Kathmandu. The government-owned Nepal Reinsurance Company has incurred a loss of around Rs 6 billion. According to the company’s unaudited financial report, the company has incurred a net loss of Rs 5.84 billion. 

The company had posted a net profit of Rs 54.82 crore in the same quarter last year. 

The company has earned a net profit of Rs 2.14 billion in the period from January to March.However, due to heavy claim payments in the first and second quarters, the company suffered a huge loss in the third quarter.

In the review period, the company’s claim payment stood at Rs. 10.83 billion.The company had posted a net profit of Rs 5.17 billion in the same period of the previous FY. 

Similarly, the company’s income from investment decreased from Rs 940 million to Rs 475.4 million and the net insurance premium decreased from Rs 7.11 billion to Rs 5.83 billion. 

The company’s earnings per share (EPS) also decreased by Rs 43.51 and net worth per share decreased to Rs 109.20 in the review period. The company has a paid-up capital of Rs 13.42 billion and reserve fund of Rs 4.90 billion.