Earnings Report: The United Insurance Co. of Pakistan (PSX: UNIC) today reported Financial Results for the Three and Six months ended June 30, 2017

MG News | August 28, 2017 at 02:36 PM GMT+05:00

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The United Insurance Co. of Pakistan announced Financial Results for the period ended June 30, 2017.

The company’s Underwriting Results for the period increased by 34.02 percent in the outgoing year, whereas the Profit after Taxation for the Period decreased by 2.88 percent.

The board did not recommend any Cash Dividend, 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 ‘000
Net insurance premium	1,640,767,277	1,230,802,859	33.31%
Net insurance claims	749,932,332	532,629,094	40.80%
Insurance claims and acquisition expenses	864,558,630	613,155,969	41.00%
Management expenses	296,506,581	259,713,315	14.17%
Underwriting results	479,702,066	357,933,575	34.02%
Investment income	67,930,140	48,324,716	40.57%
Result of Operating activities	395,110,621	284,047,664	39.10%
Finance cost	8,325,790	6,615,420	25.85%
Profit/(loss) before tax for the period	311,281,393	326,102,403	-4.54%
Income tax expense	37,648,840	44,348,315	-15.11%
PAT	273,632,553	281,754,088	-2.88%
Total Comprehensive income for the period	274,555,451	282,234,588	-2.72%
EPS - Basic & diluted	1.37	1.41	-2.84%

Company release on Earnings Report can be accessed here.

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