Premier Insurance Co. Of Pakistan Ltd.PSX: PINL

Financial Results for the Quarter Ended June 30, 2025

Aug 26, 2025 at 8:14 AM UTC · Issued by Premier Insurance Co. Of Pakistan Ltd.

A gust26,2025

The General Manager

Pakistan Stock Exchange Limited Stock Exclian ge Bu ilding

Stock Exchange Road

Karachi-74000

DearSir,

Premier lnsu.dance

FORM-3

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

We have to inform you that the Board of Directors of our company in their meeting held on 26.08.2025 at 11:30 a.m. at Karachi recommended the following:

CASH DIVIDEND
BONUS SHARES
RIGHT SHARES

NIL

The required statements of Finarlcial Position, Profit and Loss, Comprehensive Income, Changes in Equity and Cash fiows are attached.

The Quarterly Report of the Company for the period ended June 30, 2025, will be transmitted through PUCARS separately, within the specified time.

Th king You,

qggp

* "*

Far q Mme oodKh Co any Secretary

c.c Executive Director / HOD, Offsite-II Department, Supervision Div ision

Securities & Exchange Commission of Pakistan, 63, N IC Building, Jinnah Avenue,

Blue Area, Islamabad.

Premier insurance Limited

PREMIER INSURANCE LIMITED

CONDENSED INTERIM STATEMENT OF FINANCIAL POSITION

AS AT JUNE 30, 2025

June 30,

December 31,

January 01,

2025

2024

(Unaudited)

(Audited)

Restated

Note

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

ASSETS

Property and equipment

206,317

206,511

196,594

Intangible assets

324

380

543

Investment properties

347,284

346,939

346,758

Investments

- Equity securities

923,188

878,300

618,023

- Mutual funds

63,668

62,444

83,542

Investment in associate

278,579

312,221

259,222

Loans and other receivables

62,895

80,650

24,852

Insurance / reinsurance receivables

343,054

470,602

477,430

Reinsurance recoveries against outstanding claims

204,265

207,465

276,075

Salvage recoveries accrued

5,821

4,075

1,397

Deferred commission expense

15,575

18,707

21,517

Taxation - provision less payment

28,136

23,972

19,478

Deferred tax asset

52,406

51,803

50,746

Prepayments

52,498

120,027

81,282

Cash and bank

12,447

54,457

39,063

2,596,457

2,838,553

2,496,522

Total Assets of Window Takaful Operations - Operator's Fund

16.1

190,542

167,117

119,339

Total Assets of Window Takaful Operations - Participants' Takaful Fund

16.2

357,907

306,258

234,517

TOTAL ASSETS

3,144,906

3,311,928

2,850,378

Capital and reserves attributable to Company's equity holders

EQUITY AND LIABILITIES

Ordinary share capital

505,650

Reserves

1,523,515

1,633,291

1,450,085

Accumulated losses

(913,483)

(939,890)

(1,008,339)

TOTAL EQUITY

1,115,682

1,199,051

947,396

LIABILITIES

Underwriting provisions

Outstanding claims including IBNR

509,916

490,710

607,489

Unearned premium reserves

167,542

284,803

273,246

Unearned reinsurance commission

11,753

26,133

12,738

Retirement benefit obligations

5,807

5,975

6,935

Lease liabilities

10,506

11,696

3,954

Insurance / reinsurance payables

579,533

667,742

469,773

Other creditors and accruals

286,230

233,908

225,724

Unclaimed dividends

22,423

22,443

TOTAL LIABILITIES

1,593,710

1,743,390

1,622,302

Total Liabilities of Window Takaful Operations - Operator's Fund

16.1

77,607

63,229

46,163

Total funds and liabilities of Window Takaful Operations - Participants' Takaful Fund

16.2

357,907

306,258

234,517

TOTAL EQUITY AND LIABILITIES

3,144,906

3,311,928

2,850,378

CONTINGENCIES AND COMMITMENTS

The annexed notes from 1 to 35 form an integral part of these condensed interim financial statements.

Director

Chief Executive Officer

Director

Chairman

Chief Financial Officer

PREMIER INSURANCE LIMITED

CONDENSED INTERIM PROFIT AND LOSS ACCOUNT (UNAUDITED)

FOR THE QUARTER AND HALF YEAR ENDED JUNE 30, 2025

Quarter ended

Half year ended

June 30,

2025

2024

2025

2024

Note

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

Net insurance premium

68,203

73,700

132,315

148,342

Net insurance claims

(46,500)

(42,501)

(81,232)

(73,776)

Net commission income/(expense) and other acquisition costs

7,888

(8,182)

16,268

(16,239)

Insurance claims and acquisition expenses

(38,612)

(50,683)

(64,964)

(90,015)

Management expenses

(52,185)

(58,261)

(84,420)

(87,965)

Underwriting results

(22,594)

(35,244)

(17,069)

(29,638)

Investment income

37,138

23,894

75,768

33,130

Rental income

2,791

1,087

5,521

2,188

Revaluation gain on investment properties

1,193

Other income

4,481

2,653

5,226

3,626

Other expenses

(448)

(1,305)

(1,671)

(1,826)

43,962

27,522

84,844

38,311

Results of operating activities

21,368

(7,722)

67,775

8,673

Finance costs - lease liability

(628)

(197)

(1,289)

(323)

Share of (loss) from associate

(868)

Profit / (loss) before tax from Conventional Insurance Operations

19,872

(7,919)

65,618

8,350

Profit / (loss) before tax from Window Takaful

Operations - Operator's Fund

(15,072)

3,045

(38,095)

(17,790)

Profit / (loss) before levy and taxation

4,800

(4,874)

27,523

(9,440)

Levy

873

(461)

(1,719)

(2,592)

Profit / (loss) before taxation

5,673

(5,335)

25,804

(12,032)

Taxation

127

235

603

476

Profit / (loss) after taxation

5,800

(5,100)

26,407

(11,556)

Earnings / (loss) per share (basic and diluted) - Rupees

0.11

(0.10)

0.52

(0.23)

The annexed notes from 1 to 35 form an integral part of these condensed interim financial statements.

Director

Chief Executive Officer

Director

Chairman

Chief Financial Officer

PREMIER INSURANCE LIMITED

CONDENSED INTERIM STATEMENT OF COMPREHENSIVE INCOME (UNAUDITED)

FOR THE QUARTER AND HALF YEAR ENDED JUNE 30, 2025

Quarter ended

Half year ended

June 30,

2025

2024

2025

2024

Note

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

Profit / (loss) after taxation

4,205

(5,100)

26,407

(11,556)

Other comprehensive (loss) / income:

Items that may be reclassified subsequently

to profit and loss account

Unrealized (loss) / gain on available-for-sale

investments during the period

(17,394)

57,946

(77,002)

71,034

Share of other comprehensive income

from associated company

(32,774)

Other comprehensive (loss) / income

(50,168)

57,946

(109,776)

71,034

Total comprehensive (loss) / income for the period

(45,963)

52,846

(83,369)

59,478

The annexed notes from 1 to 35 form an integral part of these condensed interim financial statements.

Director

Chief Executive Officer

Director

Chairman

Chief Financial Officer

PREMIER INSURANCE LIMITED

CONDENSED INTERIM STATEMENT OF CHANGES IN EQUITY FOR THE QUARTER & HALF YEAR ENDED JUNE 30, 2025

Issued, subscribed and paid-up	Reserves							Total equity
	Capital reserves				Revenue reserves
	Reserve for exceptional losses	Devaluation reserve	Revaluation Reserves -Available for sale investments of the Company and associate	Revaluation Reserves -Property and Equipment	General reserve	Accumulated losses	Total reserves

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

Balance as at January 01, 2024 (Audited) Total comprehensive income / (loss) for the half year ended June 30, 2024	505,650	19,490	185	397,700	35,859	996,851	(1,008,339)	441,746	947,396
Loss after taxation	-	-	-	-	-	-	(11,556)	(11,556)	(11,556)
Other comprehensive income for the period	-	-	-	71,034	-	-	-	71,034	71,034
Total comprehensive income / (loss) for the period	-	-	-	71,034	-	-	(11,556)	59,478	59,478
Balance as at June 30, 2024 (Unaudited)	505,650	19,490	185	468,734	35,859	996,851	(1,019,895)	501,224	1,006,874
Balance as at January 01, 2025 (Audited)	505,650	19,490	185	580,906	35,859	996,851	(939,890)	693,401	1,199,051
Total comprehensive profit for the period ended June 30, 2025
Profit after taxation	-	-	-	-	-	-	26,407	26,407	26,407
Other comprehensive loss for the period	-	-	-	(109,776)	-	-	-	(109,776)	(109,776)
Total comprehensive loss for the period	-	-	-	(109,776)	-	-	26,407	(83,369)	(83,369)
Balance as at June 30, 2025 (Unaudited)	505,650	19,490	185	471,130	35,859	996,851	(913,483)	610,032	1,115,682

The annexed notes from 1 to 35 form an integral part of these condensed interim financial statements.

Director Chief Executive Officer

Director

Chairman

Chief Financial Officer

PREMIER INSURANCE LIMITED
CONDENSED INTERIM CASH FLOW STATEMENT (UNAUDITED)
FOR THE QUARTER & HALF YEAR ENDED JUNE 30, 2025
Half year ended
		June 30,	June 30,
		2025	2024
			Restated
	Note	---------- (Rupees in '000) ----------
CASH FLOWS FROM OPERATING ACTIVITIES
a) Underwriting activities
Insurance premium received		225,978	183,321
Reinsurance premium paid		(143,489)	(76,218)
Claims paid		(100,317)	(135,765)
Reinsurance and other recoveries received		71,982	95,015
Commission paid		(21,578)	(27,397)
Commission received		27,112	6,989
Other acquisition costs paid		(7,405)	(9,811)
Management expenses paid		(114,160)	(103,665)
Net cash used in underwriting activities		(61,877)	(67,531)
b) Other operating activities
Income tax paid		(5,278)	(4,840)
Other operating receipts		31,352	10,949
Loans advances and deposits received /(paid)		18,620	(16,585)
Other liabilities reversed		(59,899)	34,865
Net cash generated (used in)/from other operating activities		(15,205)	24,389
Total cash used in all operating activities		(77,082)	(43,142)
CASH FLOW FROM INVESTING ACTIVITIES
Profit / return received		74,903	19,767
Rental received		5,521	2,188
Payment for investments made		(636,699)	(13,368)
Proceeds from investments sold		598,812	-
Fixed capital expenditure incurred		(4,146)	(382)
Proceeds from sale of property and equipment		3,221	2,596
Net cash flows from investing activities		41,612	10,801
CASH FLOW FROM FINANCING ACTIVITIES
Finance cost paid		(1,289)	(323)
Dividend paid		-	(20)
Payment of lease liability		(5,251)	(2,107)
Total cash used in financing activities		(6,540)	(2,450)
Net cash used in all activities		(42,010)	(34,791)
Cash and cash equivalents at beginning of the period		54,457	39,063
Cash and cash equivalents at end of the period	15	12,447	4,272

PREMIER INSURANCE LIMITED

CONDENSED INTERIM CASH FLOW STATEMENT (UNAUDITED)

FOR THE HALF YEAR ENDED JUNE 30, 2024

Half year ended

June 30,

2025

2024

Note

----------- Rupees in '000 -----------

Reconciliation to condensed interim profit and loss account

Operating cashflows

(77,082)

(43,142)

Depreciation and amortization expense

(4,097)

(2,976)

Finance costs

(1,289)

(323)

Gain on sale of operating fixed assets

2,922

2,484

Net realized gain on investments

45,573

Rental income

5,521

2,188

Dividend income

30,195

33,301

Other income

2,304

1,142

Share of loss from associate

(868)

Loss from Window Takaful Operations - Operator's Fund

(38,095)

(17,790)

Decrease in assets other than cash

(35,518)

(184,366)

(Increase) / decrease in assets-PTF

(51,649)

(32,337)

Increase / (decrease) in liabilities and funds-PTF

51,649

32,337

Increase in liabilities other than borrowings

96,841

196,733

Gain on revaluation of investment property

1,193

Profit / (loss) after taxation

26,407

(11,556)

Definition of cash and cash equivalent

Cash and cash equivalent comprises cash in hand, stamps in hand, current and saving accounts and short-term deposits having maturing 3 months from the date of acquisition.

Cash and cash equivalents for the purpose of the condensed interim statement of cash flows consists of:

Cash and other equivalent

Cash

Stamps in hand

281

Current and other accounts

Current accounts

PLS account

12,348

3,991

12,348

3,991

Total cash and cash equivalent

12,447

4,272

The annexed notes from 1 to 35 form an integral part of these condensed interim financial statements.

Director

Chief Executive Officer

Director Chairman

Chief Financial Officer

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