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Karachi: We have to inform you that the Board of Directors of our Company in their meeting held at Karachi on Saturday April 28, 2012 have reviewed and approved the Condensed Interim 1st Quarterly Accounts (Un-audited) for the three months period ended March 31, 2012.
A copy of the Condensed Interim Profit and Loss Accounts for the three months period ended March 31, 2012 is enclosed.
Condensed Interim Profit and Loss account for the three months period ended 31 March 2012 (Unaudited)
| Rupees ‘000 | |||||||
| Fire and | Marine, | ||||||
| property | aviation and | Aggregate | |||||
| damage | transport | Motor | Others | Treaty | 2012 | 2011 | |
| Revenue account | |||||||
| Net premium revenue |
467,393 |
304,155 |
633,532 |
70,149 |
9 |
1,475,238 |
1,522,895 |
| Net claims |
(285,801) |
(163,240) |
(460,243) |
(33,381) |
(1,033) |
(913,698) |
(946,688) |
| Change in premium deficiency | |||||||
| reserve |
– |
– |
– |
– |
– |
– |
6,106 |
| Management expenses |
(85,270) |
(55,439) |
(139,529) |
(12,800) |
– |
(293,088) |
(279,158) |
| Net commission |
(85,351) |
(48,975) |
(50,159) |
38,141 |
(6) |
(146,350) |
(145,279) |
|
—— |
—— |
——- |
—— |
—– |
——- |
——- |
|
| Underwriting results |
30,971 |
36,451 |
(6,399) |
62,109 |
(1,030) |
122,102 |
157,676 |
|
—— |
—— |
——- |
—— |
—– |
——- |
——- |
|
| Investment income / (loss) |
437,689 |
(12,301) |
|||||
| Rental income |
24,944 |
21,467 |
|||||
| Profit on deposits |
25,063 |
20,739 |
|||||
| Other income |
956 |
1,905 |
|||||
| Share of profit of an associate |
138,580 |
63,777 |
|||||
| Exchange gain / (loss) |
458 |
(1,715) |
|||||
| General and administration expenses |
(127,009) |
(108,487) |
|||||
|
——- |
——- |
||||||
|
500,681 |
(14,615) |
||||||
|
——- |
——- |
||||||
| Profit before tax |
622,783 |
143,061 |
|||||
| Profit for taxation – current |
(6,159) |
(20,833) |
|||||
| – deferred |
(17,772) |
(38,741) |
|||||
|
——- |
——- |
||||||
|
(23,931) |
(59,574) |
||||||
|
——- |
——- |
||||||
| Profit after tax |
598,852 |
83,487 |
|||||
|
——- |
——- |
||||||
| Earnings per share – basic and diluted (Rupees) |
4.79 |
0.87 |
For More Informatin Contact:
EFU General Insurance Limited
EFU House, M.A. Jinnah Rood.
P. O. Box 5005, Karachi- 74000.
Phones: 32313471 -90
Fax: 92-21-32310450
E-mail: info@efuinsuronce.com
Web: www.efuinsurance.com