Jubilee Life Insurance’s net profits shrink by 8.5% YoY in CY19

Dec-19

Dec-18

% Change

Premiums/Contributions Revenue

 49,627.41

 51,887.07

-4.35%

Premiums/Contributions ceded to reinsurers

 (1,231.39)

 (1,216.10)

1.26%

Net premiums/contributions revenue

 48,396.02

 50,670.97

-4.49%

Fee income

 32.88

 41.81

-21.36%

Investment income

 12,591.77

 7,237.76

73.97%

Net realized fair value gains on financial assets

 (1,454.73)

 267.07

-

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

 8,902.72

 (9,744.80)

-191.36%

Other income

 297.59

 196.68

51.31%

Net income

 68,766.25

 48,669.49

41.29%

Insurance benefits

 23,629.64

 17,294.77

36.63%

Recoveries from reinsurers

 (1,165.31)

 (985.89)

18.20%

Claims related expenses

 7.28

 6.84

6.43%

Net insurance Benefits

 22,471.61

 16,315.72

37.73%

Net change in Insurance liabilities (other than outstanding claims)

 30,483.40

 16,349.03

86.45%

Acquisition expenses

 9,060.49

 9,795.74

-7.51%

Marketing and administrative expenses

 3,159.77

 2,776.76

13.79%

Other expenses

 27.80

 29.67

-6.30%

Total expenses

 42,731.46

 28,951.20

47.60%

Realized gain / (loss) on derivative financial instrument

 43.65

 (25.20)

-

Unrealized (loss) /gain on derivative financial instrument

 (47.82)

 181.80

-

Finance cost

 (152.78)

 (120.49)

26.80%

Results of operating activities

 3,406.23

 3,438.68

-0.94%

Share of profit from associates

 10.14

 9.92

2.22%

Profit before tax for the period

 3,416.37

 3,448.60

-0.93%

Taxation

 (1,192.14)

 (1,018.26)

17.08%

Profit after tax for the period

 2,224.23

 2,430.34

-8.48%

Earnings per share (Rupees)

 28.04

 30.64

-8.49%