Prime Life Insurance Third Quarter Performance

April 29, 2019 | Investopaper

Prime Life Insurance becomes the first insurance to publish the third quarter report of F.Y. 2075/76. In the third quarter, the net profit increased by 14 percent from the corresponding quarter of the previous year.

The net profit stands at Rs. 16.37 crores for this quarter. Last year, the microfinance made a profit of Rs. 14.32 crores in the third quarter.

The paid-up capital stands at Rs. 1.78 Arab. Similarly, reserve & surplus is at Rs. 111 crores. The insurance has collected the net premium of Rs. 1.87 Arab until the third quarter. Likewise, the net claim until the third quarter stood at Rs. 27.31 crores.

The Annualised Earnings Per Share (EPS) declined to Rs. 12.23 from Rs. 31.29 last year. This is due to the huge increment in the capital by more than 192 percent. The net worth per share is Rs. 168.33.

Prime Life Insurance still has to increase the paid-up capital by Rs. 22 crores to meet the minimum capital requirement of Rs. 200 crores for the life insurance companies.

Financial Highlights: Prime Life Insurance, 3rd Quarter, 2075/76

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


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