Transmission of quarterly report for the year ended 30 june 2025

Half Yearly Report June 30, 2025 (Un-audited)

• 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.

Financial Statement Conventional Operations

Vision and Mission 2

Corporate Information 3

Directors' Review 4

Directors' Review (Urdu) 7

Auditors' Reiew Report 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

Auditors' Reiew Report 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

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 Half Yearly Report June 2025

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

Mr. Aftab Ahmad

Mr. Atiq Anwar Mahmudi Mr. Jawed Akhlaq

Mr. Mohammad 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. Mohammad Hussain Hirji Mr. Nawaid Jamal

Mr. Amin Mohammed Lakhani Mr. Mohammad Hussain Hirji

Mr. Jawed Akhlaq - Chairman Ms. Anushka Lakhani

Mr. Mohammad 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 half-year ended June 30, 2025.

General Review

The overall operational performance of the Company has improved for the half year ended June 30, 2025 as compared to the same period last year. Gross written premium (inclusive of takaful contribution) has increased by Rs. 105 million (8%) to Rs. 1,367 million (2024: Rs. 1,262 million), whereas net premium has increased by Rs. 127 million (20%) to Rs. 766 million (2024: Rs. 639 million). Underwriting profit at Rs. 112 million (2024: Rs. 78 million), is up by Rs. 34 million (44%). Investment and other income have decreased by Rs. 71 million (21%) to Rs. 264 million (2024: Rs. 335 million) due to significant decline in interest rates for the period.

Operating Results

The comparative financial highlights for the half-year ended June 30, 2025 and June 30, 2024 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 half year ended June 30, 2025 is Rs. 182 million as compared to Rs. 171 million for the same period last year. Net contribution revenue (before adjustment for wakala fee) is Rs. 92 million (2024: Rs. 79 million).

Operator's Fund (OPF)

Gross wakala fee income for the half year June 30, 2025 is Rs. 63 million (2024: Rs. 60 million) while earned wakala fee income is Rs. 67 million (2024: Rs. 55 million). Operator's Profit before tax is Rs. 44 million (2024: Rs. 48 million).

4 Half Yearly Report June 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 and to our reinsurers and shareholders for their trust and confidence in the company.

Iqbal Ali Lakhani

Chairman

Mohammad Hussain Hirji

Director & Chief Executive

Karachi: August 20, 2025

Century Insurance Company Limited 5

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ء2025 تسگا 20 :یچارک

6 Half Yearly Report June 2025

ٹروپر ہ�ف ئ اج یک ز�ٹ ی �ئ اڈ

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۔اوہ (ےپور لمی 1,262 : 2024( ےپور لمی ف 105 ہکوج ہفاضا �ی 8 ےپور لمی 1,367 (نش �ی رٹنک لفئ اکت� لومشب( م رپ

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جئاتن ےکت �ومl ی�tب r›�اک

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نوج 30

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8

(مق�)

105

(مق�)

1,262

(مق�)

1,367

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s

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450

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403

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صلاخ ۔ اہر ےپور لمف ی 171 لاس ہتشزگ نارود ےک تدم یسا ہکبج ےپور لمف ی 182 نش�ی ب رٹنک یعومجم ہدش�ی رحتف اک ء 2025یہامشش ۔(ےپور لمی 79 : 2024( ۔اہرےپور لمی 92 (ےلہپ ےس ٹنمٹسج�ی ا یک �ی ہلاکو( نش�ی ب یرٹنک

Century Insurance Company Limited 7

INDEPENDENT AUDITORS' REVIEW TO THE MEMBER OF CENTURY INSURANCE COMPANY LIMITED

Report on Review of Condensed Interim Financial Statements

Introduction

We have reviewed the accompanying condensed interim statement of financial position of CENTURY INSURANCE COMPANY LIMITED ("the Company") as at June 30, 2025 and the related condensed interim profit and loss account, condensed interim statement of comprehensive income, condensed interim statement of changes in equity, and condensed interim statement of cash flows and notes to the financial statements for the six months period then ended (here-in-after referred to as the "condensed interim financial statements"). Management is responsible for the preparation and presentation of these condensed interim financial statements in accordance with the accounting and reporting standards as applicable in Pakistan for interim financial reporting. Our responsibility is to express a conclusion on these condensed interim financial statements based on our review.

Scope of review

We conducted our review in accordance with International Standard on Review Engagements 2410, "Review of Interim Financial Information Performed by the Independent Auditor of the Entity." A review of condensed interim financial statements consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with International Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

Conclusion

Based on our review, nothing has come to our attention that causes us to believe that the accompanying condensed interim financial statements is not prepared, in all material respects, in accordance with the accounting and reporting standards as applicable in Pakistan for interim financial reporting.

8 Half Yearly Report June 2025

Other Matters

Pursuant to the requirement of Section 237 (1) (b) of the Companies Act, 2017, only cumulative figures for the six months, presented in the second quarter accounts are subject to a limited scope review by the statutory auditors of the Company. Accordingly, the figures of the condensed interim profit and loss account and condensed interim statement of comprehensive income for the three months period ended June 30, 2025 have not been reviewed by us.

The engagement partner on the review resulting in this independent auditor's review report is Tariq Feroz Khan.

KARACHI

DATED: 28 August 2025 BDO EBRAHIM & CO.

CHARTERED ACCOUNTANTS

UDIN: RR202510166ceWtoMxh1

Century Insurance Company Limited 9

10 Half Yearly Report June 2025

Condensed Interim Statement of Financial Position

As at June 30, 2025

(Un-audited) (Audited) (Audited)

June 30, December 31, December 31,

2025 2024 2023

(Restated) (Restated)

Note (Rupees)

Equity and liabilities Authorized share capital 120,000,000 (2024: 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 11

Three months period ended Six months period ended

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

12 Half Yearly Report June 2025

Condensed Interim Profit and Loss Account (Un-audited)

For the three and six months period ended June 30, 2025

Three months period ended Six months period ended

June 30,

2025

June 30,

2024

(Rupees)

June 30,

2025

June 30,

2024

Profit after tax 141,053,013 171,993,996 249,965,701 289,647,770

Other comprehensive income

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

Unrealised (diminution) / appreciation 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 (diminution) / 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

(19,522,423) (10,357,576) (16,630,624) (18,195,470)

Total comprehensive income for the period 113,259,221 156,144,126 228,229,932 268,350,554 The annexed notes from 1 to 32 form an integral part of these condensed interim financial statements.

Century Insurance Company Limited 13

Condensed Interim Statement of Comprehensive Income (Un-audited)

For the three and six months period ended June 30, 2025

Operating cash flows

(Un-audited)

June 30, June 30,

2025 2024

Note (Rupees)

Condensed Interim Statement of Cash Flows (Un-audited)

For the six months period ended June 30, 2025

Reconciliation to profit and loss account

(Un-audited)

June 30, June 30,

2025 2024

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

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

Century Insurance Company Limited 15

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, 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 June 30, 2024

Profit after tax for the six 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 - - - (21,478,508) 289,829,062 268,350,554

Transactions with owners recorded directly in equity

Final cash dividend of Rs.4.5 (45%) per share

for the year ended December 31, 2023 - - - - (248,969,420) (248,969,420)

Balance as at June 30, 2024 (Un-audited) 553,264,840 254,024,260 119,000,000 75,985,216 1,840,174,720 2,842,449,036

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

Total comprehensive income for the period ended June 30, 2025

Profit after tax for the six months period

Other comprehensive income

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 - - - (21,735,769) 249,965,701 228,229,932

Transactions with owners recorded directly in equity

Final cash dividend of Rs.6 (60%) per share

for the year ended December 31, 2024 - - - - (331,958,920) (331,958,920)

Balance as at June 30, 2025 (Un-audited) 553,264,840 254,024,260 119,000,000 170,659,908 2,062,046,767 3,158,995,775

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

16 Half Yearly Report June 2025

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

For the six months period ended June 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 Regulations, 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 17

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

         For the six months period ended June 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 six months period ended June 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 six months period ended June 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.

18 Half Yearly Report June 2025

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

For the six months period ended June 30, 2025