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Net Profit of Surya Life Insurance Company Limited (SLICL) Increases
In the first quarter of the current FY, Surya Life Insurance (SLICL) earned Rs 1.11 billion net premiums, compared to Rs 836.8 million during the corresponding period of the last FY. The net insurance premiums increased by 33.41 percent during the review period. Net profit grew by 11.80 percent to Rs 113.5 million compared to Rs 101.6 million during the previous fiscal year. With a paid-up capital of Rs 2.26 billion, the company has a reserve fund of Rs 977.3 million, a life insurance fund of Rs 11.51 billion, and a catastrophic fund of Rs 163.4 million. The company recorded EPS of Rs 20.08, a net worth per share of Rs 139.26, and a P/E ratio of 40.34.
Have a Look on Surya Life Insurance Company Limited (SLICL)
Introduction About SLICL
Founded under the Company Act 2063 (Regd. No. 1006/063-64) and Insurance Act 2049 as a public limited company, Surya Life Insurance Company Ltd. was granted a license to operate the Life Insurance Business on 2064/12/06(19th March’08). The company’s authorized capital is Rs 300 crore, with its paid up capital being Rs 255.03 crores. A reinsurance arrangement has been made with Nepal Re-Insurance Co.Ltd. The promoter’s share is 51%, and the public’s share is 49%.
- To create resources and means for economic development.
- To introduce and implement various attractive payback life insurance plans for citizens of Nepal to secure life and to uplift in livelihoods
To establish socially and financially as one of the most viable institution.
Company’s Goal and Objective
The main objective of the company is to assist in the economic development of the country by providing all kinds of life insurance related services by conducting life insurance business under the Insurance Act and Insurance Regulations.