Jubilee Life Insurance reports impressive growth in half yearly profits

Jun-20

Jun-19

% Change

REVENUE

Premiums/Contributions Revenue

 20,375.84

 24,915.35

-18.22%

Premiums/Contributions ceded to reinsurers

 (649.73)

 (695.36)

-6.56%

Net premiums/contributions revenue

 19,726.11

 24,219.99

-18.55%

Fee income

 16.04

 15.65

2.49%

Investment income

 6,589.52

 5,451.27

20.88%

Net realised fair value gains on financial assets

 4,866.61

 (372.63)

Net fair value loss on financial assets at fair value through profit or loss

 (13,451.65)

 (4,378.05)

207.25%

Other income

 159.97

 140.60

13.78%

Net income

 17,906.60

 25,076.83

-28.59%

Insurance benefits

 12,100.45

 11,256.05

7.50%

Recoveries from reinsurers

 (588.44)

 (578.81)

1.66%

Claims related expenses

 1.69

 3.52

-51.99%

Net insurance Benefits

 11,513.70

 10,680.76

7.80%

Net change in Insurance liabilities (other than outstanding claims)

 (587.26)

 6,705.95

-108.76%

Acquisition expenses

 2,875.29

 4,407.07

-34.76%

Marketing and administrative expenses

 1,891.08

 1,548.29

22.14%

Other expenses

 30.40

 20.10

51.24%

Total expenses

 4,209.51

 12,681.41

-66.81%

Realized gain / (loss) on derivative financial instrument

 34.86

 11.96

191.47%

Unrealized (loss) /gain on derivative financial instrument

 (120.97)

 5.82

Finance cost

 (104.40)

 (96.31)

8.40%

Results of operating activities

 1,992.88

 1,636.13

21.80%

Share of profit from associates

 11.85

 7.72

53.50%

Profit before tax for the period

 2,004.73

 1,643.85

21.95%

Taxation

 (594.40)

 (664.10)

-10.50%

Profit after tax for the period

 1,410.33

 979.75

43.95%

Earnings (after tax) per share (Rupees)

 16.16

 11.23

43.90%