KARACHI: Jubilee Life Insurance Company Limited announced impressive financial results for the year ended December 31, 2017, recommending a Final cash dividend of 145% (Rs.14.50 per share). This is in addition to interim cash dividend of 30% declared earlier, bringing the total payout for the year to 175% (Rs.17.50 per share).
The Company reported a pre-tax profit of Rs.3,876 million during the year as compared to Rs.3,152 million in 2016, representing an increase of 23%. The profit after tax was recorded at Rs.2,570 million, as compared to Rs.2,108 million during the year 2016, an increase of 22%. The earnings per share (EPS) increased from Rs.26.57 in 2016 to Rs.32.39 in 2017, an increase of 22%. 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 2017 was another impressive performance from Jubilee Life, which was recognized by third parties with awards and accolades during the year, including the selection for the prestigious PSX Top 25 Companies Award for 2016, and the 5th FPCCI Achievement Award for 2016.
Speaking about the financial results, Mr. Javed Ahmed, Managing Director & CEO Jubilee Life said, “Our results are a reflection of our commitment to excellence – we believe in being second to none. With our footprints spread all across Pakistan, we remain the insurer of choice for countless families and households across the country, and our achievements, including some of the most prestigious awards of the corporate sector, make us the leader in the field of life insurance in Pakistan.”
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.