Citizen Life’s life insurance fund has exceeded Rs 4 billion
KATHMANDU: NOV. 16 – Citizen Life Insurance Company Limited has released its financial statements for the first quarter of the current fiscal year.
As per the financial statement made public, the amount of life insurance fund of the company has increased by 111.405 and reached 4 billion 245.5 million. The life insurance fund of the company was 2.82 billion in the corresponding period of the previous fiscal year.
Along with the growth of life insurance funds, the company has also been able to expand its business expansion. Out of the total premium collection of Rs. 628 million till mid-August of the last Fiscal Year, it has succeeded to collect Rs. 1.24 billion 3.2 million.
During the review period, the company also increased the size of reserves and funds from 591 million to about 853 million.
In addition, the company has increased its income from investments, securities and other loans by about 51 percent to Rs. 165.1 million.
As the term of investment in the life insurance business has a direct impact on the company’s income, the company has managed to invest about 72.475 out of the total investment and a loan amount of Rs. 6 billion 890 million.
