August 9, 2020 | Investopaper
Citizen Life Insurance, one of the newly established life insurance companies, has shown an aggressive growth in its overall business in the fiscal year 2076/77. The insurance earned a net profit of Rs 20.07 crores. This is more than 30 percent higher than the profit of the previous fiscal year. In FY 2075/76, the profit stood at Rs 15.36 crores.
Note: This profit doesn’t include the additional profit from actuary valuation.
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Premium & Claim
In the fiscal year 2076/77, Citizen Life Insurance has collected a total premium of Rs 1.97 Arba and a net premium of Rs 1.93 Arba. In the previous year, such premium stood at Rs 1.17 Arba and Rs 1.13 Arba respectively. This is the growth of 68 percent and 70 percent. However, the net claim has also surged to 11.03 crores, 197 percent higher than the previous year.
To view the quarterly report, Click Here.
Paid-Up Capital & Reserve
Citizen Life Insurance has a current paid-up capital of Rs 1.75 Arba with reserves of almost Rs 50 crores. The life assurance fund has grown to Rs 1.68 Arba. The company will issue the Initial Public Offering (IPO) worth Rs 75 crores. After the IPO issue, the capital will rise to Rs 2.50 Arba.
Until the Ashad end 2077, the total investments and loans made by the company stood at Rs 3.98 Arba. This is the increase of 46 percent from the previous fiscal year. From this investment and loans, the insurance generated the income of Rs 33.83 crores in the fiscal year 2076/77. As management expenses, the company spent Rs 41.99 crores, up from Rs 31.13 crores in the previous year.
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EPS & Per share net-worth
Based on the un-audited report, Citizen Life Insurance has an Earnings Per Share (EPS) of Rs 11.47. Similarly, the per share net-worth is Rs 128.57.
The report is also summarized in the table below:
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Citizen Life Insurance Report Summary, FY 2076/77
|Headings||4th Qtr, F.Y. 2076/77||4th Qtr, F.Y. 2075/76||Percent Change|
|Paid-up Capital (Rs. ‘Arba’)||1.75||1.75||0.00|
|Reserve & Surplus (Rs. ‘Arba’)||0.5||0.23||117.39|
|Life Assurance Fund (Rs. ‘Arba’)||1.68||0.63||166.67|
|Total Premium (Rs. ‘Arba’)||1.97||1.17||68.38|
|Net Premium (Rs. ‘Arba’)||1.93||1.13||70.80|
|Net Claim (Rs. ‘crores’)||11.03||3.71||197.30|
|Total Investments & Loans (Rs. ‘Arba’)||3.98||2.73||45.79|
|Income From Investment & Loans (Rs. ‘crores’)||33.83||25.86||30.82|
|Management Expenses (Rs. ‘crores’)||41.99||31.13||34.89|
|Net Profit (Rs. ‘crores’)||20.07||15.36||30.66|
|Number Of Policies||24,060||48,786||-50.68|
|Earnings Per Share (Rs.)||11.47|
|Networth Per Share (Rs.)||128.57|
The above figures are based on the unaudited quarterly report published by the respective company. Investors are advised to take other things into consideration along with this report while making investment decisions. The numbers may vary after the final audit.
Note: If you want to see the reports of other companies, Click Here.
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