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HomeEquityEarnings Report: The United Insurance Co. of Pakistan (PSX: UNIC) today reported...

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

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.

Posted on: 2017-08-28T14:36:00+05:00
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