August 12, 2020 | Investopaper
General Insurance Company (GIC) has delivered a decent growth in performance in the fiscal year 2076/77. As one of the newly established insurance, it has earned a net profit of Rs 5.06 crores. This is almost 40 percent increase from the profit of the previous fiscal year. In the fiscal year 2075/76, General Insurance had generated a net profit of Rs 3.62 crores.
Premium & Claim
General Insurance has reported a growth in total premium income by more than 61 percent in the fiscal year 2076/77. The insurance collected a total premium of Rs 53.61 crores, up from Rs 33.25 crores of the previous fiscal year. Similarly, the net premium has increased by 27 percent to Rs 20.96 crores. However, the net claim paid by the insurance has also grown to Rs 7.69 crores. The outstanding claim at the end of Ashad, 2077 stood at Rs 3.90 crores.
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Paid- Up Capital & Reserve
General Insurance Company has a current paid-up capital of Rs 70 crores. The company is in the process of issuing shares to the general public worth Rs 30 crores. After the IPO, the capital will rise to Rs 1 Arba thereby meeting the minimum capital requirement for non-life insurance. Until Ashad end 2077, the insurance has reserve and surplus of Rs 4.66 crores. Likewise, the insurance fund has grown to Rs 5.1 crores.
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In the fiscal year 2076/77, General Insurance has sold 57,803 policies. This is 85 percent higher than the policies sold in the previous fiscal year (31,217). Likewise, the Insurance has made the total investment of Rs 90.04 crores until Ashad end, 2077. The company has spent Rs 14 crores as management expenses during this period.
Looking into the per share ratios, General Insurance has an Earnings Per Share (EPS) of Rs 7.23. Similarly, per share net-worth of the insurance stood at Rs 114.68.
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General 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. ‘crores’)||70||70||0.00|
|Reserve & Surplus (Rs. ‘crores’)||4.66||2.57||81.32|
|Insurance Fund (Rs. ‘crores’)||5.1||2.86||78.32|
|Total Investments (Rs. ‘crores’)||90.04||83||8.48|
|Total Premium (Rs. ‘crores’)||53.69||33.25||61.47|
|Net Premium (Rs. ‘crores’)||20.96||16.46||27.34|
|Net Claim (Rs. ‘crores’)||7.69||2.26||240.27|
|Total Outstanding Claim (Rs. ‘crores’)||3.9||4.69||-16.84|
|Net Profit (Rs. ‘crores’)||5.06||3.62||39.78|
|Management Expenses (Rs. ‘crores’)||14||9.4||48.94|
|Number Of Policies||57,803||31,217||85.17|
|Earnings Per Share (Rs.)||7.23|
|Networth Per Share (Rs.)||114.68|
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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