Earnings Report: Reliance Insurance Co. Ltd. (PSX: RICL) today reported Financial Results for the Three and Six months ended June 30, 2017

Reliance Insurance Co. ltd. announced Financial Results for the period ended June 30, 2017.

The company’s Underwriting Results for the period increased by 5.38 percent in the outgoing year, whereas the Insurance Company suffered losses for the above stated period.

The board did not recommend any Cash Dividend, no bonus or right shares.

Comparison of Key Financials

Unconsolidated Profit and Loss Account – For the Six Months Ended

Key Financials

Jan – June, 2017

Jan – Jun, 2016

% Change

 

Amounts in PKR

Net Premium Revenue

177,513,685

177,547,344

-0.02%

Net Claims

43,874,307

48,788,911

-10.07%

Underwriting Results

40,624,999

38,550,746

5.38%

Net Investment (loss)/Income

19,458,416

47,893,186

-59.37%

General & Admin: Expenses

29,757,971

27,730,217

7.31%

Profit/(Loss) before Tax from Takaful operations – OPF

1,522,249

(1,340,044)

 

(Loss)/Profit before tax

(5,947,059)

57,812,339

 

Taxation

13,200,000

(6,800,000

94.12%

(Loss)/Profit after tax

(19,147,059)

51,012,339

 

Balance Unapproporitated Profit at the end of the period

7,447,005

83,472,838

-91.08%

(Loss)/EPS- Basic & diluted

(0.34)

0.91

 

 

Company release on Earnings Report can be accessed here.

Reliance Insurance Co. ltd. announced Financial Results for the period ended June 30, 2017.

The company’s Underwriting Results for the period increased by 5.38 percent in the outgoing year, whereas the Insurance Company suffered losses for the above stated period.

The board did not recommend any Cash Dividend, no bonus or right shares.

Comparison of Key Financials

Unconsolidated Profit and Loss Account – For the Six Months Ended

Key Financials

Jan – June, 2017

Jan – Jun, 2016

% Change

 

Amounts in PKR

Net Premium Revenue

177,513,685

177,547,344

-0.02%

Net Claims

43,874,307

48,788,911

-10.07%

Underwriting Results

40,624,999

38,550,746

5.38%

Net Investment (loss)/Income

19,458,416

47,893,186

-59.37%

General & Admin: Expenses

29,757,971

27,730,217

7.31%

Profit/(Loss) before Tax from Takaful operations – OPF

1,522,249

(1,340,044)

 

(Loss)/Profit before tax

(5,947,059)

57,812,339

 

Taxation

13,200,000

(6,800,000

94.12%

(Loss)/Profit after tax

(19,147,059)

51,012,339

 

Balance Unapproporitated Profit at the end of the period

7,447,005

83,472,838

-91.08%

(Loss)/EPS- Basic & diluted

(0.34)

0.91

 

 

Company release on Earnings Report can be accessed here.

Posted on: 2017-08-29T14:26:00+05:00