National insurance occurred loss of Rs. 70 million

Kathmandu March 13- private sector insurance company National Insurance Company's net loss amounted to Rs. 75.4 million in second quarter of current FY which was also loss of Rs. 10.8 million in the corresponding period of last FY.

Company has Rs. 73.2 million in its reserve and Rs. 288.6 million in its insurance fund. Income of the company is in negative balance of Rs. 71.4 million while its expenses totaled up to Rs. 3.9 million. During the period, company has earned Rs. 343.6 million net insurance premium which was Rs. 298.7 million last year.

Company has paid Rs. 431.6 million claim amount to 1,167 claims and issued 13,267 policies during the period.