New Jubilee Life Insurance Company Limited’s condensed interim financial information for the half year ended June 30, 2011

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Karachi: We have to inform you that the Board of Directors of our Company in its 78th Board meeting held on August 24, 2011 at 10:00 hours at New Jubilee Life Building 74/I-A, Lalaza, Karachi, recommended the following:

 

i.	Cash Dividend	Nil
ii.	Any Other Entitlement / Corporate Action	Nil
iii.	Any Other Price – Sensitive Information	Nil

 

The financial results of the Company are as follows:

 

	(Rupees in million)
Description	Six Months	Three moths	Six Months	Three moths
	Period ended	Period ended	Period ended	Period ended
	30 June 2011	30 June 2011	30 June 2010	30 June 2010
Revenue:
Gross revenues net of reinsurance	3,638,531	1,927,894	2,512,758	1,252,110
Investment income and other income	738,124	361,846	432,612	112,891
	———	———	———	———
	4,376,655	2,289,740	2,945,370	1,365,001
	———	———	———	———
Expenses:
Claims including movement in policyholders’ liability	2,762,524	1,357,258	1,816,613	744,951
Management expenses	1,323,357	755,597	937,622	493,442
	———	———	———	———
	4,085,881	2,112,855	2,754,235	1,238,393
	———	———	———	———
Surplus Available in Revenue Account	290,774	176,885	191,135	126,608
Surplus transferred to Profit and Loss Account	180,000	110,000	80,000	40,000
Profit and (Loss) account before appropriation of surplus to Shareholder’s fund	41,239	14,978	(0.170)	(9,260)
	———	———	———	———
Profit before tax per profit and loss account	221,239	124,978	79,830	30,740
Income Tax	(81,063)	(43,063)	(29,500)	(16,060)
Profit / (loss) after tax per profit and loss account	140,176	81,915	50,330	14,680
	———	———	———	———
Earning per share (Rupee)	2.24	1.31	0.80	0.23

 

We hereby confirm that there is no observation / qualification of the auditors while reviewing these Condensed Interim Financial Information for the half year ended June 30, 2011.

 

For more information, contact:
Manzoor Ahmed
Chief Financial Officer and Company Secretary
New Jubilee Life Insurance Company Limited
New Jubilee Life Building 74/I-A,
Lalaza, Karachi – 74000
Pakistan
Tel: 35611071-5
Fax: 35610959
Email: info@njilife.com