Jubilee Life Insurance declares 30% Interim Cash DividendAugust 25, 2016
KARACHI, August 25, 2016: Jubilee Life Insurance Company Limited announced impressive financial results for the first half of 2016, declaring an interim cash dividend of 30% (Rs.3.00 per share). The results were declared by the Board of Directors who met under the chairmanship of Mr. Kamal A. Chinoy to review the half yearly performance of the Company.
The Company reported a pre-tax profit of Rs.1,289 million for the first half of 2016, which is 19% higher than the pre-tax profit of Rs.1,086 million for the corresponding period last year, whilst the profit after tax aggregating to Rs.808 million recorded an increase of 20%, as against Rs.674 million in the corresponding period of last year. The earnings per share (EPS) increased to Rs.11.21 per share.
These results have reaffirmed Jubilee Life’s position as the industry’s largest private sector insurer.
Speaking about the financial results, Mr. Javed Ahmed, Managing Director & CEO Jubilee Life said, “Our results are a clear indication that while providing best possible services to our customers, we are also equally enthusiastic about increasing shareholders’ value.”
He added that Jubilee Life is also playing an important role in inculcating a savings culture within the country.
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.