Jubilee Life Insurance reports Rs 1,390 million pre-tax - TopicsExpress



          

Jubilee Life Insurance reports Rs 1,390 million pre-tax profit March 08, 2014 RECORDER REPORT 0 Comments E-mailPrintPDF Jubilee Life Insurance Company Limited announced towering financial results for the year ending on 31 December 2013, cementing its position as the leading insurance company of the private sector. The results were declared by the Board of Directors who met under the chairmanship of Masood Noorani to review the performance of the company. The company reported a pre-tax profit of Rs 1,390 million for 2013, up 72 percent from Rs 809 million for preceding year. With after-tax profit of Rs 941 million, the earnings per share (EPS) stood at Rs 15.01. The company announced a final cash dividend at Rs 3.50 per share, which is in addition to an interim dividend paid earlier at Rs 2.50 per share. The Board of Directors have also recommended to issue bonus shares in the proportion of 15 shares for every 100 shares held. By registering 42 percent increase in net premium income over the last year, Jubilee Life has further strengthened its position as the largest private sector insurer in terms of written premium. Commenting on the financial results, Javed Ahmed, Managing Director & CEO Jubilee Life said, Undeterred by countrys constrained economic expansion and ongoing security concerns, we continue to grow at pace superior than the industrys average. He also said that Jubilee Life remains committed to being the best-value life insurance enterprise for its customers, employees, shareholders and the society.-PR
Posted on: Sat, 08 Mar 2014 04:15:50 +0000

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