PAKISTAN
R/UIC/4885/2026
March 12, 2026
The General Manager Pakistan Stock Exchange Ltd. Pakistan Exchange Building Stock Exchange Road KARACHI.
Dear Sir,
UNITED INSURANCE
Company ofPakistan Limited
A Member Company of United International Group
FINANCIAL RESULTS FOR THE YEAR ENDED DECEMBER 31, 2025
We have to inform you that the Board of Directors of our Company in their meeting held on Thursday, March 12, 2026 at 11:00 a.m at the Head Office of the Company, situated at UIG House, 01-Upper Mall, Lahore has recommended the following:-
CASH DIVIDEND NIL
BONUS SHARES
It is recommended by the Board to capitalize the sum of Rs. 832,200,000/- for issue of Bonus Shares& 20% in proportion of 20 shares for every 100 shares. Auditor's Certificate u/s 6(iii) of the Companies (Issued of Capital) Rules, 1996 is enclosed.
RIGHT SHARES NILANY OTHER ENTITLEMENT/CORPORATE ACTION
NIL
ANY OTHEn rnICE SENSITIVE INFORMATION
It is to inform you that the Board of Directors of the United Insurance Company of Pakistan Limitetl in their meeting held on Thursday, March 12, 2026 at 11:00 a.m has decided to increase the Authorized Share Capital of the Company from Rs. S Billion to Rs. 6 Billion subject to obtaining requisite Sharehol:hers approval in the forthcoming Annual General Meeting.
REGISTERED OFFICE
Suite # 204, 2nd Floor, Madina City Mall, Abdullah Haroon Road, Saddar, Karachi - 74400.
Tel. : (+92 21 ) 35621460 - 61
(+92 21) 35221803
Web : www.theunitedinsurance.com Emoii : info@theunitedinsurance.com
PAKISTAN
Rated AA+ by PACRA Rated AA+ by VIS
UNITED INSURANCE
Company ofPakistan Limited
A Member Company of United International Group
The Financial results of the Company for the year ended December 31, 2025 are attached as Annexure "A".
The 66th Annual General Meeting of the Company will be held on Saturday, April 25, 2026 at 10:00 a.m at 3rd floor, PSX Auditorium, Pakistan Stock Exchange Limited, Karachi
The Share Transfer Books of the Company will remain closed from 18-04-2026 to 25-04-2026 (both days inclusive). Transfer received in order at the office of our Shares Registrar M/s F.D Registrar Services (Pvt.) Limited, at the closed of business (5:00 p.m) on Friday April 17, 2026 will be treated in time for the purpose of any entitlement and to attend, participate and vote at the meeting.
The Annual Financial Statements (Annual Report) of the Company shall be transmitted through Pucars at least 21 days before holding of the AGM.
Yours Sincerely,
Syed Muhamm Tariq Nabeel Jafri Company Secreta
Copy to : The Director / HOD
Surveillance, Supervision & Enforcement Department,
Securities and Exchange Commission of Pakistan
63, NIC Building
Jinnah Avenue, Blue Area
Islamabad
REGISTERED OFFICE
Suite # 204, 2nd Floor, Modina City Mall.
AbdUllah Haroon Road, Saddar, Karachi - 74400.
Tel. : (+92 21 ) 35621460 - 61
(+92 21 ) 35221803
Web ww.theunitedinsurance.com Emoii : info@theunitedinsurance.com
THE UNITED INSURANCE COMPANY OF PAKISTAN LIMITED PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED DECEMBER 31, 2025
Note | 2025 Rupees | 2024 Rupees | ||
Net insurance premium | 21 | 5,4 18,890,695 | 5,135,303,900 | |
Net insurance claims | 22 | (1,190,489,543) | (1,347,619,362) | |
(Provision) / reversal of premium deficiency reserve | 16,933,141 | |||
Net commission and other acquisition costs | 23 | (138,451,636) | (128,315,452) | |
Insumnce claims and acquisition expenses | (1,328,941,179) | (1,459,001,673) | ||
Management expenses | 24 | (1,600,841,042) | (1,542,349,080) | |
Underwriting results | 2,489,108,474 | 2,l33,953,t47 | ||
Investment (loss)/income | 25 | (250,644,570) | 474,l2l,225 | |
Rental income | 2,768,244 | 2,516,580 | ||
Other income | 26 | 111,608,202 | 135,499,313 | |
Other expenses | 27 | (11,335,401) | (11,640,707) | |
Results of operating activities | 2,341,504,949 | 2,734,449,558 | ||
Finance cost | 28 | (69,298,436) | (15,546,616) | |
Profit of Window Takaful Operations - Operator's Fund | 36,358,513 | 73,603,557 | ||
Profit before tax | 2,308,565,026 | 2,792,506,499 | ||
Income tax expense | 29 | (802,34J,264) | (765,561,624) | |
Profit for the year | 1,506,219,762 | 2,026,944,875 | ||
2025 | 2024 | |||
Earnings per share , | Jtestated | |||
- basic and diluted | 4,87 |
The annexed notes form an integral part of these financial statements.
Chief Executive Officer Director Chief financial Officer Director Chairman
THE U^tITED INSURANCE COMPANY OF PAKISTAN LIMITED STATEMENT OF FINANCIAL POSITION
AS AT DECEMBER 31. 2025
Note
2025
Rupees
2024
Rupees
2013
Rupees
Restaled•
Property and equipment
lvcsaocot propmy Investments in associate Investments
Equity securities Debt securities Term deposits
Loans and other receivables Insurance / reinsurance receivables Prepaid reinsurance premium ceded
Reinaumnee recoveries against outstanding claims Deferredcommimion expense
Cash and bank balances
Total assets of Operator's Fund
Total aesee ofParticipants' Takaful Fund Total.Axseti
Equlty and Llsbllltles
Capital and reserves attributable to the Company's equity holders Ordinary share capital
Capital reserve
Fair value reserve Revenue reserves
General rmcrve
Unappropriatcd profit
Total Equity
Surplus on evaluation ofproperty and equipment
Underwriting provisions
Outstanding claims including fBHR Unmarried premium reserve Prcrhium deficiency reserve Unmarked reinsurance commission
Deferred taxation Lease liabilities
Insurance f minsurance payables - due to insurers/re-instincts Other crcditon and accruals
Taxation - provision less payment Totai•Llabllltles
Toial liabilities of Operators Fund
Total funds and liabilities ofParticipants' Takaful Fund Total Nutty end Ltabllitlei
5 2,39i,0g7,790 2,152,859,824 1,794,851,312
6 73,846,168 60,362,663 37,487,035
7 533,088,689 487,242,289 332,348,383
8 I
9 4,301,349 47,533,944 40,860,433
10 756,111,226 764,8lb,220 1,104,457,334
11 1,187,230,578 759,724,099 268,778,499
12 2,535,188,146 2,352,992,076 1,789,254,086
13 4,196,707,011 3,167.118,509 1,674.167,635
21 2,600.633,734 2,201,927,799 2,376,365,105
22 3,584,731,174 2,054,J43,854 2,812,158,108
23 364,282.890 518,677,288 401,475,076
14 827,414,315 812,964,757 588,922,230
19,O60,623;070 15,380,763,322 13,221,125,236
594,700,41 I 672,721,167 641,603,630
4 2,219,570,985 2,384,242,226 2,474,272,686
2l,874,894;466 18,437,726,715 16,337,001,552
15 4,161,000,000 3,467,500,000 3,467,J00,000
(8,269,695) (9,770,564) (28,866,555)
781,748,844
480,504,892
75,115,917
2,056,995,642 1,497,796,503 858,062,831
2,838,744,486 1,978,301,395 933,178,748 6,99l,474;791 5,436,030,831 4,371,812,193
16 984,842,614 585,274,592 658,0t9,836
4,834,664,267 | Z,987,894,705 | 3,558,495,634 |
2,006,367,008 | 3,051,984,016 | 2,254,388;692 |
16,933,141 | ||
251,170,856 | 303,934,298 | 358,261,810 |
3J3,027,514 | 229,372,900 | 193,163,242 |
163,328,192 | 183,84J,795 | 48,826,698 |
1,174,484;927 | l,009,858,989 | 781,626,478 |
1,483,222,554 | 830,912,661 | 717,778,408 |
1,063,491,479 | 987,756,537 | 339,468,248 |
22
21
23
17
18
19
11,331,756,797 9,585,558,901 8,468,942,351
347,249,279 446,620,165 363,954,486
4 2,219,570,S8J 2,384,242,226 2,474,272,686
21,874,894,466 18,437,726,71J 16,337,001,552
COtTlffli fit8 20
The annexed notes fomi an integral part of these financial statements.
(Refer Note 4 for restatement)
Chief Executive Officer
Clilef Flnanclal Omcer ChairmanTRE UNITED INSURANCE COMPANY OF PAKISTAN LIMITED STATEMENT OF COMPREHENSIYE INCOME
FOR THE YEAR ENDED DECEMBER 31, 2025
2025 | 2024 " | |
Rupees | Rupee | |
Profit for the year oa«r comprehensive income for the year | 1,506,219,762 | 2,026,944,875 |
hems la be re-nlazsified t^P^%!i and lass account itssubsequen‹Pe^' "
Unrealized gain on revaluation of
available-for-sale investments-net of deferred tax
Reclassification adjustments relating to availablc-for-sale investments disposed offduring the year-net of deferred tax
Share of other comprehensive (loss}/income of Window Takaful Operations:
Unrealized (loss)/gain on revaluation of
available-for-sale invesonents-net of deferred tax
Total comprehensive income for the year
The annexed notes form an integral part of these fuiancial statements.
2,400 | 1,881,937 |
1,999,271 | l3,tXi2,073 |
(500,802) | 4,211,981 |
1,500,869 19,095,991
l,507,720,63t 2,046,040,866
Chief Executive Officer Director Cbtef Fiaandal Officer Director Cbairzaaa
THE UNITED INSURANCE COMi•Ah Y Or PAKtSTAN LIM IJ'ED
STATF.MENT OP CHANGES IN k@IJITY FOk THE Y&AR Ef'fDED DECERBAR 3I, 2025
Total
Rupees
(J4G,750,000)
t34G.750,00¥)
(34G,75t,N0)
Teial cempreiienslvc Inconn fer the year
Traasacclea wIus «• •
Flaal Stock dlvtdeods reladcg to 2024 at Rc2 per chare
'T'raasI'erred froa surplus on revatuatloa
eFproperty and cqalpaignt (refer I'¥ote 19)
Traveler to geoera reserve Balance as at December 31, 3025
S 4277t2 S#,427,7J7 S#,42777I
2,0I6Wd447fi 2,026#4#S7S l0*69W4,E7S
2,02G,$44,St5 2,026,Pdd,S75 2,0d6.0d0,S¥6
J,467J0O0O0 ñ#,77t5d4) 40A5OAOQt t4#7T9GJO3 D,J7*$OL]¥S 5406,O3t#UI
dK7ZA]T9 @7,Tt3J]9 dL723Q29
IW,2I9,7G2 | l406,219,762 | tWMtt,7€2 |
30t443,992 {301$43$52)
clef Exec•lire OfRcer
THE UNITED INSURANCE COMPANY OF PAKISTAN LIMITED CASH FLOW STATEMENT
FOR THE YEAR ENDED DEC£iMBER 31, 2025
OPERATING CASH FLOWS | 'Note | 2025 Ruptts | 2024 Rupees | |
a) Underwriting activities | ||||
Insurance premium received | 7,329,548,226 | 9,122,355,475 | ||
Reinsurance premium paid | (4,219,943,038) | (4,279,737,308) | ||
Claims paid | 22 | (3,596,625,156) | (4,346,049,449) | |
Reinsurance and other recoveries received | 22 | 2,722,717,855 | 3,185,443,412 | |
Commission paid | (768,480,760) | (1,032,233,425) | ||
Commission received | 23 | 651,773,729 | 735,102,040 | |
Management expenses paid | (1,380,910,975) | (1,241,909,471) | ||
Net cash flow from underwriting activities | 738,079,881 | 2,142,971,274 | ||
b) Other operating actlvit1es | ||||
Income tax paid | (737,489,267) | (300,849,643) | ||
General expenses paid | (11,335,401) | (I 1,015,567) | ||
Other operating receipts/ (payments) | 276,016,761 | (84,685,686) | ||
Loans advanced | (21,264,726) | (30,645,877) | ||
Loan received back | 22,612,045 | 20,237,939 | ||
Net cash flow from other operating activities | (471,460,588) | (406,958,834) | ||
Total cash flow from all operating activities | 266,619,293 | 1,736,012,440 | ||
c) Investment activities: | ||||
Profit/ rerura received | 142.944,953 | 87,029,762 | ||
Dividend received | 25 | 2,393,000 | 1,785,250 | |
Rental received | 2,768,244 | 2,516,580 | ||
Payment for investment/ investment properties | (3,497,712,849) | (1,456,534,650) | ||
Proceeds from invistment/ investment properties | 3,082,706,816 | 1,179,156,385 | ||
Fixed capital expenditure | (69,267,591) | (459,205,407) | ||
Proceeds from disposal ofproperty and equipment | 81,634,096 | 81,680,480 | ||
Cash flow of Window Takaful Operations | 135,000,000 | 130,000,000 | ||
rotal cash flow from investing activities | (119,533,331) | (433,571,600) | ||
d) Finawing activities:
Interest paid , | 28 | (69,298,436) | (15,546,616) | |
Dividends paid | (20,385) | (1,014,782,553) | ||
Lease liability paid | (63,317,583) | (48,069,144) | ||
Total cash flow from financing activities | (132,636,404) | (1,078,398,313) | ||
Net caih flow from all activities (a+b+c+d) | 14,449,558 | 224,042,527 | ||
Cash and cash equivalents at the beginning of the year | 812,964,757 | 588,922,230 | ||
Cash and cash equivalents at the end of the year | 14 | 827,414,315 | 812,964,757 |
The aJexed notes form an integral part of these financial statements.
Chief Executive Of'ficcr Director Chief Financial Officer Director Chairman
THE UNITED INSURANCE COMPANY OF PAKISTAN LIMITED CASH FLOW STATEiYiENT
FOR THE YEAR ENDED DECEMBER 31, 2025
2025 | 2024 | ||
Note | Rupees | Rupees | |
Reconciliation to Profit and Loss Account | |||
Total cash flow front all operating activities | 266,619,293 | 1,736,012,440 | |
Depreciation & amortization expense | 5 & 6 | (285,283,941) | (235,085,735) |
Finance cost | 28 | (69,298,436) | (15,546,616) |
Gain on disposal of property and equipment | 26 | 56,514,291 | 54,711,469 |
Rental income | 2,768,244 | 2,516,580 | |
Dividend income | 25 | 2,393,000 | 1,785,250 |
Increase in assets other than cash | 3,392,246,253 | 856,533,303 | |
(Increase) in liabilities other than borrowings | (1,643,059,885) | (919,921,348) | |
Investment (toss)/income | 25 | (253,037,570) | 472,335,975 |
Profit of Window Takaful Operations - Operators' fund | 36,358,513 | 73,603,557 |
Profit for the year
The annexed notes form an integral part of these financial statements.
1,506,219,762 2,026,944,875
Chief Executive Officer Director Chief Financial Officer Director Chairman
Ref: AA/M-102/26
March 04, 2026
The Company Secretary,
The United Insurance Company of Pakistan Limited UIG House, 01, Upper Mall,
Lahore.
Dear Sir,
RSM Avais Hyder Liaquat Nauman
Chartered Accountants
Avais Chambers, 1/ C- S Sikander Malhi Road, Canal Park Gulberg II, Lahore, Pakistan
T: a-92 (42) 321 13344
Iahore@rsmpakIstan.pk https://www.rsm.global/pakistan
CERTIFICATE ON ISSUE OF BONUS SHARES
AS REQUIRED UNDER RULE 6 (III) OF THE COMPANIES (ISSUE OF CAPITAL) RULES, 1996
We have been requested to provide you with a certificate on the issue of bonus shares by The United Insurance Company of Pakistan Limited (the Company) as required under Rule 6 (iii) of the Companies (Issue of Capital) Rules, 1996.
Scope of Certificate
The management of the Company intends to issue bonus shares to its shareholders for the financial year ended December 31, 202S. The requirements for Issue of bonus shares are provided under Rule 6 of the Companies (Issue of Capital) Rules, 1996. These rules require the Company to comply with the prescribed conditions and obtain a certificate from the auditor certifying that the free reserves retained after the issue of bonus shares calculated under Rule 6(III) are not less than fifteen percent of the increased paid up capital of the Company.
Management Responsibility
It is responsibility of the management to ensure compliance with the conditions prescribed under Rule 6 of the Companies (Issue of Capital) Rules, 1996, for issue of bonus shares.
Auditor's Responsibility
Our responsibility is to certify the compliance of the requirements prescribed undér Rule 6(iii) of the Companies (Issue of Capital) Rules, 1996 in respect of retention of free reserves aker Issuance of bonus shares, in accordance with the *Guidelines for Issue of Certificates for Special Purposes by Practicing Chartered Accountant Firms' issued by the Institute of Chartered Accountants of Pakistan. Our verification was limited to the following procedures:
"a] Calculated free reserves as per the crlteria stipulated under Rule 6 (iii) of the Companies (issue
of Capital) Rules, 1996;
THE POWER OF BEING UNDERSTOOD
ASSURANCE I TAX I CONSULTING
of the RSM weI work, Each member of the RAM net W0rk Is M kgiepeiJdeot accounN/g and consorting fi•nt each ol which praCtICeS In its OWN right
Calculated the bonus shares proposed to be issued by the Company;
Calculated free reserves after proposed bonus issue;
Calculated the 15'» of increased paid capital and compared the free reserves after Issuance of bonus shares with this value to check compliance with the requirements of retainlng 15% of increased capital as free reserves.
Certificate
Based on procedures performed as mentioned above, we certify that the free reserves retained aker the proposed issue of bonus shares will not be less than 15% of the increased paid up capital of the Company as per the initialed financial statements of the Company for the year ended December 31, 2025, as detailed in the attached calculation.
Restriction on use and distribution
This certificate Is issued under Rule 6 (iii) of the Companies (Issue of Capital) Rules, 1996 for submission to the Securities and Exchange Commission of Pakistan and Pakistan Stock Exchange, and is not be used or distributed for any other purpose. This certificate is restricted to the facts stated herein and the attachment.
RSMAVASHYD AQUATN CHARTEREDA NTANTS
Yours truly,
Calculation of free reserves after proposed issuance of bonus shares | |
As at December 31, 2025 | |
As per Initialed Financial Statements | |
A) Calculation of free reserves afier proposed issuance of bonus shares | |
RUPEES | |
Unappropriated profit | 2,056,995,642 |
General reserve | 781,748,844 |
Less: | |
Commitments - Conventional | (47,639,330) |
- WTO | (31,460,990) |
Intangibles - Conventional | (73,846,168) |
(152,946,488) | |
Free reserve before issue of bonus share | 2,685,797,998 |
Proposed bonus issue at 20% of existing paid up capital (See bolow) | (83Z,200,000) |
Free reserve after proposed issue of bonus share | 1,853,597,998 |
15% of Increased capital after propsoed bonus shares (See below) | 748,980,000 |
Balance reserve | 1,104,617,998 |
B) Calculation of proposed bonus Issue, Increased capital and 15% of increased capital | |
Issued, subscribed and paid up capital as at December 31, 2025 | 4,161,000,000 |
Proposed bonus issue at the rate of 20% of exlsting capital | 832,200,000 |
Increased capital after proposed bonus issue | 4,993,200,000 |
15% of Increased capital | 748,980,000 |