A
SC/389/2025
Sales Tax Registration No. 03-09-9813-002-28
August 27, 2025
The General Manager
Pakistan Stock Exchange Limited Stock Exchange Building
Stock Exchange Road, Karachi.
Subject: Flnancial Results for the 2’d Quarter / Half Year ended June 30, 2025
Dear Sir,
We have to inform you that the Board of Directors of our Company, in their meeting held on August 27, 2025, at 11:00 a.m. at Federation House, Clifton, Karachi / video link, recommended the following:
CASH DIVIDEND
- BONUS SHARES
RIGHT SHARES
The required statements regarding Financial Position, Profit and Loss, Changes in Equity and Cash Flows are attached.
We will transmit the quarterly report on PUCARS within the stipulated time.
Yours Sincerely,
For Atlas Insurance Ljmited
Muhammad Afzal
Company Secretary
cc: The Director / HOD
Surveillance, Supervision and Enforcement Department Securities & Exchange Commission of Pakistan
NIC Building, 63Jinnah Avenue, Blue Area, Islamabad.
Atlas Insurance Ltd.
Rated ‘AA 7 PACRAZONxL OFFICk: Federati p House, Shahrab-e-Firdousi. Main Ci ifion, Kata0hi-75600 Phones: +9*(21 ) 3536 9394-6. 3537 88t16-7 UAN1 02 I • i I I -245‘000
HE.€D OWFICE: 63/A, H1ock-XX, Pbase• Ill tc• c e«ia9, Khayaban-e-IqbaJ. Defense Housing Aulhorily› Lahore. Pakistan PhOBm: *92 42) 37132611 -1 B
ATLAS INSURANC E LIMITE D
CON DENSED INTERIM STATEM ENT OF FINANCIAL POSITION (UNAUDI TED)
As AT KJ•4E 30, 1025
ASSETS
Property and equipment
EquHy securities
Debt securities
Loans and other receivables Insurance / reinsurance reccivabtcs
Reinsurancc recoveries against outstanding claims
Salvage recoveries accrued Retirement benefit assets
Deferred commission expense / acquisition cos!
Cesh and bank
Total assets oF W indow Takaful Operations - Participants' Tokaful Fund
TOTAL ASSETS
EQUITY AND £fABl Ef' l ES
Capital and reserves ali ri bu table io Company's equily holders
2025 2024 2023
{unavaituti x«aitw› lA•ai‹•a›
Restated Restated
(Rupees in th a+seand)
430,041 | 33 ] ,065 | ||
10.959.484 | 10.144.19a | 5,269,304 | |
1.845,046 | l.830,554 | I.637.296 | |
j0i,39l | 206.53g | i i2,052 | |
I , I 49,3S9 | 853,449 | 7Y4.440 | |
1.9fl5 | 1,9h5 | 7.285 | |
1 Iq | 3,3 i 6 | 5,439 | |
278.51 8 | 259. i 34 | I h7.675 | |
I ,218.544 | I , 165,4?7 | l ,202, 185 | |
1. i 76.963 | I.531 222 | I,544.843 |
18,297.053 17,5 10.236 12.83I , l7b
525.768 579,813 449.653
L46tL120 L399.684 1,018.609
20,282.941 l9,4h9.733 14,299,440
Reserves Unappropñaied profi1s
TOTAL EQUITY
LIABI UTI ES
Underu'ril ing provisions
Outstanding claims including IBNR
Premium deficiency reserves Unearned reinsuranc c com mission
Premium received in advanc c Insurance / reinsurance payadTc
Other creditors and accruals
Tanation - provision less pament
i .494, 157
6.29 I.735
6I8257
I .620,56Y | 1.602.585 | 2,42 I.191 |
I .g92, }4s | 2.203,567 | 2,067,J i 1 |
5.680 | 3.333 | |
276.475 | 26 I ,533 | 2 I I ,362 |
2.674.g78 | 2.367.&48 | 9fi6,245 |
338.907 | 464,693 | 447,465 |
Ig7.I33 | GB.303 | 7f',I82 |
3g3.925 | 664,922 | ¥39.3I2 |
],600,808 | T,695,66+J | I,I8S,€3'/ |
5fl5.359 | 301.26B | 57.hl I |
6.W,I 49
I ,494, 157
5. i 45.622
i ,537.607
8.167.386
l,494, I fi7
2.4 ) 9,880
856,9M
4.770,94 I
TOTAD clA 8ILITIES | 10,020.200 | 9.636,053 | F'.265,649 |
Total liabilities of Window TakaftH Operations - Operators Fund | 198.472 | 286.580 | 244.241 |
Toia I iiabilit ies and funds of Window Takaful Opcrutions - Panicipants' TaJcaful Fund | j,460, 120 | L399.684 | 1.018,609 |
TOTA c EQUITY AND cfABI cITf ES | 20,282,941 | 1g,489,733 | l4 2W 440 |
coxiixozscizs »Sn coxiuiiviExrs |
ATLAS lNSURANCE LI CITED
CONDENSED I ITERIM STATE 4ENT OF PROFIT AND OSS ACCOUNT (UNAUDTTED]
box THE srx uouTuS gERIOD ENDED JUNE 30, 2025
Forflñermonâsperiod
{469.184 | {349.858 | (230,51 g) | (I 86,498) |
5,680 | (5,665) | ||
61536 | 72251 | 45,693 | 40,876 |
2024
Net insurance premium | 1 655,748 | 1 375 970 | 836,640 | 727,069 |
Net insurance claims | ||||
Premium deficiency Net commission and oifier acquisition income | ||||
Insurance claims and acquisition expenses | (401,968) | (283,272) | (I 84,825) | (51287) |
Managment expenses | f635,098) | f557 169) | (320, l48) | (300,978) |
LlnJerwriting results | 618,682 | 535.529 | 33 I.667 | 274.804 |
InyesWent income | 645,333 | 719,766 | 424,536 | 499,594 |
Other iacome | 60.474 | 159,089 | 35.390 | 94,081 |
Otfier expenses | (48 053) | {26 6571 | (26,927) | (19,753) |
Results oFoperating activities | 1,276,436 | l,387,727 | 764,666 | g48,726 |
Finance costs | (I 1,275) | (5,709) | (6,0961 | 61 |
Profit beFore tax from Window Tukaful Operations | ||||
- Ogen‹or's Cmd | 61,056 | 68,500 | 30,580 | 33,606 |
Profit beFore W for the period | 1,326.217 | 1.450.518 | 789,1 S0 | 9B2.39J |
Income tax expense | (524,073) | (571,571) | (315,866) | (353,632) |
Pmfii efter m for ih< period | 802.14d | 878,947 | 473,284 | 528,761 |
Eni s• i›n« tax) per share - basic and diluted
5 37
—
5.88 3 17
3 54
Totel
Balance as at Dmember 31, 2023 (audited)
Pi'ofit for the period ended June 30, 2024
Other comprehensive intome for the period ended June 30, 2024
Total comprehensive incorric ter the for six mon@ period endca June 30, 2024 Transferred to gencnl reserve
Transaction with ownws recorded directly in equity
678,063
(Rnp*niniWow*»md)
1 494 157
T,S 5,625
901.255
678,063
87P,947
7,408
3.000
856.904
878,947
685,471
4 770,941
1,564,418
Final dividend for the year ended December 31, 2023 @ 30•Zc (Rs. 3 per share) {448,247)(44%247)
Belencc as at June 30, 2024 (unaudjted}
157
2, I 93,688 1,301,255
3,OOO
895,012 8 7 2
Balance as at December 3 I, 2024 (audited)
Pfofit lot the pcrioa mdJvn• 30.2025
1494 157
3 841 367
1301 255
3QOO
1 527 607
802,t44
8 167 386
802,144
Otfiw con pr•hmrivc income fbr the g •riod mded June 30, 2025
Total compzchm¥ive inconu for the for six momhs period ended june 30, 2025 Tzansfon-cd to genwT reserve
Tmnsacuon with owners worded directly in equity
531,113
S3I,1l3
65 O0
g02,T 44
(6 I5,000)
531 13
1,333,257
Final dividend for tote yer ended December 31, 2024 Q 60% (Rs. 6 per sham) (#96,494)(896.494)
Balance at at June 30, 2025 (uneiiaited)
7 4,372,480 9 25
3,000 #lW67 9
ATLAS INSURANCE LIh4ITED CONDENSED INTERIM CASB FLOW STATEMENT (UNAUDITED) FOR I'M SIS MONTHS PERIOD ENDED JUNE 30, 202S | ||||
2025 | 202a | |||
OPERATING CASH FLOWG | ||||
Insurance premium received | 2,676,161 | 3,759,953 | ||
Reinsurance premium paid | (1,528,I65) | (2,474,751) | ||
Claims paid | (1,109,426) | (975,879) | ||
Reinsurance and other recoveries received | 576,867 | 800,773 | ||
Commissions peid | (236,127) | (240,463) | ||
Commissions received | 386,200 | 337,140 | ||
Other underwriting payments | (28.056) | (16,110) | ||
Other undei‘writing receipts | 24,205 | d5,762 | ||
Management ezgsoscs paid | (582,965) | f546,024) | ||
Net cash genewted from uaderwtiting activities | 178,694 | 690,401 | ||
b) | ||||
Income tax paid | (253180) | (304,861) | ||
Other operating payments | (65,163) | (35,3B3) | ||
Othtr operating receipts | (62,524) | I9,326 | ||
Net Loan repayment / (advanced) | (289) | |||
Net cash used in other operating activities | (380,862) | f32l.207) | ||
Totai cash tused in) / generated from all opemting activities | (202 68) | 369,194 | ||
Dividend received Pameats for investments Proceeds from investments Operating assets purchased
Proceeds from sale of property and equipment
Total cash generated from / (used in) investing activities
175,467 337,703 (1,681,964) 1,979,864 (66,569) 8,896 | 216,330 341,128 (2,420,71 I) 1,938,432 (134,710) 22,661 |
753,397 (36,870)
FINANCING ACTIVITY US
Dividends paid
Payment of lease liability against right-of-use assets Total cash used in financing activities
Total cash used in all activities
Cash and cash equivalents at the beginning of period Cash and cesh equivalents at the end of period
(879,959)
25 529
(905,488)
(354,259)
1,531,222
1,176,963
(441534)
22,007
‹463,54 I)
(13l,2t7)
I,'i44,843
T,413,626
ATLAS INSURANCE LIMITED
CONDENSED ZENEIIIT CASII FLOW STATEMENT {UNAUDJTEDt FOR THE STX MONTHS PERIOD ENDED JUNE 30, 2025
Reconciliation to condensed interim statement of profit and lost
2025 20i4
(RupnMntho*ueuñ
Operating cash flows | (202,168) | 369T94 |
Depreciation of operating assets | (32,952) | (25,389) |
Depreciation of tight-of-use assets | (19.826) | (7,682) |
Gain on disposal of property and equipment | 34l | 1,509 |
Gain on disposal of right-of-use asset Finance cost | (M,275) | 136 (5.7M) |
Profit / (loss) on disposal of investments | 156,141 | 203,538 |
Dividend income | 337.703 | 341,128 |
Other and investment income | 211,622 | 332,544 |
Increase / (decrease) in assets other than cash | 280,663 | (247,561 ) |
Increase in liabilities other than borrowings Other adjustments | (142.688) | (I 30,234) |
(Increase) / decrease in provision for unearned premium | 211,419 | (16,566) |
(Increase) / decrease in commission income unearned | ( 14,942) | 1,669 |
(Decrease) / increase in provision for deferred corrunission expense | (10,616) | 31,01 I |
Profit from Window Takaful Operations for the period - Operator's fund | 38,722 | 41.359 |
Profit atter tax for the period | 802,t44 | 878,947 |