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

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 DividendNil
ii.Any Other Entitlement / Corporate ActionNil
iii.Any Other Price – Sensitive InformationNil

 

The financial results of the Company are as follows:

 

(Rupees in million)

Description Six MonthsThree mothsSix MonthsThree moths
Period endedPeriod endedPeriod endedPeriod ended
30 June 201130 June 2011 30 June 201030 June 2010
Revenue:
Gross revenues net of reinsurance 3,638,5311,927,894 2,512,7581,252,110
Investment income and other income738,124361,846432,612112,891
————————— ———
4,376,655 2,289,7402,945,3701,365,001
————————————
Expenses:
Claims including movement in policyholders’ liability2,762,5241,357,258 1,816,613744,951
Management expenses1,323,357 755,597937,622 493,442
—————— ——————
 4,085,8812,112,8552,754,2351,238,393
  ——— —————————
Surplus Available in Revenue Account 290,774176,885191,135126,608
Surplus transferred to Profit and Loss Account180,000110,00080,00040,000
Profit and (Loss) account before appropriation of surplus to

Shareholder’s fund

41,23914,978(0.170)(9,260)
 ——— —————— ———
Profit before tax per profit and loss account221,239124,97879,830 30,740
Income Tax(81,063)(43,063)(29,500)(16,060)
Profit / (loss) after tax per profit and loss account140,17681,91550,33014,680
————————————
Earning per share (Rupee)  2.241.31  0.800.23

 

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