Transmission of quarterly report for the quarter ended 31 march 2026

Century Insurance Company Limited

Your Trust

Quarterly Report March 2026 (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 Company Limited, signifying a 'very strong capacity to meet policyholders' and contractual obligations.

• Total equity in excess of Rs. 3.4 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

  Condensed Interim Statement of Financial Position 8

  Condensed Interim Profit and Loss Account (Un-audited) 9

  Condensed Interim Statement of Comprehensive Income 10

  Condensed Interim Statement of Cash Flows 11

  Condensed Interim Statement of Changes in Equity 12

  Notes to and Forming Part of the Condensed Interim Financial Statements 13

  Financial Statement Window Takaful Operations

  Condensed Interim Statement of Financial Position 28

  Condensed Interim Profit and Loss Account (Un-audited) 29

  Condensed Interim Statement of Comprehensive Income 30

  Condensed Interim Statement of Cash Flows 31

  Condensed Interim Statement of Changes in Fund 32

  Notes to and Forming Part of the Condensed Interim Financial Statements 34

  2 Quarterly Report March 2026

  Our Vision

  To be an organization known for integrity and ethical behavior and fully dedicated to its Clients, Business Partners, Shareholders and Employees, providing exceptional quality service and committed to achieving excellence in all areas of its operations.

  Our Mission

  • To become a company of choice for its valued Clients, Stockholders and Employees.

  • and resilience of the company so that it may be able to withstand any unexpected shocks or cyclical economic downturns.

  • The Company culture to be known for Integrity and Ethical behavior.

  • The Company to be known as one of the best insurance companies of the country.

Board of Directors

Mr. Iqbal Ali Lakhani - Chairman Mr. Amin Mohammed Lakhani Ms. Anushka Lakhani

Mr. Aftab Ahmad

Mr. Atiq Anwar Mahmudi Mr. Jawed Akhlaq

Mr. Muhammad Hussain Hirji - Chief Executive

Advisor

Mr. Sultan Ali Lakhani

Chief Financial Officer

Mr. Nawaid Jamal

Company Secretary

Mr. Mansoor Ahmed

Audit Committee

Mr. Atiq Anwar Mahmudi - Chairman Mr. Amin Mohammed Lakhani

Mr. Aftab Ahmad

Investment Committee Mr. Iqbal Ali Lakhani - Chairman Mr. Aftab Ahmad

Mr. Muhammad Hussain Hirji Mr. Nawaid Jamal

Ethics, Human Resource & Remuneration Committee Mr. Jawed Akhlaq - Chairman Mr. Amin Mohammed Lakhani Mr. Muhammad Hussain Hirji

Sustainability Committee Mr. Jawed Akhlaq - Chairman Ms. Anushka Lakhani

Mr. Muhammad Hussain Hirji

External Auditors M/s. BDO Ebrahim & Co. Chartered Accountants

Shares Registrar

M/s. FAMCO Share Registration Services (Pvt.) Ltd 8-F, Near Hotel Faran, Nursery,

Block-6, P.E.C.H.S., Shahra-e-Faisal, Karachi. Tel: (021) 3438 0101-5

Fax: (021) 3438 0106

Email: info.shares@famcosrs.com Website: https://www.famcosrs.com

Bankers

Al Baraka Bank (Pakistan) Limited Askari Bank Limited

Bank Alfalah Limited

Bank Islami Pakistan Limited

Dubai Islamic Bank Pakistan Limited Habib Bank Limited

Habib Metropolitan Bank Limited JS Bank Limited

MCB Islamic Bank Limited Meezan Bank Limited

NRSP Microfinance Bank Limited Samba Bank Limited

Soneri Bank Limited

Standard Chartered Bank (Pakistan) Limited Telenor Microfinance Bank Limited

U Microfinance Bank Limited United Bank Limited

Registered & Corporate Office

Lakson Square, Building No. 2,

Sarwar Shaheed Road, Karachi-74200.

Head Office

11th Floor Lakson Square, Building No. 3, Sarwar Shaheed Road, Karachi-74200.

Website: https://www.cicl.com.pk UAN: 111-111-717

NTN: 0710008-6

On behalf of the Board of Directors, we are pleased to present to you the unaudited financial statements for the first quarter ended 31 March 2026.

General Review

The overall operational performance of the Company has remained steady for the three-month period ended 31 March 2026. Gross written premium (inclusive of takaful contribution) has increased by Rs. 50 million (10%) to Rs. 575 million whereas net premium has increased by Rs. 29 million (7%) to Rs. 427 million. Underwriting profit has been reported at Rs. 63 million (2025: Rs. 67 million) due to slight increase in reported claims. There is a loss of Rs. 34 million in investment and other income in comparison to income of Rs 103 million in same period last year, mainly due to significant decline in the equity market during the first quarter.

Operating Results

The comparative financial highlights for the first quarters ended 31 March 2026 and 31 March 2025 are presented below:

Description

Gross Written Premium (including Takaful Contribution)

Rs. In Millions (except otherwise stated)

Increase / (Decrease)

Window Takaful Operations Participant Takaful Fund (PTF)

The gross written contribution for the first quarter ended 31 March 2026 is Rs. 89 million as compared to Rs. 73 million for the same period last year. Net contribution revenue is Rs. 16 million and the surplus for the first quarter ended 31 March 2026 is Rs. 14 million (2025: Rs. 5 million)

Operator's Fund (OPF)

Gross wakala fee income for the first quarter ended 31 March 2026 is Rs. 39 million (2025: Rs. 36 million). Profit before tax from Window Takaful Operation is Rs. 13 million (2025: 13 million).

Future Outlook

Due to recent developments in the Gulf region, the business environment has become challenging and uncertain. Nevertheless, the management is making concerted efforts to increase market share and profitability and the business of the Company is expected to continue to grow at a steady pace.

Acknowledgments

We wish to place on record our appreciation of the efforts of all the employees of the company in enabling its growth and success. We are also grateful to our clients for their patronage, to the Securities & Exchange Commission of Pakistan (SECP) for its guidance as regulator of the insurance industry and to our reinsurers and shareholders for their trust and confidence in the company.

Iqbal Ali Lakhani

Mohammad Hussain Hirji

Chairman Director & Chief Executive

Karachi: 28 April 2026

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(Un-audited) (Audited)

March 31, December 31,

2026 2025

Note --------------(Rupees) -------------

Total assets of Window Takaful Operations -Participants' Takaful Fund

15.2 662,296,289 664,276,045

Century Insurance Company Limited 9

Condensed Interim Profit and Loss Account (Un-audited)

For the three months period ended March 31, 2026

(Un-audited)

March 31,

2026 2025

Note (Rupees)

The annexed notes from 1 to 29 form an integral part of these condensed interim financial statements.

(Un-audited)

March 31,

2026 2025

(Rupees)

Profit after tax 20,851,790 108,912,688

Other comprehensive income

Item to be reclassified to profit and loss account in subsequent period:

Unrealised (diminution) / appreciation 'available for sale' investments - net of tax

Reclassification adjustment for net gain on

available for sale investments included in profit and loss account - net of tax

Unrealised appreciation on 'available for sale' investments of Window Takaful Operations - net of tax

Reclassification adjustment for net gain on

available for sale investments included in profit and loss account of Window Takaful Operations - net of tax

(58,914,668) 2,891,799

2,666,928 3,166,224

Total comprehensive income for the period (35,395,950) 114,970,711 The annexed notes from 1 to 29 form an integral part of these condensed interim financial statements.

Century Insurance Company Limited 11

Condensed Interim Statement of Cash Flows (Un-audited)

For the three months period ended March 31, 2026

Operating cash flows

(Un-audited)

March 31, March 31,

2026 2025

Note (Rupees)

The annexed notes from 1 to 29 form an integral part of these condensed interim financial statements.

For the three months period ended March 31, 2026

Attributable to equity holders of the Company

Share capital Capital reserves Revenue reserves

Issued, subscribed and paid-up

Share premium

General reserve

Unrealised appreciation

/ (diminution) 'available for sale' investments

(Rupees)

Retained earnings

Total

Balance as at January 01, 2025 553,264,840 254,024,260 119,000,000 192,395,677 2,144,039,986 3,262,724,763

Total comprehensive income

Profit after tax for the three months period

Net unrealised loss arising during the period on revaluation of available for sale investments (including WTO) net of tax

Reclassification adjustment for net gain on available for sale investments included in profit and loss account (Including WTO) net of tax

Total comprehensive income - - - 6,058,023 108,912,688 114,970,711

Balance as at March 31, 2025 553,264,840 254,024,260 119,000,000 198,453,700 2,252,952,674 3,377,695,474

Balance as at January 01, 2026 553,264,840 254,024,260 119,000,000 166,684,997 2,358,487,185 3,451,461,282

Total comprehensive income

Profit after tax for the three months period

Net unrealised loss arising during the period on revaluation of available for sale investments (including WTO) net of tax

Reclassification adjustment for net gain on available for sale investments included in profit and loss account (Including WTO) net of tax

Total comprehensive (loss) / income - - - (56,247,740) 20,851,790 (35,395,950)

Balance as at March 31, 2026 553,264,840 254,024,260 119,000,000 110,437,257 2,379,338,975 3,416,065,332

The annexed notes from 1 to 29 form an integral part of these condensed interim financial statements.

Notes to the Condensed Interim Financial Statements (Un-audited)

For the three months period ended March 31, 2026

1. STATUS AND NATURE OF BUSINESS

   Century Insurance Company Limited (the Company) is a public limited company incorporated in Pakistan on October 10, 1985 under the repealed Companies Ordinance, 1984 (now Companies Act 2017). The Company is listed on the Pakistan Stock Exchange Limited and is engaged in general insurance business. The registered office of the Company is situated at Lakson Square Building No. 2, Sarwar Shaheed Road, Karachi.

   The Company was granted authorization on August 07, 2017 under Rule 6 of the Takaful Rules, 2012 to undertake Window Takaful Operations by Securities and Exchange Commission of Pakistan (SECP) and under Takaful Rules, 2012 to carry on general takaful operations in Pakistan. The Company has formed a Waqf for Participants' Fund ("PTF") by executing the Waqf deed dated August 17, 2017. The Company commenced its activities of Window Takaful Operations on August 18, 2017.

2. BASIS OF PREPARATION AND STATEMENT OF COMPLIANCE

   1. These condensed interim financial statements has been prepared in accordance with the accounting and reporting standard as applicable in Pakistan for interim financial reporting. The accounting and reporting standards as applicable in Pakistan for interim financial reporting comprise of:

      • International Accounting Standard (IAS) 34, Interim Financial Reporting, issued by the International Accounting Standards Board (IASB) as notified under the Companies Act, 2017; and

      • Provisions of and directives issued under the Companies Act, 2017 and Insurance Ordinance, 2000, Insurance Rules 2017, Insurance Accounting Regulations 2017 ,Takaful Rules 2012 and General Takaful Accounting Regulations, 2019.

        In case requirements differ, the provisions or directives of the Companies Act, 2017, the Insurance Ordinance, 2000, the Insurance Rules, 2017, the Insurance Accounting Regulations, 2017, the Takaful Rules, 2012 and General Takaful Accounting Regulations, 2019 shall prevail.

        In terms of the requirements of The General Accounting Regulation, 2019, read with SECP SRO 1416(I)/2019 dated November 20, 2019, the assets, liabilities and profit and loss of the Operator's Fund of the Window Takaful Operations (WTO) of the Company have been presented as a single line item in the balance sheet and profit and loss account of the Company respectively.

3. BASIS OF MEASUREMENT

   These condensed interim financial statements have been prepared under histrorical cost except for certain investment which are stated at their fair value.

4. ACCOUNTING POLICIES

   The accounting policies and methods of computation followed in these condensed interim financial statements are same as compared with the annual financial statements of the Company as at and for the year ended December 31, 2025.

   Notes to the Condensed Interim
   
   Financial Statements (Un-audited)
   
   For the three months period ended March 31, 2026
   
   

5. ESTIMATES AND JUDGMENTS

   The preparation of condensed interim financial statements requires management to make judgments, estimates and assumptions that affect the application of accounting policies and the reported amounts of assets and liabilities, income and expense. Actual results may differ from these estimates. Estimates and underlying assumptions are reviewed on an ongoing basis. Revision to estimates are recognised prospectively. In preparing these condensed interim financial financial statements the significant judgments made by management in applying the Company's accounting policies and the key sources of estimation uncertainty were the same as those that applied to the financial statements as at and for the year ended December 31, 2025.

6. INSURANCE AND FINANCIAL RISK MANAGEMENT

   The insurance and financial risk management objectives and policies are consistent with those disclosed in the annual financial statements of the Company as at and for the year ended December 31, 2025.

7. PREMIUM DEFICIENCY RESERVE

   No provision has been made as the unearned premium reserve for each class of business at period end is adequate to meet the expected future liability after reinsurance from claims and other expenses, expected to be incurred after the balance sheet date in respect of policies in force at the reporting date.

8. PROPERTY AND EQUIPMENT (Un-audited) (Audited)

March 31, December 31,

2026 2025

Note --------------(Rupees) -------------

(Un-audited) (Audited)

March 31, December 31,

2026 2025

--------------(Rupees) -------------

(December 31, 2025: Rs. 19,356,477 and Century Board & Paper Mills Limited of Rs. 56,279,400 (December 31, 2025: Rs. 56,279,400).

1. INVESTMENTS

   1. Investments in equity March 31, 2026 (Un-audited) December 31, 2025 (Audited)

      Cost Unrealised gain / (loss) on

      revaluation

      Carrying value Cost Unrealised gain / (loss) on

      revaluation

      Carrying value

      75,283		-		75,283		75,283
      166,915,956		11,158,507		178,074,463		165,418,431

      -		75,283
      8,738,398		174,156,829

      Note (Rupees)

      	Available for sale 10.1.1	856,801,558		158,576,473		1,015,378,031		702,922,231		219,176,610		922,098,841
      	Held for trading	540,984,848		(92,967,045)		448,017,803		447,619,000		142,726,039		590,345,039
      		1,397,786,406		65,609,428		1,463,395,834		1,150,541,231		361,902,649		1,512,443,880
      10.1.1	Available for sale
      	Related parties Mutual funds	689,810,319		147,417,966		837,228,285		537,428,517		210,438,212		747,866,729
      	Others
      	Unlisted shares Mutual funds
      		166,991,239		11,158,507		178,149,746		165,493,714		8,738,398		174,232,112
      		856,801,558		158,576,473		1,015,378,031		702,922,231		219,176,610		922,098,841

      Notes to the Condensed Interim
      
      Financial Statements (Un-audited)
      
      For the three months period ended March 31, 2026
      
      

   2. Investments in debt March 31, 2026 (Un-audited) December 31, 2025 (Audited)

      securities Cost Unrealised gain / (loss) on

      revaluation

      Carrying value

      Cost Unrealised gain / (loss) on

      revaluation

      Carrying value

      Held for trading Government securities		634,991,778		(3,868,235)		631,123,543		831,190,543		20,239,197		851,429,740
      Held to maturity Government securities	10.2.1	29,915,399		-		29,915,399		29,905,760		-		29,905,760
      Available for sale
      Sukuk Term finance certificate Government securities	10.2.1
      		1,584,200,386		8,684,299		1,592,884,685		1,307,009,571		44,665,585		1,351,675,156
      		2,249,107,563		4,816,064		2,253,923,627		2,168,105,874		64,904,782		2,233,010,656

      Note (Rupees)

      25,000,000		-		25,000,000		25,000,000		-		25,000,000
      87,915,200		-		87,915,200		237,645,200		-		237,645,200
      1,471,285,186		8,684,299		1,479,969,485		1,044,364,371		44,665,585		1,089,029,956

      1. This includes securities which are placed with State Bank of Pakistan as statutory deposit in accordance with the requirement of clause (a) of sub section 2 of section 29 of the Insurance Ordinance, 2000.

      2. The market value of held to maturity debt securities is Rs. 29.979 million (2025: Rs. 30.099 million).

(Un-audited) (Audited)

March 31, December 31,

2026 2025

--------------(Rupees) -------------

1. CASH AND BANK

   Cash and cash equivalents

   (Un-audited) (Audited)

   March 31, December 31,

   2026 2025

   Note --------------(Rupees) -------------

   Cash in hand 643,553 655,000

   Policy stamps and bond papers in hand 1,563,502 3,462,490

   2,207,055 4,117,490

   Current and other accounts

   Current accounts 14.1

   Saving accounts

   209,514,542 236,590,547

   23,479,117

   213,111,430

211,721,597 240,708,037

Profit before tax for the period 12,704,161 12,983,076

Details of assets and liabilities and segment disclosures of Window Takaful Operations are stated in annexed condensed interim financial statements.

The status of contingencies remain unchanged as disclosed in annual financial statements for the year ended December 31, 2025.

19. NET INSURANCE PREMIUM (Un-audited)

Three month period ended

March 31, March 31,

2026 2025

--------------(Rupees) -------------

Less: Reinsurance and others recoveries received

Add: Reinsurance and others recoveries in respect of outstanding claims closing

Less: Reinsurance and others recoveries in respect

of outstanding claims opening

Reinsurance and other recoveries revenue 111,983,277 97,222,909

226,020,667 205,168,110

Less: Deferred commission expense closing 40,397,649 39,794,850 Net commission 27,853,159 26,621,108

Less: Commission received or recoverable

Add: Unearned Reinsurance commission opening Less: Unearned Reinsurance commission closing

Commission from reinsurers 46,443,618 45,510,884

(18,590,459) (18,889,776)

1. INVESTMENT INCOME (Un-audited)

   Three months period ended

   March 31, March 31,

   2026 2025

   --------------(Rupees) -------------

   Income from equity securities Available-for-sale

   Dividend income 13,750 267

   Held for trading

   Dividend income 8,856,032 7,971,988

   Income from debt securities Held to maturity

   Return on government securities 871,029 1,226,807

   35,152,729	37,513,917
   5,383,260	11,344,855

   Available-for-sale

   Return on government securities

   Return on other fixed income securities and deposits

   Held for trading

   40,535,989 48,858,772

   Return on government securities 21,494,334 26,932,422

   13,014,817	2,043,018
   9,810,396	5,677

   Net realised gains on investments Available for sale

   • Gain on sale of equity securities

   • Gain on sale of debt securities

     Fair value through profit or loss

   • Loss on sale of equity securities

   • Loss on sale of debt securities

   at fair value through profit and loss (Held for trading purposes)
   - Equity securities	(92,967,045)	15,101,769
   - Debt securities	(3,868,235)	(785,785)
   	(96,835,280)	14,315,984
   Total investment income	(38,364,207)	99,125,416
   Add: Reversal of impairment in debt securities Held to maturity	15,564	15,564
   Less: Investment related expenses	(4,157,306)	(2,912,043)
   Investment (loss) / income	(42,505,949)	96,228,937

   Net unrealised gain / (loss) on investments

   22,825,213 2,048,695

   (25,892,425)	(2,229,519)
   (10,232,849)	-

   (36,125,274) (2,229,519)

2. OTHER INCOME

   Income from financial assets / liabilities

   (Un-audited)

   Three months period ended

   March 31, March 31,

   2026 2025

   --------------(Rupees) -------------

   Return on bank balances	7,029,794	6,270,456
   Others	2,251	75,400
   Income from non-financial assets Gain on sale of fixed assets	1,341,623	93,130

   8,373,668 6,438,986

3. EARNINGS PER SHARE - BASIC

   Profit after tax for the period 20,851,790 108,912,688 (Numbers)

   Weighted average number of ordinary shares 55,326,484 55,326,484

   --------------(Rupees) -------------

   Earnings per share - basic 0.38 1.97

   1. No figure for diluted earnings per share has been presented as the Company has not issued any instrument which would have an impact on earnings per share when exercised.

4. TRANSACTIONS WITH RELATED PARTIES

   Related parties comprise of group companies; directors and their close family members; staff retirement funds; key management personnel and major shareholders of the Company. The associated companies are associated either based on holding in equity or due to the same management and / or common directors. The transactions with related parties are carried out at commercial terms and conditions. Transactions with the key management personnel are made under their terms of employment / entitlements. Contributions to the employee retirement benefits are made in accordance with the terms of employee retirement benefit schemes.

   Balances, including investments in associates, are disclosed in relevant notes to these financial statements. Details of transactions with related parties during the period, other than those which have been disclosed elsewhere in these financial statements, are as follows:

   Notes to the Condensed Interim
   
   Financial Statements (Un-audited)
   
   For the three months period ended March 31, 2026
   
   

   (Un-audited) Three months period ended March 31, March 31,

   Transactions with related parties	2026 2025 --------------(Rupees) -------------
   Premium written	187,249,321		173,117,883
   Claims paid	87,138,475		99,590,256
   Investment in mutual funds	445,009,762		46,300,000
   Sale of units of mutual funds	304,145,253		61,000,000
   Dividend received	2,589,410		2,857,280
   Expenses	24,183,913		22,124,978
   Staff benefit plans	5,105,260		3,879,538
   Remuneration to key management personnel	44,923,028		33,906,160

5. FAIR VALUE OF MEASUREMENT

   The following table shows the carrying amount and fair values of financial assets and financial liabilities, including their levels in the fair value hierarchy.

   March 31, 2026 (Un-audited)

   Held-for- Available-for- Held-to- Loans and Investment in Other Total Level 1 Level 2 Level 3 Total

   trading sale maturity receivables Associate

   financial liabilities

   (Rupees)

   Financial assets measured at fair value

   -	-	-	-	1,463,320,551	448,017,803	695,401,802	319,900,946	1,463,320,551
   -	-	-	-	2,224,008,228	-	2,224,008,228	-	2,224,008,228
   -	-	-	-	369,514,810	-	369,514,810	-	369,514,810

   Investments

   - Equity securities 448,017,803 1,015,302,748

   - Debt securities 631,123,543 1,592,884,685

   Assets of Window Takaful Operations -

   Operator's & Participant's fund - 369,514,810

   Financial assets not measured at fair value

   Cash and bank*	-	-	-	488,215,478	-	-	488,215,478	-	-	-	-
   Investments
   - In associ ates	-	-	-	-	73,046,468	-	73,046,468	-	-	-	-
   - Debt securities	-	- 29,915,399		-	-	-	29,915,399	-	-	-	-
   - Unquoted equity shares*	-	75,283	-	-	-	-	75,283	-	-	-	-
   Insurance / reinsurance receivable*	-	-	-	926,380,838	-	-	926,380,838	-	-	-	-
   Loan and other receivable*	-	-	-	95,871,277	-	-	95,871,277	-	-	-	-
   Reinsurance recoveries against outstanding claims*	-	-	-	169,367,828	-	-	169,367,828	-	-	-	-
   Assets of Window Takaful Operations - Operator's fund*	-	-	-	369,514,810	-	-	369,514,810	-	-	-	-
   Financial liabilities not measured
   at fair value
   Outstanding claims including IBNR*	-	-	-	-	-	(460,500,888)	(460,500,888)	-	-	-	-
   Insurance / reinsurance payables*	-	-	-	-	-	(764,578,598)	(764,578,598)	-	-	-	-
   Other creditors and accruals*	-	-	-	-	-	(161,059,150)	(161,059,150)	-	-	-	-
   Total liabilities of Window Takaful Operations - Operator's fund*	-	-	-	-	-	(394,731,608)	(394,731,608)	-	-	-	-

   1,079,141,346 2,977,777,526 29,915,399 2,049,350,231 73,046,468 (1,780,870,244) 4,428,360,726 448,017,803 3,288,924,840 319,900,946 4,056,843,589

   December 31, 2025 (Audited)

   Held-for- Available-for- Held-to- Loans and Investment in Other Total Level 1 Level 2 Level 3 Total trading sale maturity receivables Associate financial

   liabilities

   (Rupees)

   Financial assets measured at fair value

   Investments
   - Equity securities	590,345,039 922,023,558	-	-	-	-	1,512,368,597	590,345,039	527,763,645	394,259,913	1,512,368,597
   - Debt securities	851,429,740 1,351,675,156	-	-	-	-	2,203,104,896	-	2,203,104,896	-	2,203,104,896
   Assets of Window Takaful Operations - Operator's fund	- 45,341,965	-	-	-	-	45,341,965	-	45,341,965	-	45,341,965
   Financial assets not measured
   at fair value
   Cash and bank*	-		- 240,708,037	-	-	240,708,037	-	-	-	-
   Investments
   - In associates	-		- - 75,635,878		-	75,635,878	-	-	-	-
   - Debt securities	-		29,905,760 -	-	-	29,905,760	-	-	-	-
   - Unquoted equity shares*	- 75,283		- -	-	-	75,283	-	-	-	-
   Insurance / reinsurance receivable*	-		- 1,091,840,344	-	-	1,091,840,344	-	-	-	-
   Loan and other receivables	-		- 144,482,642	-	-	144,482,642	-	-	-	-
   Reinsurance recoveries against outstanding claims*	-		- 99,189,167	-	-	99,189,167	-	-	-	-
   Total assets of Window Takaful Operations	-		- 349,823,138	-	-	349,823,138	-	-	-	- -

   -

   -

   -

   -

   -

   -

   -

   Financial liabilities not measured at fair value

   -	-	-	-	-	(414,096,398)	(414,096,398)	-	-	-	-
   -	-	-	-	-	(658,377,238)	(658,377,238)	-	-	-	-
   -	-	-	-	-	(15,501,894)	(15,501,894)	-	-	-	-
   -	-	-	-	-	(36,701,781)	(36,701,781)	-	-	-	-
   1,441,774,779 2,319,115,962		29,905,760 1,926,043,328		75,635,878	(1,124,677,311)	4,667,798,396	590,345,039	2,776,210,506	394,259,913	3,760,815,458

   Outstanding claims including IBNR* Insurance / reinsurance payables* Other creditors and accruals*

   Total liabilities of Window Takaful Operations - Operator's fund*

   * The Company has not disclosed the fair value of these items because their carrying amounts are a reasonable approximation of fair value.

   1. Fair value is an amount for which an asset could be exchanged, or a liability settled, between knowledgeable willing parties in an arm's length transaction. Consequently, differences may arise between the carrying values and the fair values estimates.

      The Company measures fair values using the following fair value hierarchy that reflects the significance of the inputs used in making the measurements:

      Level 1: Fair value measurements using quoted prices (unadjusted) in active markets for identical assets or liabilities.

      Level 2: Fair value measurements using inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly (i.e. as prices) or indirectly (i.e. derived from prices).

      Level 3: Fair value measurements using inputs for the asset or liability that are not based on observable market data (i.e. unobservable inputs).

      Notes to the Condensed Interim
      
      Financial Statements (Un-audited)
      
      For the three months period ended March 31, 2026
      
      

6. SEGMENT INFORMATION

   Three months period ended March 31, 2026 (Un-audited)

   Premium received / receivable (inclusive of Federal

   Fire and property damage

   Marine, aviation and transport

   Motor

   Accident Miscellaneous Aggregate & Health

   (Rupees)

   Excise Duty, Federal Insurance Fee and Administrative Surcharge)

   52,874,405 266,158,546 181,423,003 45,960,485 28,400,319 574,816,758

   Less: - Federal Excise Duty / Sales Tax	7,864,738	32,175,791		24,357,906		1,982,560		3,708,056		70,089,051
   - Federal Insurance Fee	489,200	2,198,035		1,554,370		509,406		244,948		4,995,959
   - Others	63,500	12,096,703		1,495,050		5,100		41,000		13,701,353
   - Facultative inward premium										-
   Gross written premium (inclusive of
   Administrative Surcharge)	44,456,967		219,688,017		154,015,677		43,463,419		24,406,315		486,030,395
   - Gross direct premium	43,933,397		217,176,209		150,291,167		43,415,169		24,219,083		479,035,025
   - Facultative inward premium	-		-		-		-		-		-
   - Administrative surcharge	523,570		2,511,808		3,724,510		48,250		187,232		6,995,370
   	44,456,967		219,688,017		154,015,677		43,463,419		24,406,315		486,030,395
   Insurance premium earned	144,185,777		160,291,442		155,976,560		178,385,402		30,701,929		669,541,110
   Insurance premium ceded to reinsurers	(126,250,593)		(85,000,006)		(5,621,963)		(513,189)		(24,889,810)		(242,275,561)
   Net Insurance premium	17,935,184		75,291,436		150,354,597		177,872,213		5,812,119		427,265,549
   Commission income	27,690,870		15,753,109		250,013		(342,527)		3,092,153		46,443,618
   Net underwriting income	45,626,054		91,044,545		150,604,610		177,529,686		8,904,272		473,709,167
   Insurance claims	(89,949,262)		(7,965,012)		(104,149,769)		(131,332,437)		(4,607,464)		(338,003,944)
   Insurance claims recovered from reinsurers	84,097,593		4,833,120		19,243,354		-		3,809,210		111,983,277
   Net claims	(5,851,669)		(3,131,892)		(84,906,415)		(131,332,437)		(798,254)		(226,020,667)
   Commission expense	(7,138,884)		(7,031,364)		(8,667,616)		(2,237,513)		(2,777,782)		(27,853,159)
   Management expense	(14,359,839)		(70,960,411)		(49,747,892)		(14,038,918)		(7,883,371)		(156,990,431)
   Net insurance claims and expenses	(27,350,392)		(81,123,667)		(143,321,923)		(147,608,868)		(11,459,407)		(410,864,257)
   Underwriting results	18,275,662		9,920,878		7,282,687		29,920,818		(2,555,135)		62,844,910
   Investment income											(42,505,949)
   Other income											8,373,668
   Other expenses											(3,955,850)
   Finance costs - Lease liabilities											(1,406,370)
   Profit before tax from Window Takaful Operations											12,704,161
   Profit before tax for the period											36,054,570

   Three months period ended March 31, 2025 (Un-audited)

   Fire and property damage

   Marine, aviation and transport

   Motor

   Premium received / receivable (inclusive of Federal Excise Duty, Federal Insurance Fee and
   Administrative Surcharge)		54,809,784	227,017,590	192,220,615		43,184,285		19,741,073		536,973,347
   Less: - Federal Excise Duty / Sales Tax		7,400,700	26,626,087	25,742,441		2,382,895		2,579,383		64,731,506
   - Federal Insurance Fee	474,843	1,835,543		1,651,321		475,231		169,631		4,606,569
   - Others	60,200	15,174,973		1,341,450		6,700		38,400		16,621,723
   Add: - Facultative inward premium	-	-		38,572		-		-		38,572
   Gross written premium (inclusive of
   Administrative Surcharge)	46,874,041		183,380,987		163,523,975		40,319,459		16,953,659		451,052,121
   - Gross direct premium	46,577,274		181,279,846		159,953,270		40,247,647		16,847,722		444,905,759
   - Facultative inward premium	-		-		38,572		-		-		38,572
   - Administrative surcharge	296,767		2,101,141		3,532,133		71,812		105,937		6,107,790
   	46,874,041		183,380,987		163,523,975		40,319,459		16,953,659		451,052,121
   Insurance premium earned	144,948,672		140,771,042		136,754,245		172,721,793		27,509,696		622,705,448
   Insurance premium ceded to reinsurers	(124,165,841)		(71,749,349)		(6,031,689)		(294,056)		(22,056,047)		(224,296,982)
   Net Insurance premium	20,782,831		69,021,693		130,722,556		172,427,737		5,453,649		398,408,466
   Commission income	24,570,038		16,490,850		203,060		85,276		4,161,660		45,510,884
   Net underwriting income	45,352,869		85,512,543		130,925,616		172,513,013		9,615,309		443,919,350
   Insurance claims	(69,899,840)		(19,742,249)		(79,859,342)		(128,359,187)		(4,530,401)		(302,391,019)
   Insurance claims recovered from reinsurers	68,925,966		12,423,879		11,997,610		330,000		3,545,454		97,222,909
   Net claims	(973,874)		(7,318,370)		(67,861,732)		(128,029,187)		(984,947)		(205,168,110)
   Commission expense	(4,890,824)		(9,420,021)		(7,992,292)		(2,923,869)		(1,394,102)		(26,621,108)
   Management expense	(15,069,648)		(58,955,593)		(52,571,715)		(12,962,400)		(5,450,472)		(145,009,828)
   Net insurance claims and expenses	(20,934,346)		(75,693,984)		(128,425,739)		(143,915,456)		(7,829,521)		(376,799,046)
   Underwriting results	24,418,523		9,818,559		2,499,877		28,597,557		1,785,788		67,120,304
   Investment income											96,228,937
   Other income											6,438,986
   Other expenses											(4,776,258)
   Finance costs - Lease liabilities											(1,738,018)
   Profit before tax from Window Takaful Operations											12,983,076
   Profit before tax for the period											176,485,192

   (Rupees)

   Accident Miscellaneous Aggregate & Health

   Notes to the Condensed Interim
   
   Financial Statements (Un-audited)
   
   For the three months period ended March 31, 2026
   
   

   The class wise assets and liabilities are as follows:

   Three months period ended March 31, 2026 (Unaudited)

   Fire and property damage

   Marine, aviation and transport

   Motor

   Accident and Miscellaneous Total health

   (Rupees)

   Segment assets	462,276,914	518,464,845	318,939,555	87,047,250	122,134,054	1,508,862,618
   Unallocated assets						4,284,442,911
   Unallocated assets of Window Takaful
   Operation - Operator's Fund						302,686,622
   Unallocated assets of Window Takaful
   Operation Participants' Takaful Fund						662,296,289
   Total assets	462,276,914	518,464,845	318,939,555	87,047,250	122,134,054	6,758,288,440
   Segment liabilities	538,965,998	486,532,761	711,106,779	379,533,816	136,421,284	2,252,560,637
   Unallocated liabilities						301,312,873
   Unallocated liabilities of Window Takaful
   Operation - Operator's Fund						126,053,309
   Unallocated liabilities and fund of Window
   Operation Takaful Participants' Takaful Fund						662,296,289
   Total liabilities	538,965,998	486,532,761	711,106,779	379,533,816	136,421,284	3,342,223,108

   Fire and property damage

   Marine, aviation and transport

   December 31, 2025 (Audited)

   Motor Accident and Miscellaneous Total health

   (Rupees)

   Segment assets	654,261,579	250,016,191	290,858,453	305,204,620	130,081,291	1,630,422,134
   Unallocated assets						4,406,152,728
   Unallocated assets of Window Takaful
   Operation - Operator's Fund						280,845,552
   Unallocated assets of Window Takaful
   Operation Participants' Takaful Fund						664,276,045
   Total assets	654,261,579	250,016,191	290,858,453	305,204,620	130,081,291	6,981,696,459
   Segment liabilities	667,161,786	251,941,137	640,018,154	644,107,433	133,303,503	2,336,532,013
   Unallocated liabilities						414,798,414
   Unallocated liabilities of Window Takaful
   Operation - Operator's Fund						114,628,705
   Unallocated liabilities and fund of Window Operation Takaful Participants' Takaful Fund						664,276,045
   Total liabilities	667,161,786	251,941,137	640,018,154	644,107,433	133,303,503	3,530,235,177

7. GENERAL

   Figures in these condensed interim financial statements have been rounded off to the nearest rupees, unless otherwise stated.

8. DATE OF AUTHORISATION FOR ISSUE

These condensed interim financial statements were authorised for issue in accordance with a resolution of the Board of Directors on April 28, 2026.

Window

TAKAFUL

Operations

Financial Statements

Operator's Fund Participants' Takaful Fund

March 31,

December 31,

March 31,

December 31,

The annexed notes from 1 to 29 form an integral part of these condensed interim financial statements.

Century Insurance Company Limited 29

Condensed Interim Profit and Loss Account (Un-audited)

For the three months period ended March 31, 2026

Three months period ended

The annexed notes from 1 to 29 form an integral part of these condensed interim financial statements.

For the three months period ended March 31, 2026

Three months period ended

March 31,

2026

March 31,

2025

(Rupees)

Participants' Takaful Fund

Surplus for the period 13,598,937 5,159,313

Items that will be reclassified to profit and loss account Other comprehensive income for the period

• Unrealized gain on available for sale investments

  	5,066,086	2,880,471
  Total comprehensive income for the period	18,665,023	8,039,784
  Operator's Fund
  Profit after tax	7,749,538	7,919,676
  Other Comprehensive Income for the period
  Items that will be reclassified to profit and loss account
  - Unrealized gain on available for sale investments - net of tax	8,408,189	8,478,176
  sale investments included in profit and loss account	(5,741,261)	(5,311,952)

• Reclassification adjustment for net gain on available for sale investments included in profit and loss account

• Reclassification adjustment for net gain on available for

2,666,928 3,166,224

Total comprehensive income for the period 10,416,466 11,085,900

The annexed notes from 1 to 29 form an integral part of these condensed interim financial statements.

Condensed Interim Statement of Cash Flows (Un-audited)

For the three months period ended March 31, 2026

Cash and cash equivalents at the end of the period 13 11,849,703 30,647,103 68,747,784 51,512,816

Profit after tax / surplus for the period 7,749,538 7,919,676 13,598,937 5,159,313 The annexed notes from 1 to 29 form an integral part of these condensed interim financial statements.

Statutory

Operator's Fund Revenue reserve Accumulated

Total

fund

Available for sale Investment revaluation reserve

surplus

(Rupees)

Balance as at January 01, 2025 50,000,000 5,311,952 144,986,318 200,298,270

Changes in fund for the three months period ended March 31, 2025

Profit after tax for the three months period

Other comprehensive income

Unrealised gains on available for sale investments - net of tax

Reliased gain on available for sale investments - net of tax

period ended March 31, 2026

Profit after tax for the three months period

Other comprehensive income

Unrealised gain on available for sale investments - net of tax

Realised gain on available for sale investments - net of tax

Ceded money

Participants' Takaful Fund Accumulated

surplus

(Rupees)

Total

Balance as at January 01, 2025 500,000 97,749,510 98,249,510

Changes in fund for the three months period ended March 31, 2025

ended March 31, 2026

Surplus for the three months period ended

Other comprehensive income

Unrealised gains on available for sale investments Realised gains on available for sale investments

- 18,665,023 18,665,023

Balance as at March 31, 2026 500,000 154,493,808 154,993,808

The annexed notes from 1 to 29 form an integral part of these condensed interim financial statements.

1. LEGAL STATUS AND NATURE OF BUSINESS

   Century Insurance Company Limited ("the Operator") is a public limited company incorporated in Pakistan under the repealed Companies Ordinance, 1984 (now Companies Act 2017) on October 10, 1985. The Operator is listed on Pakistan Stock Exchange and is engaged in general insurance business. The registered office of the Operator is situated at Lakson Square Building No. 2, Sarwar Shaheed Road, Karachi.

   The Operator was granted authorisation on August 07, 2017 under Rule 6 of the Takaful Rules, 2012 to undertake Window Takaful Operations ("the Operations") by the Securities and Exchange Commission of Pakistan ("SECP") under Takaful Rules, 2012, General Takaful accounting regulation 2019 to carry on general takaful operations in Pakistan.

   The Operator transferred statutory fund of Rs. 50 million in a separate bank account for the Operations as per the requirement of circular 8 of 2014. Thereafter, the Operator has formed a Waqf for Participants' Fund ("PTF") by executing the Waqf deed dated August 17, 2017 by investing a ceded money of Rs. 0.5 million. The ceded money is required to be invested in shariah compliant investments and any profit thereon can be utilized only to pay benefits to Participants' or defray PTF expenses. Waqf Deed governs the relationship of Operator and participants for management of takaful operations, investments of participants' funds and investments of the Operator's funds approved by the shariah advisor of the Operator. The Operator commenced activities of the Operations on August 18, 2017.

2. BASIS OF PREPARATION AND STATEMENT OF COMPLIANCE

   1. The Securities and Exchange Commission of Pakistan ("SECP") vide its S.R.O 1416(I)/2019 dated November 20, 2019 has prescribed format of the presentation of published financial statements for general takaful operator for takaful business. These condensed interim financial statements have been prepared in accordance with the format as prescribed by the SECP. The disclosures made in these condensed interim financial statements have, however, been limited based on the requirements of the International Accounting Standard 34: 'Interim Financial Reporting'. These condensed interim financial statements do not include all the information and disclosures required in a full set of financial statements as prescribed by the SECP and should be read in conjunction with the annual audited financial statements of the Operator for the year ended December 31, 2025.

      These condensed interim financial statements reflect the financial position and results of operations of both the Operator's Fund (OPF) and Participants' Takaful Fund (PTF) in a manner that the assets, liabilities, income and expenses of the Operator and PTF remain separately identifiable.

   2. These condensed interim financial statements have been prepared in accordance with the accounting and reporting standards as applicable in Pakistan. The accounting and reporting standards comprise of:

      • International Financial Reporting Standards (IAS) 34, interim Financial Reporting issued by the International Accounting Standards Board (IASB) as for interim Financial Reporting notified under the Companies Act, 2017;

      • Provisions of and directives issued under the Companies Act, 2017, Insurance Ordinance, 2000, Insurance Rules, 2017, Insurance Accounting Regulations, 2017, Takaful Rules, 2012 and General Takaful Accounting Regulations, 2019.

        In case requirements differ, the provisions or directives of the Companies Act, 2017, the Insurance Ordinance, 2000, the Insurance Rules, 2017, the Insurance Accounting Regulations, 2017, the Takaful Rules, 2012 and General Takaful Accounting Regulations, 2019 shall prevail.

   3. These condensed interim financial statements are presented in Pakistani Rupees which is also the Operator's functional currency. All financial information presented in Pakistani Rupees has been rounded to nearest Thousand Rupees, unless otherwise stated.

3. BASIS OF MEASUREMENT

   These condensed interim financial statements have been prepared under the historical cost convention except for certain investments which are stated at their fair values.

4. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

   The accounting policies and the methods of computation adopted in the preparation of these condensed interim financial statements are the same as those applied in the preparation of the audited financial statements for the year ended December 31, 2025.

5. ESTIMATES AND JUDGMENTS

   The preparation of these condensed interim financial statements requires management to make judgments, estimates and assumptions that affect the application of accounting policies and the reported amounts of assets and liabilities, income and expense. Actual results may differ from these estimates. Estimates and underlying assumptions are reviewed on an ongoing basis. In preparing these condensed interim financial statements, the significant judgments made by management in applying the Operations' accounting policies and the key sources of estimation uncertainty were the same as those applied to the annual financial statements as at December 31, 2025.

6. TAKAFUL AND FINANCIAL RISK MANAGEMENT

   The Takaful and financial risk management objectives and policies are consistent with those disclosed in the annual financial statements of the Company for the year ended December 31, 2025.

7. CONTRIBUTION DEFICIENCY RESERVE

   No provision has been made as the unearned contribution reserve for each class of business at period end is adequate to meet the expected future liability after retakaful from claims and other expenses expected to be incurred after the reporting date in respect of policies in force at reporting date.

   Notes to and Forming Part of the Condensed
   
   Interim Financial Statements (Un-audited)
   
   For the three months period ended March 31, 2026
   
   

8. INVESTMENTS

Investments In Securities - Available For Sale

March 31, 2026 December 31, 2025

(Un-audited) (Audited)

Cost Carrying Value Cost Carrying Value

(Rupees)

Operator's Fund Participants' Takaful Fund March 31, December 31, March 31, December 31,

Operator's Fund Participants' Takaful Fund March 31, December 31, March 31, December 31,

2026 2025 2026 2025

(Un-audited) (Audited) (Un-audited) (Audited) Note (Rupees)

12. RECEIVABLE / PAYABLE (Between OPF and PTF)

13.1 Saving accounts carry expected profit rates ranging from 2.56% to 8.76% (2025: 2.56% to 8.76%) per annum.

March 31, December 31,

2026 2025

(Un-audited) (Audited)

1. TAKAFUL / RE-TAKAFUL PAYABLES - PTF ----------- (Rupees) -----------

   Due to other takaful / retakaful operators 177,272,442 211,012,871

   Operator's Fund Participants' Takaful Fund March 31, December 31, March 31, December 31,

   2026 2025 2026 2025

   (Un-audited) (Audited) (Un-audited) (Audited)

2. OTHER CREDITORS AND ACCRUALS -------------------------------- (Rupees) --------------------------------

   Commission payable 16,668,049 16,052,750 - -Federal excise duty and sales tax - - 3,134,296 4,995,344

   Federal takaful fee - - 345,656 491,805

   Accrued expense 24,492,679 10,536,348 500,000 -

   Audit fee payable 430,100 619,850 - -Creditors - - 19,725,458 24,971,220

   Tax deducted at source 128,237 76,460 212,896 184,223

   41,719,065 27,285,408 23,918,306 30,642,592

3. CONTINGENCY AND COMMITMENT

   There is no contingency and commitment as at March 31, 2026 (December 31, 2025: Nil).

   (Un-audited)

   Three months period ended

   March 31, 2026 March 31, 2025

4. NET TAKAFUL CONTRIBUTION - PTF -------------------- (Rupees) --------------------

For the three months period ended March 31, 2026

(Un-audited) Three months period ended