Adamjee Insurance : Financials Results for the Quarter Ended 30 September 2023
October 26, 2023 at 06:20 am EDT
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Adamjee Insurance Company Limited
Unconsolidated Condensed Interim Profit and Loss Account (Un-audited)
For the Nine Months Ended 30 September 2023
Quarter ended
Nine Months ended
30 September
30 September
30 September
30 September
2023
2022
2023
2022
-------- (Rupees in thousand) --------
Net Insurance Premium
Net Insurance Claims
Net Commission and other acquisition costs Insurance claims and acquisition expenses Management expenses
Underwriting results
Investment income Rental income Other income
Fair value adjustment to investment property Other expenses
Workers' Welfare Fund charge
Results of operating activities
Finance cost
Profit from Window Takaful Operations - Operator's Fund
Profit before tax
Income tax expense
Profit after tax
4,785,795
(3,214,936)
(570,754)
(3,785,690)
(1,121,474)
(121,369)
1,833,051
46,111
164,289
3,114
(27,061)
(40,204)
1,857,931
(1,714)
113,780
1,969,997
(778,253)
1,191,744
4,575,776
(3,246,632)
(545,238)
(3,791,870)
(975,044)
(191,138)
594,542
41,138
60,018
-
(26,554)
-
478,006
(2,033)
91,959
567,932
(192,869)
375,063
14,382,719
(10,048,662)
(1,899,489)
(11,948,151)
(3,235,411)
(800,843)
3,088,939
134,509
371,548
296,398
(73,553)
(66,983)
2,950,015
(2,943)
335,090
3,282,162
(1,414,028)
1,868,134
12,375,408
(7,845,013)
(1,530,044)
(9,375,057)
(2,752,049)
248,302
1,796,809
119,682
175,792
-
(56,637)
-
2,283,948
(33,958)
250,472
2,500,462
(1,115,505)
1,384,957
-------------(Rupees)
------------
-------------(Rupees)
------------
Earnings (after tax) per share
3.41
1.07
5.34
3.96
Adamjee Insurance Company Limited
Consolidated Condensed Interim Profit and Loss Account (Un-audited)
For the Nine Months Ended 30 September 2023
Quarter ended
Nine Months ended
30 September
30 September
30 September
30 September
2023
2022
2023
2022
---------(Rupees in thousand)---------
Net insurance premium
Net insurance claims
Net commission and other acquisition costs Insurance claims and acquisition expenses Management expenses
Net change in insurance liabilities (other than outstanding claims)
Underwriting results
Investment income
Net fair value gain / (loss) on financial assets at fair value through profit and loss - unrealised
Rental income Other income
Fair value adjustment to investment property Other expenses
Workers' Welfare Fund charge
Results of operating activities
Finance cost
Profit from Window Takaful Operations
Operator's Fund (Parent Company)
Profit before tax
Income tax expense
Profit after tax for the period
Profit attributable to:
Equity holders of the parent
Non-controlling interest
10,686,498
(8,264,846)
(1,287,331)
(9,552,177)
(1,544,306)
(3,547,507)
(3,957,492)
5,072,138
597,978
30,309
364,186
3,114
(36,834)
(40,204)
2,033,195
(2,386)
113,780
2,144,589
(907,994)
1,236,595
1,209,152
27,443
1,236,595
9,408,569
(6,784,008)
(1,206,207)
(7,990,215)
(1,286,369)
(1,882,826)
(1,750,841)
2,259,404
8,894
25,119
227,378
4,275
(27,194)
-
747,035
(2,319)
91,959
836,675
(269,881)
566,794
548,045
18,749
566,794
31,207,110
(23,663,295)
(3,901,546)
(27,564,841)
(4,341,888)
(8,688,601)
(9,388,220)
11,557,281
253,542
87,140
1,028,687
215,488
(90,126)
(66,983)
3,596,809
(5,140)
335,090
3,926,759
(1,758,887)
2,167,872
2,098,245
69,627
2,167,872
26,802,182
(17,215,779)
(3,656,153)
(20,871,932)
(3,563,768)
(4,261,595)
(1,895,113)
5,593,745
(2,039,025)
77,518
733,252
4,275
(60,578)
-
2,414,074
(36,241)
250,472
2,628,305
(1,297,950)
1,330,355
1,299,629
30,726
1,330,355
---------------- (Rupees)
-------------
---------------- (Rupees)
-------------
Earnings (after tax) per share
3.45
1.56
5.99
3.71
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Adamjee Insurance Company Limited published this content on 26 October 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 October 2023 10:18:32 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).