Citizen life insurance company in profit
By Rabindra Dhungel, Kathmandu, Fri, 10 Aug 2020 . Citizen Life Insurance Company Limited has made public its financial statements for the fourth quarter of the last fiscal year 2076/77. According to the said details, the company has managed to earn a net profit of Rs. The profit is 30.67 percent higher than the previous fiscal year.
The company had earned a net profit of Rs 153.66 million in the same period last year. Similarly, the company has earned net insurance premium of Rs 1.92 billion in the fourth quarter. This amount is 71.10 percent more than the previous fiscal year.
Last year, the company earned Rs 1.12 billion. The size of its life insurance fund has also increased by 164.44 percent to Rs 1.67 billion. In the same period last year, the company’s life insurance fund was Rs 634.84 million. Similarly, the paid up capital of the company is Rs 1.75 billion and the reserve fund is Rs 496.1 million.
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