Efu General Insurance Limited Reports Earnings Results for the Third Quarter Ended September 30, 2019
October 30, 2019 at 07:14 am
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EFU General Insurance Limited announced earnings results for the third quarter ended September 30, 2019. For the third quarter, the company announced operating income was PKR 831.989 million compared to PKR 1,311.039 million a year ago. Net income was PKR 516.687 million compared to PKR 726.652 million a year ago. Basic earnings per share was PKR 2.58 compared to PKR 3.63 a year ago. For the nine months, operating income was PKR 2,201.623 million compared to PKR 2,732.223 million a year ago. Net income was PKR 911.567 million compared to PKR 2,020.590 million a year ago. Basic earnings per share was PKR 4.56 compared to PKR 10.1 a year ago.
EFU General Insurance Limited is engaged in the non-life insurance business. Its segments include Fire and property damage; Marine, aviation and transport; Motor, and Miscellaneous. It provides a range of insurance services to fulfill the needs of all its customers, being commercial and individual clients. Its fire and property damage portfolio consists of a range of business ranging from residential property to industrial risks. Fire and property damage insurance contracts mainly compensate the customers for damage suffered to their property. Marine, aviation and transport insurance provide coverage against loss and damage to goods in transit by any means of conveyance, physical loss or damage to aircraft, ships, and liabilities to third parties and passengers. Motor insurance covers physical loss or damage to the vehicle and liabilities to third parties. Miscellaneous insurance covers cash in hand, cash in transit, personal accident, infidelity, crop, livestock, travel, and others.