Sagarmatha Insurance Collects Rs 85.07 Crores In Premium [Q1 Report]
November 16, 2022 | Investopaper
Sagarmatha Insurance Company Limited (SIC), one of the leading non-life insurance companies of Nepal, has reported a fall in profit by almost 47 percent in the first quarter of the current fiscal year 2079/80. The insurance earned a net profit of Rs. 3.25 crores until the first quarter, which stood at Rs. 6.17 crores in the corresponding period of the previous year.
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In the 3 months period, Sagarmatha insurance has collected a total premium of Rs. 85.07 crores, a drop of 6 percent from the same period last year. The net premium stood at Rs. 40.42 crores. During this period, the net claim has increased to Rs. 23.33 crores.
As of Ashwin’s end 2079 BS, Sagarmatha insurance has a paid-up capital of Rs 133.36 crores with Rs 44.70 crores in reserve and surplus. Likewise, the insurance fund stands at Rs. 123.88 crores.
SIC has investment portfolio (short-term & long-term investments) of Rs. 352.1 crores. In the three months period, the company has sold 41,664 policies which is 3 percent lower than the same period of the previous year.
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The unaudited first-quarter report of Sagarmatha Insurance is summarized in the table below:
Sagarmatha Insurance (SIC): Q1 Report Summary, FY 2079/80
| Financial Indicators | Q1, F.Y. 2079/80 | Q1, F.Y. 2078/79 | Percent Change |
| Paid-up Capital (Rs. ‘crores’) | 133.36 | 111.13 | 20.00 |
| Reserve & Surplus (Rs. ‘crores’) | 44.7 | 50.62 | -11.69 |
| Insurance Fund (Rs. ‘crores’) | 123.88 | 108.13 | 14.57 |
| Total Investments & Loans (Rs. ‘crores’) | 352.1 | 352.11 | 0.00 |
| Total Premium (Rs. ‘crores’) | 85.07 | 90.67 | -6.18 |
| Net Premium (Rs. ‘crores’) | 40.42 | 39.42 | 2.54 |
| Net Claim (Rs. ‘crores’) | 23.33 | 17.72 | 31.66 |
| Total Outstanding Claim (Rs. ‘crores’) | 157.65 | 205.51 | -23.29 |
| Net Profit (Rs. ‘crores’) | 3.25 | 6.17 | -47.33 |
| Management Expenses (Rs. ‘crores’) | 8.92 | 8.75 | 1.94 |
| Number Of Policies | 41,664 | 42,989 | -3.08 |
| Earnings Per Share (Rs.) | 9.76 | ||
| Networth Per Share (Rs.) | 235.44 | ||
| Market Price Per Share (Rs.) [Ashwin end, 2079 BS] | 870 | ||
| P/E Ratio | 89.14 |
Source: Unaudited Q1 Report, FY 2079/80
Note:
The above figures are based on the un-audited 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.
The share price, as well as the P/E ratio, is based on the data of Ashwin’s end, 2079 BS. At current, the numbers may vary.
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