प्रभु इन्स्योरेन्सको चौथो त्रैमासिक वित्तीय विवरणPrabhu Insurance Fourth Quarter Financial Statement

Quarterly Financial Statement For 4th Quarter, F.Y.2080.81(B.S)

CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION

As on Quarter end Ashadh 2081

Fig in NPR

Particulars Unaudited Audited

At the end of this Quarter At the end of Immediate Previous Year

Assets:
Goodwill & Intangible Assets	385,945	58,936
Property and Equipment	106,395,366	117,624,880
Investment Properties	20,816,669	21,439,042
Deferred Tax Assets	20,425,972	-
Investment in Subsidiaries	-	-
Investment in Associates	-	-
Investments	1,288,608,275	1,462,386,630
Loans	-	-
Reinsurance Assets	2,529,912,891	2,031,915,823
Current Tax Assets	-	-
Insurance Receivables	1,243,167,716	1,026,760,780
Other Assets	512,481,653	501,763,454
Other Financial Assets	358,242,353	317,819,424
Cash and Cash Equivalent	1,356,723,272	1,249,670,891
Total Assets	7,437,160,112	6,729,439,859
Equity:
Share Capital	1,848,939,085	1,441,488,067
Share Application Money Pending Allotment	-	-
Share Premium	-	-
Special Reserves	1,347,604,521	1,224,382,848
Catastrophe Reserves	113,597,336	101,275,169
Retained Earnings	104,151,540	429,354,936
Other Equity	154,190,836	194,841,650
Total Equity	3,568,483,319	3,391,342,670
Liabilities:
Provisions	158,466,713	117,937,150
Gross Insurance Contract Liabilities	3,164,006,030	2,625,576,650
Deferred Tax Liabilities	2,636,979	2,636,979
Insurance Payable	381,941,987	397,366,073
Current Tax Liabilities	13,845,352	28,293,924
Borrowings	-	-
Other Liabilities	112,962,141	125,551,726
Other Financial Liabilities	34,817,590	40,734,688
Total Liabilities	3,868,676,793	3,338,097,190
Total Equity and Liabilities	7,437,160,112	6,729,439,859

OTHER DETAILS

Particulars Current Year Previous Year

Upto this Quarter (YTD) Upto this Quarter (YTD)

1. Total Issued Policy Count	114,613	123,873
2. Total Renewed Policy Count	46,885	39,837
3. Total Claims Paid Count	10,567	10,074
4. Outstanding Claims Count	1,970	1,662
5. Gross Outstanding Claim Including IBNR and IBNER(Amount)	2,059,332,848	1,814,705,189
6. Net Outstanding Claim Including IBNR and IBNER(Amount)	198,988,487	199,757,643
7. Margin Over Best Estimate( MOBE)	31,612,555	36,828,544
8. Unearned Premium Reserve (Amount)	1,011,411,292	736,691,949
9. Unexpired Risk Reserve ((Amount)	25,584,690	14,318,648
10. Earthquake Premium Reserve (Amount)	36,064,645	23,032,320
11. Long term Investment (Amount)	616,658,275	552,648,706
12. Short term Investment (Amount)	671,950,000	879,823,049
13. Gross Premium Written (Amount)	2,022,822,583	1,869,313,444
14. Investment in Cost (Amount)	1,071,996,167	1,156,317,035
15. Solvency Margin Ratio	5.48	5.48

Note:

1. The above financial statements are prepared in accordance with Nepal Financial Reporting Standards(NFRS)

2. Figures Presented above may change after the statutory audit is completed.

3. The figures of the previous quarters have been restated as per requirements(Including NAS 33)

4. Detailed Interim Financial Statement of the company has been published on the website.(https://www.prabhuinsurance.com)

Disclosure as per

1. Solvency Ratio related disclosure: The Solvency ratio of the company is 5.48 (Based on Actuary Valuation as on 16-07-2024)
2. Reinsurance related disclosure: The Company has made adequate reinsurance agreement to cover the risk from the class of its business.
3. Details regarding legal proceeding: No any such legal case against the company arising from its activities other than normal business operations.
4. Corporate Governance: The company follows all the legal and regulatory compliance to maintain high standard of corporate governance.
5. Regulatory limit on expenses ratio: The expense ratio of the company is within the expense ratio prescribed by Nepal Insurance Authority.
6. Any other disclosure as deemed relevant : N/A

ADDITIONAL DISCLOSURE AS PER SECURITIES REGISTRATION AND ISSUE REGULATION 2073 (SUB RULE(1) OF RULE 26, ANNEXURE 14

FOURTH QUARTER OF Financial YEAR 2080/81

1. Financial Statements

a. The statement of financial position and statement of Profit or Loss (Unaudited) has been published along with this report as per the Nepal Financial Reporting Standards( NFRS)

b. Key Financial indicators and ratios:

Key Financial Ratios This Quarter End

Earnings Per Share (EPS) (NPR) 13.33

Price Earnings Ratio 50.12

Net worth Per Share (NPR) 193.00

Total Assets Per Share (NPR) 402.24

2. Management Analysis

a) Details relating to the change in the company's premium, income and liquidity in the quarter and its main reason:

The company during 4th quarter has collected NPR 202.28 crores gross premium and have earned 24.64 crore net profit during the period. The company paid Gross claims of Rs. 50.12 crores and total investment of Rs. 128.86 crores till the end of 4th quarter of current fiscal year. Liquidity has been maintained at sufficient level to meet the current operation of the company.

b) Management's analytical details regarding future business plan:

Besides various financial constraints in Nepalese Financial Market, management is satisfied with current financial performance.