Asia Insurance : Financial Results for the Quarter Ended 30 June 2023
August 24, 2023 at 12:59 am EDT
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ASIA INSURANCE COMPANY LIMITED
CONDENSED INTERIM STATEMENT OF PROFIT OR LOSS (UNAUDITED) FOR THE HALF YEAR ENDED JUNE 30, 2023
For the Quarter Ended
30-Jun-2330-Jun-22
Rupees Rupees
For The Half Year Ended
30-Jun-2330-Jun-22
RUPEES RUPEES
Net Insurance Premium
Net Insurance Claims
Premium Deficiency
Net Commission and Other Acquisition Costs
Insurance Claims and Acquisition Expenses
Management Expenses
Underwriting Results
Investment Income / (Loss)
Other Income
Other Expenses
Results of Operating Activities
Finance Cost
Profit from Window Takaful Operations
Profit / (Loss) Before Tax
Income Tax Expense
Profit / (Loss) After Tax
195,833,634
(69,296,576)
-
(53,574,927)
(122,871,503)
(85,054,321)
(12,092,190)
7,302,182
19,585,690
(584,303)
14,211,379
(3,746,891)
7,364,924
17,829,412
(5,845,469)
11,983,943
180,999,820
(55,240,816)
-
(32,070,178)
(87,310,994)
(92,716,433)
972,393
(36,760,885)
3,538,865
(1,146,249)
(33,395,876)
(3,212,753)
4,312,202
(32,296,427)
10,086,882
(22,209,545)
374,510,539
(133,105,430)
2,114,175
(99,536,698)
(230,527,953)
(178,785,068)
(34,802,482)
1,786,445
36,386,285
(1,062,988)
2,307,260
(7,216,039)
13,938,434
9,029,655
(5,612,690)
3,416,965
343,473,911
(105,161,171)
9,217,525
(70,889,521)
(166,833,167)
(179,615,465)
(2,974,721)
(35,444,209)
6,378,445
(1,221,906)
(33,262,391)
(6,528,985)
8,377,778
(31,413,598)
9,823,724
(21,589,874)
Earnings / (Loss) Per Share - Basic & Diluted
0.16 (0.30)
0.05 (0.30)
ASIA INSURANCE COMPANY LIMITED - WINDOW TAKAFUL OPERATIONS CONDENSED INTERIM STATEMENT OF PROFIT OR LOSS (UNAUDITED) FOR THE HALF YEAR ENDED JUNE 30, 2023
Participants' Takaful Fund (PTF)
For The Quarter Ended
Un-AuditedUn-Audited
30-Jun-2330-Jun-22
Rupees Rupees
For The Half Year Ended
Un-AuditedUn-Audited
30-Jun-2330-Jun-22
Rupees Rupees
Contributions Earned
Less: Contributions Ceded to Retakaful
Net Contributions Revenue
Retakaful Rebate Earned
Net Underwriting Income
Net Claims - Reported / Settled - IBNR (Charge)/Reversal of Contribution Deficiency Reserve
Other Direct Expenses
Surplus / (Deficit) Before Investment Income Other Income
Surplus Transferred to Accumulated Surplus
Operator's Fund (OPF)
Wakala Fee
Commission Expense
General, Adminstration and Management Expenses
Other Income
Other Expenses
Profit for the period
15,804,953
11,641,873
(6,936,110)
(5,436,413)
8,868,843
6,205,460
-
-
8,868,843
6,205,460
(9,952,286)
(1,178,320)
(70,747)
415,833
(10,023,033)
(762,487)
(1,189)
(93)
(1,155,379)
5,442,880
2,879,632
659,127
1,724,253
6,102,007
11,532,431
9,354,309
(5,385,738)
(3,823,990)
(610,633)
(1,843,944)
5,536,060
3,686,375
1,901,914
732,215
(73,050)
(106,388)
7,364,924
4,312,202
31,174,673
(12,029,221)
19,145,452
-
19,145,452
(12,639,376)
(331,291)
(12,970,667)
(3,704)
6,171,081
5,180,363
11,351,444
23,116,919
(10,602,435)
(1,390,105)
11,124,379
2,887,105
(73,050)
13,938,434
22,837,232
(10,845,098)
11,992,134
-
11,992,134
(4,126,275)
-
(4,126,275)
(1,056)
7,864,803
1,283,110
9,147,913
18,175,942
(7,447,718)
(3,709,567)
7,018,657
1,465,509
(106,388)
8,377,778
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Asia Insurance Company Ltd. published this content on 24 August 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 August 2023 04:58:01 UTC.
Asia Insurance Company Limited is a Pakistan-based insurance company. The Company provides a wide range of property casualty insurance to support its esteemed clients in business and in daily life through its general insurance, and general Takaful cover. The Companyâs segments include fire and property damage, marine aviation and transport, motor and miscellaneous. Its fire and property damage covers loss or damage caused by fire and its allied perils including lightning, storms, earthquakes, rain, flood damage, riot and strike damage, burglary and malicious damage. The Company provides crop and livestock insurance for farmers, banks and financial institutions. Its marine insurance covers all modes of transportation of goods, including air, sea, and rail/road. It provides coverage for cargo for loss or damage while itâs on the go.