Nepal Reinsurance Company Limited has published its unaudited financial results for the second quarter of Fiscal Year 2082/83 (covering the period from Shrawan to Poush), reporting a substantial financial setback during the review period.
According to the company’s latest financial statement, Nepal Reinsurance recorded a net loss of Rs. 7.98 billion as of the end of Poush. In comparison, the company had earned a net profit of Rs. 532.6 million during the same period in the previous fiscal year.
The sharp decline in profitability has largely been attributed to the financial impact arising from losses linked to the Gen-Z movement, which significantly affected the state-owned reinsurance company’s overall performance.
Reserves and Equity Position
As of the review period, the company’s paid-up share capital stood at Rs. 13.42 billion.
The company reported the following reserve positions:
- Special Reserve: Rs. 4.92 billion
- Catastrophe Reserve Fund: Rs. 427.6 million
- Other Equity: Rs. 782.3 million
- Retained Earnings: Negative Rs. 7.05 billion
For comparison, at the end of Ashad in the previous fiscal year, Nepal Reinsurance had reported:
- Special Reserve: Rs. 4.92 billion
- Catastrophe Reserve Fund: Rs. 427.6 million
- Retained Earnings: Positive Rs. 933.7 million
- Other Equity: Rs. 822.3 million
The latest figures indicate a significant deterioration in retained earnings during the current fiscal year.
Premium Income Declines
During the review period, Nepal Reinsurance generated total gross insurance premiums worth Rs. 4.09 billion.
In the corresponding period of the previous fiscal year, gross premium income stood at Rs. 4.37 billion.
This represents a decline of 6.39 percent year-on-year.
Similarly, net premium income decreased to Rs. 3.64 billion, compared to Rs. 4.00 billion recorded in the same period last year.
Net premium earnings therefore declined by 8.88 percent compared to the previous year.
Earnings Per Share Turns Negative
The company’s financial performance also significantly impacted shareholder returns.
Annualized Earnings Per Share (EPS) fell to a negative Rs. 59.49, compared to a positive Rs. 3.97 recorded during the same period last year.
Meanwhile, the company’s Net Worth Per Share declined to Rs. 93.16.
The financial results highlight a challenging period for Nepal Reinsurance, with pressure from claims and declining premium growth significantly affecting profitability and shareholder value.
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