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Tuesday, August 22nd, 2017

East West Insurance Company Limited’s financial results for the year ended December 31, 2012

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Karachi, March 08, 2013 (PPI-OT): We have to inform you that the Board of Directors of our company in their meeting held on Thursday 7th March 2013 at 4:00 p.m at 410, EFU House M.A. Jinnah road Karachi, recommended the following.

December 31,

December 31,

2012

2011

(Rupees in ‘000)

Net premium revenue

467,724

387,685

Net claims

(179,314)

(153,899)

Management expenses

(92,195)

(78,173)

Net commission

(83,251)

(73,810)

——-

——-

Underwriting results

112,964

81,803

Net investment income

36,777

31,364

Other income

4,171

4,365

General and administrative expenses

(67,942)

(68,684)

Workers welfare fund

(1,719)

(977)

——-

——-

(28,713)

(33,932)

——-

——-

Profit before Tax

84,251

47,871

Taxation

(16,194)

(13,121)

——-

——-

Profit for the year

68,057

34,760

——-

——-

Profit and loss appropriation account
Balance at commencement of the year

21,388

9,576

Profit for the year

68,057

34,760

Issuance of bonus shares: 10% (2011:10%)

(30,165)

(26,138)

Add: Transferred (from) / to general reserve

(25,000)

2,200

——-

——-

Balance unappopriated profit at the end of the year

34,280

21,388

——-

——-

Earning per share-basic and diluted

2.05

1.05

The Annual General Meeting of the Company will be held on Saturday 30th March 2013 at 9:30 a.m. at Registered Office of the Company at 27, Regal Plaza, Jinnah Road Quetta. The share Transfer Books of the company will remain closed from 29th March, 2013 to 3rd April, 2013 (both days inclusive).

For more information, contact:
Shabbir Ali Kanchwala
Company Secretary
East West Insurance Company Limited
410- 414, EFU House,
M. A Jinnah Road, Karachi-2
PABX: +92 (021)32313304-11
Fax: +92 (021) 32310851
E-mail: info@eastwestinsurance.com.pk
Web: www.eastwestinsuracne.com.pk

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