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Sunday, July 22nd, 2018

EFU General Insurance Limited’s condensed interim 2nd quarterly accounts-2011 (Un-audited)

Be First!

Karachi: We have to inform you that the Board of Directors of our Company in their meeting held at Karachi on Saturday August 27, 2011 have reviewed and approved the Condensed interim 2nd Quarterly Accounts (Unaudited.) for the six months period ended June 30, 2011.

 

A copy of the Condensed Interim Profit and Loss Accounts for the six months ended June 30, 2011 is enclosed.

 

Condensed Interim Profit and Loss Account for the six months period ended 30 June 2011 (Unaudited)

Rupees in ‘000’

 

Three months period ended 30 June

Fire and

Property

damage

Marine

aviation and

transport

 Motor Others Aggregate

Treaty

 2011 2010
Revenue account
Net premium revenue 401,966 290,327 652,872  66,847 1,412,002 1,400,962
Net claims (153,945) (185,492) (398,867) (49,823)  (284)  (788,411) (930,300)
Change in premium deficiency reserve 20,790  – 20,790 (1,616)
Management expenses  (79,043) (56,508) (152,307) (12,658)  – (300,516) (309,479)
Net commission (84,394) (48,501) (46,689) 15,733 (163,851) (176,495)
 ——- ——- ——- ——  —  ——— ———
Underwriting result 105,364 (174) 55,009 20,099  (284) 180,014 (16,928)
 ——- ——-  ——-  ——
Investment income / (loss) 17,102  (532,140)
Rental income 21,505 20,163
Profit on deposits 28,170 18,598
Other income 5,654 4,508
Share of profit of an associate 62,740 8,226
Exchange (loss) / profit (372)  1,980
General and administration expenses (135,903) (112,615)
——— ———
 (1,104) (591,280)
——— ———
Profit/ (loss) before tax 178,910 (608,208)
Provision for taxation – current (37,618) (33,944)
– deferred (31,905) 23,853
 (69,523) (10,091)
——— ———
Profit/ (loss) after tax 109,387 (618,299)
———  ———
Earnings / (loss) per share – basic and diluted (Rupees) 0.88  (4.95)

 

 

Six months Period ended 30 June

 

 

Revenue account
Net premium revenue 886,371 601,099 1,332,433 114,194 2,934,697 2,845,551
Net claims (421,169) (355,800)  (896,034) (63,041) 945 (1,735,099) (1,929,205)
Change in premium deficiency reserve  26,896 26,896 (2,867)
Management expenses (158,344)  (107,362)  (293,441) (20,507)  – (579,674) (581,355)
Net commission  (167,102) (98,107)  (94,070) 50,149 (309,130) (311,604)
——-  ——- ——— ——-  — ——— ———
Underwriting result 166,652 39,810  48,888 81,395 945 337,690 21,520
 ——-  ——- ——— ——-
Investment income / (loss) 4,801 (614,277)
Rental income 42,972 39,998
Profit on deposits 48,909 40,388
Other income 7,559 6,309
Share of profit of an associate 126,517 22,585
Exchange (loss) / profit (2,087) 1,425
General and administration expenses  (244,390) (212,613)
——— ———
 (15,719)  (716,185)
——— ———
Profit / (loss) before tax 321,971  (694,665)
Provision for taxation – current (58,451) (38,265)
– deferred (70,646) 24,489
Profit/ (lost) after tax  (12,097)  (13,776)
——— ———
Profit and loss appropriation account 192,874 (708,441)
Balance at commencement of period (321,731) 801,590
Profit / (logs) after tax 192,874 (708,441)
Dividend 2010 @12.50% (2009 @40%)  (156,250) (460,000)
Issue of bonus shares  – (100,000)
Transfer from / (to) general reserve 500,000 (150,000)
——— ———
Balance unappropriated profit at and of the period 214,893 (616,851)
——— ———
Earnings / (loss) per share – basic and diluted (Rupees) 1.54 (5.67)

 

For more information, contact:
EFU General Insurance Limited
EFU House, M.A. Jinnah Rood,
P.O. Box 5005, Karachi-74000
Phones: 2313471-90
Fax: 92-21 23-2310450
E-mail: info@efuinsuranc.com
Web: www.efuinsurance.com

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