Financial Results for the Quarter Ended June 30, 2025

LIFE INSURANCE

Ref: JLI/CO.SEC./PSX-XSE/ 2025/o3 B

August 19, 2025 The General Manager

Pakistan Stock Exchange Limited Stack Exchange Building

Stock Exchange Road

Karachi

SUBJECT: FINANCIAL RESULTS FOR THE HALF YEAR ENDED 3UNE 30, 2025

Dear Sir

We have to inform you that the Board of Directors of Jubilee Life Insurance Company Limited in their Board fleeting held on August 19, 2025 at 10:00 a.m. at Jubilee Life Head Office Building, 74/1-A, Lalazar, N.T. Khan Road, Karachi, recommended the tollawiRg:

1. CASH DIVIDEND

   Interim cash dividend for the year 2025 at Rs. 3.00 per share i.e @ 3O9o.

   The Share Transfer Books of the Company will remain closed from August 27, 2D25 to August 29, 2025 (both days inclusive). Transfers received in order by our Registrar, N/s. CDC Share Registrar Services Limited, CDC House, 99-B, Block - B, S.N.C.H.S., I'4ain Shahra-e-Faisal, Karachi - 74400, at the close of business on August 26, 2025 will be treated in time for the purpose of above entitlement to the transferees.

2. BONUS SHARES

3. RIGHT SHARES

   ANY OTI4ER ENTITLEMENT/ CORPORATE ACTION

   
   
   

   ANY OTHER PRICE- SENSITIVE INFORPIATION FINANCIAL RESULTS

   The financial results of Ehe Company are as follows:

   NIL

   INIL

   TtIL

   NIL

   
   
   

   Jub‹lee

   LIFE INSURANCE

   «uBILEE LIFE INSURANCE COf4PANY LIf•lITED

   Condensed Interim Statement of Financial Position

   As at June 3o, 2o2s

   3une 30. December 31,

   2025 2024

   (Un-audited} (Audited)
   Arretr	-	-- {Rupees in '000} -------	---
   Property and equipment	3,667,999		3,472,902
   Intangible assets	125,024		86,847
   Right"of-use assets			828,259
   Investment in an associate	33 k,280		307,498
   Investments
   Equity securities	15,676,812		16,358,340
   Government securities	176,345,913		177,S13,326
   Debt securities	5,700,764		5,895,591
   Open-ended mutual funds 24,665,623 19,492,693
   Insurance / reinsurance receivables	a,ezo,osz			3,005,205
   Derivative financial instrument				1,601
   Other loans and receivables				5,070,679
   Taxation - payments less provision				625, 77O
   Retirement benefit prepayment	46,358			86,409
   Prepayments	514,071			232,515
   Cash and bank	4,745,912			3,786,463
   Total Assets				236,764,098
   Equity and Liabilities
   Capital and reserves attributable to the Company's equity holders
   Share capital	1,003,534			1,00Z,534
   Money ceded to waqf fund	BoO			500
   Gain on revaluation of available-for-sale Investments	411,711			691,625

   Retained earnings arising from business other than participating business attributable to shareholders (Ledger account D)

   Translation reserve relating to investment in associate -net of tax

   S,4O8,319

   yg gym

   5,694,254

   	2O5,0B7,339
   	125,000
   960,630	994,425
   1,889,534	2,032,857
   296,805	338,323
   8,956,354	8,258,635
   2,404,723	2,368,19S 2,655
   	156,597
   67,718	66,089

   67,B46

   Unappropriated profit Total Equity	9,431,805	9,876,224
   Liabilities
   Insurance liabilities
   Borrowing
   Lease liabilities
   Premium rec+ived in advance
   Insurance / reinsurance payables
   Other creditors and accruals
   Deferred taxation Financial charges payable
   Unpaid dividend
   Unclaimed dividend
   Total Liabilities	224,€29,B85	229,430,1:IS
   Total Equity and Liabilities		236,7G4,098

   
   
   

   Jub‹lee

   LIFE INSURANCE

   JUBILEE LZFE INSURANCE COMPANY LI¥41TED

   condensed Interim Statement of Profit or Loss Account {Un-audited)

   For Che Half Year and Quarter ended 3une 30, 3025

   I•lalf Year Ended quarter Ended 3une 30, 3une 30, Juna 3o, June 20,

   2025 2024 2025 2024

   
   
   

   45,151	37,g58	24,384	19,148
   27,8O2,953	J8,529,03B	6,075,089	8,940,841
   B90,19O	102,516	912,850	97,923
   1,251,B68	1,729,311	2,949,009	2,126,188
   15S,0dS	297,018	9d,747	S78,6JJ

   30,4*5,931	28,483,701	14,94B,325	14,814,5a5
   (#2I,8¥8)	(888,657)	(48S,2?S)	(476,g76)
   l6,t¥5	12,116	7,9Z3	?,027

   2,6O0,359	4,969,515	2,58D,017	2,435,105
   	2,958,514	1,725,632	1,537,595
   	3,703,378	2,068,465	1,634,032
   7,638	9,517	4,18?	5,398

   (Rupees in '000)

   Premium / contribution revenue	17,8B4,1L1		22,015,546		12,434,75€		10,097,730
   Premium / contribution ceded to reinsurers	(1,296,519}		(1,159,100)		(142,570)		(149,032)
   Net premium / contribution revenue	26,587,592		20,856,446		2J,294,J8fi		9,948,698
   Fee income
   Investment Income
   Net realised fair value gains pn financial assets
   Net Falr value galns on financial assets at fair value through profit pr loss
   Other Income
   	15,144,205		20,695,841		10,056,079		11,362,911
   	Q1,73t,797		B1,552,2B7		Z2,3#8,267		21,311,609
   Insurance benefits
   Recoveries From reinsurers
   Claims related expenses
   Net Insurance Benefits	29,609,208		27,607,160		14,4?0,983		14,344,636
   Net chanqe in Insurance liabilities (other Ehan outstanding claims)
   Acquisltlon expenses
   Narkecing and administration expenses
   Other expenses
   Total Expenses			11,640,924		8,3'2'8,301		5,612,130
   Realised gain on derivative financial Instrument							!
   Unrealised loss derivative financial Instrument
   Finance cost
   	(s5,337)		(90,724)		(14,t2?)		(3B,122)
   Results of operating actlvities	2,107,737		2,213,479		1,484,856		1,316,721
   Share of profit of associate			11,453				3,533
   Profit hefere tax (refer note below)			2,224,932		1,495,670		1,32Q, Z54
   Income tax expense	(853,707)		(1,003,2tB)		(616,040)		(647,507)
   Proflt after tax for the period	1,273,179		1,221,714		B79,630		672,747
   Earnings per share - Rupees	11.69		12.17		B.77		6.70

   
   
   

   2Os	22,242	{2,33S}	10, DD7
   	(19,B14)	1,160	(7,715)
   	(93,152)	{14,152)	t40,44)

   Profit before tax IS inclusive of the amount of the profit before tax of Lhe Shareholders' Fund, the surplus transfer from the Revenue Account of the Statutory Funds to the Shareholders' Fuhd based on the advlce or the Appointed Actuary, and the undistributed surplus in the Revenue Account of the Statutory Funds which also includes Lhe solvency margins maintained in accordance wlLh the Insurance Rules, 2017. ror details of the surpfus transfer ñ-am the Revenue account or the Statutory Funds to the Shareholders' Fund aggregating to Rs. 1,120 million (3une 30, 2024:

   . t,960 million), please refer to note 25.1, relating to Segmental Information - Revenue Atcount by Statutory Fund.

   
   
   

   LIFE INSURANCE

   3UB7LEE LEFE INSURANCE COMPANY Mf4ETED

   Condensed Entsrtm Statement of Cemprehenslva income (Un-audited)

   For the daft' Year and Quarter ended 3une 30, 2015

   Nail Yaar Ended e••• er Ended

   June 30, 4une 30, 4une 3D, June 30,

   
   
   

   F rafit after tax for the peclod - as per PfoNt or Loss Account

   ltame thot may be classified to proRt Dr loss account In subsequent perfo<>

   Currency transladon dieerences (related t0 net Investment In forelgn assoclate)

   Related deferred tax on currency translation differences

   Ehange in unrealW galns on avallablwfor-sale financial asseD

   
   
   
   
   
   

   sold durlng I:he year

   
   
   
   
   
   

   1,173,E79 1,221,y t< ays,saO 672,747

   	4,921		9,725
   	(1,919)		(3,793)
   	3,002		5,932
   	54,997		269,789
   	(9,165)		(78,3 L6)
   	13,•t33		121,596
   	t6,435		127,528

   
   
   
   
   
   
   
   
   

   t,238,I49

   
   
   
   
   
   

   JUBILEE LIFE INSURANCE CO IPANY LI IITEO

   Condensed Interim Cash Flow Statement {Un-audited)

   For the Hajf Year ended June 30, 2025

   Operating Cash flows

   1. Underwriting activities

      Nalf Year Ended 3une 3O, June 30,

      2O25 2024

      --- -- --- (Rupees in '000) ---------- -

      Insurance premium / contribution received Reinsurance premium / contribution paid Clalms paid

      Surrenders paid

      Reinsurance and other recoveries received Commission paid

      Commission received

      Narketing and administrative expenses paid Other acquisition cost pald

      Net cash outflow from underwriting activities

   2. Other operating activities Income tax paid

Other opera0ng payments Other operating receipts

Unsecured advances paid to employees Recovery of unsecured advances to employees Net cash ouMow from other operating activities

Tetaf cash outflow rrom all operating activities

Invemment activities Profit / return received dividend received

Payment for investments

Proceeds from disposal of investments Fixed capital expenditure

Proceeds from sale of property and equipment Total cash inflow from investing amivTties

Financing activities Dividends paid Financial charges paid

Repayment of borrowing

Payments against lease liabilities

Total cash outflow from financing activities

Net caah infiow / (outflow) from aTT activities Cash and cash equivalents at beginning of the period

Cash and cash equivalents at the end of the period

Reconciliation to Profit or Loss Account Operating cash flows

Depreciation expense

Amortisation expense

Charge for bad and doubtful debts Financial charges on borrowing Finance cost on lease liabilities Dividend inCome

Other Investment income

Profit on disposal of property and equipment Share of profit of associate

Increase in assets other than cash increase in liabilities

Gain on sale of investments Revaluation gain on investments Deferred tax

Profit after tax for the petiod

(1,410,666)

72,629

{2,219,248}

(8,Z49,O47)

(1,36O,2J6}

{9,6O9,293}

tt, sa,sozj

(12B,000)

4,745,922

21,562,133

(972,719)

(11,335,559)

(1 7,349,6S6j

821,418 t2,106,436)

66,026

(2,01g,761)

(1,6d8,914)

(12,943,468)

(1,099,68 S)

(j 4,043,1S3}

13,744,289

(1,357,339)

( 1,656,203)

5,875,056

4,21B,853

Jubiiee

LIFE 1LJSURANCE

Condensed 2ncezlm Statement of Changes in Equity (Un-audited)

fi•or the HaP Tear endad 3une 30, 2020

capital UnapproprJated ceded

-

13.439

3.eoz

-

eront or I-he period after tax

other comprehensive i‹›w›•= - net cY tax

Issue of bonus shsres.for the year ended D'ecember 31, 2023 @ 15'I6(Rs. 1.50 w had)

rnal cash dividend for the year ended December 31,

2023B 1000%(Rs. i0.00VshznM

tRupees in '0Q0) --

500 77,JS9 65,730 4,G08,827L8,353,OG2

Surplus ror the period :et ir.ed In statutory Nnds Balance •a at 3une 30, 2024

5,694,254'

9,d40,g17 sae

0O,B83

66.732 4,983,112 15,5-07,678

other comprehensive (ioss) / income - net of tax

Final cash dividend for che Year ended December 31, 2ozs o ›0o'!6 ‹Rs. 10.o0 per share)

300

67,846

17,393,983

° This includes balances maintalwd In accorda•ce irh he requirements of sects 3S of the nsurence Ordinañce, 2000 read wltn Awe1^ofChe:,=»..nv=Ruks,20l7iomeel

pp m#,-g|##, gp # mandatorily malncsined fbr car-rytng on of the l4'e Insurance business. mls also includes retained eamJngs or Operator-Sub-runds (OSF) amounting to Rs.

292.89 million fJune 30, 2024: ks. 247.19 million)

The Qua«erly Financial Statements of the Company for the perlod ended June 2Q, 2025 VIII be rransmiLted Through PtJCARS within the specified time. Thanking you,

FOR auezLEE MEE yeaSUaanCE CO+tPANV LzFsrrEo

c 5rxutweOireno]HOD,'

Supervision oivis ,

Securities & Exchange COM"'">s'u"'I 8' 8• 63, nlC Building. Jlnnah qveoue,