Century Insurance Company Limited’s financial results for the half-year ended 30 June 2011

Karachi: We have to inform you that the Board of Directors of the Company in their meeting held on Wednesday 24 August 2011 at 9:30 a.m., considered and approved the unaudited financial statements duly reviewed by the auditors of the Company for the half-year ended 30 June 2011.

The financial results of the Company are as per Annexure ‘A’ attached.

Annexure ‘A’

Condensed Interim profit and Loss Account (Un-audited) for the Three and Six Months period ended 30 June 2011.

Three months period ended 30 June 2011






aviation and




Miscellaneous30 June



30 June




Revenue account
Net premium revenue9,160,95814,971,64723,583,11913,570,94161,286,66555,027,123
Net claims(225,204)(2,351,438)(15,515,982)(4,145,168)(22,237,792)(28,902,798)
Expenses(10,638,745) (2,639,651)(2,437,113)(2,603,171)(18,318,680)(11,392,896)
Net commission 4,111,89820,349 (1,490,013)2,123,9192,123,9195,213,131
Underwriting result 2,408,90710,000,9074,140,0116,304,28722,854,11216,944,560
Net investment (loss)/ income(2,576,190)8,907,127
Other income – net2,772,5911,932,563
General and administrative expenses(15,289,332)(14,216,668)
Share of profit / (loss) of associates – net435,713(459,777)
Reversal in value of investment in associates 3,299,2803,813,129
———- ———-
Profit before tax11,496,17416,920,934
Taxation – net(4,680,400)(3,435,831)
Profit after tax6,815,77413,485,103



Six months period ended 30 June 2011


FireMarineMotorMiscellaneous30 June30 June
Andaviation and20112010
Revenue account
Net premium revenue16,705,45429,993,108 49,206,56522,103,017118,008,144117,181,633
Net claims (4,335,631)(2,990,540)(24,451,461)(8,164,316)(39,941,948)(53,076,042)
Net commission8,913,412(826,621)(2,841,532)(548,976)4,696,2838,568,284
———-———- ———- ——————-———-
Underwriting result 3,964,76520,001,53415,405,7868,366,75747,738,84243,867,038
Net investment (loss)/ income131,135,82628,620,590
Other income – net 4,922,934 4,144,671
General and administrative expenses (31,927,547)(28,252,865)
Share of profit / (loss) of associates – net 435,713 (459,777)
Reversal in value of investment in associates3,299,2803,813,129
Profit before tax37,605,04851,732,786
Taxation – Current (9,307,520) (11,071,187)
- deferred (873,812)175,711
Profit after tax27,423,716 40,837,310
Profit and loss appropriation account
Balance at commencement of the six months period131,365,19421,732,162
Profit after tax for the period27,423,71640,837,310
Final cash dividend of Re. 1 (10%) (2009: Nil) per share (45,724,366)-
Balance of unappropriated profit at end of the six months period113,064,54462,569,472
Basic earrings per share of Rs. 10 each0.60 0.89


For more information, contact:
Century Insurance Company Limited
Lakson Square, Building No. 2
Sarwar Shaheed Road,
Karachi-74200 Pakistan
Phone:- 3569 8000
Fax: 92-21-3568 3410