.08|
|Savings (Rs. ‘Arab’)||1.66||1.31||26.72|
|Net Claim (Rs. ‘crores’)||27.31||18.78||45.42|
|Total Investments (Rs. ‘Arab’)||10.25||7.23||41.77|
|Net Profit (Rs. ‘Crores’)||16.37||14.32||14.32|
|Earnings Per Share (Rs.)||12.23||31.29||-60.91|
|Net-worth Per Share (Rs.)||168.33||255.39||-34.09|