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.