Century Insurance Company Limited
Half Yearly Report June 2023
(Un-audited)
Century Insurance at a Glance
- Century Insurance is a Lakson Group Company.
- Operating since 1989, dealing in all areas of general insurance and takaful business.
- One of the premier general insurance companies of Pakistan.
- Rated "AA" with a stable outlook by VIS Credit Rating Co. Limited, signifying a 'very strong capacity to meet policyholders' and contractual obligations.
- Total equity in excess of Rs. 2.4 billion.
- Twice awarded 'Top 25 Companies Award' by the Karachi Stock Exchange.
- Very strong reinsurance treaty arrangements with highly rated international reinsurers.
- Broad client base consisting of individuals as well as some of the most prestigious local and multinational companies.
Table of Contents
Financial Statement
Conventional Operations
Vision and Mission | 2 |
Corporate Information | 3 |
Directors' Review | 4 |
Directors' Review (Urdu) | 7 |
Report on review of Condensed Interim Financial Statements | 8 |
Condensed Interim Statement of Financial Position | 10 |
Condensed Interim Profit and Loss Account (Un-audited) | 12 |
Condensed Interim Statement of Comprehensive Income | 13 |
Condensed Interim Statement of Cash Flows | 14 |
Condensed Interim Statement of Changes in Equity | 16 |
Notes to and Forming Part of the Condensed Interim Financial Statements | 17 |
Financial Statement
Window Takaful Operations
Report on review of Condensed Interim Financial Statements | 38 |
Condensed Interim Statement of Financial Position | 40 |
Condensed Interim Profit and Loss Account (Un-audited) | 42 |
Condensed Interim Statement of Comprehensive Income | 43 |
Condensed Interim Statement of Cash Flows | 44 |
Condensed Interim Statement of Changes in Fund | 45 |
Notes to and Forming Part of the Condensed Interim Financial Statements | 47 |
2 Half Year Report June 2023
Corporate information
Board of Directors | Share Registrar |
Mr. Iqbal Ali Lakhani - Chairman | M/s. FAMCO Associates (Pvt) Ltd. |
Mr. Amin Mohammed Lakhani | 8-F, Near Hotel Faran, Nursery, |
Ms. Anushka Lakhani | Block-6, P.E.C.H.S., Shahra-e-Faisal, |
Mr. Aftab Ahmad | Karachi. |
Mr. Jawed Akhlaq | Tel: (021) 34380101-2 |
Mr. Atiq Anwar Mahmudi | Fax: (021) 34380106 |
Mr. Mohammad Hussain Hirji - Chief Executive | Email: info.shares@famco.com.pk |
Website: www.famco.com.pk | |
Advisor | |
Mr. Sultan Ali Lakhani | Bankers |
Al Baraka Bank (Pakistan) Limited | |
Chief Financial Officer | Askari Bank Limited |
Mr. Sabza Ali Pirani | Bank Alfalah Limited |
Bank Islami Pakistan Limited | |
Company Secretary | Dubai Islamic Bank Pakistan Limited |
Mr. Mansoor Ahmed | Habib Bank Limited |
Habib Metropolitan Bank Limited | |
Audit Committee | JS Bank Limited |
Mr. Atiq Anwar Mahumdi - Chairman | MCB Islamic Bank Limited |
Mr. Amin Mohammed Lakhani | Meezan Bank Limited |
Mr. Aftab Ahmad | NRSP Microfinance Bank Limited |
Silkbank Limited | |
Investment Committee | Soneri Bank Limited |
Mr. Iqbal Ali Lakhani - Chairman | Standard Chartered Bank (Pakistan) Limited |
Mr. Aftab Ahmad | Telenor Microfinance Bank Limited |
Mr. Mohammad Hussain Hirji | U Microfinance Bank Limited |
Mr. Sabza Ali Pirani | United Bank Limited |
Ethics, Human Resource & | Registered & Corporate Office |
Remuneration Committee | Lakson Square, Building No. 2, |
Mr. Jawed Akhlaq - Chairman | Sarwar Shaheed Road, Karachi-74200. |
Mr. Amin Mohammed Lakhani | |
Mr. Mohammad Hussain Hirji | Head Office |
11th Floor, Lakson Square, Building No. 3, | |
External Auditors | Sarwar Shaheed Road, Karachi-74200. |
M/s. BDO Ebrahim & Co | |
Chartered Accountants | Website: www.cicl.com.pk |
UAN: 111-111-717 | |
NTN: 0710008-6 |
Century Insurance Company Limited | 3 |
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