Earning Review: AICL’s profits plummet by half

Jun-19

Jun-18

% Change

Net insurance premium

12,832,970

12,168,397

5.46%

Net insurance claims

(7,690,332)

(6,705,724)

14.68%

Net commission and other acquisition cost

(1,955,646)

(1,524,430)

28.29%

Insurance claims and acquisition expenses

(9,645,978)

(8,230,154)

17.20%

Management expenses

(2,208,494)

(1,757,600)

25.65%

Net change in insurance liabilities

(267,489)

(2,519,289)

-89.38%

Underwriting result

711,009

(338,646)

Investment income

1,765,985

2,554,059

-30.86%

Net fair value loss on financial assets at fair value through profit or loss

(1,631,530)

(566,807)

187.85%

Net realized gains on investment property

21,000

47,019

-55.34%

Rental income

3,189

5,030

-36.60%

Other income

174,041

89,144

95.24%

Other expenses

(73,495)

(84,275)

-12.79%

Results of operating activities

970,199

1,705,524

-43.11%

Finance cost

(12,887)

Profit/(loss) from Window Takaful Operations

57,859

44,281

30.66%

Profit before tax

1,015,171

1,749,805

-41.98%

Income tax expense

(465,194)

(641,061)

-27.43%

Profit after tax

549,977

1,108,744

-50.40%

Basic and diluted earnings per share - Rupees

1.51

3.13

-51.76%