SANIMA RELIANCE LIFE INSURANCE LIMITED
Quarterly Financial Results for Fourth Quarter, F.Y. 2082/83
CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION
Fig in NPR.
| Particulars Unaudited At the end of this Quarter Audited At the end of | Immediate | Previous Year |
|---|---|---|
| Goodwill & Intangible Assets | 36,834,758 | 36,639,039 |
| Property and Equipment | 348,468,231 | 421,721,235 |
| Investment Properties | - | - |
| Deferred Tax Assets | 7,830,130 | 15,432,624 |
| Investment in Subsidiaries | - | - |
| Investment in Associates | - | - |
| Investments | 27,775,264,625 | 21,255,552,938 |
| Loans | 1,983,318,185 | 1,627,236,021 |
| Reinsurance Assets | 5,107,633 | 6,161,453 |
| Current Tax Assets | 730,551,256 | 605,562,033 |
| Insurance Receivables | - | 216,208,438 |
| Other Assets | 40,101,730 | 537,555,037 |
| Other Financial Assets | 258,305,457 | 380,036,959 |
| Cash and Cash Equivalent | 1,082,878,673 | 1,471,215,979 |
| Total Assets | 32,268,660,678 | 26,573,321,755 |
| Equity: | ||
| Share Capital | 5,014,924,056 | 5,014,924,056 |
| Share Application Money Pending Allotment | - | - |
| Share Premium | - | - |
| Catastrophe Reserves | 185,925,003 | 147,896,621 |
| Retained Earnings | 359,883,814 | 532,770,188 |
| Other Equity | 86,898,886 | 78,294,812 |
| Total Equity | 5,647,631,758 | 5,773,885,677 |
| Liabilities: | ||
| Provisions | 38,291,009 | 38,291,009 |
| Gross Insurance Contract Liabilities | 25,555,987,859 | 19,628,671,251 |
| Deferred Tax Liabilities | - | - |
| Insurance Payables | 20,024,222 | 57,603 |
| Current Tax Liabilities | - | - |
| Borrowings | - | - |
| Other Liabilities | 543,556,140 | 678,615,896 |
| Other Financial Liabilities | 463,169,689 | 453,800,319 |
| Total Liabilities | 26,621,028,920 | 20,799,436,078 |
| Total Equity and Liabilities | 32,268,660,678 | 26,573,321,755 |
CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSS
Fig in NPR.
Particulars Current Year This Quarter Current Year Up to this Quarter (YTD) Corresponding Previous Year This Quarter Corresponding Previous Year Up to this Quarter (YTD)
| Income: | ||||
| Gross Earned Premiums | 2,594,364,256 | 8,090,603,908 | 2,206,854,017 | 7,005,368,371 |
| Premiums Ceded | (57,905,863) | (236,535,359) | (97,847,069) | (244,723,555) |
| Net Earned Premiums | 2,536,458,393 | 7,854,068,549 | 2,109,006,948 | 6,760,644,816 |
| Commission Income | - | - | - | - |
| Other Direct Income | 6,656,749 | 23,578,899 | 4,776,630 | 17,433,736 |
| Interest Income on Loan to Policyholders | 29,272,916 | 115,535,544 | 26,918,416 | 121,895,663 |
| Income from Investments and Loans | 370,105,294 | 1,506,501,927 | 389,126,071 | 1,576,851,807 |
Note:Detailed interim report has been published in company website.
* The figures has been restated/regrouped as per the requirement
* Foreign Employment premium may subject to change based on allocation from Foreign Employment Pool Manager.
Disclosure as per Section 84(3) of Insurance Act, 2079
- Solvency Ratio related disclosure: The compay has maintained solvency ratio of 1.57 ( Regulatory requirement:1.3) as per its latest approved Actuarial Valuation Report of FY 2081.82.
- Reinsurance related disclosure: The company has entered into reinsurance agreement with Domestic Reinsurers as per the NIA Directive to minimize its overall risks which is adequate based on companies risk exposure.
- Details regarding legal proceeding: There are no legal proceedings against the company arising from activities other than those from normal business operations.
- Corporate Governance: The company has complied with the Corporate governance Directive issued by Nepal Insurance Authority.
- Regulatory limit on expenses ratio: The expenses of company is below the expense ratio as stipulated by Nepal Insurance Authority.
6. The company had started Joint Operation as merged company from 2079/12/09. The company has complied with all the applicable laws ,directives and circulars issued by regulatory authorities.
| धितोपत्र दर्ता तथा निष्काशन नियमावली | २०७३ | २६ | (१) | ||
| १. वित्तीय विवरण : | |||||
| (क) त्रैमासिक अवधिको वासलात, नाफा नोक्सान सम्बन्धी विवरण : यस कम्पनीको आ.व. २०८२/८३ को चौथो त्रैमासिकको वासलात, नाफा नोक्सान सम्बन्धी वित्तीय विवरण यसैसाथ प्रकाशित गरिएको छ । कम्पनीले आ.व. २०८२/८३ को चौथो त्रैमासमा रु. | ३८.३८ | १.७ | |||
| कम्पनीले आ.व. २०८२/८३ को चौथो त्रैमास सम्ममा रु. | १ | ५७ | २७.७८ | २१.२६ | ३०.६ |
(ख) सम्बन्धित पक्ष (Related Party) बीच भएको कारोबार सम्बन्धी विवरण : समीक्षा अवधिमा प्रचलित नियम कानूनको अधिनमा रही संचालकसंग सम्बन्धित संस्थामा कार्यरत कर्मचारी तथा संचालकसंग सम्बन्धित व्यक्तिको बीमा सम्बन्धी कारोबारको विवरण निम्नअनुसार छ : सो नभएको ।
(ग) प्रमुख वित्तीय अनुपातहरू :
बीमाकीय मूल्याङ्कन पश्चात प्राप्त हुने मुनाफा जोड्दा वित्तीय अनुपातहरू फरक पर्न सक्छ ।
प्रति शेयर आम्दानी (वार्षिकरण)* मूल्य आम्दानी अनुपात प्रति शेयर नेटवर्थ प्रति शेयर कुल सम्पत्तिको मूल्य
रु. ७.६५ ४९.४९ ११२.६२ ६४३.४५
* प्रति शेयर आम्दानी गणना गर्दा अन्तिम शेयर संख्या लिइएको छ ।
| Net Realised Gains/(Losses) | 33,330,415 | 103,264,632 | 38,148,219 | 211,724,766 |
| Other Income | (215,524) | 222,718 | 204,198 | 3,101,880 |
| Total Income | 2,975,608,242 | 9,603,172,269 | 2,568,180,482 | 8,691,652,668 |
| Expenses: | ||||
| Gross Benefits and Claims Paid | 411,330,928 | 1,570,563,268 | 474,301,541 | 1,771,177,255 |
| Claims Ceded | (70,056,086) | (251,243,460) | (101,733,775) | (362,703,383) |
| Gross Change in Contract Liabilities | 1,864,883,790 | 5,897,120,637 | 1,463,321,382 | 5,130,810,613 |
| Change in Contract Liabilities Ceded to Reinsurers | 10,669,781 | 1,053,819 | 9,615,962 | 3,489,076 |
| Net Benefits and Claims Paid | 2,216,828,414 | 7,217,494,264 | 1,845,505,109 | 6,542,773,561 |
| Commission Expenses | 279,585,905 | 820,648,818 | 249,849,384 | 718,678,721 |
| Service Fees | 19,023,529 | 58,905,605 | 16,186,787 | 51,074,071 |
| Other Direct expenses | 2,171,634 | 2,171,634 | - | - |
| Employee Benefits Expenses | 124,667,878 | 494,961,892 | 99,493,506 | 441,706,131 |
| Depreciation and Amortization Expenses | 18,767,033 | 78,794,282 | 22,352,063 | 88,314,776 |
| Impairment Losses | - | - | (1,478,268) | (1,478,268) |
| Other Operating Expenses | 261,064,988 | 514,146,862 | 287,597,510 | 443,874,177 |
| Finance Cost | 11,687,657 | 35,765,097 | 11,068,152 | 33,546,852 |
| Total Expenses | 2,933,797,038 | 9,222,888,453 | 2,530,574,243 | 8,318,490,021 |
| Net Profit/(Loss) For The Year Before Share of Net Profits of Associates Accounted for Using Equity Method and Tax | 41,811,204 | 380,283,815 | 37,606,238 | 373,162,648 |
| Share of Net Profit of Associates accounted using Equity Method | - | - | - | - |
| Profit Before Tax | 41,811,204 | 380,283,815 | 37,606,238 | 373,162,648 |
| Income Tax Expenses | (1,195,234) | (3,581,200) | (2,229,881) | (4,331,010) |
| Net Profit/(Loss) For The Year | 43,006,438 | 383,865,015 | 39,836,120 | 377,493,658 |
| Earning Per Share | ||||
| Basic EPS | 3.43 | 7.65 | 3.18 | 7.53 |
| Diluted EPS | 3.43 | 7.65 | 3.18 | 7.53 |
CONDENSED CONSOLIDATED STATEMENT OF OTHER COMPREHENSIVE INCOME Fig in NPR.
| Particulars Current Year This Quarter Current Year Upto this Quarter (YTD) Corresponding Previous Year This Quarter Corresponding Previous Year Upto this Quarter (YTD) | ||||
| Net Profit/(Loss) For The Year | 43,006,438 | 383,865,015 | 39,836,120 | 377,493,658 |
| Other Comprehensive Income | 65,952,624 | 33,551,080 | 34,393,573 | (19,899,197) |
| Total Comprehensive Income | 108,959,063 | 417,416,094 | 74,229,693 | 357,594,461 |
OTHER INDICATORS
| Particulars | Current Year Upto this Quarter (YTD) | Previous Year Upto this Quarter (YTD) |
|---|---|---|
| 1. Total inforce Policy count | 529,212 | 664,629 |
| 2. No. of Policies Issued During the Year | 282,884 | 491,348 |
| 3. First Year Premium (Including Single Premium) | 2,446,162,003 | 2,122,113,868 |
| 4. Single Premium | 747,338,038 | 422,097,340 |
| 5. Renewal Premium | 5,644,441,905 | 4,883,254,503 |
| 6. Total Benefits and Claims Paid in Count | 12,281 | 14,365 |
| 7. Outstanding Benefits and Claims in Count | 5,666 | 5,607 |
| 8. Gross Claim Outstanding Amount | 435,977,116 | 416,430,466 |
9. Declared Bonus rate (FY 2080/81) Rs. 19-75 Per Thousand Rs. 19-75 Per Thousand
10. Interim bonus rate Rs. 19-75 Per Thousand Rs. 19-75 Per Thousand
| 11. Long Term Investments (Amount) | 14,819,886,085 | 12,679,820,566 |
| 12. Short Term Investments (Amount) | 12,707,601,456 | 8,388,916,634 |
| 13. Policyholders Loan | 1,926,709,834 | 1,562,285,088 |
| 14. Investment in Cost Value | 27,527,487,541 | 21,068,737,200 |
| 15. Life Insurance Fund (Amount) | 25,120,010,743 | 19,298,110,641 |
| 16. Unearned premium reserves for term policies (Amount) | 182,020,595 | 422,686,030 |
17. Solvency Margin Ratio (FY 2080.81) 1.57 1.46
२. व्यवस्थापकीय विश्लेषण :
(क) कम्पनीको आ.व. २०८०/८१ को चौथो त्रैमासिकसम्म अवधिमा कुल बीमाशुल्क रू. ८ अर्ब ९ करोड रहेको छ जुन गत आ.व. को सोही अवधिमा प्राप्त कुल बीमा शुल्क रु. ७ अर्ब तुलनामा १५ प्रतिशतले वृद्धि हो। त्यसैगरी संकलित प्रिमियम तथा जगेडा कोषहरूमा रहेको रकमलाई दीर्घकालीन / अल्पकालीन मुद्रा बजारका उपकरणहरूमा लगानी गरी व्याज आर्जन गर्न सफल भएको छ।
(ख) बीमा शिक्षा, बीमा सचेतना, बीमा विस्तार लगायतका काममा अग्रसर रही बजारको माग अनुरूप नयाँ बीमा योजनाहरू प्रस्तुत गरी समग्रमा बीमितहरूको हितलाई केन्द्रविन्दुमा राखी बीमा बजार विस्तार गर्दै सेवाग्राहीहरूलाई व्यावसायिक बीमा सेवा उपलब्ध गराउने कार्य जारी छ।
३. कानूनी कारवाही सम्बन्धी विवरण : सो नभएको ।
४. संगठित संस्थाको शेयर कारोबार सम्बन्धी विश्लेषण :
(क) शेयरको मूल्य बजारमा हुने कारोबारले निर्धारण गर्दछ।
(ख) त्रैमासिक अवधिको शेयर कारोबारको विवरण :
अधिकतम मूल्य न्यूनतम मूल्य अन्तिम मूल्य कारोबार संख्या कारोबार दिन
रु. ४१० रु. ३६७ रु. ३७८.८ ११,९७,०८९ कित्ता ६४
५. समस्या तथा चुनौती : जीवन बीमाक्षेत्रका मुख्य समस्या तथा चुनौतीहरू निम्नानुसार रहेका छन् :
• नेपालका सम्पूर्ण भूभागमा जीवन बीमा सम्बन्धी सचेतना फैलाउने कार्य भइरहेको भएतापनि देशको विकटतम भौगोलिक स्थितिका कारण धेरै स्थानमा जीवन बीमा सम्बन्धी सचेतना कार्यक्रम, बीमा शिक्षाका कार्यक्रमहरू नियमित रुपले सञ्चालन गर्न अनुकूल नभएको कारण अझ पनि जनमानसमा जीवन बीमा बारे जनचेतनाको कमी रहनु ।
• सीमित लगानीका क्षेत्रहरू ।
• अधिक तरलता र आर्थिक मन्दीले अर्थतन्त्रमा पारेको प्रतिकूल असरहरू ।
• नयाँ योजनाहरू जारी गर्न अनुसन्धान तथा विकासको लागि पर्याप्त र अद्यावधिक तथ्याङ्कको अभाव ।
• जीवन बीमा व्यवसायमा व्यावसायिक अवधारणाको विकास द्रुत गतिमा हुन नसकेको ।
६. संस्थागत सुशासन :
विद्यमान ऐन कानून तथा नियमन निकायबाट जारी गरिएका निर्देशनको पालना गर्नुका साथै कम्पनीको सञ्चालक समितिले समय समयमा निर्णय गरी लागू गरे का विभिन्न नीति नियमहरू बमोजिम व्यावसायिक सुशासन तथा पारदर्शिताका आधारमा आफ्नो कार्यसम्पादन गरिएकोछ । साथै कम्पनीका सञ्चालक एवं व्यवस्थापन तहका पदाधिकारीहरू रहने गरी लेखापरीक्षण समिति, आर्थिक समिति, लगानी समिति, मानव संसाधन समिति, जोखिम व्यवस्थापन समिति, दावी भुक्तानी समिति, वित्तीय सल्भेन्सी र पुनर्बीमा समिति, कर्मचारी सम्बन्धी समिति र आवश्यकता अनुसार सञ्चालक र व्यवस्थापनका पदाधिकारीहरूको संलग्नतामा समेत विभिन्न समिति / उपसमितिहरू मार्फत सामूहिक रूपमा निर्णयहरू गरी जोखिमलाई कम गर्ने, उच्चस्तरीय तथा आधुनिक सूचना प्रविधिको उपयोग गरी स्वतन्त्र रूपमा नियमित आन्तरिक लेखापरीक्षण गरी आन्तरिक नियन्त्रण प्रणालीलाई चुस्त बनाई संस्थागत सुशासनको पालना उच्च रूपमा गरिएकोछ।
७. सत्य, तथ्यता सम्बन्धमा कार्यकारी प्रमुखको उद्घोषण :
आजका मितिसम्म यस प्रतिवेदनमा उल्लेखित जानकारी तथा विवरणहरूको शुद्धता सम्बन्धमा म व्यक्तिगत रुपमा उत्तरदायित्व लिन्छु । साथै म यो उद्घोषण गर्दछु कि मैले जाने बुझेसम्म यस प्रतिवेदनमा उल्लेखित विवरणहरू सत्य, तथ्य र पूर्ण छन् र लगानीकर्ताहरूलाई सुसूचित निर्णय लिन आवश्यक कुनै विवरण, सूचना तथा जानकारीहरू लुकाइएको छैन ।
