KARACHI: Askari Life Assurance Company Limited reported a return to profitability during the first quarter ended March 31, 2026, supported by strong growth in premium revenue and improved underwriting performance. The company announced its financial results following a meeting of its Board of Directors held on April 29, 2026. No cash dividend, bonus shares, right shares, or any other corporate action were declared.
According to the company’s financial statements, Askari Life posted a profit after tax of Rs13.95 million for the three-month period, compared with a loss of Rs1.16 million recorded in the corresponding period last year. Earnings per share (EPS) stood at Rs0.09, reversing from a loss per share of Rs0.01 a year earlier.
The turnaround was primarily driven by a sharp increase in business volumes. Gross premium revenue climbed to Rs1.23 billion, up from Rs711.66 million in the same quarter of 2025. After accounting for reinsurance ceded, net premium revenue increased significantly to Rs1.12 billion, reflecting stronger insurance operations and business growth.
The company also reported investment income of Rs64.80 million, although unrealized fair value losses on financial assets partially offset overall income. Total income reached Rs1.14 billion, marking a substantial improvement from Rs695.04 million recorded in the corresponding period last year.
On the expense side, net insurance benefits expense rose to Rs184.89 million, while acquisition, marketing, and administrative expenses also increased as the company expanded its operations. Despite higher operating costs, the growth in premium income enabled Askari Life to record a pre-tax profit of Rs14.05 million, compared with a pre-tax loss of Rs1.08 million in the same period last year.
As of March 31, 2026, the insurer’s total assets stood at approximately Rs4.40 billion, while shareholders’ equity improved to Rs637.48 million, reflecting the impact of the quarter’s earnings. Cash and bank balances were reported at Rs291.95 million at the end of the reporting period.
The latest results indicate a positive start to 2026 for Askari Life, with higher premium collections and a return to profitability strengthening the company’s financial position despite a challenging operating environment.
