Net profit of Prime life Insurance boosted by 56%

Kathmandu November 15- private sector's life insurance company Prime Life Insurance Company has managed to increased 56% growth in net profit in the first quarter of current FY. In the current FY, Prime life earned 26 million 447 thousands net profit which was Rs. 16 million 926 thousands in the corresponding quarter of last FY.

Prime Life has Rs 480 million paid up capital and Rs. 522.9 million reserve fund. Income of Prime lIfe has increased by 36% to Rs. 43.8 million from 32.1 million of last FY. Similarly, expenses of the company have also increased by 14.15% to Rs. 17.3 million. Company has collected Rs. 341.2 million insurance premium and company has earned Rs. 286.3 million insurance fee. During the period, Company has paid 234 insurance claim of Rs. 55.5 million which was Rs. 45.9 million last year.

Likewise, company has issued 1 million 225 thousands 112 insurance policy which is more than last year.

According to financial report of first quarter, EPS of the company is Rs 21.67, net worth per share is Rs. 207.12 and P/E ratio stands on 61.37 times.