NB insurance earned 10.6 million net profits in first quarter of current FY

Kathmandu January 7- private sector general insurance company NB insurance has earned net profit of Rs. 10.6 million in the current FY which was Rs. 2.5 million net loss during the corresponding period of last FY.

With the paid up capital of Rs. 150 million, company has kept Rs. 59.7 million in reserve fund. Company has increased its income by 6 times to Rs. 12 million 416 thousands while it has decreased its expenses by 61.23% to Rs. 1 million 643 thousands.

Company has earned Rs. 28.3 million insurance premium while it earned Rs. 2.6 million in the last quarter of previous FY. Company has paid claims of Rs. 9 million of 99 claims during this period which was Rs. 6.5 million during the last quarter of previous FY. During this period, company has issued 2998 insurance policies.

Company has EPS of Rs. 28.46 and Net worth per share of Rs. 16.63. Similarly, total assets per share is Rs. 254.04.