Citizen Life Insurance Company Limited (CLI) has unveiled its financial report for the third quarter of the fiscal year 2080/2081, unveiling an impressive 87.35% surge in net profit. The company’s net profit surged to Rs. 28.13 crores, marking a substantial increase from the Rs. 15.01 crores reported in the corresponding quarter of the previous fiscal year.
CLI demonstrates a formidable financial stance, with a paid-up capital of Rs. 3.93 Arba and a share premium of Rs. 1.55 Arba. Additionally, the company maintains significant reserves, including Rs. 63.17 Crores in retained earnings, Rs. 63.24 Crores in other equity, and Rs. 16.53 Crores in catastrophe reserves.
Moreover, CLI has allocated Rs. 13.07 Arba to its insurance fund and invested Rs. 17.87 Arba across various avenues.
Throughout the review period, CLI witnessed a noteworthy 7.05% increase in net premiums, amounting to Rs. 3.99 Arba in Q3 FY 2080/81 compared to the previous year. The company also displayed financial prowess by generating Rs. 1.15 Arba from income derived from investments, loans, and other financial activities.
However, the quarter also experienced a significant 15.59% rise in net claims, totaling Rs. 3.94 Arba. Conversely, commission expenses saw a decline of 12.58%, reaching Rs. 43.35 Crores.
Key financial metrics further underscore CLI’s performance, with an annualized earnings per share (EPS) of Rs. 9.53. Additionally, the net worth per share stands at Rs. 175.72, while the Price-to-Earnings (P/E) ratio sits at 47.40 times, reflecting positive investor sentiment towards the company’s performance.