August 7, 2020 | Investopaper
Reliance Life Insurance has reported a surge in total premium income by 80 percent in the fiscal year 2076/77. The insurance has collected Rs 1.41 Arba as the premium in the fiscal year 2076/77. In the previous fiscal year, the total premium stood at Rs 75.17 crores.
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With the rise in premium collection, the net profit increased to Rs 4.34 crores, almost 47 percent higher than the previous year. [Note: This profit doesn’t include the additional profit from actuary valuation]. In the previous year 2075/76, Reliance Life Insurance had earned Rs 2.92 crores in net profit.
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The net premium income of the company grew by 87 percent to Rs 1.37 Arba. Similarly, the insurance paid a net claim of Rs 6.16 crores during this period.
Until the Ashad end, 2077, Reliance Life Insurance has made a total investment and loans of Rs 2.39 Arba. On its investment, the company has generated the income of Rs 21.51 crores.
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In the fiscal year 2076/77, the insurance has sold 17,889 policies. This is 14.66 percent higher than the previous year. The Earnings Per Share (EPS) and per share networth stand at Rs 2.95 and Rs 109.52.
Reliance Life Insurance has a paid-up capital of Rs 1.47 Arba. The company is in the process of issuing IPO to the general public worth Rs 63 crores. With the issue of IPO, the capital will rise to Rs 2.10 Arba. Similarly, the reserve and surplus stood at Rs 14.33 crores. Likewise, the company has a life assurance fund of Rs 1.15 Arba.
The report of the Reliance Life Insurance is also summarized in the table below:
Reliance 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’)||1.47||1.47||0.00|
|Reserve & Surplus (Rs. ‘Arba’)||0.14||0.11||27.27|
|Life Assurance Fund (Rs. ‘Arba’)||1.15||0.44||161.36|
|Total Premium (Rs. ‘Arba’)||1.41||0.75||88.00|
|Net Premium (Rs. ‘Arba’)||1.37||0.73||87.67|
|Net Claim (Rs. ‘crores’)||6.16||0.11||5500.00|
|Total Investments & Loans (Rs. ‘Arba’)||2.39||1.7||40.59|
|Income From Investment & Loans (Rs. ‘crores’)||21.51||19.17||12.21|
|Management Expenses (Rs. ‘crores’)||45.96||32.16||42.91|
|Net Profit (Rs. ‘crores’)||4.34||2.92||48.63|
|Number Of Policies||17,889||15,602||14.66|
|Earnings Per Share (Rs.)||2.95|
|Net-worth Per Share (Rs.)||109.52|
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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