IGI Prudential Insurance Limited (IGI) shared its third-quarter financial report for the fiscal year 2080/2081, showing a big increase in profit. Their net profit grew by 181.04% to Rs. 46.76 crores from Rs. 16.63 crores in the same quarter last year.
The company has a paid-up capital of Rs. 3.02 Arba and huge reserves, including Rs. 46.99 crores in other equity, Rs. 7.76 crores in disaster reserves, Rs. 1.65 Arba in special reserves, and Rs. 27.97 crores in retained earnings.
In Q3 FY 2080/81, IGI saw an 88.26% rise in net premiums, reaching Rs. 86.73 Crores compared to last year. They also earned Rs. 49.64 Crores from investments, loans, and other financial activities.
However, there was a 94.83% increase in net claims during the quarter, totaling Rs. 51.19 Crores. IGI increased its investments to Rs. 5.23 Arba.
Key financial numbers show IGI’s strong performance, with an annualized earnings per share (EPS) of Rs. 20.58 and a net worth of Rs. 181.92 per share.
IGI Prudential Insurance’s Third-Quarter Financial Report: Surge in Profit and Strong Performance
| Particulars | Q3 of 2080/81 | Q3 of 2079/80 | Difference |
| Paid Up Capital (Share Capital) | 3,029,334.64 | 3,029,334.64 | 0.00% |
| Special Reserve | 1,654,177.82 | 1,356,304.05 | 21.96% |
| Catastrophe Reserves | 77,673.31 | 62,779.62 | 23.72% |
| Retained Earnings | 279,725.13 | 2,702.53 | 10250.50% |
| Other Equity | 469,951.82 | 440,646.66 | 6.65% |
| Insurance Fund | 4,924,574.07 | 4,736,800.25 | 3.96% |
| Investment | 5,239,801.93 | 4,923,810.45 | 6.42% |
| Net Earned Premium | 867,379.25 | 460,730.95 | 88.26% |
| Income from Investments, Loans, and others | 496,435.52 | 136,683.34 | 263.20% |
| Net Claims Incurred | 511,915.11 | 262,746.93 | 94.83% |
| Commission Expenses | 44,562.64 | 24,697.84 | 80.43% |
| Net Profit of the Year | 467,629.89 | 166,394.37 | 181.04% |
| No of Policies | 183,989.00 | 98,603.00 | 86.60% |
| EPS (In Rs.) | 20.58 | 12.30 | 8.28 |
| Net Worth per Share (In Rs.) | 181.92 | 161.48 | 12.66% |
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