Premier Insurance : Presentation File of Corporate Briefing Session 2023

Premier Insurance Limited

Corporate Briefing Session Held on 27th December 2023

Contents

Introductory Briefing

Key Highlights - Profit & Loss

Financial Performance, Portfolio & Segment Performance for the period ended Sep 30, 2023

Key Highlights - Balance Sheet Outlook

Introductory Briefing

• 1952 - Zahid Hussain, the 1st Governor of the State Bank of Pakistan brought together leading industrialists of the newly established country realizing the need for a Pakistani insurer - a crucial component for a young, burgeoning economy, this event set into motion the conception of Premier Insurance, a company with a vision to serve the nation
• Premier Insurance is listed on the Pakistan Stock Exchange having earned numerous awards in the past
• Premier Insurance is a member of the Insurance Association of Pakistan.
• Premier Insurance is licensed by the Securities and Exchange Commission of Pakistan to do General Insurance Business in Pakistan.

Introductory Briefing

• Our business spans over the country, provides services to clients across all economic sectors and offers products in all classes of general insurance.
• It is our historical practice of striving to achieve prompt settlement of even the largest claims that has allowed us to build relationships lasting generations, with some of the oldest institutions of Pakistan, and attract new clients seeking to prosper in the modern economy.
• With our values firmly anchored in our founders' objective of serving the nation.
• We are committed to maintaining and forever building upon our tradition of excellence in all that we do.

Introductory Briefing

Commencement of Operations		1952
Head Quarters		Karachi
Major Shareholders	1) Crescent Powertech Limited	18%
	2) State Life Insurance Corp. Of Pakistan	10%
Credit Rating(Long Term)		A
Branches and offices		10
Cities Covered		07
Staff Strength	Permanent	72
Contractual	11

Introductory Briefing

Branches Matrix

Provinces No of Branches

Sindh	2
Punjab	6
KPK	1
Federal territory	1
Total	10

2

1

1

6

Company offers following facilities

Fire and Property Damages

Marine, Aviation and transport

Motor

Miscellaneous

Engineering

Energy

Health

Bonds, Liability and Workmen Compensation

Key Highlights - Profit or Loss

	Sep-23	Sep-22	Sep-21
Premium written	432,562	453,716	481,185
Net premium	235,174	212,116	177,777
Net Claim	-58,810	-211,754	-192,507
Investment Income	31,536	26,287	134,778
Less: Impairment & Expenses	-	-24,895	-1,833
Net Investment income	31,536	1,392	132,945
Profit / (loss) before taxation	-31,439	-144,626	-34,467
Profit / (loss) after taxation	-38,301	-151,117	-41,720

Portfolio - Combined

Sep-22

Misc

9%

Fire

29%

Health

35%

Marine

8%

Motor

20%

Sep-21

Misc

7%

Fire 30%

Health

39%

Marine

6%

Motor

18%

Miscellaneous Includes seral lines including Engineering, Bond, Travel, Liability and Workmen Compensation

Financial Performance for the period ended Sep 30, 2022 - Conventional

(Rupees in '000)

Profit/(loss) statement	Sep-23	Sep-22
Net Insurance Premium	235,174	212,116
Insurance claim & acquisition expenses	-137,183	-222,877
Management Expenses	-156,801	-159,105
Underwriting results	-58,810	-169,866
Investment income	31,535	1,392
Rental income	3,673	3,596
Revaluation gain on investment property	0	13,500
Other income	5,974	20,006
Other expenses	-3,193	-4,378
Results of operating activities	-20,821	-135,750
Finance costs	-491	-899
Share of (loss) / profit from associates	-319	-1,208
Loss before tax from WTO	-9,809	-6,769
Loss before tax	-31,439	-144,626
Loss after tax	-38,301	-151,117