Guardian Micro Life Insurance Company has posted a notable improvement in its financial performance during the first six months of the current fiscal year.
According to the unaudited financial statement published up to mid-January (Poush-end), the company earned a net profit of NPR 13.25 million during the review period. This reflects a 14.41 percent increase compared to the same period of the previous fiscal year 2020/21, when the company had recorded a net profit of NPR 11.58 million.
The company’s insurance premium income witnessed a sharp rise. By mid-January, Guardian Micro Life collected net insurance premiums worth NPR 235.35 million, almost double (up by 98.19 percent) compared to NPR 118.75 million in the corresponding period last year.
Similarly, total insurance premium income surged by 119.12 percent to reach NPR 275.07 million, up from NPR 125.51 million in the previous year.
The life insurance fund also expanded significantly. From NPR 86.24 million in mid-January last year, the fund grew by more than 353 percent to NPR 391.04 million during the review period of the current fiscal year.
The company, which has a paid-up capital of NPR 750 million, reported reserves of NPR 3.91 million, retained earnings of NPR 27.68 million, and other equity amounting to NPR 20.21 million.
During the review period, the annualized earnings per share (EPS) stood at NPR 3.53, while the net worth per share reached NPR 104.23. The growth in profit, premium income, and life fund indicates strengthening financial performance and rising business momentum for Guardian Micro Life Insurance Company.
