KARACHI: Adamjee Insurance Company Limited (PSX: AICL) reported a profit after tax of Rs1.31 billion for the quarter ended March 31, 2026, reflecting a decline of around 17% compared to Rs1.58 billion earned in the same period last year. Earnings per share (EPS) also fell to Rs3.74, down from Rs4.52 a year earlier.
The company’s board of directors, which met on April 28, 2026, did not recommend any interim cash dividend, bonus shares, or right shares for the quarter.
Despite the decline in bottom-line earnings, Adamjee Insurance delivered a strong performance in its core insurance business. Net insurance premium rose sharply to Rs12.00 billion, up from Rs8.29 billion in the corresponding quarter of last year, highlighting robust growth in underwriting activity. Underwriting results also improved significantly, increasing to Rs443.1 million from Rs188.4 million a year earlier.
However, overall profitability came under pressure as investment income declined to Rs1.57 billion from Rs1.95 billion, while other income also dropped considerably during the quarter. The company reported profit before tax of Rs2.22 billion, compared with Rs2.57 billion in the same period of 2025. Income tax expense stood at Rs906.1 million.
On the balance sheet, Adamjee Insurance remained financially strong with total assets rising to Rs136.35 billion as of March 31, 2026, compared with Rs134.31 billion at the end of December 2025. The company’s total equity stood at Rs48.34 billion, reflecting a solid capital base to support future business growth.
The results indicate that while investment-related earnings softened during the quarter, Adamjee Insurance continued to strengthen its core underwriting operations, positioning the company on a stable footing as it navigates changing market conditions.
