Century Insurance : TRANSMISSION OF HALF YEARLY FINANCIAL STATMENTS FOR THE PERIOD ENDED 30 JUNE 2023
August 29, 2023 at 11:54 pm
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Century Insurance Company Limited
Half Yearly Report June 2023
(Un-audited)
Century Insurance at a Glance
Century Insurance is a Lakson Group Company.
Operating since 1989, dealing in all areas of general insurance and takaful business.
One of the premier general insurance companies of Pakistan.
Rated "AA" with a stable outlook by VIS Credit Rating Co. Limited, signifying a 'very strong capacity to meet policyholders' and contractual obligations.
Total equity in excess of Rs. 2.4 billion.
Twice awarded 'Top 25 Companies Award' by the Karachi Stock Exchange.
Very strong reinsurance treaty arrangements with highly rated international reinsurers.
Broad client base consisting of individuals as well as some of the most prestigious local and multinational companies.
Table of Contents
Financial Statement
Conventional Operations
Vision and Mission
2
Corporate Information
3
Directors' Review
4
Directors' Review (Urdu)
7
Report on review of Condensed Interim Financial Statements
8
Condensed Interim Statement of Financial Position
10
Condensed Interim Profit and Loss Account (Un-audited)
12
Condensed Interim Statement of Comprehensive Income
13
Condensed Interim Statement of Cash Flows
14
Condensed Interim Statement of Changes in Equity
16
Notes to and Forming Part of the Condensed Interim Financial Statements
17
Financial Statement
Window Takaful Operations
Report on review of Condensed Interim Financial Statements
38
Condensed Interim Statement of Financial Position
40
Condensed Interim Profit and Loss Account (Un-audited)
42
Condensed Interim Statement of Comprehensive Income
43
Condensed Interim Statement of Cash Flows
44
Condensed Interim Statement of Changes in Fund
45
Notes to and Forming Part of the Condensed Interim Financial Statements
47
2 Half Year Report June 2023
Corporate information
Board of Directors
Share Registrar
Mr. Iqbal Ali Lakhani - Chairman
M/s. FAMCO Associates (Pvt) Ltd.
Mr. Amin Mohammed Lakhani
8-F, Near Hotel Faran, Nursery,
Ms. Anushka Lakhani
Block-6, P.E.C.H.S., Shahra-e-Faisal,
Mr. Aftab Ahmad
Karachi.
Mr. Jawed Akhlaq
Tel: (021) 34380101-2
Mr. Atiq Anwar Mahmudi
Fax: (021) 34380106
Mr. Mohammad Hussain Hirji - Chief Executive
Email: info.shares@famco.com.pk
Website: www.famco.com.pk
Advisor
Mr. Sultan Ali Lakhani
Bankers
Al Baraka Bank (Pakistan) Limited
Chief Financial Officer
Askari Bank Limited
Mr. Sabza Ali Pirani
Bank Alfalah Limited
Bank Islami Pakistan Limited
Company Secretary
Dubai Islamic Bank Pakistan Limited
Mr. Mansoor Ahmed
Habib Bank Limited
Habib Metropolitan Bank Limited
Audit Committee
JS Bank Limited
Mr. Atiq Anwar Mahumdi - Chairman
MCB Islamic Bank Limited
Mr. Amin Mohammed Lakhani
Meezan Bank Limited
Mr. Aftab Ahmad
NRSP Microfinance Bank Limited
Silkbank Limited
Investment Committee
Soneri Bank Limited
Mr. Iqbal Ali Lakhani - Chairman
Standard Chartered Bank (Pakistan) Limited
Mr. Aftab Ahmad
Telenor Microfinance Bank Limited
Mr. Mohammad Hussain Hirji
U Microfinance Bank Limited
Mr. Sabza Ali Pirani
United Bank Limited
Ethics, Human Resource &
Registered & Corporate Office
Remuneration Committee
Lakson Square, Building No. 2,
Mr. Jawed Akhlaq - Chairman
Sarwar Shaheed Road, Karachi-74200.
Mr. Amin Mohammed Lakhani
Mr. Mohammad Hussain Hirji
Head Office
11th Floor, Lakson Square, Building No. 3,
External Auditors
Sarwar Shaheed Road, Karachi-74200.
M/s. BDO Ebrahim & Co
Chartered Accountants
Website: www.cicl.com.pk
UAN: 111-111-717
NTN: 0710008-6
Century Insurance Company Limited
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Century Insurance Company Ltd. published this content on 30 August 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 August 2023 03:53:06 UTC.
Century Insurance Company Limited is a Pakistan-based company that is engaged in general insurance business. The Company's segments include fire and property damage; marine, aviation and transport; motor; accident and health, and miscellaneous. The perils covered under its fire insurance products include damages caused by fire, riot and strike, explosion, earthquake, atmospheric damage, flood, electric fluctuation and terrorism. The Company's marine insurance products provide coverage against cargo risk, war risk and damages occurring in inland transit. The Company's motor insurance products provide comprehensive car coverage and indemnity against third party loss. Its accident and health insurance products provide cover to compensate personal accident, hospitalization and outpatient medical coverage to the insured. Its miscellaneous insurance products provide cover against burglary, loss of cash in safe and cash in transit, travel, money, engineering losses and other covers.