Premier Insurance Co. of Pakistan Ltd. · PSX:PINL
Premier Insurance Co. of Pakistan — Premier Insurance — 9M 2022 Earnings Presentation
17 slides from Premier Insurance Co. of Pakistan's earnings presentation, Dec 28, 2022
Slide 1: Premier Insurance - Corporate Briefing Session notice
Premier Insurance December 21, 2022 The General Manager Pakistan Stock Exchange Limited Stock exchange Building Stock Exchange Road Karachi. Sub: CORPORATE BRIEFING SESSION — PREMIER INSURANCE LIMITED Dear Sir, This is to inform you that the Corporate Briefing Session (CBS) of Premier Insurance Limi
Slide 2: Premier Insurance Limited Corporate Briefing Session
Premier Insurance Limited Corporate Briefing Session Held on 28th December 2022
Slide 3: Contents
Contents Introductory Briefing Key Highlights – Profit & Loss Financial Performance, Portfolio & Segment Performance for the period ended Sep 30, 2022 Key Highlights – Balance Sheet Outlook
Slide 4: Introductory Briefing
Introductory Briefing • 1952 – Zahid Hussain, the 1st Governor of the State Bank of Pakistan brought together leading industrialists of the newly established country realizing the need for a Pakistani insurer – a crucial component for a young, burgeoning economy, this event set into motion the conce
Slide 5: Introductory Briefing
Introductory Briefing • Our business spans over the country, provides services to clients across all economic sectors and offers products in all classes of general insurance. • It is our historical practice of striving to achieve prompt settlement of even the largest claims that has allowed us to bu
Slide 6: Introductory Briefing
Introductory Briefing Commencement of Operations 1952 Head Quarters Karachi Major Shareholders 1) Crescent Powertech Limited 18% 2) State Life Insurance Corp. Of Pakistan 10% Credit Rating(Long Term) A+ Branches and offices 11 Cities Covered 07 Staff Strength Permanent 85 Contractual 08
Slide 7: Introductory Briefing
Introductory Briefing Company offers following facilities Branches Matrix Provinces No of Branches Fire and Property Damages Sindh 2 Punjab 7 Marine, Aviation and transport KPK 1 Federal territory 1 1 Motor Total 11 1 Miscellaneous 7 Engineering Energy 2 Health Bonds, Liability and Workmen Compensat
Slide 8: Key Highlights - Profit or Loss
Key Highlights - Profit or Loss Sep-22 Sep-21 Sep-20 Premium written 453,716 481,185 427,430 Net premium 212,116 177,777 143,563 Net Claim (211,754) (192,507) (81,633) Investment Income 26,287 134,778 34,633 Less: Impairment & (24,895) (1,833) (22,225) Expenses Net Investment income 1,392 132,945 12
Slide 9: Portfolio - Combined
Portfolio - Combined Sep-22 Sep-21 Misc Misc 9% 7% Fire 29% Fire 30% Health Health 35% 39% Marine Marine 8% 6% Motor Motor 18% 20% Miscellaneous Includes seral lines including Engineering, Bond, Travel, Liability and Workmen Compensation
Slide 10: Financial Performance for the period ended Sep 30, 2022 - Conventional
Financial Performance for the period ended Sep 30, 2022 - Conventional (Rupees in ‘000) Profit/(loss) statement Sep-22 Sep-21 Net Insurance Premium 212,116 177,777 Insurance claim & acquisition expenses (222,877) (209,021) Management Expenses (159,105) (158,173) Underwriting results (169,866) (189,4
Slide 11: Portfolio - Conventional
Portfolio - Conventional Sep-22 Sep-21 Misc Misc 11% 9% Fire Fire 35% 36% Health Health 35% 37% Marine Marine 9% Motor Motor 7% 11% 10% Miscellaneous Includes seral lines including Engineering, Bond, Travel, Liability and Workmen Compensation
Slide 12: Segment Performance - Conventional
Segment Performance Nine months Ended CONVENTIONAL 30-Sep-22 30-Sep-21 Fire Marine Motor Health Miscellaneous Total 2022 2021 2022 2021 2022 2021 2022 2021 2022 2021 2022 2021 ------------------------------------------------------------------------------------------------------------------Rupees in
Slide 13: Financial Performance for the period ended Sep 30, 2022 - Takaful
Financial Performance for the period ended Sep 30, 2022 - Takaful (Rupees in ‘000) Profit/(loss) statement Sep-22 Sep-21 Contribution earned 85,302 47,769 Less: Contribution ceded to retakaful (17,237) (11,398) Net Contribution 68,065 36,371 Re-takaful rebate 3,292 2,149 Net underwriting income 71,3
Slide 14: Portfolio - Takaful
Portfolio - Takaful Sep-22 Sep-21 Misc Fire Misc Fire 1% 7% Marine 2% 9% Marine 3% 4% Health 35% Health 44% Motor 45% Motor 50% Miscellaneous Includes seral lines including Engineering, Bond, Travel, Liability and Workmen Compensation
Slide 15: Segment Performance - Takaful
Segment Performance Nine months Ended TAKAFUL 30-Sep-22 30-Sep-21 Fire Marine Motor Health Miscellaneous Total 2022 2021 2022 2021 2022 2021 2022 2021 2022 2021 2022 2021 ------------------------------------------------------------------------------------------------------------------Rupees in '000
Slide 16: Key Highlights - Balance Sheet
Key Highlights - Balance Sheet Sep-22 Sep-21 Sep-20 Paid-up capital 505,650 505,650 505,650 Capital reserves 19,675 19,675 19,675 Revenue 504,198 795,973 593,612 reserves Total reserves 523,873 815,648 613,287 Total equity 1,029,523 1,321,298 1,118,937 Total assets 3,118,279 3,551,518 3,071,566
Slide 17: Outlook
OUTLOOK • The business outlook remains challenging as the economy grapples with hawkish monetary and fiscal policy regimes, aftermath of catastrophic floods, high inflation and an unfavorable global environment. • SBP has revised the FY23 GDP growth forecast down to 2%. • The continued uncertainty o