Jubilee Life Insurance profits rise 22% to Rs. 2.569 billion

By MG News | February 15, 2018 at 03:49 PM GMT+05:00

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Jubilee Life Insurance today held their 116^th Board Meeting at Karachi and recommended a final cash dividend for the year ending December, 2017 at Rs. 14.50 per share i.e. 145%. The dividend announced is in addition to the already paid dividend of Rs. 3.00 per share i.e. 30%.

Jubilee Life Insurance Revenues for the year 2017 increased by 21.31 percent to clock in at Rs. 41.113 billion with expenses falling further by 44.54 percent.

The company reported bottom line profits worth Rs. 2.569 billion, witnessing a 22% increase from the same period last year.

Insurance giant’s earnings for the period grew proportionately to Rs. 32.29 per share against Rs. 26.57 during the same period last year.

Company is currently trading at 747.90 per share at the KSE 100 Index.

Comparison of Key Financials
Unconsolidated Profit and Loss Account - For the Half Year Ended, December 30^th 2017
Key Financials	2017	2016	% Change
	Amounts in PKR ‘000
Revenue	41,113.34	52,245.01	-21.31%
Premium/Contribution revenues net of reinsurance/re-takaful	46,128.69	36,988.24	24.71%
Investment Income/(loss) & other income	5,015.35	15,256.77	-67.13%
Expenses	26,969.99	48,628.83	-44.54%
Claims net of reinsurance/re-takaful including Movement in Policyholders' liability/Technical reserves	26,083.42	39,558.71	-34.06%
Management Expenses	10,886.57	9,070.12	20.03%
Surplus before tax in Revenue Account	4,143.35	3,616.18	14.58%
Surplus transferred to Profit and Loss Account	3,165.00	2,685.00	17.88%
Profit & loss account before appropriation of surplus to shareholders' fund	710.90	466.60	52.36%
Profit before tax as per profit & loss account	3,875.90	3,151.60	22.98%
Income tax	1,306.23	1,043.71	25.15%
Profit after tax as per profit & loss account	2,569.67	2,107.90	21.91%
EPS - Basic and diluted	32.39	26.57	21.90%

Company release on Earnings Report can be accessed here.

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