Premier Insurance reserve & surplus remain strong; Higher bonus shares expected
February 14, 2019 | Investopaper
Premier Insurance has published its unaudited second-quarter report of F.Y. 2075/76 today. The unaudited report shows that the net profit has increased by 8.24% to Rs. 5.89 crores in the second quarter. The net profit as of the 2nd quarter previous year stood at Rs. 5.41 crores.
The net premium till the second quarter is Rs. 41.60 crores. The net claim remains at Rs. 24.51 crores. The total premium collection is Rs. 79.54 crores, a growth of a mere 2.65% from Rs. 77.49 crores corresponding quarter previous year. The total outstanding claim remains at Rs. 96.97 crores.
The insurance has paid up capital of Rs. 58.40 crores, a reserve of Rs. 60.11 crores and insurance fund of Rs. 43.01 crores. The Annualized EPS is Rs. 20.16 and net worth per share is Rs. 283.24 as of the unaudited second quarter.
Premier insurance has to increase its capital by 41.60 crores in order to meet the paid up capital requirement of Rs. 1 Arab. Higher bonus shares can be expected due to high reserve from profit and FPO premium.
