Askari General Insurance Company Limited (AGIC) reported earnings per share of PKR 9.12 for CY24, compared to PKR 6.02 in CY23. Furthermore, in 2QCY25, the company reported earnings per share of PKR 2.10, compared to earnings per share of PKR 2.49 in the same period last year (SPLY). During HY25, gross premiums expanded meaningfully in several lines of business. Fire segment premiums grew by 38%,
Health by 32%, and Motor by 11%. In contrast, the Marine segment contracted from 26%, while Miscellaneous segment by 11%. For HY25, profit before tax (PBT) stood at PKR 551mn, of which PKR 423mn was contributed by investments and other income, while the remaining PKR 127mn stemmed from operations.
Underwriting income improved by 10% to PKR 98mn. Simultaneously, investment income posted a robust increase of 23%, underscoring strong portfolio returns. The portfolio composition in HY25 was led by Health with a 43% share, followed by Motor (22%), Fire (19%),
Miscellaneous (11%), and Marine (5%). SECP has mandated higher minimum paid-up capital requirements for insurance companies of PKR 1bn by 2026, PKR 1.5bn by 2028, and PKR 2bn by 2030. The company has reported claims arising from recent floods. While the actual claim volume is awaited, management expects these to remain within a manageable range.
Important Disclosures
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