Nepal Reinsurance Reports Profit of Rs 91.62 Crores in Q3
INVESTOPAPER
Nepal Reinsurance Company Limited (NRIC) has reported a profit of Rs 91.62 crores until the third quarter of the fiscal year 2076/77. The profit is from both the life and non life reinsurance business. In the nine months period, NRIC collected a net premium of Rs 4.94 Arba. This is more than 39 percent higher than the net premium of the previous fiscal year 2075/76.
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However, the net claim has almost doubled as compared to the fiscal year 2075/76. Nepal Reinsurance paid a net claim of Rs 1.84 Arba in the nine months of 2076/77.
The company has a paid up capital of Rs 8.40 Arba with Rs 3.31 Arba in reserve and surplus. Likewise, the insurance fund stands at Rs 1.48 Arba.
Note: The capital has increased to Rs 10 Arba with the recent issue of IPO.
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Until the third quarter of the fiscal year 2076/77, NRIC has made a total investment of Rs 12.30 Arba.
The annualized Earning Per Share (EPS) and per share net worth are at Rs 14.54 and Rs 157.02 respectively.
The quarterly report of Nepal Reinsurance Company Limited is also summarized in the table below:
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Nepal Reinsurance Company Limited (NRIC) Third Quarter Report Summary, FY 2076/77
| HEADINGS | 3rd Qtr, F.Y. 2076/77 | 3rd Qtr, F.Y. 2075/76 | Percent Change |
| Paid-up Capital (Rs. ‘Arba’) | 8.4 | 8.4 | 0.00 |
| Reserve & Surplus (Rs. ‘Arba’) | 3.31 | 2.48 | 33.47 |
| Insurance Fund (Rs. ‘Arba’) | 1.48 | 1.11 | 33.33 |
| Total Investments (Rs. ‘Arba’) | 12.3 | 11.13 | 10.51 |
| Net Premium (Rs. ‘Arba’) | 4.94 | 3.55 | 39.15 |
| Net Claim (Rs. ‘Arba’) | 1.84 | 0.93 | 97.85 |
| Net Profit (Rs. ‘crores’) | 91.62 | 89.14 | 2.78 |
| Earnings Per Share (Rs.) | 14.54 | ||
| Networth Per Share (Rs.) | 157.02 |
Note:
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.
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