Jubilee General Insurance Co. Ltd. · PSX:JGICL
Jubilee General Insurance — Investor Presentation (November 2023)
25 slides from Jubilee General Insurance's investor presentation, Nov 23, 2023
Slide 1: Corporate Briefing
Corporate Briefing 23th November 2023 111-654-111 | jubileegeneral.com.pk | info@jubileegeneral.com.pk
Slide 2: Company Overview
Company Overview 2
Slide 3: Our Presence in Pakistan
Our Presence in Pakistan Company was incorporated in 1953; 70 years experience in handling all classes of general insurance business. One of the top three insurance companies in Pakistan. Exclusive Network Partner of AIG Global and Factory Mutual Insurance Co. (USA) taking care of local placements o
Slide 4: Geographical Footprint
Geographical Footprint Geographical Footprint Comments JUBILEE HAS PRESENCE IN THE FOLLOWING COUNTRIES: • Pakistan • Kyrgyzstan • Kenya • Uganda • Burundi • Tanzania • Mauritius
Slide 5: Our Sponsors
Our Sponsors JUBILEE IS PART OF THE AGA KHAN DEVELOPMENT NETWORK (AKDN): The Company’s major shareholders are1: • Aga Khan Hospital and Medical College Foundation (20.60%); • Aga Khan University Foundation (3.65%); • Habib Bank Limited (19.80%); • Aga Khan Fund for Economic Development (14.05%); and
Slide 6: Our Ratings
Our Ratings JUBILEE ENJOYS GOOD CREDIT HEALTH WHICH HAS ALSO BEEN ENDORSED BY RENOWNED CREDIT RATING AGENCIES: Credit Ratings Comments • Accorded the Financial Strength Rating of “B” (Fair) and issuer credit rating of “BB+” (Fair) by A. M. Best which are the highest ratings given to insurers in Paki
Slide 7: Recent Awards & Achievements
Recent Awards & Achievements •Corporate Excellence Award in Financial Category (Best Management Association of Pakistan Company) for 2016, 2017, 2018, 2020, 2021 and 2022 •Best Corporate Report Award for 2009, 2010, 2011, 2016, 2017, ICAP and ICMAP 2018 and 2019 in NBFI/Insurance category •Gold Meda
Slide 8: MY Jubilee – Pakistan's First End-to-End Motor Insurance App
MY Jubilee – Pakistan's First End-to-End Motor Insurance App • Jubilee is the first insurer in Pakistan to launch the ‘end-to-end’ motor insurance app with complete/continuous digital loop for both policy issuance as well as claims settlement. • Policy Issuance: The customers can purchase motor insu
Slide 9: Financial Performance
Financial Performance 9
Slide 10: Performance Highlights – Combined
Performance Highlights – Combined as at September 30, 2023 Un-Audited % Change Description 9M 2023 9M 2022 YoY ----Rs in million---- Combined Gross Written Premium (GWP) 17,066 12,675 35% Combined Net Premium 6,489 5,111 27% Combined Net Claims 3,694 3,105 19% Underwriting Results (Technical Profit)
Slide 11: Portfolio Mix (Combined Gross Written Premium)
Portfolio Mix (Combined Gross Written Premium) 9M 2023 9M 2022 Misc. Misc. 19% 17% Fire Fire 43% 41% Accident & Accident & Health Health 15% 16% Liability Liability 3% 3% Motor Marine Motor Marine 13% 7% 15% 8% 11 * Miscellaneous Includes several lines including Engineering, Bonds, Financial Lines,
Slide 12: Performance Highlights – Combined
Performance Highlights – Combined as at December 2022 % Change Description 2022 2021 YoY ----Rs in million---- Combined Gross Written Premium (GWP) 14,798 12,005 23% Combined Net Premium 6,965 6,318 10% Combined Net Claims 4,118 3,566 15% Underwriting Results (Technical Profit) 465 629 -26% Investme
Slide 13: Outlook
Outlook • The economic situation seems to have improved in recent months owing to efforts towards fiscal consolidation and administrative stabilization. • Timely completion of the latest IMF Review and clarity regarding the next general elections have also improved business confidence. • While the i
Slide 14: Our Strategic Priorities
Our Strategic Priorities Enhancing underwriting Process Reengineering End-to-End Digitalization Digital Retail Insurance capabilities Market Development 14
Slide 15: Annexure
Annexure 15
Slide 16: Performance Highlights – Conventional
Performance Highlights – Conventional as at September 30, 2023 Un-Audited % Change Description 9M 2023 9M 2022 YoY ----Rs in million---- Gross Written Premium (GWP) 15,151 11,271 34% Net Premium 5,239 4,182 25% Net Claims 2,880 2,579 12% Underwriting Results 617 62 895% Investment Income 2,475 1,398
Slide 17: Performance Highlights – Takaful
Performance Highlights – Takaful as at September 30, 2023 Un-Audited % Change Description 9M 2023 9M 2022 YoY ----Rs in million---- Gross Written Premium (GWP) 1,915 1,404 36% Net Premium 1,250 929 35% Net Claims 814 526 55% Underwriting Results 164 161 2% Investment Income 176 59 198% Profit Before
Slide 18: Performance Highlights – Conventional
Performance Highlights – Conventional as at December 2022 % Change Description 2022 2021 YoY ----Rs in million---- Gross Written Premium (GWP) 13,057 10,614 23% Net Premium 5,689 5,197 9% Net Claims 3,386 2,860 18% Underwriting Results (Technical Profit) 249 512 -51% Investment Income 1,846 1,564 18
Slide 19: Performance Highlights – Takaful
Performance Highlights – Takaful as at December 2022 % Change Description 2022 2021 YoY ----Rs in million---- Gross Written Premium (GWP) 1,741 1,391 25% Net Premium 1,276 1,121 14% Net Claims 732 706 4% Underwriting Results (Technical Profit) 216 117 85% Investment Income 109 52 110% Profit Before
Slide 20: Balance Sheet
Balance Sheet Amounts in PKR million 9M 2023 2022 2021 2020 2019 2018 2017 Investment - at carrying value 18,551 16,016 15,060 14,586 13,270 11,564 11,371 Investement & Property - (at book value) 631 635 641 646 651 657 659 Cash and Bank 3,068 3,057 2,160 1,176 1,343 1,839 2,042 Other Assets - Curre
Slide 21: Operating Data (Underwriting)
Operating Data (Underwriting) Amounts in PKR million 9M 2023 2022 2021 2020 2019 2018 2017 CONVENTIONAL Gross Premium Revenue 15,151 13,057 10,614 9,110 9,375 9,161 7,694 Net Premium Revenue 5,239 5,689 5,197 4,959 5,279 4,923 4,611 Net Claims 2,880 3,386 2,860 3,058 2,828 2,691 2,450 Management Exp
Slide 22: Operating Data
Operating Data Amounts in PKR million 9M 2023 2022 2021 2020 2019 2018 2017 Inves tment Income 2,475 1,846 1,564 1,874 1,134 1,188 1,041 Profit Before Taxation 3,434 2,470 2,330 2,114 1,725 1,631 1,664 Taxation - Net -1,470 -936 -681 -581 -501 -565 -547 Profit After Taxation 1,965 1,534 1,649 1,533
Slide 23: Financial Ratios and Analytics (1/3)
Financial Ratios and Analytics (1/3) 9M 2023 2022 2021 2020 2019 2018 2017 PROFITABILITY (COMBINED) Underwriting Res ults / Gros s Premium & Contribution % 4.07 1.91 5.24 1.00 4.11 3.67 6.02 Underwriting Res ults / Gros s Premium & Contribution % 11.78 4.38 9.94 1.74 7.02 6.55 9.83 Combined ratio %
Slide 24: Financial Ratios and Analytics (2/3)
Financial Ratios and Analytics (2/3) 9M 2023 2022 2021 2020 2019 2018 2017 2016 MARKET DATA Face Value (Per Share) Rs . 10.00 10.00 10.00 10.00 10.00 10.00 10.00 10.00 Market Price per s hare at the end of the year Rs . 27.02 27.00 42.70 47.10 54.01 60.01 80.00 108.50 Market Price per s hare - Highe
Slide 25: Financial Ratios and Analytics (3/3)
Financial Ratios and Analytics (3/3) 9M 2023 2022 2021 2020 2019 2018 2017 PERFORMANCE / LIQUIDITY Current Ratio Times 1.40 1.43 1.59 1.66 1.62 1.55 1.74 Liquid Ratio Times 0.75 0.88 1.08 1.17 1.12 1.02 1.24 Cash / Current Libilities % 9.96 14.22 13.55 8.70 10.27 13.94 18.82 Total Assets Turnover Ti
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