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Financial Analysis

Financial Analysis


2022 2021 2020 2019 2018 2017
Income Statement
Gross premium written 3,823.1 3,284.0 2,746.9 2,505.3 2,408.7 2,292.7
Net premium revenue 2970.4 2,398.4 2,163.1 2,136.2 2,246.6 2,068.8
Underwriting expenses -2785.1 (2,280.5) (2,046.8) (2,024.5) (2,116.7) (1,957.1)
Underwriting results 185.3 117.8 116.3 111.7 129.9 111.7
Investment income and other income 84.9 110.8 204.1 152.1 70.7 61.9
Other expenses -236.0 (233.9) (240.8) (207.8) (165.9) (80.1)
Profit / (Loss) before tax for the year 65.1 (5.2) 79.6 56.0 34.7 93.5
Profit / (Loss) after tax 18.3 (9.7) 39.8 30.5 23.8 35.2
Other Comprehensive Income -81.5 196.4 22.4 (4.4) 10.9 (38.6)
Total Comprehensive Income -63.3 186.7 62.2 26.1 34.7 (3.4)
Balance Sheet
Paid up share capital 2026.7 1,393.1 946.7 946.7 955.6 1,009.1
Accumulated (losses) /Unappropriated profits -59.8 (65.3) (164.5) (114.0) 8.0 138.7
Other comprehensive income reserve 107.5 189.0 (7.3) (29.7) (26.7) (26.4)
Other capital reserves 124.6 77.6 24.1
Participant’s Takaful Fund -54.7 (67.5) 41.4 (48.9) (170.3) (201.7)
Total Equity 2144.3 1,526.9 840.4 754.1 766.6 919.7
Investments 1740.0 1,390.4 920.8 729.4 1,026.3 1,213.3
Fixed assets 422.0 401.2 257.5 426.5 122.0 70.0
Capital work in progress 2.6 7.6 21.4
Cash and bank deposits 1569.4 1,046.4 913.4 702.4 251.9 247.2
Other assets 2240.0 1,948.0 1,409.5 1,105.2 1,216.9 1,147.1
Total Assets 5971.4 4,786.1 3,501.2 2,966.1 2,624.7 2,699.0
Underwriting liabilities 2828.7 2,393.3 1,970.8 1,505.1 1,447.4 1,383.6
Other liabilities 998.4 929.9 690.0 706.9 410.7 395.7
Total Liabilities 3827.1 3,259.2 2,660.8 2,212.0 1,858.1 1,779.4

2022 2021 2020 2019 2018 2017
Profitability
Profit Before Tax / Gross Premium % 1.7 -0.20 2.90 2.20 1.40 4.10
Profit Before Tax / Net Premium % 2.2 -0.20 3.70 2.60 1.50 4.50
Profit After Tax / Gross Premium % 0.5 -0.30 1.40 1.20 1.00 1.50
Profit After Tax / Net Premium % 0.6 -0.40 1.80 1.40 1.10 1.70
Underwriting Result / Gross Premium % 4.8% 3.60 4.20 4.50 5.40 7.80