Askari Life Assurance Announces Quarterly Results with No Dividend Distribution

Rawalpindi, The Board of Directors of Askari Life Assurance Company Limited, meeting on April 24, 2024, in Rawalpindi declared no distributions for the first quarter ended March 31, 2024. This includes no cash dividend, bonus shares, right shares, or any other corporate actions or price-sensitive information.

According to the un-audited financial statement, the company reported a gross premium revenue of Rs. 366,803 thousand for the first quarter of 2024, a decrease from Rs. 417,224 thousand in the corresponding period of 2023. Net premium revenue after reinsurance ceded was reported at Rs. 281,531 thousand, slightly down from Rs. 292,181 thousand the previous year.

Investment income showed a significant increase to Rs. 68,422 thousand from Rs. 51,038 thousand year-over-year. However, total comprehensive loss for the quarter widened to Rs. 53,723 thousand compared to Rs. 60,988 thousand in the first quarter of 2023. The earnings per share were reported at a loss of Rs. 0.38, marginally better than last year’s loss of Rs. 0.41 per share.