National Life Insurance Company (NLICL) has stated rise in net profit by whooping 100.94%in the second quarter of the FY 2074/75.
As per the unaudited report of the second quarter, the insurance company reported net profit of Rs 17.08 crore in the Q2 of the fiscal year 2074/75, up from Rs 8.50 crore of the corresponding fiscal year.
The company’s earnings from premium have rose to Rs 2.45 arba from the corresponding year’s Rs 2 arba. The company’s insurance fund stands at Rs 19.26 arba which was Rs 15.78 arba in the corresponding quarter of the last fiscal year.
The paid up capital of the insurance company is Rs 1.65 arba with Rs 39.20 crore in the reserve. Currently, National Life Insurance is seeking approval from Securities Board of Nepal (SEBON) for the issuance of 10:6 (60%) right shares. After the issuance of 60% right share, its paid up capital will reach Rs 2.64 arba and met the capital requirement of Rs 2 arba as per Insurance Board.
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