(ml 2AtlasInsurance
SC/139/2026
February 26, 2026
The General Manager
Pakistan Stock Exchange Limited Stock Exchange Building
Stock Exchange Road Karachi.
Subject: Financial Results for the year ended December 31, 2025
Dear Sir,
We have to inform you that the Board of Directors of our company, in their meeting held on February 26, 2026, at 10:00 am at Federation House, Clifton, Karachi / video link, recommended the following:
CASH DIVIDEND
A final Cash Dividend for the year ended December 31, 2025, at Rs. 6.00 per share i.e., 60%. This is in addition to the 25% interim dividend declared during the year 2025.
AND/OR
BONUS SHARES
NIL
RIGHT SHARES
NIL
AND/OR AND/ORANY OTHER ENTITELMENT / CORPORATE ACTION
NIL AND/OR
ANY OTHER PRICE SENSITIVE INFORMATION
To support the Company's growing paid-up share capital, the Board of Directors has recommended increasing the authorized share capital of the Company from the existing Rs. 1,500,000,000 (Rupees one billion five hundred million), divided into 150,000,000 (one hundred fifty million) shares of Rs. 10 (Rupees ten) each, to Rs. 3,000,000,000 (Rupees three billion), divided into 300,000,000 (three hundred million) shares of Rs. 10 (Rupees ten) each.
The recommendation will be presented to the shareholders for consideration at the forthcoming AGM.
The required statements regarding Financial Position, Profit and Loss, Changes in Equity and Cash Flows are attached.
Oi'FI CE:OF I I CPE:
Atlas Insurance Ltd.
a n c u
Rated 'AA' by PACRA
Federation I Iousc•, Shahrah-c•-Firdousi, Main Clifton, Karachi-75600 Phones: *92 (21) 353G 9394-6, 3537 5506-7 I rtN: 02 I - 1 I I -245-tJl10 Fax: +92 i 2 I ) 3537 8515
o3,'A, Block-XX. I'hase-111 (£ ommercial), Khayaban-e-Iqbol, Defence Housing Auihority, 1.ahore, Pak istan. Phones: +92 t42 ) 37 132G 11 -1S
t' ¥h: 04?- 11 I -245-(J00 Fax: +92 (42) 37132622 Email: info?‹i^ail atlus pk $Yebsilc: wu iv ail atlas pk N T.N. 239G345-II
2AtlasInsurance
The Annual General Meeting of the Company will be held on April 20, 2026, at 11:00 am at the Registered Office of the Company, situated at 63/A, Block-XX, Phase III (Commercial), Khyaban-e-lqbal, DHA, Lahore.
*The above entitlement will be paid to the shareholders whose names will appear in the Register of Members on April 05, 2026.
The Share Transfer Books of the Company will be closed from April 06, 2025, to April 20, 2026 (both days inclusive). Transfers received at company's share Registrar Office, Mls. Hameed Majeed Associates, H. M. House, 7 - Bank Square, Shahrah-e-Quaid-e-Azam, Lahore at the close of business on April 05, 2026, will be treated in time for the purpose of above entitlement to the transferees.
We will transmit printed accounts to the Exchange on PUCARS 21 days before the date of AGM.
Thanking You
Yours Sincerely,
For Atlas Insura ce Limited
Muhammad Afzal Company Secretary
C.C
The Executive Director / HOD, Offsite-II Department, Supervision Division,
Securities & Exchange Commission of Pakistan, 63, NIC Building, Jinnah Avenue,
Blue Area, Islamabad.
C. C
The Executive Director Insurance Division
Securities & Exchange Commission of Pakistan, 63, NIC Building, Jinnah Avenue,
Blue Area, Islamabad.
ZON AL
11I?ID
OFFI€'E:
Atlas Insurance Ltd.
Rated 'AA' by PACRA
Federation House, $hahrah-e-Firdousi, Muin Clitton. Karac hi-75600 Phones: *92 (21 ) 353b 939J-6, 3537 8806-7 I IN: 02 I - 11 1-245-t)f1tJ F;ix: +92 (2 1 ) 3537 85 15
63/A. Block-XX, Phase-111 tromnierclal), Khayaban-c-Iqbal. Defence Housing Authority, Lahore, Pakistan. Phones: +92 (42 ) 37 132G 11- 1S I tN' 042- II I -245-000 Fsx: +92 (42) 37 132622 Email: inioU ail atIns pk Website: use ail atlas pk N. 1 N. 3'7f›345-11
ATLAS INSURANCE LIMITED STATEMENT OF FINANCIAL POSITION AS AT DECEMBER 31, 2025
2025
2024
Restated
2023
Restated
(Rupees in thousand)
ASSETS
Property and equipment Investments | 527,730 | 331,065 | 230,136 |
Equity securities | 13,020,418 | 10,144,198 | 5,269,304 |
Debt securities | 3,032,079 | 1,830,554 | 1,537,296 |
16,052,497 | 11,974,752 | 6,806,600 | |
Loans and other receivables | 129,159 | 206,538 | 112,052 |
Insurance / reinsurance receivables | 1,221,128 | 853,449 | 774,440 |
Reinsurance recoveries against outstanding claims | 977,356 | 1,153,298 | 1,960,523 |
Salvage recoveries accrued | 1,985 | 1,985 | 7,285 |
Retirement benefit assets | 3,316 | 5,439 | |
Deferred commission expense / acquisition cost | 283,256 | 289,134 | 187,675 |
Prepayments | 1,433,806 | 1,165,477 | 1,202,185 |
Cash and bank 1,179,328 1,531,222 1,544,843 | |||
21,806,245 | 17,510,236 | 12,831,178 | |
Total assets of Window Takaful Operaions - Operator's Fund | 690,086 | 579,813 | 449,653 |
Total assets of Window Takaful Operations - Participants' Takaful Fund | |||
TOTAL ASSETS
EQUITY AND LIABILITIES
1,474,452 | 1,602,585 | 2,421, 191 |
2,431,410 | 2,203,567 | 2,067,111 |
5,680 | 3,333 | |
266,371 | 261,533 | 211,362 |
4,688 | ||
3,610,584 | 2,367,848 | 956,245 |
638,484 | 464,697 | 447,465 |
202,936 | 68,303 | 76,182 |
608,913 | 664,922 | 839,312 |
1,583,609 | 1,695,660 | 1,185,637 |
366,118 | 301,288 | 57,811 |
Capital and reserves attributable to Company's equity holders
1,869,982 1,399,684 1,018,609
24,366,313 19,489,733 14,299,440
Ordinary share capital | 1,494,157 | 1,494,157 | 1,494,157 |
Reserves | 7,773,085 | 5,145,622 | 2,419,880 |
Unappropriated profits 1,718,400 1,527,607 856,904
TOTAL EQUITY LIABILITIES
Underwriting provisions
Outstanding claims including IBNR Unearned premium reserves Premium deficiency reserves Unearned reinsurance commission
Retirement benefit obligations Deferred taxation
Premium received in advance Lease liabilities
Insurance / reinsurance payable Other creditors and accruals Taxation - provision less payment
10,985,642
8,167,386 4,770,941
TOTAL LIABILITIES | 11,187,565 | 9,636,083 | 8,265,649 | |
Total liabilities of Window Takaful | raions - Operator's Fund | 323,124 | 286,580 | 244,241 |
Total liabilities and balance of Window Takaful Operations -Participants' Takaful Fund | 1,869,982 | 1,399,684 | 1,018,609 | |
TOTAL EQUITY AND LIABILITIES | 24,366,313 | 19,489,733 | 14,299,440 | |
CONTINGENCIES AND COMMITMENTS | ||||
ATLAS INSURANCE LIMITED PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED DECEMBER 31, 2025
2025 2024
(1,053,706) | (777,217) |
5,680 | (2,347) |
123,132 | 108,119 |
Net insurance premium | 3,543,594 | 2,884,308 |
Net insurance claims | ||
Premium deficiency | ||
Net commission and other acquisition income | ||
Insurance claims and acquisition expenses | (924,894) | (671,445) |
Management expenses (1,413,474) (1,178,158) | ||
Underwriting results | 1,205,226 | 1,034,705 |
Investment income | 2,079,955 | 1,892,122 |
Other income | 133,291 | 284,067 |
Other expenses (127,527) (223,168) | ||
Results of operating activities | 3,290,945 | 2,987,726 |
Finance costs | (20,255) | (12,812) |
Profit before tax from Window Takaful Operations | ||
- Operator's fund 122,738 136,292 | ||
Profit before income tax Taxation
Profit after tax
Earnings (after tax) per share - basic and diluted
3,393,428 3,111,206
(1,316,641) (1,222,444)
2,076,787 1,888,762
Rupees
13.90 12.64
ATLAS INSURANCE LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED DECEMBER 31, 2025
Attributable to equity holders of the Company
Revenue reserves
Issued, subscribed Investment and paid-up share fair value
General Reserve
Investment
fluctuation
Unappropriated Total
profits
capital reserve reserve
- | 2,325,742 | 1,888,762 | 1,888,762 | ||
3,727 | 2,329,469 |
(Rupees in thousand)
Balance as at January 01, 2024 | 1.494,157 | 1,515,625 | 901,255 | 3,000 | 856,904 | 4,770,941 |
Profit for the year | ||||||
Other comprehensive income for the year | ||||||
Total comprehensive income for the year | 2,325,742 | 1,892,489 | 4,218,231 | |||
Transferred to general reserve Transactions with in their capacity as owners recognized directly in | 400,000 | (400,000) | - | |||
equity: | ||||||
Final dividend for the year ended December 31, 2023 @ 30% | ||||||
(Rs. 3.0 per share) | (448,247) | (448,247) | ||||
Interim dividend for the period ended September 30, 2024 @ | ||||||
25% (Rs. 2.5 per share) (373,539) (373,539)
Balance as at December 31, 2024
1,494.157 3,841,367 1,301,255
3,000
1,527,607 8,167,386
Profit for the year Other comprehensive income for the year | 2,012,463 | 2,076,787 | 2,076,787 | ||
(961) | 2,011,502 | ||||
Total comprehensive income for the year | - | 2,012,463 | 2,075,826 | 4,088,289 | |
Transferred to general reserve | 615,000 | (615,000) | |||
Transactions with in their capacity as owners recognized directly in | |||||
equity: Final dividend for the year ended December 31, 2024 @ 60% | |||||
(Rs. 6 per share) | (896,494) | (896,494) | |||
Interim dividend for the period ended September 30, 2025 @ |
25% (Rs. 2.5 per share) (373,539) (373,539)
Balance as at December 31, 2025 1,494,157 5,853,830 1,916,255 3,000 1,718,400 10,985,642
ATLAS INSURANCE LIMITED CASH FLOW STATEMENT FOR THE YEAR ENDED DECEMBER 31, 2025 | |||
2025 | 2024 | ||
(Rupees in | thousand) | ||
OPERATING CASH FLOWS | |||
a) Underwriting activities | |||
Insurance premium received | 7,196,127 | 6,493,331 | |
Reinsurance premium paid | (3,636,438) | (3,922,101) | |
Claims paid | (2,319,632) | (2,371,641) | |
Reinsurance and other recoveries received | 950,420 | 1,788,479 | |
Commissions paid | (579,782) | (564,723) | |
Commissions received | 804,136 | 723,718 | |
Other underwriting payments | (85,835) | (37,983) | |
Other underwriting receipts | 57,207 | 49,879 | |
Management expenses paid | (1,143,459) | (808,441) | |
Net cash generated from underwriting activities | 1,242,744 | 1,350,518 | |
b) Other operating activities | |||
Income tax paid | (1,247,849) | (1,000,016) | |
Other operating payments | (277,148) | (209,9d2) | |
Other operating receipts | 29,191 | 107,855 | |
Net loan advanced | (2,921) | (589) | |
Net cash used in other operating activities | (1,498,727) | (1,102,712) | |
Total cash (used in) / generated from all operating activities | (255,983) | 247,806 | |
INVESTMENT ACTIVITIES | |||
Profit / return received | 280,672 | 502,555 | |
Dividend received | 675,980 | 643,607 | |
Payments for investments | (6,912,493) | (5,482,471) | |
Proceeds from investments | 7,304,587 | 5,091,834 | |
Operating assets purchased | (157,303) | (199,074) | |
Proceeds from sale of property and equipment | 13,791 | 37,540 | |
Total cash generated from investing activities | 1,205,234 | 593,991 | |
FINANCING ACTIYITIES | |||
Dividends paid | (1,245,172) | (807,078) | |
Payment of lease liability against right-of-use assets | (55,973) | (48,340) | |
Total cash used in financing activities | (1,301,145) | (855,418) | |
Total cash used in all activities | (351,894) | (13,621) | |
Cash and cash equivalents at the beginning of year | 1,531,222 | 1,544,843 | |
Cash and cash equivalents at the end of year | 1,179,328 | 1,531,222 | |
Page
ATLAS INSURANCE LIMITED CASH FLOW STATEMENT FOR THE YEAR ENDED DECEMBER 31, 2025 | ||
2025 | 2024 | |
(Rupees in | thousand) | |
Reconciliation to profit and loss account | ||
Operating cash flows | (255,983) | 247,806 |
Depreciation of operating assets | (73,254) | (58,666) |
Depreciation of right-of-use assets | (42,379) | (34,582) |
Gain on disposal of property and equipment | 625 | 3,086 |
Gain on disposal of right-of-use asset | 911 | |
Finance cost | (20,255) | (12,812) |
Profit on disposal of investments | 1,106,811 | 898,610 |
Dividend income | 675,980 | 643,607 |
Other and investment income | 429,830 | 629,975 |
Increase / (decrease) in assets other than cash | 435,981 | (729,861) |
(Increase) / decrease in liabilities other than borrowings | (16,801) | 303,043 |
Other adjustments: | ||
Increase in provision for unearned premium | (227,843) | (136,456) |
Increase in commission income unearned | (4,838) | (50,171) |
(Decrease) / increase in provision for deferred commission expense | (5,878) | 101,459 |
Profit from Window Takaful Operations for the year - | ||
Operator's fund | 74,791 | 82,813 |
Profit after tax for the year | 2,076,787 | 1,888,762 |
'2AtlasInsurance
EXTRACT OF THE RESOLUTIONS PASSED IN THE BOARD OF DIRECTORS' MEETING HELD ON FEBRUARY 26, 2026
Resolved:
"that the final cash dividend at the rate of 60% (Rs.6.00 per share) be and is hereby recommended for payment to those shareholders, whose names shall appear in the register of the members at the close of business on April 05, 2026. This is in addition to 25% (Rs. 2.50 per share) interim dividend already paid."
Further Resolved:
"that the Company Secretary be and is hereby authorized to issue a certified true copy of above-mentioned resolution, as and when required."
CERTIFIED TRUE OPY
Atlas Insurance Ltd.
Rated 'AA' by PACRA
Federation House, Shahrah-e-Firdousi, Main Clitton, Karachi-75600. Phones: 92 (2 I ) 3536 9394-6, 3537 8506-7 I!.-U: 021 - 111 -245-tJ00Fax: +92 ( 21 ) 3537 8515
o3, A, Dlock-XX, Phase-111 (Commerci,i), Khayaban-e-lqbal, Defence Housing Authorily, Lalitire, l•ukistan. Phones: +92 (42) 37 l32G 11 -18 t!,iN: OJ2- 11 1-245-000 Fax: +92 (42) 37132622 Email: info o ail atlas.pk Welisite: s'i› iv ail atlas pk N T N. 23'7fa345-1)