TPL Life Insurance Limited reported a wider loss for the first quarter ended March 31, 2026, despite a strong increase in gross premiums and higher investment income.
According to the company’s unaudited financial results, gross premium increased to Rs188.55 million during the quarter, compared with Rs137.06 million in the same period last year. After reinsurance premium ceded, net premium revenue rose to Rs143.14 million from Rs98.48 million, reflecting continued growth in the company’s premium base.
Investment income also improved modestly, reaching Rs12.70 million compared with Rs12.11 million a year earlier. The company additionally recorded a net fair-value gain of Rs0.83 million on financial assets at fair value through profit or loss, while other net income increased to Rs15.90 million from Rs3.63 million.
As a result, total net income climbed to Rs172.57 million, up from Rs114.22 million in the corresponding quarter of 2025.
However, the improvement in revenue was outweighed by higher operating expenses. Insurance benefits stood at Rs18.91 million, while net insurance benefits amounted to Rs17.64 million after reinsurance recoveries.
The company reported a Rs53.47 million net increase in insurance liabilities, compared with Rs29.97 million previously. Acquisition expenses also rose to Rs57.75 million from Rs29.17 million, while marketing and administration expenses increased to Rs79.39 million from Rs63.45 million.
Total expenses consequently climbed to Rs196.03 million, compared with Rs124.30 million a year earlier. This resulted in a loss from operating activities of Rs41.10 million, wider than the Rs27.86 million loss recorded in the first quarter of 2025.
After financial charges and taxation, TPL Life posted a net loss of Rs46.28 million, compared with a loss of Rs31.80 million in the same quarter last year. Loss per share consequently increased to Rs0.21 from Rs0.14.
Despite the quarterly loss, the company’s balance sheet showed growth in total assets. As of March 31, 2026, total assets stood at Rs1.58 billion, compared with Rs1.46 billion at December 31, 2025. Cash and bank balances increased significantly to Rs957.86 million from Rs876.10 million.
The company also received Rs50 million from its sponsor during the quarter, raising contribution from sponsors to Rs530 million at the end of March. Total equity stood at Rs266.31 million, while accumulated losses from other than participating business reached Rs2.83 billion.
TPL Life’s Window Takaful Operations
TPL Life’s Window Takaful operations also faced pressure during the quarter. Aggregate contribution revenue rose to Rs64.82 million from Rs43.28 million, while net contribution revenue increased to Rs61.20 million from Rs39.96 million.
However, aggregate expenses surged to Rs69.14 million from Rs22.95 million. The Window Takaful operations therefore recorded a loss of Rs11.08 million, compared with a profit of Rs13.53 million in the same period of 2025.
The Takaful segment’s total assets increased to Rs489.59 million as of March 31, 2026, from Rs408.10 million at the end of December 2025. Cash and bank balances also rose to Rs173.25 million from Rs146.20 million.
Overall, TPL Life’s first-quarter results show a mixed picture: premium and contribution revenues expanded considerably and liquidity strengthened, but sharply higher expenses and insurance-related liabilities continued to weigh on profitability.
