Adamjee Insurance : Financial Results for the Year Ended 31 December 2022
March 21, 2023 at 06:31 am
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Adamjee Insurance Company Limited Unconsolidated Statement of Profit or Loss Account For the Year Ended December 31, 2022
Net insurance premium
Net insurance claims
Net commission and other acquisition costs
Insurance claims and acquisition expenses
Management expenses
Underwriting results
Investment income
Rental income
Other income
Fair value adjustment to investment property
Other expenses
Workers' Welfare Fund charge
Results of operating activities
Finance cost
Profit from Window Takaful Operations - Operator's fund
Profit before taxation
Income tax expense
Profit for the year
Earnings per share - basic and diluted
December 31,
December 31,
2022
2021
-------- (Rupees in thousand) --------
16,980,105
12,552,477
(11,284,674)
(7,203,883)
(2,072,014)
(1,522,908)
(13,356,688)
(8,726,791)
(3,832,873)
(3,153,423)
(209,456)
672,263
2,127,600
2,469,444
162,205
131,413
222,868
140,789
794,372
961,132
(105,553)
(58,840)
(148,021)
-
2,844,015
4,316,201
(35,384)
(50,107)
338,577
139,267
3,147,208
4,405,361
(562,195)
(1,268,867)
2,585,013
3,136,494
-------------(Rupees)------------
7.39
8.96
Adamjee Insurance Company Limited
Consolidated Statement of Profit or Loss Account
For the Year Ended December 31, 2022
December 31,
December 31,
2022
2021
-------- (Rupees in thousand) --------
Net insurance premium
Net insurance claims
Net commission and other acquisition costs
Insurance claims and acquisition expenses
Management expenses
Net change in insurance liabilities (other than outstanding claims)
Underwriting results
Investment income
Net fair value loss on financial assets at fair value through profit or loss
Rental income Other income
Fair value adjustment to investment property Other expenses
Workers' welfare fund charge
Results of operating activities
Finance cost
Profit from Window Takaful Operations - Operator's Fund (Parent Company)
Profit before taxation
Income tax expense
Profit for the year
Profit attributable to:
Equity holders of the Parent
Non-controlling interest
37,266,033
(25,519,110)
(4,913,550)
(30,432,660)
(4,961,353)
(4,937,305)
(3,065,285)
7,419,976
(2,682,111)
104,855
944,541
497,698
(110,885)
(148,021)
2,960,768
(38,187)
338,577
3,261,158
(874,803)
2,386,355
2,341,165
45,190
2,386,355
32,651,255
(16,309,641)
(4,661,204)
(20,970,845)
(4,344,697)
(9,490,171)
(2,154,458)
5,995,959
(869,463)
83,620
523,130
674,140
(68,447)
-
4,184,481
(53,887)
139,267
4,269,861
(1,326,268)
2,943,593
2,943,593
-
2,943,593
Earnings per share - basic and diluted
-------------(Rupees)------------
6.698.41
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Adamjee Insurance Company Limited published this content on 21 March 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 21 March 2023 10:30:02 UTC.
Adamjee Insurance Company Limited is a general insurance company. The Company operates through five segments: Fire and property damage, Marine, aviation and transport, Motor, Health and Miscellaneous. Its marine products and services include marine hull and machinery, marine cargo marine umbrella liability and aviation. The motor services include comprehensive car, commercial vehicle, motorcycle comprehensive and motor third party liability. The miscellaneous services include bankersâ policy, burglary, cash in safe, cash in transit, cellular mobile phone, contractual liability, credit card travel inconvenience policy, crop, personal accident, plastic card, product liability policy and others. The fire and property services provide property all risk, comprehensive machinery, consequential loss of profit, energy, ginning stock policy, home, fire policy and shop ownerâs comprehensive policy. It also operates branches in the United Arab Emirates (UAE) and the Export Processing Zone (EPZ).
ADAMJEE INSURANCE COMPANY LIMITED 
