Guardian Micro Life Insurance Sees Significant Profit Growth

Guardian Micro Life Insurance Limited (GMLI) has published its unaudited financial statement for the third quarter of the current fiscal year, showing a substantial increase in profits. As of the end of Chait, the company earned a net profit of NPR 2.74 crore, reflecting a 3,812.84% increase compared to the same period last year, when the net profit was only NPR 701,000.

The company’s total revenue increased by 370.66%, while earned premiums rose by 990.44%. Claims payments surged by 1,211.13%, and total expenses grew by 325.57%. The earnings per share also rose to NPR 4.88, while the net worth per share stood at NPR 102.93.

The company has a paid-up capital of NPR 75 crore, with its catastrophe reserve at NPR 2.93 million, retained earnings at NPR 19 million, and other equity at NPR 3.26 million.