KARACHI: Jubilee Life Insurance Company Limited announced impressive financial results for the year ended December 31, 2016, recommending a Final cash dividend of 115% (Rs.11.50 per share), and a proposed bonus issue in the proportion of 10 (ten) shares for every 100 shares held, i.e. 10%. This is in addition to interim cash dividend of 30% declared earlier.
The Company reported a pre-tax profit of Rs.3,152 million during the year as compared to Rs.2,442 million in 2015, representing an increase of 29%. The profit after tax was recorded at Rs.2,108 million, as compared to Rs.1,622 million during the year 2015, an increase of 30%. The earnings per share (EPS) increased from Rs.22.48 in 2015 to Rs.29.23 in 2016, an increase of 30%. The results were declared by the Board of Directors who met under the chairmanship of Mr. Kamal A. Chinoy to review the annual performance of the Company.
The year 2016 was also a landmark year for Jubilee Life, which completed twenty years of excellence in operations, besides various awards and accolades received during the year.
Speaking about the financial results, Mr. Javed Ahmed, Managing Director & CEO Jubilee Life said,
“Our results are a testament that Jubilee Life is committed to being the best-value life insurance enterprise not only for its customers and employees but also for shareholders.”
He added that Jubilee Life will continue to follow a strategy of high business growth with sustainable profitability.
Jubilee Insurance is a global brand of the Aga Khan Fund for Economic Development (AKFED) that offers diverse insurance solutions (life, health and general) in the Asian and East African markets. Jubilee Life in Pakistan offers a uniquely designed range of life and health insurance plans, catering to various customer segments and needs. These include retirement, child education, marriage, saving & protection, wealth accumulation, life insurance plans for women, rural insurance plans and life and health insurance solutions for the less privileged of our country.