Union Life Insurance Company has reported net profit of Rs.9.35 crore in the fourth quarter of Fiscal year 2074/75.
Net profit decreased from Rs.9.88 crore from third quarter of FY 2074/75 to Rs. 9.35 core in Q4.
Life Insurance Company is able to collected premium of Rs.76.22 crore in Q4. It had collected Rs.39.06 crore in Q3.
It had paid Rs.53 lakh for claims during the period. It had sold 39,590 polices upto Q4.
Currently its paid up capital is Rs.1.50 arba with reserve fund of Rs.9.86 crore. It will be floating IPO worth Rs.64.50 crore to general public at the par value of Rs. 100. Paid up capital will reach to Rs.2.15 arba after IPO issuance.
It has maintained Rs.35.46 crore in life insurance fund & Rs.93.59 lakh in disaster fund.
