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Monday, November 29, 2021
    Nepal Breaking NewsBusinessThe life insurance fund of Citizen Life has grown to more than...

    The life insurance fund of Citizen Life has grown to more than Rs 4 billion.

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    In its financial statements for the first quarter of the current fiscal year, Citizen Life Insurance Company Limited has released a statement of financial position.

    According to the financial statement made public, the amount of the company’s life insurance fund has increased 111.405 percent, bringing it to $4 billion 245.5 million dollars. The company’s life insurance fund stood at 2.82 billion dollars during the same period of the previous fiscal year.

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    Along with the expansion of life insurance funds, the company has also been able to expand its business operations and reach new customers. It has succeeded in collecting Rs. 1.24 billion 3.2 million out of the premium collection of Rs. 628 million collected up to the middle of August in the previous fiscal year.

    Furthermore, throughout the period under examination, the corporation expanded the size of its reserves and funds from 591 million to around 853 million dollars.

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    Aside from that, the company has seen a growth in its income from investments, securities, and other loans, which has increased almost 51 percent to Rs 165.1 million.

    The company has been able to invest approximately 72.475 percent of the entire investment and has taken out a loan in the amount of Rs. 6 billion 890 million, which has had a direct impact on the company’s earnings.

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