East West Life Assurance Company Limited’s financial results for quarterly account for the period ended March 31, 2013

Karachi, June 03, 2013 (PPI-OT): We have to inform you that the Board of Directors of East West Life Assurance Company Limited (EWLA) in their meeting held on Friday, May 31, 2013 at 4:30 P.M. at 28, Regal Plaza, M.A. Jinnah Road Quetta, have approved the following:


The Financial results of the Company are as follows:                    For the Quarter Ended
                                                                    March 31st 2013    March 31st 2012
                                                                          All Amounts in Rupees

Operating Income
Premiums less reinsurances                                             37,609,624        66,906,533
Net investment income                                                   7,166,075         12,348 589
                                                                      -----------        -----------
Total net income                                                       44,775,699         79,255,122
Operating Expenses
Claims, including bonuses, net of reinsurance
recoveries                                                             41,219,535         49,135,100
Management expenses less recoveries                                    15,170,118         18,383,726
                                                                      -----------        -----------
Total Claims and Expenditure                                           56,389,653         67,518,826
                                                                      -----------        -----------
Excess of Income Over Claims and Expenditure                          (11,613,954)        11,736,296
Movement in Policyholder’s Liability                                   16,101,884        (20,304,938)
                                                                      -----------        -----------
Profit/ (Loss) before Taxation                                          4,487,930         (8,568,642)
Taxation                                                                 (690,527)          (975,089)
                                                                      -----------        -----------
Profit/ (Loss) after Taxation                                           3,797,403         (9,543,731)
Balance of appropriation account at beginning of period              (370,865,535)      (331,204,218)
Less: Appropriations                                                      NIL                NIL
                                                                      -----------        -----------
Balance of appropriation account at end of the period                (367,068,132)      (340,747,949)
                                                                      -----------        -----------
(Loss) per share                                                            (0.05)             (0.06)
                                                                      -----------        -----------

We will be sending you 300 copies of printed accounts for distribution amongst the members of the Exchange.

For more information, contact:
Sohail Nazeer
Company Secretary
East West Life Assurance Company Limited
310-EFU House, 3rd Floor,
M. A. Jinnah Road,
Karachi-74000, Pakistan
Tel: (021) 2311662/5,
Fax: (021) 2311667,
UAN: 111-EWL-111(111-395-111)
E-mail: info@eastwestlifeco.com
Website: www.eastwestlifeco.com

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