Earnings Report: The United Insurance Co. of Pakistan (PSX: UNIC) today reported Financial Results for the Three and Six months ended June 30, 2017
By MG News | August 28, 2017 at 02:36 PM GMT+05:00
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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