Jub›/ee
LIFE INSURANCE
Ref : JLI/CO.SEC./PSX-KSE/2026/O}
February 34, 2026
The General Manager
Pakistan Stock Exchange Limited Stock Exchange Building
Stock Exchange Road Karachi
SUBJECT: FINANCIAL RESULTS FOR THE YEAR ENDED DECEMBER 31, 2025
Dear Sir,
We have to inform you that the Board of Directors of Jubilee Life Insurance Company Limited in their Board Meeting held on F'ebruary 24, 2026 at 10:00 a.m. at Jubilee Life Head Office Building, 74/1-A, Lalazar, M.T.
CASH DIVIDEND
A Final Cash Dividend for the year ended December 31, 2025 at Rs. 10.00 per share i.e. 100%. This is in addition to Interim Dividend already paid at Rs. 3.00 per share i.e. 30%.
BONUS SHARES
RIGHT SHARES
ANY OTHER PRICE- SENSITIVE INFORMATION
NIL
NIL
NIL
jubilee L(e InsurQnce COmpany limited
Head Office: 74/ 1- A, Loloza¿ M.!. Khan koad, Karachi 74000, Pakistan
Joe:(02)3ñ2020/,3A05094 *ox:(021)35610959
Registered Office: 26 -D, 3'" 'IoOr, Kashmir 8|aza, innafi Avenue, Blue Area, Islomobod
Phone (OS 282 1903, (OF 1 ) 2206930 37, Fox. (C 31 2825372, WhotsApp us at 021 111 111 354,
UAE (02)) 11-/ 1-53* (jE), kmoil: ino0ub‹eeliecom, compr+usb|ubileeliecom, VVebs#e: vvvvvv|ubJeelJecom
FINANCIAL RESULTS
The financial results of the 'Company are as follows: Statement of Profit or Loss
J«b›lee
LIFE INSURANCE
For the Year ended
2025 2024
---------Rupees in Million---------Revenue | |||
Premium / contribution rev‹*nue | 59,084.66 | 48,712.61 | |
Premium / contribution ceded to reinsurers | (2,429.56) | (2,149.64) | |
Net premium / contribution revenue | 56,655. 10 | 46,562.97 | |
Fee income | 95. 12 | 83.25 | |
Investment income | 24,472.07 | 35,278.66 | |
Net realised fair value gain!: on financial assets | 2,755.10 | S,430.96 | |
Net fair value gains on finailcial assets at fair value through profit or loss | 12,640. 18 | 12,889.64 | |
Other income | 337.22 | 597.25 | |
40,299.69 | 54,279.76 | ||
Net income | 96,954.79 | 100,842.73 | |
Insurance benefits | 57,876.89 | 57,415.84 | |
Recoveries from reinsurers | (1,672.50) | (1,832. 31) | |
Claims related expenses | 31.15 | 29.97 | |
Net Insurance Benefits | 56,135.54 | 55,613.51 | |
Net Change in insurance liabilities (other than outstanding claims) | 21,849.55 | 27,152.40 | |
Acquisition expenses | 7,478.98 | 6,331.79 | |
Marketing and administrati‹›n expenses | 7,138.60 | 7,210.51 | |
Other expenses | 31.38 | 31.68 | |
Total Expenses | 40,726.38 | ||
Realised gain on derivative financial instrument | 33.56 | ||
Unrealised loss on derivati'v e financial instrument | (33.51) | ||
Finance cost | (203. 33) | ||
Results of operating activities | 4,299.55 | ||
Share of profit of associate | 67.29 | 25.39 | |
Profit before tax | 4,18200 | 4,3Z4.94 | |
Income tax expense | (1,751.05) | ||
Profit after tax for the year | 2,573_88 | ||
Earnings per share - Rupees | 24.87 | 25.65 | |
Profit before tax is inclusi› e of the amount of the profit before tax of the Shareholders' Fund, the Surplus Transfer from the Revenue Account of the Statutory Funds to the Sh‹1rehoIders' Fund based on the advice of the Appointed Actuary, and the undistributed surplus in the Revenue Account of the Statutory Funds which alsc includes the solvency margins maintained in accordance with the Insurance Rules, 2017. For details of the Surplus Transfer from 44e Revenue Acc ount of th efStatutory FuRds to thA Sharehblders' Fund aggdegating to Rs. 2,370 million (2024: Rs. 3,355 million), please refer to
the . , re a ing o segnen ai n ormation - evenue ccount y tatutory un .
2
J›b›lee
LIFE INSURANCE
Statement of Other Comprehensive Income2025
For the Year ended
2024---------Rupees in Million---------
Profit after tax for the year - as per Profit or Loss Account Other comprehensive income:
2,495.S fi
(0. 03)
232.25
232.22
76.12
(786.66)
1,168. 31
(149.40)
711.63
i12 |
614.17 616.29 95.34 |
Related deferred tax on cui rency translation differences
Change in unrealized gains on available-for-sale financial assets
Reclassification adjustment relating to available-for-sale investment sold during the year
Related deferred tax
Items that will not be classified to profit or loss account in subsequent period: Actuarial gain on retiremer t benefit schemesOther comprehensive income for the year Total comprehensive inc:ome for the year
3
LIFE INSURANCE
Statement of Financial PositionAs at 31 December
2025 2024
---------Rupees in Million---------
Assets | |||
Property and equipment | 3,795.40 | 3,472.90 | |
Intangible assets | 148.30 | 86.85 | |
Right-of-use assets | 740.89 | 828.26 | |
Investment in associate Investments Equity securities | 367.14 26,641.62 | 307.50 16,358.34 | |
Government securities | 184,189.46 | 177,513.33 | |
Debt securities Term deposits Open-ended mutual furids | 3,858. 51 32,042.82 | 5,895.59 19,492.69 | |
Loans secured against life insurance policies | 160.48 | 84.76 | |
Insurance / reinsurance receivables | 3,541.01 | 2,920.45 | |
Derivative financial instrument | 1.60 | ||
Other loans and receivabii•s | 3,927.49 | 4,920.68 | |
Taxation - payments less provision | 1,195.73 | 625.77 | |
Retirement benefit prepa ment | 78.56 | 86.41 | |
Prepayments | 260.90 | 232.52 | |
Cash and Bank | 4,819. 21 | 3,936.46 | |
Total Assets | 236,764.10 | ||
Equity and Liabilities | |||
Capital and reserves attributable to the Company's equity holders | |||
Share capital | 1,003.53 | 1,003.53 | |
Money ceded to waqf fun‹T | 0.50 | 0.50 | |
Gain on revaluation of av‹ ilable-for-sale investments | 923.88 | 691.63 | |
Retained earnings arising from business other than participating business attributable to *hareholders(Ledger account D)
Translation reserve relati 1g to investment in associate - net of tax Unappropriated profit
Liabilities
7,083.94
67.82
9,753.57
18,833.245,694.25
67.85
9,876.22
17,333.98Insurance liabilities | 230,729.72 | 205,087.34 | |
Borrowings | 125.00 | ||
Lease liabilities | 896.30 | 994.42 | |
Premium received in adv<‹nce | 2,376.76 | 2,032.86 | |
Insurance / reinsurance r ayables | 218.33 | 338.32 | |
Other creditors and accruals | 9,716.14 | 8,258.64 | |
Deferred taxation | 2,932. 28 | 2,368.20 | |
Financial charges payable | 2.66 | ||
Unpaid dividend Unclaimed dividend | 64.75 | 156.60 66.09 |
Total Liabilities
Total Equity and Liabilities
246,934.28
265,767.514
219,430.13 236,764.10Statement of Cash Flows
Operating Cash flows(a} Underwriting activities
LIFE INSURANCE
For the Year ended 2025 2024
---------Rupees in Million---------insurance premium / contribution received Reinsurance premium / contribution paid Claims paid
Surrenders paid
Reinsurance and other rec‹›veries received Commission paid
Commission received
Marketing and administrati 'e expenses paid Other acquisition cost paid
Net cash outflow from und‹*rwriting activities
(b) Other operating activities Income tax paid
Other operating payments Other operating receipts
Unsecured advances paid to employees Recovery of unsecured advances to employees Net cash outflow from other operating activities
Total cash outflow from all operating activities
Investment activitiesProfit / return received Dividend received Payment for investments
Proceeds from disposal of investments
Purchase of property and equipment and intangible assets Proceeds from sale of property and equipment
Total cash inflow from investing activities Financing activities
Dividends paid Financial charges paid
Repayment of borrowing
Loan received
Payments against lease lial›ilities
Total cash outflow from financing activitiesNet cash inflow / (outflow) from all activities Cash and cash equivalents at beginning of the year
Cash and cash equivalents at end of the yearReconciliation to Profit or Loss Account Operating cash flows
Depreciation expense Amortisation expense Bad and doubtful debts
Share of profit from associ.ate Gain on disposal of fixed a':sets Increase in assets other than cash Increase in liabilities
Gain on sale of investments Revaluation gain on investments
Provision of impairment in the value of available for sale equity investments Dividend income
Other investment income Fee and other income
Finance cost on long term oan Finance cost on lease liabil ties rofit after tax for the year
59,006.10
(2,643.97)
(23,984.22)
(30,348.44)
1,616.1 1
(4,767.08)
94.42
(4, 166.68)
(3,438.77)
(8,632.52)(1,841.76)
(13.82)
113.29
(118.15)
109. 10
(1,751.33)
(10,383.86)18,543.87
1,480.40
(539,411.85)
533,483.70
(1,042.23)
160.37
13,214.26
(1,462.53)
(8.57)
(125.00)
(351.56)
(1,947.66)
882743,936.46
4,819.21
(10,383.85)
(599.35)
(58.52)
(154.56)
67.29
85.73
702.60
(27, 281.97)
2,755.10
12,666.93
(16.33)
1,478.54
23,236.12
104.02
(5.92)
(100.32)
2,495.5148,799.68
(2,232.48)
(24,676.13)
(33,039. 59)
1,564.77
(4,591.64)
88.82
(2,551.05)
(3,402.63)
(20,040.15)(2,128.85)
(29.88)
67.54
(459.55)
441.18
(2,109.57)
(22,149.82)
23,242.70
1,177.85
(500,864.21)
499,534. 70
(468.94)
73.29
l,890.89)
(68.50)
(250.00)
(424.77)
(2,634.16)
(2,088.59)
6,025.06
3,936.46
(22, 149.82)
(543.25)
(52.77)
(54. 59)
25.39
33.20
598.28
(29,340.81)
5,430.96
12,904.67
1,179.70
34,605.93
140.33
(59.36)
(143.97/
2,573.88Statement of Changes in Equity
LIFE INSURANCE
Attributable to equity holders of the Company
Share
I•ioney ceded to
Capital Reserve Revenue Reserve
Capital Reserve unappropriate total
waqf fund
revaluation of available-for-sale investments
Retained earnings arising from business other than participating business attributable to shareholders (Ledger
Translation reserve
1,003.53 | 050 | 77.45 | Account D} - net of tax" 4,608.83 | 65.73 | 9,597.02 | 15,353.06 |
614.18 | 2,669.22 | 3,285.52 | ||||
1,304.59 | - 1,304.59 | |||||
1,085.^3 | 1,085.43 | |||||
1,003.53 | 0.50 | 691.63 | 9,876.22 | 17,333.99 | ||
232.25 | 0.03 | 2,571.62 | 2,803.84 | |||
1,304.59 | - 1,304.59 | |||||
1,389.68 | 1,389.68 | |||||
1,003.53 | 0.50 | 923.88 | 7,083.94 | 67.82 | 9,T53.5T | i8,8J3.Z3 |
investment in associate - net of
ealance as at January 01, 2024 (Au lited) Total comprehensive income foi' the year
2,573.88 | 2,573.88 | |||||
614.18 | 95.34 | 711.64 |
Profit for the year after tax
Other comprehensive income - net of tax
Transactions with the owners recorded directly in equity
1,003.53 | - | 1,003.53 | |||||
301.06 | 301.06 |
Final cash dividend for the year en‹Ied
December 31, 2023 @ 100% (Rs. 10.00 per share) interim cash dividend for the half y *ar
ended June 30, 2024 @ 30% (Rs. 3.00 per share)
Other transfer within equity
Surplus for the year retained in sta-utory funds Balance as at December 31, 20.t4
Total comprehensive income foi' the year
0.03 | 2,495.50 | 2,495.TO | ||||
232.25 | 76.12 | 308.34 |
Profit for the year after tax
Other comprehensive income - net af tax
1,003.53 | - | 1,003.53 | |||||
301.06 | 301.06 |
Transactions with the owners r‹•corded directly in equity Final cash dividend for the year ended December 3t, 2024 @ 100% (Rs. 10.00 per share)
Interim cash dividend for the half y'*ar ended June 30, 2025 @ 30% (Rs. 3.00 per share)
Other transfer within equity
Surplus for the year retained in statutory funds
Balance as at December 31, 20:'5
" This includes balances maintainei1 in accordance with the requirements of Section 35 of the Insurance Ordinance, 2000 read with Rule 14 of the Insurance Rules, 2017 to meet solvency margins, which are mandatorily maintained for carrying on of the life insurance business. This also includes retained earnings of Operator-Sub-Funds (OSF] amounting to Rs. 660.94 million (2024: Rs. 508.48 million).
J‹b›I»
LIFE INSURANCE
The Annual General Meeting of the Company will be held on march 30, 2026 at 11: 00 a.m. at Auditorium, Habib Bank Limited (HBL) Tower, Jinnah Avenue, Islamabad physically and through video-link.
The recommended entitlement will be paid to the shareholders whose names will appear in the Register of Members on Narch 17, 2026.
Book Closure for attending AGPI:The share transfer books of the Company will remain closed from march 18, 2026 to March 30, 2026 (both days inclusive). Transfers received at the Share Registrar Office, M/s CDC Share Registrar Services Limited, CDC House, 99-B, Block - B, S.M.C. H.S., Main Shahra-e-Faisal, Karachi - 74400, at the close of business on March 17, 2026 will be treated in time for the purpose of above entitlement to the transferees.
The Annual Financial Statements (Annual Report) of the Company shall be transmitted through PUCARS at
least 21 days before holding of Annual General Meeting.
Thanking you, Yours truly
FOR JUBILEE LEFE INSURANCE COMPANY LIMITEDNA3A I UL H SSA 3AN3
COMPANY SECRETARYcc Exec«tive Director/HOD, Offsite-II Department, Supervision Division,
Securities & Exchange Commission of Pakistan, 63, NIC Building, Jinnah Avenue,
Blue Area, Islamabad.