NLG Insurance Makes Significant Progress in Q1, Profits up 40%

Kathmandu : NLG Insurance Company has published its financial statement for the first quarter of the current year today. According to the published financial statements, both the company’s profit and earnings per share have increased.

In the period of three months, the company has managed to increase the profit by 40.77 percent. The company which managed to earn a total profit of Rs. 3.65 million in the previous year has managed to earn a profit of Rs.5.14 million this year. With the increase in profit, the company’s earnings per share increased from 11.02 to 14.11.

The business of the company has increased by 15.51 percent and the total insurance fee income has increased from 53 crore 57 lakh to 61888 million. Similarly, the company’s total claim payment has decreased by 49.12 percent. The company paid Rs.809.5 million in claims last year and has paid Rs.41.8 million in three months of the current year. The total claim payment includes the payment received from the reinsurance company.

Likewise, the company’s investment increased by 18.92 percent and reached two billion 73 million. The company’s income from investment increased by 22.43 percent and reached 66 million. In the previous year, the income was 53.9 million.

The paid-up capital of the company has increased from one billion 32 million to one billion 45 million 92 million 75 thousand 791. The financial statement published today shows that the company has succeeded in making significant progress in the three months of the current year.