Reliance Insurance posts higher profit in April-June quarter

Reliance Insurance Ltd reported a 6.63 per cent increase in profit in the April-June quarter of 2022 compared to a year ago.

Its earnings per share rose to Tk 2.09 in the second quarter this year, up from Tk 1.96 for April-June of 2021, according to the unaudited financial statements.

The EPS increased because of a rise in premium incomes, said the insurer in a filing on the Dhaka Stock Exchange today. 

During the first half of 2022, the EPS stood at Tk 3.37, against Tk 3.31 reported during the same January-June period of 2021.

Net operating cash flow per share rose to Tk 7.38 in January-June from Tk 4.85 in the first half of last year, thanks to an increase in premium collections.

The insurance company's net asset value per share was Tk 61.89 on June 30 this year and Tk 64.39 on December 31 last year. The NAV fell due to the decrease in the value of market securities, said the insurer.