Nepal insurance company releases fourth quarter report

Nepal reinsurance Company has finally made public its financial statements up to the fourth quarter of the last fiscal year. The paid up capital of this company is Rs. 10 billion The company had earned a net profit of Rs 1.1 billion in non-life insurance business and Rs 154.3 million in life insurance till the fourth quarter.The company had earned a net profit of Rs 1.9 billion in non-life and Rs 116.7 million in life insurance in the corresponding period of the previous year. Although the profit towards non-life insurance has decreased, the profit from life insurance has increased. As of mid-July, the company has collected Rs 8.23 from non-life business and Rs 1.20 billion from life business.As of mid-July, the company has a reserve fund of Rs 2.71 billion for non-life business and Rs 638.5 million for life insurance.

The insurance fund has Rs 2.46 billion. Till the fourth quarter, the company’s earnings per share was 11 rupees 69 paisa per annum and net worth per share was 158 rupees 17 paisa