Adamjee Insurance : Financial Results for the Quarter Edned 31 March 2022
April 28, 2022 at 09:16 am
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Adamjee Insurance Company Limited
Unconsolidated Condensed Interim Profit and Loss Account (Un-audited)
For the Quarter Ended 31 March 2022
Quarter Ended
31 March 2022
31 March 2021
Rupees in thousand
Net Insurance Premium
3,756,123
2,898,305
Net Insurance Claims
(2,172,668)
(1,580,017)
Net Commission and other acquisition costs
(471,665)
(358,264)
Insurance claims and acquisition expenses
(2,644,333)
(1,938,281)
Management expenses
(882,843)
(751,785)
Underwriting results
228,947
208,239
Investment income
958,636
996,624
Rental income
38,880
29,568
Other income
47,104
22,812
Other expenses
(14,390)
(11,566)
Results of operating activities
1,259,177
1,245,677
Finance cost
(24,633)
(5,206)
Profit from window takaful operations
73,523
33,750
Profit before tax
1,308,067
1,274,221
Income tax expense
(379,709)
(365,116)
Profit after tax
928,358
909,105
Earnings (after tax) per share
-------------(Rupees)------------
2.65
2.60
Adamjee Insurance Company Limited
Consolidated Condensed Interim Profit and Loss Account (Un-audited)
For the Quarter Ended 31 March 2022
Net Insurance Premium
9,498,536
7,690,106
Net Insurance Claims
(5,037,103)
(3,732,867)
Net Commission and other acquisition costs
(1,300,722)
(1,124,549)
Insurance claims and acquisition expenses
(6,337,825)
(4,857,416)
Management expenses
(1,123,055)
(952,108)
Net change in insurance liabilities (other than outstanding claims)
(2,785,549)
(2,389,412)
Underwriting results
(747,893)
(508,830)
Investment income
1,749,572
2,002,514
Net fair value loss on financial assets at fair value
through profit or loss
(268,406)
(307,090)
Net unrealized gain on investment property
-
42,000
Rental income
24,203
17,845
Other income
201,857
104,624
Other expenses
(16,304)
(20,435)
Results of operating activities
943,029
1,330,628
Finance cost
(25,406)
(5,653)
Profit from window takaful operations
73,523
33,750
Profit before tax
991,146
1,358,725
Income tax expense
(408,410)
(384,494)
Profit after tax
582,736
974,231
Profit attributable to:
Equity holders of the parent
580,559
974,231
Non-controlling interest
2,177
-
582,736
974,231
Earnings (after tax) per share
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Adamjee Insurance Company Limited published this content on 28 April 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 April 2022 08:14:15 UTC.
Adamjee Insurance Company Limited is a general insurance company. The Company operates through five segments: Fire and property damage, Marine, aviation and transport, Motor, Health and Miscellaneous. Its marine products and services include marine hull and machinery, marine cargo marine umbrella liability and aviation. The motor services include comprehensive car, commercial vehicle, motorcycle comprehensive and motor third party liability. The miscellaneous services include bankersâ policy, burglary, cash in safe, cash in transit, cellular mobile phone, contractual liability, credit card travel inconvenience policy, crop, personal accident, plastic card, product liability policy and others. The fire and property services provide property all risk, comprehensive machinery, consequential loss of profit, energy, ginning stock policy, home, fire policy and shop ownerâs comprehensive policy. It also operates branches in the United Arab Emirates (UAE) and the Export Processing Zone (EPZ).
ADAMJEE INSURANCE COMPANY LIMITED 
