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

MG News | August 29, 2017 at 02:26 PM GMT+05:00

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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.

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