Askari General Insurance Posts Rs171.5 Million Profit in First Quarter of 2026

Askari General Insurance Company Limited reported a profit after tax of Rs171.54 million for the quarter ended March 31, 2026, according to its unaudited consolidated financial results.

The company’s consolidated net insurance premium rose to Rs1.071 billion during the quarter, compared with Rs868.99 million recorded in the same period last year, reflecting continued growth in its insurance business. However, higher insurance claims and acquisition costs, along with increased management expenses, affected the company’s underwriting performance.

The company recorded net insurance claims of Rs788.56 million, while net commission and other acquisition costs stood at Rs21.67 million. As a result, the total insurance claims and acquisition expenses reached Rs766.89 million.

Askari General Insurance’s underwriting results stood at Rs43.16 million, compared with Rs54.75 million in the corresponding quarter of 2025. Management expenses also increased to Rs260.66 million from Rs216.32 million a year earlier.

Despite pressure on underwriting results, the company continued to benefit from investment and other income. Investment income amounted to Rs123.55 million, while rental income reached Rs12.49 million. Other income stood at Rs51.53 million.

The company reported profit before tax of Rs271.998 million, compared with Rs306.979 million in the same quarter of 2025. After accounting for income tax expense of Rs100.455 million, consolidated profit after tax stood at Rs171.543 million, against Rs203.576 million previously.

The company’s earnings per share declined to Rs1.70 from Rs2.58 in the corresponding period last year.

Meanwhile, other comprehensive income included an unrealised loss on available-for-sale investments of Rs60.31 million and an unrealised loss of Rs2.92 million related to investments from the Window Takaful Operations. Consequently, total comprehensive income for the period stood at Rs108.31 million, compared with Rs99.96 million a year earlier.

Overall, Askari General Insurance delivered strong growth in net insurance premiums during the first quarter, although rising claims, expenses and lower investment income weighed on its bottom line. The results indicate that while the company expanded its insurance business, profitability remained under pressure compared with the same period of 2025.

The company’s board meeting held on April 21, 2026 recommended no cash dividend, bonus shares or right shares for the quarter.