Transmission of Quarterly report for the period March 31, 2026

Apr 30, 2026 at 10:33 AM UTC · Issued by East West Insurance Co. Ltd.

DIRECTORS' REVIEW REPORT TO THE MEMBERS'

Your Directors are pleased to present their report together with un-audited three months Financial Statements for the period ended March 31, 2026

The statistic covers the annexed Financial Statements of conventional general insurance and Window Takaful operation comprising:

0 Condnsed interim statement of financial position;

0 Condnsed interim statement profit and loss account;

0 Condnsed interim statement of comprehensive income;

0 Condnsed interim statement of changes in equity;

0 Condnsed interim cash flows statement;

0 Notes to the condnsed interim financial information;

We are confident that this information would adequately apprise the valued shareholders about the performance of their Company.

The financial highlight of the company for the period ended March 31, 2026 is as follows:

(Unaudited)

Result of operating activites	485,690,094
Profit before tax from Window Takaful Operations	48,482,295
Profit before tax	534,172,389
Income tax expenses	(50,825,981)
Profit after taxation	483,346,408
Other Comprehensive income	680,028
Total Comprehensive income	484,026,436
Unappropriated profit at beginning of the year	1,225,386,217
Profit for the period	483,346,408
Unappropriated at the end of the period	1,708,732,625

March, 31 2026 March, 31 2025

---------- (Unaudited) ----------

Gross premium	3,161,563,682	2,014,481,532
Net premium	1,935,996,564	1,356,402,686
Underwriting results	517,226,546	378,968,604
Investment income	10,287,066	156,419,238
Profit before tax (including Window Takaful Operations)	534,172,389	487,341,710
Profit after tax (including Window Takaful Operations)	483,346,408	457,115,819
Earnings per share - basic and diluted (Rupees)	1.72	1.62

On behalf of the Board of Directors

Naved Yunus

Chief Executive Officer

Karachi : April 29, 2026

EAST WEST INSURANCE COMPANY LIMITED

CONDENSED INTERIM STATEMENT OF FINANCIAL POSITION (UNAUDITED)

AS AT MARCH 31, 2026

March 31,

2026

December 31,

2025

Note	-------------- Rupees--------------

6	292,711,358
	24,508,504
8	758,534
9	40,789,982

285,087,807

24,508,504

762,875

41,306,311

5,086,196,699

4,543,371,861

1,019,431,663

17,918,736,213

18,593,814,548

6,744,158,867

2,906,446

819,365,374

1,213,714,610

32,997,626

591,919,894

387,022,826

134,280,722

454,611,471

10,380,977,836

1,379,471,563

6,422,620,493

558,536

708,180,577

1,848,971,365

32,997,626

569,566,303

351,340,035

134,280,722

459,270,668

10,527,786,325

1,423,714,973

2,814,657,940

2,118,242,657

1,225,386,217

6,158,286,814

2,814,657,940

2,118,922,685

1,708,732,625

6,642,313,250

1,668,288,678

17,918,736,213

1,760,697,005

18,593,814,548

10,368,254,211

258,443,040

917,872,641

1,297,496,276

494,278,433

1,225,022,672

1,337,414,765

16,250,447,535

10,649,000,223

244,290,632

988,549,753

1,218,963,270

548,526,070

1,527,194,513

1,297,824,704

16,833,117,543

2,801,214,657

3,688,893,033

254,051,177

4,781,893,326

4,566,610,333

1,019,750,552

ASSETS

Property and equipment

Right of use of assets

Intangible assets

Investment properties

Investments

Equity securities

Debt securities

Term deposits

Loans and other receivables 13

Insurance / Reinsurance receivables 14

Reinsurance recoveries against outstanding claims Deferred commission expense

Prepayments 15

Cash and bank 16

Total assets of General Takaful Operations - Operator's Fund

TOTAL ASSETS EQUITY AND LIABILITIES Capital and reserves attributable to Company's equity holders

Ordinary share capital

Reserves 17

Unappropriated profit TOTAL EQUITY LIABILITIES

Underwriting provisions

2,595,611,620

3,699,267,841

127,741,032

Outstanding claims including IBNR Unearned premium reserves Unearned reinsurance commission

Retirement benefit obligations Premium received in advance Deposits and other payable

Lease liablity against right of use of assets Insurance / reinsurance payables

Other creditors and accruals 19

Deferred tax liability Taxation - net

TOTAL LIABILITIES

Total liabilities of takaful operations

TOTAL EQUITY AND LIABILITIES CONTINGENCIES AND COMMITMENTS 20

The annexed notes from 1 to 27 form an integral part of these condensed interim financial information.

CHAIRMAN CHIEF EXECUTIVE DIRECTOR DIRECTOR CHIEF FINANCIAL OFFICER

EAST WEST INSURANCE COMPANY LIMITED

CONDENSED INTERIM PROFIT AND LOSS ACCOUNT (UNAUDITED)

FOR THE PERIOD ENDED MARCH 31, 2026

for the period ended
March 31,	March 31,
2026	2025

Note

Net insurance premium	21	1,935,996,564	1,356,402,686
Net insurance claims	22	(801,023,368)	(538,488,682)
Net commission	23	(321,494,087)	(242,692,836)
Insurance claims and acquisition expenses		(1,122,517,455)	(781,181,518)
Management expenses		(296,252,563)	(196,252,563)
Underwriting results		517,226,546	378,968,605
Investment income	24	10,287,066	156,419,238
Other income		7,722,075	2,875,017
Other expenses		(49,161,346)	(76,928,161)
Result of operating activities		486,074,341	461,334,699
Finance cost		(384,247)	(181,133)
Profit from takaful operations		48,482,295	26,188,145
Profit before tax		534,172,389	487,341,711
Income tax expense		(50,825,981)	(30,225,891)
Profit after taxation		483,346,408	457,115,820
Earnings per share - basic and diluted	25	1.72	1.62

The annexed notes from 1 to 27 form an integral part of these condensed interim financial information.

CHAIRMAN CHIEF EXECUTIVE DIRECTOR DIRECTOR CHIEF FINANCIAL OFFICE EAST WEST INSURANCE COMPANY LIMITED CONDENSED INTERIM STATEMENT OF COMPREHENSIVE INCOME (UNAUDITED) FOR THE PERIOD ENDED MARCH 31, 2026 March 31, March 31, 2026 2025

Profit after tax Other comprehensive income	483,346,408	457,115,820
Items that may be reclassified subsequently to profit or loss account
Unrealised (loss) / gain on available for sale investments-net of deferred tax	-	-
Reclassification of loss included in profit and loss account	680,028	(1,154,962)
	680,028	(1,154,962)

Total comprehensive income for the period 484,026,436 455,960,858

The annexed notes from 1 to 27 form an integral part of these condensed interim financial information.

CHAIRMAN CHIEF EXECUTIVE DIRECTOR DIRECTOR CHIEF FINANCIAL OFFICER

EAST WEST INSURANCE COMPANY LIMITED

CONDENSED INTERIM STATEMENT OF CHANGES IN EQUITY (UNAUDITED)

FOR THE PERIOD ENDED MARCH 31, 2026

Share capital	Reserves		Total reserves	Unappropriate d profit	Total
Issued	General reserve	Unrealized gain on available for sale investment
subscribed and paid-up
			Rupees

2,558,779,950

1,170,000,000

(39,338,611)

1,130,661,389

981,814,058

4,671,255,397

Balance as at January 01, 2025

Total comprehensive income for the period

Profit for the period

Other comprehensive income

-	-	-	-	457,115,820	457,115,820
-	-	(1,154,962)	(1,154,962)	-	(1,154,962)
-	-	(1,154,962)	(1,154,962)	457,115,820	455,960,858

Transfer to general reserve 350,000,000 350,000,000 (350,000,000) -

2,558,779,950

1,170,000,000

(40,493,573)

1,129,506,427

1,438,929,878

5,127,216,255

Balance as at January 01, 2026

Total comprehensive income for the period

Profit for the period

Other comprehensive income

2,814,657,940

2,120,000,000

(1,757,343)

2,118,242,657

1,225,386,217

6,158,286,814

-	-	-	-	483,346,408	483,346,408
-	-	680,028	680,028		680,028
-	-	680,028	680,028	483,346,408	484,026,436

Balance as at March 31, 2025

2,814,657,940

2,120,000,000

(1,077,315)

2,118,922,685

1,708,732,625

6,642,313,250

Balance as at March 31, 2026

The annexed notes from 1 to 27 form an integral part of these condensed interim financial information.

CHAIRMAN CHIEF EXECUTIVE DIRECTOR DIRECTOR CHIEF FINANCIAL OFFI

EAST WEST INSURANCE COMPANY LIMITED

CONDENSED INTERIM STATEMENT OF CASH FLOWS (UNAUDITED)

FOR THE PERIOD ENDED MARCH 31, 2026

March 31,

2026

March 31,

2025

INVESTMENT ACTIVITIES

Profit / return received

Dividend received

Other income received

Payment for investments

Proceeds from investment

Fixed capital expenditure

Peoceeds from disposal of fixed assets

Total cash flow from investing activities

55,651,469
7,723,250
7,722,075
(3,422,036,650)
2,728,047,749
(20,646,094)
-
(643,538,201)

45,247,298
3,111,715
2,221,634
(1,208,745,352)
1,103,529,983
(43,016,863)
668,000
(96,983,585)

FINANCING ACTIVITIES

Loan received from director

Loan repaid to director

Payment of finance lease

Total cash flow from financing activities

Net cash used in all activities

Cash and cash equivalents at beginning of the period

Cash and cash equivalents at end of the period

- 1,500,000

- -

- 1,500,000

(39,908,950) (25,686,295)

2,357,165,317 295,055,483

2,317,256,367 269,369,188

OPERATING CASH FLOWS

(a) Underwriting activities

Insurance premium received

Reinsurance premium paid

Claims paid

Reinsurance and other recoveries received

Commission paid

Commission received

Underwriting payments

Net cash inflows from underwriting activities

(b) Other operating activities

Income tax paid

Other operating payments

Net cash used in other operating activities

Total cash flow from all operating activities

2,990,849,620		1,833,954,078
(1,050,865,589)		(474,244,899)
(1,348,783,862)		(853,827,862)
420,690,463		334,896,288
(766,120,220)		(469,494,210)
234,068,351		138,077,856
(371,007,726)		(254,923,162)
108,831,037		254,438,089

(46,166,784) (18,101,468)

540,964,998 (166,539,331)

494,798,214 (184,640,799)

603,629,251 69,797,290

The annexed notes from 1 to 27 form an integral part of these condensed interim financial informatio

CHAIRMAN CHIEF EXECUTIVE DIRECTOR DIRECTOR CHIEF FINANCIAL O

EAST WEST INSURANCE COMPANY LIMITED

CONDENSED INTERIM STATEMENT OF CASH FLOWS (UNAUDITED)

FOR THE PERIOD ENDED MARCH 31, 2026

March 31,

2026

March 31,

2025

Reconciliation to profit and loss account

Operating cash flows

Depreciation expense

Amortization expense

Profit on disposal of fixed assets

Investment income

Dividend income

Gain on investment securities

Other income

Profit on takaful operations

(Increase) / Decrease in assets other than cash

Increase / (Decrease) in operating liabilities

Profit for the period

603,629,251	69,797,290
(13,026,884)	(9,509,724)
(4,341)	(6,201)
-	653,383
55,651,469	45,247,298
7,723,250	3,111,715
(148,060,427)	77,176,824
7,722,075	2,221,634
48,482,295	26,188,145
(426,819,503)	(206,056,146)
348,049,223 448,291,601
483,346,408	457,115,819

Definition of cash

Cash comprises of cash in hand, policy stamps in hand, bank balances and other deposits which are readily convertible to cash and which are used in the cash management function on a day-to-day basis.

Cash for the purpose of statement of cash flows consist of:

March 31,

2026

March 31,

2025

Cash and other equivalents

Current and other accounts

Deposits maturing within 12 months

2,081,540 2,775,723

1,295,743,164 123,325,610

1,019,431,663 143,267,855

2,317,256,367 269,369,188

The annexed notes from 1 to 27 form an integral part of these condensed interim financial information.

CHAIRMAN CHIEF EXECUTIVE DIRECTOR DIRECTOR CHIEF FINANCIAL OFFICER

EAST WEST INSURANCE COMPANY LIMITED
NOTES TO THE CONDENSED INTERIM FINANCIAL INFORMATION (UNAUDITED)
FOR THE PERIOD ENDED MARCH 31, 2026
1	LEGAL STATUS AND NATURE OF BUSINESS

East West Insurance Company Limited (the Company) was incorporated as a public limited company in

the year 1983 under the Companies Act, 1913, the shares of the Company are quoted on the Pakistan Stock Exchange Limited. The Company is engaged in the general insurance business comprising of fire and property, marine, aviation and transport, motor and miscellaneous etc.

The company commenced Window Takaful Operations (WTO) from May 08, 2018 as per Securities

Exchange Commission of Pakistan (SECP) Takaful Rules, 2012.

2	GEOGRAPHICAL LOCATION AND ADDRESSES OF BUSINESS UNITS

The registered office of the Company is situated at 27, Regal Plaza, Jinnah Road, Quetta. The principal place of business is situated at Sarwar Shaheed Road, Lakson Square Building No. 03, 4th, Floor Karachi. The Company operates through 3(2025: 3) principal offices and 25 (2025:25) branches in Pakistan.

3	BASIS OF PREPARATION

3.1	Statement of compliance

This condensed interim financial information is unaudited but subject to the limited scope review by the auditors and is being submitted to the shareholders as required under section 237 of the Companies Act, 2017 and the listing regulations of the Pakistan Stock Exchange.

This condensed interim financial information does not include all the information 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, 2025 which have been prepared in accordance with approved accounting standards as applicable to insurance companies in Pakistan.

This condensed interim financial information of the Company for the period ended March 31, 2026 has been prepared in accordance with the requirements of the International Accounting Standard 34 - (IAS 34): Interim Financial Reporting, provisions of and directives issued under the Companies Act, 2017, the Insurance Ordinance, 2000, the SEC (Insurance) Rules, 2017, Insurance Accounting Regulations,

2017 and Takaful Rules, 2012.

In case where requirements differ, the provisions of or directives issued under the Companies Act, 2017, the Insurance Ordinance, 2000, the SEC (Insurance) Rules, 2017, Insurance Accounting Regulations, 2017 and Takaful Rules, 2012 have been followed.

In terms of the requirement of the Takaful Rules 2012, read with SECP circular 25 of 2015 dated 09

July 2015, the assets, liabilities and profit and loss of the Operator's fund of the General Takaful Operations of the Company have been presented as single line item in the condensed interim statement of financial position and statement of profit and loss account of the Company respectively.

Basis of measurement

The comparative statement of financial position presented in this condensed interim financial information has been extracted from the annual audited financial statements of the Company for the year ended December 31, 2025, whereas the comparative 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 information for the period ended March 31, 2025.

3.2

This condensed interim financial information has been prepared under the historical cost convention except for certain financial assets which are stated at fair value.

This condensed interim financial information has been prepared following accrual basis of accounting except for cash flow information.

3.3	Functional and presentation currency

This condensed interim financial information has been prepared and presented in Pakistan Rupees, which is the Company's functional and presentation currency.

4	USE OF ESTIMATES AND JUDGMENTS

The preparation of condensed interim financial information in conformity with the requirements of

approved accounting standards as applicable in Pakistan requires management to make judgments / estimates and associated assumptions that affect the application of policies and reported amounts of assets and liabilities, income and expenses. The judgments / estimates and associated assumptions are based on historical experience, current trends and various other factors that are believed to be reasonable under the circumstances, the result of which form the basis of making the estimate about carrying values of assets and liabilities that are not readily apparent from other sources.

Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on ongoing basis. Revisions to accounting estimates are recognized in the period in which the estimate is revised, if the revision affects only that period, or in the period of the revision and future periods if the

revision affects both current and future periods.

In preparing this condensed interim financial information, the significant judgments made by management in applying the Company's accounting policies and the key sources of estimating uncertainty were the same as those applied to the financial statements of the Company for the year ended December 31, 2025.

5	SIGNIFICANT ACCOUNTING POLICIES

5.1

The accounting policies and the methods of computation adopted by the Company in the preparation of

this condensed interim financial information are same as those applied in the preparation of the preceding annual audited financials statements for the year ended December 31, 2025. During the period, the Company has changed its accounting policy with respect to subsequent measurement of available for sale securities as explained in note 5.2.1. Further, the Company has also changed its accounting policy with respect to presentation of financial statements and these financial statements have been presented in accordance with the revised format of financial statements as prescribed under the Insurance Rules, 2017 (as explained in note 5.2.2).

Amendments to certain existing standards and new standards and interpretations on approved accounting standards became effective during the period either were not relevant to the Company's operations or did not have any significant impact on the accounting policies of the Company. During the period, the Company has changed format for preparation of its condensed interim financial information to comply with the requirements of the 'Insurance Rules, 2017' issued by SECP vide its S.R.O. 89(1) / 2017 dated

February 09, 2017.

6	PROPERTY AND EQUIPMENT

Opening balance as at

Additions during the period / year

Owned

Office premises

Furniture and fixtures

Electrical fittings and equipments

Computers

Office equipments

Vehicles

285,087,807

204,381,300

181,760

50,000

20,414,334

20,646,094

4,218,823

1,470,001

725,004

167,499

121,764,306

128,345,633

Note December 31,

March 31,

2026

2025 (Audited) ----------------- Rupees -----------------

Less:

Written down value of assets disposed

during the period / year

Deprecation charge for the period / year

-		(262,405)
(13,022,543)		(47,376,721)
292,711,358		285,087,807

March 31,

2026

December 31,

2025

(Audited)

7	RIGHT OF USE OF ASSETS

Cost

Opening

Modification

Depreciation for the period/year

24,508,504

30,714,482

(6,205,978)

24,508,504

8	INTANGIBLE ASSETS

----------------- Rupees -----------------

Intangible assets

Capital work in progress

53,534		57,875
705,000		705,000
758,534		762,875

8.1

8.1	Opening balance as at
	Less: Amortization charge for the period/year

57,875		1,736,980
(4,341)		(1,679,105)
53,534		57,875

9	INVESTMENT PROPERTIES

Invstment properties 40,789,982 41,306,311

9.1

Investment properties comprise of two properties having market value of Rs. 306.50 million as at March

31, 2026 (December 31, 2025: Rs. 306.50 million). Revaluation was carried out by the Company in the month of February 2026 amd March 2026. The valuation exercise was carried out by independent

valuers M/s.Intikhab Alam & Company (Pvt) Ltd and M/s. Tahir Rasheed & Co (Private) Limited.

10	INVESTMENTS IN EQUITY SECURITIES

10.1	Investments - Held For Trading

Market value as at March 31, 2026 Market value as at December 31,

Listed shares

Mutual funds

818,790,130		646,849,117
4,267,406,569		4,135,044,209
5,086,196,699		4,781,893,326

11	INVESTMENTS IN DEBT SECURITIES - Held for Maturity

Government Securities 4,520,351,861 4,543,590,333

11.1	INVESTMENTS IN DEBT SECURITIES - Available for Sale

Others 23,020,000 23,020,000

Total debt securities 4,543,371,861 4,566,610,333

12	INVESTMENT IN TERM DEPOSIT RECEIPTS

1,019,431,663

1,019,750,552

Deposits maturing within 12 months- local currency

These represent Term Deposit Receipts (TDRs) with commercial banks carrying markup ranging from 6.50% to 12.5.% per annum (2025: 12.50% to 20.50% per annum).

13	LOANS AND OTHER RECEIVABLES

Unsecured - considered good

Accrued investment income

Advances

Deposits

Other receivables

39,984,209		56,020,047
124,848,984		154,059,307
24,489,938		29,914,938
54,967,501		18,448,748
244,290,632		258,443,040

13.1

13.1	This represents advances in the normal course of business which do not carry any interest / mark-up.

March 31,

2026

December 31, 2025 Note (Audited) ------------------------ (Rupees) ------------------------

14	INSURANCE / REINSURANCE RECEIVABLES

(Unsecured - considered good)

Due from insurance contract holders

Provision for impairment of receivables from

insurance contract holders

Premium written off

193,875,320 - -		134,346,055 - -
193,875,320		134,346,055
794,674,433		783,526,586
988,549,753		917,872,641

Due from other insurers / reinsurers

15	PREPAYMENTS

Prepaid reinsurance premium ceded

Prepaid rent

Others

1,525,740,853		1,223,569,012
1,190,000		1,190,000
263,660		263,660
1,527,194,513		1,225,022,672

16	CASH AND BANK

2,081,540

37,858

Cash and cash equivalents

Cash at bank

Current accounts

Saving accounts

923,539,600		630,886,475
372,203,564		706,490,432
1,297,824,704		1,337,414,765

15.1

16.1	These include interest bearing accounts carrying interest rates ranging from 7.50% to 11.50% (December 31, 2025: 7.29% to 11.50% ) per annum.

General reserve

Unrealized gain / (loss) on available for sale investments

2,120,000,000		2,120,000,000
(1,077,315)		(1,757,343)
2,118,922,685		2,118,242,657

18	LEASE LIABILITY AGAINST RIGHT
	OF USE ASSETS

Present value of minimum lease payments

Less: current portion of lease liabilities

32,997,626		32,997,626
(10,411,459)		(10,411,459)
22,586,167		22,586,167

Maturity analysis:

Not later than 1 year

Later than 1 year

10,411,459		10,411,459
22,586,167		22,586,167
32,997,626		32,997,626

March 31,

2026

December 31, 2025 Note (Audited)

Sundry creditors

Commission payable

Federal excise duty

Federal insurance fee

Workers' welfare fund

Withholding tax

Unclaimed dividend

Due to director

40,329,965		48,269,933
148,116,526		178,116,526
12,551,066		11,687,573
3,242,572		3,341,011
125,278,843		125,278,843
8,275,320		7,373,197
31,303		31,303
13,514,440		12,924,440
351,340,035		387,022,826

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

19	OTHER CREDITORS AND ACCRUALS

19.1

19.1	The amount of loan is payable to directors which is unsecured and interest free.

20	CONTINGENCIES AND COMMITMENTS

There is no contingencies and commitments as at statement of financial position date March 31, 2026 (December 31, 2025: Nil).

March 31, March 31, 2026 2025 ------------------------ (Rupees) ------------------------

21	NET INSURANCE PREMIUM

Written gross premium

Add: Unearned premium reserve - opening

Less: Unearned premium reserve - closing

Premium earned

3,161,563,682		2,014,481,532
3,688,893,033		2,014,906,473
(3,699,267,841)		(2,037,185,691)
3,151,188,874		1,992,202,314

Less: Reinsurance premium ceded
Add:	Prepaid reinsurance premium - opening
Less:	Prepaid reinsurance premium - closing
Reinsurance expense

1,017,364,151		606,281,901
1,223,569,012		584,176,330
(1,025,740,853)		(554,658,603)
1,215,192,310		635,799,628
1,935,996,564		1,356,402,686

March 31, March 31, 2026 2025

Less: Reinsurance and other recoveries received	420,690,463		334,896,288
Add: Reinsurance and other recoveries in respect of outstanding claims - closing	1,218,963,270		1,014,707,361
Less: Reinsurance and other recoveries in respect of outstanding claims - opening	(1,297,496,276)		(1,094,761,982)
Reinsurance and other recoveries revenue	342,157,457	0	254,841,667
	801,023,368		538,488,682
NET COMMISSION

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

22	NET INSURANCE CLAIMS EXPENSE

Claims paid

Add: Outstanding claims (including IBNR) - closing

Less: Outstanding claims (including IBNR) - opening

Claims expense

1,348,783,862		853,827,862
2,595,611,620		1,505,769,619
(2,801,214,657)		(1,566,267,132)
1,143,180,825		793,330,349

Commission paid or payable

Add: Deferred commission expense - opening

Less: Deferred commission expense - closing

Net commission

736,120,220		468,743,970
494,278,433		547,715,473
(548,526,070)		(561,149,820)
681,872,583		455,309,623
234,068,351		138,077,856
254,051,177		148,806,713
(127,741,032)		(74,267,782)
360,378,496		212,616,787
321,494,087		242,692,836

Less: Commission received or recoverable

Add: Unearned reinsurance commission - opening

Less: Unearned reinsurance commission - closing

Commission from reinsurers

24	INVESTMENT INCOME

Income from equity securities

Held-for-trading

Dividend income

Gain / (loss) on disposal of securities

7,723,250		3,111,715
13,060,490		1,390,220
20,783,740		4,501,935

Income from debt securities

Held for Maturity

Return on debt securities

Pakistan Investment bond

Gop Ijara Sukuk

Treasury Bills

38,992,288		31,814,095
6,215,903		-
73,547,348		41,838,285
118,755,539		73,652,380

Available for Sale

Gain on disposal of securites

Term Finance Certificates

Corporate Sukuk

318,082

305,261

623,343

3,417,323

355,808

343,727

4,116,858

Return on term deposits

Net unrealized gains / (losses) on investments

at fair value through profit or loss (held for trading)

(148,060,427)		72,369,281
10,287,066		156,419,238
-		-
10,287,066		156,419,238

18,184,871 1,778,784

Weighted average number of

ordinary shares of Rs. 10 each

Investment related expenses

25	EARNINGS PER SHARE - basic and diluted

for the period ended

March 31,

2026

March 31,

2025

Profit for the period	483,346,408	457,115,820

	281,465,794	281,465,794
Earnings per share - rupees	1.72	1.62

25.1	There is no dilutive effect on basic earning per share of the Company.

26	TRANSACTIONS WITH RELATED PARTIES

Related parties comprise of associated companies, entities under common control, entities with common Directors, major shareholders and key management personnel of the Company. Transactions with related parties are carried out at arm's length prices except for compensation to key management personnel which is carried out on basis of employment terms and conditions. The transactions with related parties are as follows:

Period ended March 31

Nature of relationship Common directorship	Nature of transaction Investment in associated company	2026 Rupees -	2025 Rupees -
Directors and Key Management Personnel	Loan received from directors	1,500,000	-
	Loan repaid to directors	-	-
	Remuneration paid	4,200,000	5,635,000

GENERAL

27.1	This condensed interim financial information was authorised for issue in the Board of Directors meeting of the Company held on April 29, 2026.

27.2	The figures have been rounded off to the nearest Pakistan rupee unless otherwise stated.

CHAIRMAN CHIEF EXECUTIVE DIRECTOR DIRECTOR CHIEF FINANCIAL OFFICER EAST WEST INSURANCE COMPANY LIMITED - WINDOW TAKAFUL OPERATIONS CONDENSED INTERIM STATEMENT OF FINANCIAL POSITION AS AT MARCH 31, 2026 Operator's Fund Participant's Takaful Fund

March 31	December 31,	March 31	December 31,
2026	2025	2026	2025
(Unaudited)	(Audited)	(Unaudited)	(Audited)

ASSETS Note -------------------Rupees------------------ ------------------Rupees------------------

Property and equipment	6	7,704,502	7,822,252	-	-
Investment property - at cost	7	26,931,008	27,271,907	-	-
Investment Term deposits		-	-	-	6,000,000
Accrued investment income	8	154	101	30,637	45,220
Qard-e-Hasna to Participants' Takaful Fund (PTF)	9	46,520,000	46,520,000	-	-
Takaful / re-takaful receivables	10	-	-	826,265,597	677,083,559
Receivable from PTF	11	398,861,687	329,820,002	-	-
Retakaful recoveries against
outstanding claims		-	-	129,088,436	208,755,003
Taxation - payment less provision	12	-	-	28,172	-
Deferred wakala fee expense		-	-	155,551,230	162,531,947
Deferred commission expense	23	95,895,928	96,908,117	-	-
Advance against purchase of property	13	138,500,000	138,500,000	-	-
Prepayments	14	72,000	36,000	69,367,960	95,051,754
Cash and bank	15	163,926	151,439	4,213,991	10,291,376
TOTAL ASSETS		714,649,205	647,029,818	1,184,546,023	1,159,758,859
FUND AND LIABILITIES
Operators' Fund
Statutory Fund		50,000,000	50,000,000	-	-
Accumulated profit		382,582,797	333,740,502	-	-
Total Operaters Fund	432,582,797		383,740,502	-	-
Participants' Takaful Fund
Ceded money		-	-	500,000	500,000
Accumulated surplus		-	-	130,404,968	86,283,843
Balance of Participant Takaful Fund		-	-	130,904,968	86,783,843
Qard-e-Hasna from Operator's Fund	9	-	-	46,520,000	46,520,000

LIABILITIES Underwriting provisions

Outstanding claims		-	-	154,451,858	239,364,229
Unearned contribution reserve		-	-	422,703,758	431,848,892
Unearned Re-takaful rebate		-	-	16,230,495	15,174,611
		-	-	593,386,111	686,387,732
Takaful / Re-takaful payable	16	-	-	6,364,249	863,274
Unearned wakala fee		155,551,230	162,531,947	-	-
Contribution received in advance		-	-	-	-
Payable to OPF	11	-	-	398,361,687	329,320,002
Other creditors and accruals	17	83,614,166	57,299,633	9,009,008	9,884,008
Taxation - net	18	37,890,951	37,890,951
Payable to East West Insurance Company Limited	19	5,010,061	5,566,785	-	-
TOTAL LIABILITIES		282,066,408	263,289,316	1,007,121,055	1,026,455,016
TOTAL FUND AND LIABILITIES		714,649,205	647,029,818	1,184,546,023	1,159,758,859
CONTINGENCIES AND COMMITMENTS	5

The annexed notes from 1 to 30 form an integral part of this financial information.

CHAIRMAN CHIEF EXECUTIVE OFFICER DIRECTOR DIRECTOR CHIEF FINANCIAL OFFICER

EAST WEST INSURANCE COMPANY LIMITED - WINDOW TAKAFUL OPERATIONS

CONDENSED INTERIM PROFIT AND LOSS ACCOUNT

FOR THE QUARTER ENDED MARCH 31, 2026 (Un-Audited)

March 31	March 31
2026	2025
-------------------Rupees-------------------

Note Participants' Takaful Fund

Contributions earned

Less: Contributions ceded to retakaful

Net contributions revenue

Retakaful rebate

Net underwriting income

Net claims - reported / settled

Other direct expenses

Surplus before investment income

Investment income

Less: Modarib share of investment income

228,150,462	119,478,959
(118,250,565)	(51,251,135)
109,899,897	68,227,824
12,829,132	8,041,109
122,729,029	76,268,933
(78,670,668)	(58,545,418)
(376)	(2,160)
44,057,985	17,721,355
126,281	63,059
(63,140)	(31,530)

Surplus transferred to accumulated surplus 44,121,125 17,752,884

Operator's Fund

Wakala fee

Commission expense

Management expenses

143,993,010	84,155,457
(92,124,906)	(55,680,175)
(3,931,149)	(3,109,433)
47,936,955	25,365,849
63,140	31,530
8,995	30,035
833,205	760,731
-	-
48,842,295	26,188,145

Modarib's share of PTF investment income

Investment income

Rental income

Other expenses

Profit for the period

The annexed notes from 1 to 30 form an integral part of this financial information.

CHAIRMAN CHIEF EXECUTIVE OFFICER DIRECTOR DIRECTOR CHIEF FINANCIAL OFFICER

EAST WEST INSURANCE COMPANY LIMITED - WINDOW TAKAFUL OPERATIONS

CONDENSED INTERIM STATEMENT OF COMPREHENSIVE INCOME

FOR THE QUARTER ENDED MARCH 31, 2026 (Un-Audited)

March 31	March 31
2026	2025
--------------Rupees--------------

Total comprehensive surplus for

the period

Participants' Takaful Fund

Surplus for the period Other comprehensive income	44,121,125 -	17,752,884 -
	44,121,125	17,752,884
Operator's Fund Profit for the period	48,842,295	26,188,145
Other comprehensive income	-	-
Total comprehensive income for the period	48,842,295	26,188,145

The annexed notes from 1 to 30 form an integral part of this financial information.

CHAIRMAN CHIEF EXECUTIVE OFFICER DIRECTOR DIRECTOR CHIEF FINANCIAL OFFICER

EAST WEST INSURANCE COMPANY LIMITED - WINDOW TAKAFUL OPERATIONS

CONDENSED INTERIM STATEMENT OF CHANGES IN FUND

FOR THE QUARTER ENDED MARCH 31, 2026 (Un-Audited)

	Operator's Fund
Statutory Fund	Accumulated Profit	Total
------------------------ Rupees ---------------------------

Balance as at January 1, 2025

Total comprehensive income for the period

Surplus for the period

Other comprehensive income

Balance as at March 31, 2025

Balance as at January 1, 2026	500,000 86,283,843 86,783,843
Total comprehensive income for the period
Surplus for the period	- 44,121,125 44,121,125
Other comprehensive income	- - -
	- 44,121,125 44,121,125
Balance as at March 31, 2026	500,000 130,404,968 130,904,968

The annexed notes from 1 to 30 form an integral part of this financial information.

289,081,451

26,188,145

315,269,596

Balance as at January 1, 2025	50,000,000 239,081,451
Total comprehensive income for the period
Profit for the period	- 26,188,145
Other comprehensive income	- -
	- 26,188,145
Balance as at March 31, 2025	50,000,000 265,269,596

Balance as at January 1, 2026	50,000,000 333,740,502
Total comprehensive income for the period
Profit for the period	- 48,842,295
Other comprehensive income	- -
	- 48,842,295
Balance as at March 31, 2026	50,000,000 382,582,797

	Participants' Fund
Ceded Money	Accumulated Surplus	Total
------------------------ Rupees ---------------------------
500,000	64,561,786	65,061,786
-	17,752,884	17,752,884
-	-	-
-	17,752,884	17,752,884
500,000	82,314,670	82,814,670

383,740,502

48,842,295

432,582,797

CHAIRMAN CHIEF EXECUTIVE OFFICER DIRECTOR DIRECTOR CHIEF FINANCIAL OFFICER

EAST WEST INSURANCE COMPANY LIMITED - WINDOW TAKAFUL OPERATIONS CONDENSED INTERIM STATEMENT OF CASH FLOWS

FOR THE QUARTER ENDED MARCH 31, 2026 (Un-Audited)

Operator's Fund Participant's Takaful Fund

March 31,	March 31,	March 31,	March 31,
2026	2025	2026	2025

---------------------------------------Rupees--------------------------------------

OPERATING CASH FLOWS

Takaful activities

Contribution received	-	-	293,973,001	165,025,779
Retakaful contribution paid	-	-	(92,566,771)	(45,548,463)
Claims paid	-	-	(237,253,953)	(120,715,332)
Retakaful and recoveries received	-	-	78,681,755	37,471,533
Commission paid	(64,292,029)	(37,940,370)	-	-
Retakaful rebate received	-	-	13,885,016	6,039,118
Wakala fee received	67,970,608	40,210,213	-	-
Wakala fee paid	-	-	(67,970,608)	(40,210,213)
Modarib share received	63,140	31,530
Modarib share paid	-	-	(63,140)	(31,530)
Net cash flow tactful activities	3,741,720	2,301,373	(11,314,701)	2,030,892

-	(7,330)	(28,172)	(17,632)
-	-	(376)	(2,160)
(3,181,451)	(2,553,037)	-	-
(556,724)	238,843	(875,000)	425,200

Other operating activities Income tax paid Direct expenses paid

Management expenses paid

Other operating payments/receipts

Net cash flow from other operating activities

(3,738,175)

(2,321,524)

(903,548)

405,408

Total cash used in all operating activities

INVESTMENT ACTIVITIES

3,545

(20,151)

(12,218,249)

2,436,300

Profit received on investment income Proceeds from disposal of investments

Total cash flow generated from / (used in) investing activities

8,942	48,868	140,864	87,817
-	-	-	-

8,942 48,868 140,864 87,817

FINANCING ACTIVITIES

Contribution to the Operator's fund Ceded money

Qard-e-Hasna from OPF

Total cash flow generated from financing activities	-	-	-	-
Net cash flow from all activities	12,487	28,717	(12,077,385)	2,524,117
Cash and cash equivalents at beginning of the period	151,439	107,799	16,291,376	1,294,773
Cash and cash equivalents at end of the period	163,926	136,516	4,213,991	3,818,890
Reconciliation to profit and loss account:

3,545	(20,151)	(12,218,249)	2,436,300
(458,649)	(488,044)	-	-
8,942	48,868	140,864	87,817
-	-	-	-
68,065,550	23,105,807	36,864,549	30,306,161
(18,777,092)	3,541,665	19,333,961	(15,077,394)

Operating cash flows Depreciation Investment income Rental income

Increase / (decrease) in assets other than cash Increase / (decrease) in liabilities

Profit / surplus for the period 48,842,295 26,188,145 44,121,125 17,752,884

The annexed notes from 1 to 30 form an integral part of this financial information.

CHAIRMAN CHIEF EXECUTIVE OFFICER DIRECTOR DIRECTOR CHIEF FINANCIAL OFFICER

EAST WEST INSURANCE COMPANY LIMITED - WINDOW TAKAFUL OPERATIONS

NOTES TO THE CONDENSED INTERIM FINANCIAL STATEMENTS (UNAUDITED)

FOR THE QUARTER ENDED MARCH 31, 2026

1	STATUS AND NATURE OF BUSINESS

1.1	East West Insurance Company Limited (the Operator) has been allowed to undertake Window Takaful Operations (WTO) on May 08, 2018 by Securities and Exchange Commission of Pakistan (SECP) under SECP Takaful Rules, 2012 to carry on General Window Takaful Operations in Pakistan.

1.2

For the purpose of carrying on the takaful business, the Operator has formed a Participants'

Takaful Fund (PTF) on April 06, 2018 under the Waqf deed with the ceded money of Rs. 500,000. The Waqf deed and PTF policies (Waqf Rules) which govern the relationship of Operator, Waqf and Participants for management of Takaful operations, investment of Waqf and Operator's Fund are approved by the Shariah Advisor of the Operator.

1.3	The registered office of the Operator is situated at 27, Regal Plaza, Jinnah Road, Quetta. The principal place of business is situated at Sarwar Shaheed Road, Lakson Square Building No. 03, 4th, Floor Karachi.

2	BASIS OF PREPARATION AND STATEMENT OF COMPLIANCE

These condensed interim financial statements are prepared in accordance with approved accounting standards as applicable in Pakistan. Approved accounting standards comprise of such International Financial Reporting Standards (IFRS) issued by the International Accounting Standard Board (IASB) and Islamic Financial Accounting Standards (IFAS) issued by the Institute of Chartered Accountants of Pakistan, as are notiefied under the Companies Act 2017. provision of and directives issued under the Companies Act 2017, the Insurance Ordinance 2000, the Takaful Rules 2012 and the General Takaful Accounting Regulations, 2019. In case requirement differ, the provision or directives of the Companies Act 2017, the Insurance Ordinance 2000, the Takaful Rules 2012 and the General Takaful Accounting Regulation 2019 shall prevail.

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.

2.1	These condensed interm financial statement do not include all information and disclosures required in the annual financial statements and should be read in conjuction with the Operator's financial statements for the year ended December 31, 2025.

3	BASIS OF MEASUREMENT

These condensed interim financial statements have been prepared under the historical cost convention except that certain investments are stated at lower of cost and market value.

4	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

The significant accounting policies adopted in the preparation of these condensed interim financial statements are consistant with those followed in the preparation of annual financial statements for the year ended December 31, 2025.

5	CONTINGENCIES AND COMMITMENTS

There is no contingency and commitment as at March 31, 2026.

6	PROPERTY AND EQUIPMENT

March 31, 2026 (Un-Audited)

Cost

Accumulated depreciation

Written down value

Depreciation rate %

As at January 1, 2026

Additions during the

period

As at March 31, 2026

As at January 1,

2026

Depreciation for the period

As at March 31, 2026

----------------------- Rupees --------- ------------------------------------------------ Rupees ---------------------------------------------

Office Premises	10,000,000	-	10,000,000	2,710,338	91,121	2,801,459	7,198,541	5%
Vehicles	2,300,000	-	2,300,000	1,767,410	26,630	1,794,040	505,961	20%
	12,300,000	-	12,300,000	4,477,748	117,750	4,595,498	7,704,502

December 31, 2025 - audited

12,300,000

3,960,935

516,813

4,477,748

7,822,252

7	INVESTMENT PROPERTY

March 31, 2026 (Un-Audited)
Cost			Accumulated depreciation			Written down value	Depreciation rate %
As at January 1, 2026	Additions during the period	As at March 31, 2026	As at January 1, 2026	Depreciation for the period	As at March 31, 2026	Written down value	Depreciation rate %
Rupees		Rupees
38,000,000	-	38,000,000	10,728,093	340,899	11,068,992	26,931,008	5%
38,000,000	-	38,000,000	10,728,093	340,899	11,068,992	26,931,008

Office permises

December 31, 2025 - audited

38,000,000

9,292,729

1,435,364

10,728,093

27,271,907

8	ACCRUED INVESTMENT INCOME

Operator's Fund		Participants Takaful Fund
March 31,	December 31,	March 31,	December 31,
2026	2025	2026	2025
(Unaudited)	(Audited)	(Unaudited)	(Audited)
	------------------Rupees--------------------

Income accrued on savings account

9	QARD-E-HASNA TO PARTICIPANT'S TAKAFUL FUND (PTF)

Opening as at January 1st

Qard-e-hasna transfered from OPF during the period / year

Closing

10	TAKAFUL / RE-TAKAFUL RECEIVABLES (PTF)

Participants' Takaful Fund

Due from takaful participant holders

Due from other takaful / re-takaful operators

11	RECEIVABLE FROM PTF / PAYABLE TO OPF

Other receivable / payable

Note

March 31,	December 31,
2026	2025
(Unaudited)	(Audited)
---------------- Rupees ---------------

154		101 30,637		45,220
154		101 30,637		45,220

37,150,000

9,370,000

46,520,000

203,227,429

623,038,168

826,265,597

190,499,005

486,584,554

677,083,559

12	TAXATION - PAYMENT LESS PROVISION

398,861,687		329,820,002 (398,361,687)		(329,320,002)
398,861,687		329,820,002 (398,361,687)		(329,320,002)

Tax deducted at source - - 28,172 -

13	ADVANCE AGAINST PURCHASE OF PROPERTY

This represent advance payments made to East West Insurance Company Limited against purchase of office premises i.e. Ali Tower, 4th floor, Gulberg, Lahore.

14	PREPAYMENTS

Prepaid retakaful contribution ceded

Other prepayments

-	- 69,367,960	95,051,754
72,000	36,000 -	-
72,000	36,000 69,367,960	95,051,754

Operator's Fund		Participants Takaful Fund
March 31,	December 31,	March 31,	December 31,
2026	2025	2026	2025
(Unaudited)	(Audited)	(Unaudited)	(Audited)
	------------------Rupees--------------------

15	CASH AND BANK

Cash and cash equivalents

Policy stamps

167,640 174,370

Cash at bank

PLS savings accounts

163,926		151,439 4,046,351		10,117,006
163,926		151,439 4,213,991		10,291,376

March 31,	December 31,
2026	2025
(Unaudited)	(Audited)
---------------- Rupees ---------------

16	TAKAFUL / RETAKAFUL PAYABLE (PTF)

17	OTHER CREDITORS AND ACCRUALS

Salaries payable

Staff provident fund

Commission payable

Withholding tax payable

Accrued expenses

1,209,366

216,226

80,897,624

98,105

1,192,845

83,614,166

18	TAXATION - NET

Provision for income tax

Less: Advance tax

19	PAYABLE TO EAST WEST INSURANCE COMPANY LIMITED (OPF)

Participants' Takaful Fund

Due to other takaful / re-takaful

Local

37,890,951		38,009,827
-		118,876
37,890,951		37,890,951

This represents the amount payable in respect of expenses incurred by East West Insurance Company Limited on behalf of the Operator.

6,364,249 863,274

982,836

170,126

54,076,936

79,685

1,990,050

57,299,633

6,364,249 863,274

9,009,008

9,884,008

March 31,	March 31,
2025	2025
--------------------Rupees--------------------

Note

20	NET TAKAFUL CONTRIBUTION

Written gross contribution

Wakala fee

Contribution net of wakala

Unearned contribution reserve -Opening

Unearned contribution reserve -Closing

Contribution earned

Less:

Re-takaful contribution ceded

Prepaid retakaful contribution ceded-Opening

Prepaid retakaful contribution ceded -Closing

Retakaful expense

21	NET TAKAFUL CLAIMS

Claims paid

Outstanding claims -Opening

Outstanding claims -Closing

Claim expense

Recoveries and other recoveries received

Add: Retakaful and other recoveries in respect of outstandin claim-closing

Less: Retakaful and other recoveries in respect of outstandin claim-opening

Participants' Takaful Fund

362,998,338		187,210,488
(143,993,010)		(84,155,457)
219,005,328		103,055,031
431,848,892		241,339,836
(422,703,758)		(224,915,908)
228,150,462		119,478,959

92,566,771 43,511,651

95,051,754 56,552,324

(69,367,960) (48,812,840)

118,250,565 51,251,135

109,899,897 68,227,824

237,253,953 120,715,332
(239,364,229) (146,752,248)
154,451,858 146,752,248
152,341,582 120,715,332
153,337,481 62,169,914
129,088,436 122,591,904
(208,755,003) (122,591,904)
73,670,914 62,169,914

78,670,668 58,545,418

22	RETAKAFUL REBATE

Retakaful rebate received

Unearned retakaful rebate - opening

Unearned retakaful rebate - closing

Rebate from takaful operator

13,885,016		6,039,118
15,174,611		9,886,236
(16,230,495)		(7,884,245)
12,829,132		8,041,109

23	COMMISSION EXPENSE

Operators' Fund

Commission paid

Deferred commission expense - opening

Deferred commission expense - closing

91,112,717		48,112,717
96,908,117		51,837,136
(95,895,928)		(44,269,678)
92,124,906		55,680,175

24	WAKALA EXPENSE

Participants' Takaful Fund

Gross wakala fee

Deferred wakala expense - opening

Deferred wakala expense - closing

137,012,293		70,858,981
162,531,947		90,641,456
(155,551,230)		(77,344,980)
143,993,010		84,155,457

March 31,	March 31,
2026	2025
--------------------Rupees--------------------

The operator manages the general takaful operations for the participants' and charges 40% for fire, 35% for motor, 40% for marine and 35% for engineering, 35% for miscellaneous, 20% for health classes, of gross contribution including adminstrative surcharges as wakala fee against the services.

Note

25	MANAGEMENT EXPENSES

Operators' Fund

Salaries, allowances and employee benefit

Depreciation expenses

Shariah registrar fees

3,022,500

458,649

450,000

2,171,389

488,044

450,000

3,931,149 3,109,433

26	INVESTMENT INCOME

Return on bank balances

- Return on PLS saving Accounts

8,995 30,035

Total investment income 8,995 30,035

Participants' Fund

Return on bank balances

- Return on PLS saving Accounts

Less: Investment related expenses

126,281		63,059
(63,140)		(31,530)
63,140		31,529

March 31,	March 31,
2026	2025
--------------------Rupees--------------------

Note

27	OTHER EXPENSES

Operators' Fund

Auditor's remuneration - -

- -

28	RELATED PARTY TRANSACTION

The Operator has related party comprise of the associates, subsidiary company, directors, key management personnel and staff retirement funds. All transactions involving related parties arising in the normal course of business are conducted at commercial terms and conditions. Detail of related parties transactions with balances are as follows:

Relationship with the Company Basis of Relationship

March 31, 2026 December 2025 Rupees

Loan received/(paid) from/to East West Insurance Company Limited

Window Takaful Operator Management Company

(556,724) (26,617,403)

- -

Remuneration Paid Services Key Management Personal 1,350,000 2,766,667

Payable to related parties
East West Insurance Company Limited	5,010,061	5,566,785
Key management personal	850,000	700,000
	5,860,061	6,266,785

29	DATE OF AUTHORIZATION FOR ISSUE

These financial statements were authorized for issue on April 29, 2026 by the Board of Directors of the Operator.

GENERAL

Figures have been rounded off to the nearest rupee unless otherwise stated.

CHAIRMAN CHIEF EXECUTIVE OFFICER DIRECTOR DIRECTOR CHIEF FINANCIAL OFFICER

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