Despite gains in top-line earnings, Adamjee life's bottom-line profits drop by 1%

Jun-18

Jun-17

% Change

Net insurance premium

                                      12,168,397

                                      11,221,287

8.44%

Net insurance claims

                                      (6,699,310)

                                      (6,052,412)

10.69%

Premium deficiency

                                                        -  

                                               47,171

Net commission and other acquisition cost

                                      (1,452,875)

                                      (1,293,608)

12.31%

Insurance claims and acquisition expenses

                                      (8,152,185)

                                      (7,298,849)

11.69%

Investment income - statutory funds

                                         1,024,175

                                            479,903

113.41%

Net change in policy holder liabilities

                                      (2,519,288)

                                      (2,406,126)

4.70%

Surplus of policyholders' funds

                                            (60,815)

                                            (15,284)

297.90%

Management expenses

                                      (1,875,509)

                                      (1,604,357)

16.90%

Underwriting result

                                            584,775

                                            376,574

55.29%

Investment income

                                         1,089,657

                                         1,139,140

-4.34%

Rental income

                                                 5,030

                                                 1,614

211.65%

Other income

                                               46,338

                                               53,289

-13.04%

Other expenses

                                            (85,112)

                                            (66,178)

28.61%

Results of operating activities

                                         1,640,688

                                         1,504,439

9.06%

Exchange(loss)/gain

                                                 3,086

                                                  (203)

Profit/(loss) from Window Takaful Operations

                                               44,281

                                               31,025

42.73%

Profit before tax

                                         1,688,055

                                         1,535,261

9.95%

Income tax expense

                                          (641,061)

                                          (475,952)

34.69%

Profit after tax

                                         1,046,994

                                         1,059,309

-1.16%

Basic and diluted earnings per share - Rupees

                                                   2.99

                                                   3.03

-1.32%