Earnings Report: Reliance Insurance Co. Ltd. (PSX: RICL) today reported Financial Results for the Three and Six months ended June 30, 2017
By MG News | August 29, 2017 at 02:26 PM GMT+05:00
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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