Transmission of quarterly report for the quarter/period ended 30 september 2025

Quarterly Report September 2025 (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.

• 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.

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) 10

Condensed Interim Statement of Comprehensive Income 11

Condensed Interim Statement of Cash Flows 12

Condensed Interim Statement of Changes in Equity 14

Notes to and Forming Part of the Condensed Interim Financial Statements 15

Window Takaful Operations

Condensed Interim Statement of Financial Position 38

Condensed Interim Profit and Loss Account (Un-audited) 40

Condensed Interim Statement of Comprehensive Income 41

Condensed Interim Statement of Cash Flows 42

Condensed Interim Statement of Changes in Fund 43

Notes to and Forming Part of the Condensed Interim Financial Statements 45

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.

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

• To ensure continued growth of the financial strength 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.

2 Quarterly Report September 2025

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

Mr. Sultan Ali Lakhani

Mr. Nawaid Jamal

Mr. Mansoor Ahmed

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

Mr. Aftab Ahmad

Mr. Muhammad Hussain Hirji Mr. Nawaid Jamal

Mr. Amin Mohammed Lakhani Mr. Muhammad Hussain Hirji

Mr. Jawed Akhlaq - Chairman Ms. Anushka Lakhani

Mr. Muhammad Hussain Hirji

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

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

Lakson Square, Building No. 2,

Sarwar Shaheed Road, Karachi-74200.

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

Century Insurance Company Limited 3

On behalf of the Board of Directors, we are pleased to present to you the un-audited financial statements for the nine-month period ended 30 September 2025.

General Review

The overall operational performance of the Company has improved for the nine-month period ended 30 September 2025 as compared to the same period last year. Gross written premium (inclusive of takaful contribution) has increased by Rs. 237 million (12%) to Rs. 2,288 million (2024: Rs. 2,051 million), whereas net premium has increased by Rs. 207 million (21%) to Rs. 1,171 million (2024: Rs. 964 million). Underwriting profit stood at Rs. 159 million (2024: Rs. 131 million), is up by Rs. 28 million (21%). Investment and other income has decreased by Rs. 2 million to Rs. 469 million (2024: Rs. 471 million) due to significant decline in the interest rates.

Operating Results

The comparative financial highlights for the nine-month period ended 30 September 2025 and 30 September 2024 are presented below:

Rs. In Millions (except otherwise stated)

Increase / (Decrease)

Description 2025 2024

Amount %

Gross Written Premium (including Takaful Contribution)

2,288 2,051 237 12

Window Takaful Operations Participant Takaful Fund (PTF)

The gross written contribution for the nine-month period ended 30 September 2025 is Rs. 309 million as compared to Rs. 280 million for the same period last year. Net contribution revenue (before adjustment for wakala fee) is Rs. 133 million (2024: Rs. 116 million).

Operator's Fund (OPF)

Gross wakala fee income for the nine-month period ended 30 September 2025 is Rs. 106 million (2024: Rs. 97 million) while earned wakala fee income is Rs. 98 million (2024: Rs. 83 million). Operator's Profit before tax has decreased to Rs. 55 million (2024: Rs. 68 million) due to decline in profit/return on investments.

4 Quarterly Report September 2025

Future Outlook

The management is making concerted efforts to increase market share and profitability and 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, to our reinsurers and re-takaful operators as well as our shareholders for their trust and confidence in the company.

Iqbal Ali Lakhani

Chairman

Muhammad Hussain Hirji

Director & Chief Executive

Karachi: 29 October 2025

Century Insurance Company Limited 5

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6 Quarterly Report September 2025

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Century Insurance Company Limited 7

Total assets of Window Takaful Operations - Participants' Takaful Fund

17.2 670,344,690 537,064,080 332,386,650

Total Assets 6,917,460,950 6,385,384,111 5,404,585,224

8 Quarterly Report September 2025

Condensed Interim Statement of Financial Position

As at September 30, 2025

Equity and Liabilities ----------------------- (Rupees) -----------------------Authorized share capital

120,000,000 Ordinary share of Rs. 10 each (70,000,000

Ordinary share of Rs. 10 each) 1,200,000,000 700,000,000 700,000,000

Capital and reserves attributable to Company's equity holders

The annexed notes from 1 to 32 form an integral part of these condensed interim financial statements.

Century Insurance Company Limited 9

Three months period ended Nine months period ended

Note (Rupees)

The annexed notes from 1 to 32 form an integral part of these condensed interim financial statements.

1. Quarterly Report September 2025

   Condensed Interim Profit and Loss Account (Un-audited)

   For the three and nine months period ended September 30, 2025

   Three months period ended Nine months period ended September 30, September 30, September 30, September 30,

   2025 2024 2025 2024

   (Rupees)

   Profit after tax 167,970,412 131,017,464 417,936,113 420,665,234

   Other comprehensive income

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

   2,065,467		-		(7,652,067)		(5,046,712)
   -		-		(6,913,090)		(13,148,758)

   Unrealised appreciation / (diminution) on '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 of Window Takaful Operation - net of tax

   2,065,467 - (14,565,157) (18,195,470)

   3,219,209		3,007,306		3,426,016		3,078,734
   -		-		(5,311,952)		(3,354,466)

   3,219,209	3,007,306	(1,885,936)	(275,732)
   365,098	-	365,098	181,292

   - Share in other comprehensive income of an associate - net of tax

   Total comprehensive income for the period 173,620,186 134,024,770 401,850,118 402,375,324

   The annexed notes from 1 to 32 form an integral part of these condensed interim financial statements.

   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   

   Century Insurance Company Limited 11

   Condensed Interim Statement of Comprehensive Income (Un-audited)

   For the three and nine months period ended September 30, 2025

   Operating cash flows

   September 30, September 30,

   2025 2024

   Note (Rupees)

   (a) Underwriting activities
   Insurance premium received	1,975,651,108		1,497,862,480
   Reinsurance premium paid	(401,219,530)		(744,138,912)
   Claims paid	(857,606,073)		(744,412,183)
   Reinsurance and other recoveries received	170,688,550		313,819,386
   Commissions paid	(83,236,299)		(83,418,217)
   Commissions received	77,777,078		264,770,096
   Management expenses paid	(393,968,873)		(352,009,032)
   Net cash generated from underwriting activities	488,085,961		152,473,618
   (b) Other operating activities
   Income tax paid	(319,279,006)		(264,207,775)
   Other operating receipts	3,387,510		1,827,699
   Net cash used in other operating activities	(315,891,496)		(262,380,076)
   Total cash generated from / (used in) operating activities	172,194,465		(109,906,458)
   Investment activities
   Profit / return received	221,229,828		267,600,727
   Dividends received	21,637,778		14,045,043
   Payments for investments	(2,156,749,038)		(3,205,936,100)
   Proceeds from disposal of investments	2,033,290,905		3,340,730,585
   Fixed capital expenditure	(21,563,908)		(54,963,287)
   Proceeds from sale of property and equipment	7,422,950		5,649,323
   Total cash generated from investing activities	105,268,515		367,126,291
   Financing activities
   Dividends paid	(330,523,617)		(247,938,426)
   Dividends share received from operator funds	78,620,895		-
   Lease rental paid	(13,925,222)		(13,655,054)
   Total cash used in financing activities	(265,827,944)		(261,593,480)
   Net cash generated from / (used in) all activities	11,635,036		(4,373,647)
   Cash and cash equivalents at beginning of the period	265,332,244		436,147,757
   Cash and cash equivalents at end of the period 16	276,967,280		431,774,110
   12 Quarterly Report September 2025

   Condensed Interim Statement of Cash Flows (Un-audited)

   For the nine months period ended September 30, 2025

   Reconciliation to profit and loss account

   September 30, September 30,

   2025 2024

   (Rupees)

   Operating cash flows	172,194,465		(109,906,458)
   Depreciation / amortization expense	(17,049,566)		(24,311,721)
   Profit on disposal of fixed assets	4,861,201		445,775
   Profit on disposal of investments	76,456,008		59,691,392
   Dividend income	19,863,939		12,045,630
   Investment and other income	401,249,817		407,645,603
   (Decrease) / Increase in assets other than cash	(11,993,096)		187,799,185
   Increase in liabilities other than running finance	(261,052,644)		(154,154,560)
   Profit from Window Takaful Operations	33,405,989		41,410,388
   Profit after tax	417,936,113		420,665,234

   The annexed notes from 1 to 32 form an integral part of these condensed interim financial statements.

   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   

   Century Insurance Company Limited 13

   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

   Balance as at January 01, 2024 (Audited)	553,264,840	254,024,260	119,000,000	97,463,724	1,799,315,078	2,823,067,902
   Total comprehensive income for the period ended

   (Rupees)

   Retained earnings

   Total

   September 30, 2024

   -		-		-		-		420,665,234		420,665,234
   -		-		-		-		181,292		181,292
   -		-		-		(1,967,978)		-		(1,967,978)
   -		-		-		(16,503,224)		-		(16,503,224)
   -		-		-		(18,471,202)		420,846,526		402,375,324
   -		-		-		-		(248,969,420)		(248,969,420)
   553,264,840		254,024,260		119,000,000		78,992,522		1,971,192,184		2,976,473,806
   553,264,840		254,024,260		119,000,000		192,395,677		2,144,039,986		3,262,724,763

   Profit after tax for the nine months period

   Other comprehensive income

   Share in other comprehensive income of an associate

   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

   Transactions with owners recorded directly in equity

   Final cash dividend of Rs.4.5 (45%) per share for the year ended December 31, 2023

   Balance as at September 30, 2024 (Un-audited) Balance as at January 01, 2025 (Audited)

   Total comprehensive income for the period ended September 30, 2025

   -		-		-		-		417,936,113		417,936,113
   -		-		-		-		365,098		365,098
   -		-		-		(4,226,051)		-		(4,226,051)
   -		-		-		(12,225,042)		-		(12,225,042)

   Profit after tax for the nine months period

   Other comprehensive income

   Share in other comprehensive income from associates

   Net unrealised gain 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

   -		-		-		(16,451,093)		418,301,211		401,850,118
   -		-		-		-		(331,958,920)		(331,958,920)
   553,264,840		254,024,260		119,000,000		175,944,584		2,230,382,277		3,332,615,961

   Total comprehensive income

   Transactions with owners recorded directly in equity

   Final cash dividend of Rs.6.00 (60%) per share for the year ended December 31, 2024

   Balance as at September 30, 2025 (Un-audited)

   The annexed notes from 1 to 32 form an integral part of these condensed interim financial statements.

   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   

   14 Quarterly Report September 2025

   Condensed Interim Statement of Changes in Equity (Un-audited)

   For the nine months period ended September 30, 2025

   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

      1. Statement of Compliance

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

            • International Financial Reporting Standards (IAS) 34, Interim Financial Reporting issued by the International Accounting Standards Board (IASB) as 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.

              Where the provisions of and directives issued under Companies Act 2017, Insurance Ordinance 2000, Insurance Rules 2017, Insurance Accounting Regulations 2017 and Takaful Rules 2012, General Takaful Accounting Regulations, 2019 differ with the requirements of IAS 34, the provisions and directives issued under Companies Act 2017, Insurance Ordinance 2000, Insurance Rules 2017, Insurance Accounting Regulations 2017, Takaful Rules 2012 and General Takaful Accounting Reglations, 2019 have been followed.

              The Securities and Exchange Commission of Pakistan ("SECP") vide its S.R.O 89(1)/2017 dated February 09, 2017 has prescribed the format of the presentation of financial statements for the general insurance companies. These condensed interim financial statements have been prepared in accordance with the format prescribed by the SECP.

         2. This condensed interim financial statement is unaudited but subject to the limited scope review by the auditors as required under Code of Corporate Governance for Insurers, 2016. This condensed interim financial statement does not include all the statement and disclosures required for full annual financial statements and should be read in conjunction with the annual financial statements of the Company as at and for the year ended December 31, 2024 which have been prepared in accordance with accounting and reporting standards as applicable to insurance companies in Pakistan.

            Century Insurance Company Limited 15

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

            For the nine months period ended September 30, 2025

         3. The comparative statement of financial position presented in this condensed interim financial statement has been extracted from the annual audited financial statements of the Company for the year ended December 31, 2024, whereas the comparative condensed interim statement of profit and loss account, condensed interim statement of comprehensive income, condensed interim statement of cash flows and condensed interim statement of changes in equity are extracted from the unaudited condensed interim financial statement for the nine months period ended September 30, 2024.

         4. In terms of the requirements of The General Takaful Accounting Regulation, 2019, read with SECP SRO 1416(I)/2019 dated November 20, 2019 and SRO 311(I)/2025 dated March 03, 2025, the assets, liabilities of Operator's Fund and Participants' Takaful Fund of the Window Takaful Operations (WTO) 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 statement of financial position and profit and loss account of the Company respectively.

      2. Basis of measurement

         These condensed interim financial statements for the three months and nine months period ended September 30, 2025 have been prepared under the historical cost convention, except for certain investments which are carried at fair values, obligations under employee benefits are measured at present value and investment in associate is valued under equity method of accounting.

      3. Functional and presentation currency

         These condensed interim financial statements are presented in Pakistani Rupees which is also the Company's functional currency.

   3. USE OF ESTIMATES AND JUDGMENTS

      The preparation of condensed interim financial statement 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 statement, 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 annual audited financial statements as at and for the year ended December 31, 2024.

   4. CHANGE IN ACCOUNTING POLICY - S.R.O 311(I)/2025 - 'AMENDMENTS TO THE GENERAL TAKAFUL ACCOUNTING REGULATIONS, 2019

      During the year, the Securities and Exchange Commission of Pakistan (SECP) issued S.R.O. 311(I)/2025, introducing amendments to the General Takaful Regulations, 2019. Pursuant to these amendments, the following disclosure requirements have been introduced for insurers in their financial statements:

      The Insurers whose Window Takaful Operations constitute 25% or more of their total business may consolidate their conventional and takaful operations in the published financial statements.

      16 Quarterly Report September 2025

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

      For the nine months period ended September 30, 2025

      This includes comprehensive disclosures and segment reporting in accordance with IFRS

      8. Insurers whose Window Takaful Operations less than 25% of their total business should disclose total assets and liabilities of the Window Takaful Operations (OPF and PTF) as a single line item in the statement of financial position.

      The Company has adopted the above-mentioned amendments by presenting the total assets, liabilities, and funds balance of the Window Takaful Operations as a single line item in the statement of financial position. The Company has accounted for the effects of these changes in accounting policy retrospectively under IAS 8 "Accounting Policies, Changes in Accounting Estimates and Errors" and the corresponding figures have been restated in these financial statements. The effects of restatements are as follows:

      Had there been no adoption

      Impact of Adoption

      After incorporating effect of adoption

      (Rupees)

      As at December 31, 2024

      Effect on statement of financial position(Conventional):

      Total assets	5,848,320,031	537,064,080	6,385,384,111
      Total funds and liabilities	5,848,320,031	537,064,080	6,385,384,111
      As at December 31, 2023
      Effect on statement of financial position(Conventional):
      Total assets	5,072,198,574	332,386,650	5,404,585,224
      Total funds and liabilities	5,072,198,574	332,386,650	5,404,585,224

   5. MATERIAL ACCOUNTING POLICY INFORMATION

      The accounting policies adopted in the preparation of these consolidated condensed interim financial statements are consistent with those followed in the preparation of the consolidated annual audited financial statements for the year ended December 31, 2024 except as disclosed in note 4 of these condensed interim financial statements.

      1. Standards, interpretations of and amendments to published approved accounting standards that are effective in the current period:

         Certain standards, amendments and interpretations to approved accounting standards are effective for accounting periods beginning on January 01, 2025, but are considered not to be relevant or to have any significant effect on the Company's operations (although they may affect the accounting for future transactions and events) and are, therefore, not detailed in these condensed interim financial statements.

         Century Insurance Company Limited 17

      2. Standards, interpretations of and amendments to accounting and reporting standards as applicable in Pakistan that are not yet effective.

         The following standards, amendments and interpretations with respect to the approved accounting standards as applicable in Pakistan would be effective from the dates mentioned below against the respective standard or interpretation:

         IFRS 17 - 'Insurance contracts' has been notified by the IASB to be effective for annual periods beginning on or after January 01, 2023. However SECP has notified the timeframe for the adoption of IFRS - 17 which will be adopted by January 01, 2027.

         In addition to the above standards and amendments, improvements to various accounting standards and conceptual framework have also been issued by the IASB. Such improvements are generally effective for accounting periods beginning on or after July 01, 2025. The Company expects that such improvements to the standards will not have any material impact on the Company's condensed interim financial statements in the period of initial application.

   6. TEMPORARY EXEMPTION FROM APPLICATION OF IFRS 9

      The Company has taken the benefit of the temporary exemption of applying IFRS 9 "Financial Instruments" with IFRS 17 "Insurance Contracts" as allowed under IFRS. SECP vide its SRO 1336(I)/2025 dated July 23, 2025, extended the application/adoption of IFRS 17 for the period commencing from January 01, 2027.

   7. FINANCIAL AND INSURANCE RISK MANAGEMENT

      The financial risk management objectives and policies adopted by the Company are consistent with those disclosed in the annual financial statements of the Company for the year ended December 31, 2024.

   8. 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.

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

      September 30, December 31,

      2025 2024

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

      Operating assets	9.1	128,594,178	126,641,587
      Right of use assets	9.2	29,393,827	39,261,005
      		157,988,005	165,902,592

      18 Quarterly Report September 2025

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

      For the nine months period ended September 30, 2025

      (Un-audited) (Audited)

      September 30, December 31,

      2025 2024

      1. Operating assets Note --------------(Rupees) -------------

   Opening Balance as at January 01	126,641,587		78,439,744
   Add: Additions during the period / year
   - Motor vehicles	17,849,100		57,473,590
   - Computers and related accessories	1,954,157		6,139,832
   - Office equipment	1,732,951		3,730,991
   - Furniture and fixtures	27,700		3,494,630
   - Office improvement	-		4,564,924
   	21,563,908		75,403,967
   Less: - Net book value of deletions - Depreciation for the period / year	2,561,751 17,049,566		8,115,955 19,086,169

   19,611,317 27,202,124

   Closing Balance as at September 30 128,594,178 126,641,587

   9.2 Right of use assets
   Opening Balance as at January 01		39,261,005	16,493,563
   Additions during the period / year		-	36,826,812
   Depreciation for the period / year		(9,867,178)	(14,059,370)
   Closing Balance as at September 30		29,393,827	39,261,005
   10. INVESTMENT IN ASSOCIATES
   Opening Balance as at January 01		77,630,779	73,966,924
   Share of profit from associates		1,090,509	8,572,093
   Dividend received from associates		(5,491,335)	(5,089,530)
   Share in other comprehensive income / (loss)		365,098	181,292
   Closing Balance as at September 30	10.1	73,595,051	77,630,779

   1. This includes investment in Colgate - Palmolive (Pakistan) Limited of Rs. 15.154 million (December 31, 2024: Rs. 18.418 million) and Century Paper & Board Mills Limited of Rs.

57.441 million (December 31, 2024: Rs. 59.213 million).

Century Insurance Company Limited 19

1. INVESTMENTS

   1. Investments in equity

      September 30,2025 (Un-audited) December 31, 2024 (Audited)

      securities

      Cost Impairment on AFS

      Unrealised gain / (loss) on revaluation

      Carrying value Cost Impairment

      on AFS

      Unrealised gain / (loss) on revaluation

      Carrying value

      Note (Rupees)

      Available for sale	11.1.1 755,562,414		-		202,919,670		958,482,084		658,021,561		-		217,708,935		875,730,496
      Held for trading	421,039,490		-		161,405,578		582,445,068		245,477,320		-		89,649,222		335,126,542
      	1,176,601,904		-		364,325,248		1,540,927,152		903,498,881		-		307,358,157		1,210,857,038
      11.1.1 Available for sale
      Related parties Mutual funds	590,068,700		-		198,538,617		788,607,317		522,649,799		-		205,373,631		728,023,430
      Others
      Unlisted shares	75,283		-		-		75,283		75,283		-		-		75,283
      Mutual funds	165,418,431		-		4,381,053		169,799,484		135,296,479		-		12,335,304		147,631,783
      	165,493,714		-		4,381,053		169,874,767		135,371,762		-		12,335,304		147,707,066
      	755,562,414		-		202,919,670		958,482,084		658,021,561		-		217,708,935		875,730,496

   2. Investments in debt September 30, 2025 (Un-audited) December 31, 2024 (Audited)

      securities Cost Unrealised gain / (loss) on

      revaluation

      Carrying value

      Cost Unrealised gain / (loss) on

      revaluation

      Carrying value

      Note (Rupees)

      Held for trading

      Government securities 830,317,356 11,941,219 842,258,575 732,245,396 2,289,144 734,534,540

      Held to maturity

      Government securities	11.2.1 &	29,896,014	-	29,896,014		29,866,776		-		29,866,776
      	11.2.2
      Available for sale
      Sukuk	25,000,000		-		25,000,000		25,000,000		-		25,000,000
      Term finance certificate	237,655,800		-		237,655,800		237,726,400		-		237,726,400
      Government securities 11.2.1	997,270,785		40,064,232		1,037,335,017		1,038,527,010		45,789,190		1,084,316,200
      	1,259,926,585		40,064,232		1,299,990,817		1,301,253,410		45,789,190		1,347,042,600
      	2,120,139,955		52,005,451		2,172,145,406		2,063,365,582		48,078,334		2,111,443,916

      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. 29.991 million (2024: Rs. 29.435 million).

20 Quarterly Report September 2025

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

For the nine months period ended September 30, 2025

(Un-audited) (Audited)

13.1 This include receivable amounting to Rs. 651.24 million (December 31, 2024: Rs. 652.054 million) due from related parties.

(Un-audited) (Audited)

September 30, December 31,

15.1 Saving accounts expected profit rate ranging from 6.00% to 9.5% per annum (December 31, 2024: 6.00% to 12.50% per annum).

Century Insurance Company Limited 21

16. CASH AND CASH EQUIVALENT

Cash and cash equivalents for the purpose of the Statement of cash flows comprises:

(Un-audited) (Un-audited)

September 30, September 30,

2025 2024

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

Cash and balance 277,167,280 431,974,110

Three months period ended Nine months period ended September 30, September 30, September 30, September 30,

2025 2024 2025 2024

(Rupees)

Profit before tax for the period 11,044,259 19,846,402 54,763,916 67,885,882

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

(Un-audited) (Audited)

September 30, December 31,

2025 2024

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

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

22 Quarterly Report September 2025

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

For the nine months period ended September 30, 2025

1. INSURANCE AND REINSURANCE PAYABLES

   (Un-audited) (Audited)

   September 30, December 31,

   2025 2024

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

   Due to other insurers / reinsurers 679,294,380 561,065,557

2. OTHER CREDITORS AND ACCRUALS

   Agent commission payable 69,709,853 57,006,856

   Federal excise duty 19,850,571 42,731,431

   Federal insurance fees 2,648,607 3,498,836

   Creditors 11,571,323 7,470,344

   Retention money 148,185 148,185

   Margin deposits 14,598,209 15,207,867

   Withholding tax payable - 46,050

   Accrued expenses 44,071,740 18,475,126 Deposits from employees against car scheme 32,455,710 28,502,536 Unclaimed dividend 8,687,977 7,252,674

   Lease liability 35,907,993 44,338,889

   Others 2,212,000 2,181,003

   241,862,168 226,859,797

3. CONTINGENCIES AND COMMITMENTS

   The status of contingencies and commitments remain unchanged as disclosed in annual financial statements for the year ended December 31, 2024.

4. NET INSURANCE PREMIUM (Un-audited) (Un-audited)

Three months period ended Nine months period ended September 30, September 30, September 30, September 30,

2025 2024 2025 2024

(Rupees)

Less: Reinsurance premium ceded

Add: Prepaid reinsurance premium opening Less: Prepaid reinsurance premium closing

Reinsurance expense 206,705,967 191,740,675 637,302,508 606,856,847 Net Insurance Premium 405,345,970 325,049,179 1,170,986,919 964,018,852

Century Insurance Company Limited 23

(Un-audited) (Un-audited)

Three months period ended Nine months period ended September 30, September 30, September 30, September 30,

2025 2024 2025 2024

(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 64,952,169 140,251,129 221,599,390 283,472,004 Net Insurance claims 244,057,073 182,218,824 662,028,441 537,809,039

Less: Deferred commission expense closing 59,006,380 47,263,983 59,006,380 47,263,983 Net commission 29,582,734 20,005,248 81,453,514 68,092,027

Less: Commission received or recoverable

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

Commission from reinsurers 39,880,559 38,941,143 135,633,996 125,244,400

Net Commission expense / (income) (10,297,825) (18,935,895) (54,180,482) (57,152,373)

24 Quarterly Report September 2025

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

For the nine months period ended September 30, 2025

23. INVESTMENT INCOME (Un-audited) (Un-audited)

Three months period ended Nine months period ended September 30, September 30, September 30, September 30,

2025 2024 2025 2024

(Rupees)

Held for trading

Net realised gains on investments Available for sale

• Gain on sale of equity securities

• Debt securities

  696,108		97,561		51,385,009		57,876,451
  40,908		-		5,340,673		-

  737,016 97,561 56,725,682 57,876,451

  Fair value through profit or loss

• Gain on sale of equity securities

• (Loss) / gain on sale of debt securities

20,392,009 2,574,155 19,730,326 1,814,941

Net unrealised gain on investments

Century Insurance Company Limited 25

1. OTHER INCOME

   (Un-audited) (Un-audited)

   Three months period ended Nine months period ended September 30, September 30, September 30, September 30,

   2025 2024 2025 2024

   (Rupees)

   Return on bank balances 6,103,526 26,839,958 18,971,946 61,754,504

   Gain on sale of fixed assets 3,192,481 406,239 4,861,201 445,775 Others - - 77,696 156,005 9,296,007 27,246,197 23,910,843 62,356,284

2. EARNINGS PER SHARE - BASIC AND DILUTED

   Profit after tax for the period 167,970,412 131,017,464 417,936,113 420,665,234

   (Numbers)

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

   (Rupees)

   Earnings per share - basic 3.04 2.37 7.55 7.60

   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.

3. 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 condensed interim financial statements. Details of transactions with related parties during the period, other than those which have been disclosed elsewhere in these condensed interim financial statements, are as follows:

26 Quarterly Report September 2025

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

For the nine months period ended September 30, 2025

(Un-audited) (Un-audited)

Three months period ended Nine months period ended September 30, September 30, September 30, September 30,

2025 2024 2025 2024

(Rupees)

IFRS 13 "Fair Value Measurement" defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.

Financial assets which are tradable in an open market are revalued at the market prices prevailing on the reporting date. The estimated fair value of all other financial assets and liabilities is considered not significantly different from book value.

In respect of investments in quoted equity securities, fair value is determined by reference to stock exchange quoted market price at the close of business day. For term finance certificates, fair value is determined by reference to average broker rates.

Fair value hierarchy

IFRS 13 requires the Company to classify fair value measurement using a fair value hierarchy that reflects the significance of the inputs used in making the measurements. The fair value hierarchy has following levels:

Level 1 Quoted prices in active markets for identical assets or liabilities.

Level 2 Those involving inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly (as prices) or indirectly (derived from prices) and;

Level 3 Those with inputs for the asset or liability that are not based on observable market data (unobservable inputs).

Century Insurance Company Limited 27

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

September 30, 2025 (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

1,424,703,643 2,691,310,888 29,896,014 1,889,325,588 73,595,051 (1,747,145,297) 4,361,685,887 755,329,386 3,198,373,706 319,976,229 4,273,679,321

28 Quarterly Report September 2025

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

For the nine months period ended September 30, 2025