KATHMANDU, Nov 7: Nepal Reinsurance Company (NRC) earned net profit of Rs 5.08 billion in total in the past seven years of its establishment.
The financial report unveiled by the NRC shows that the company earned net profit of Rs 362.69 million in the fiscal year 2014/15, while the figure rose to Rs 610.11 million in Rs 2020/21. Over the period, the company increased its paid up capital to Rs 11.65 billion from Rs 4.84 billion.
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NRC was established as Nepal's first reinsurance business in 2014. The government converted the Insurance Pool, which had been set to cover risk related to terrorism during Maoist insurgency period, into the reinsurance company.
The company has 44.04 percent equity participation of the Nepal government, 39.96 percent of Nepali insurance companies and remaining 16 percent shares of general people.
