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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