The Pakistan General Insurance Company Strengthens Performance in First Half of 2026
The Pakistan General Insurance Company Limited (PGI) reported improved financial performance for the six months ended June 30, 2026, supported by stronger underwriting results, higher insurance premiums, improved profitability and a significant increase in cash and cash equivalents.
According to the company’s Directors’ Review Report, PGI continued to focus on profitable underwriting, disciplined claims management, business development and strengthening its overall financial position during the period.
Premium Growth Supports Underwriting Performance
The company recorded gross written premium of approximately Rs.164.73 million during the six-month period, while net insurance premium reached Rs.130.14 million, compared with Rs.41.66 million in the corresponding period of 2025.
PGI’s underwriting result also showed a substantial improvement, rising to Rs.50.40 million from Rs.16.52 million a year earlier. Profit before tax increased to Rs.22.50 million, compared with Rs.14.02 million in the corresponding period, while profit after tax rose to Rs.18.68 million from Rs.11.64 million. Basic earnings per share increased from Rs.0.23 to Rs.36.
The results indicate that the company’s emphasis on underwriting discipline, risk selection and claims management contributed to stronger operating performance during the period.
Asset Base and Liquidity Improve
PGI also reported a stronger financial position at the end of June 2026. Total assets stood at approximately Rs.1.137 billion, compared with Rs.910.10 million at December 31, 2025. Shareholders’ equity amounted to Rs.605.30 million, while issued, subscribed and paid-up capital remained at Rs.500 million.
Liquidity also improved significantly. Cash and cash equivalents increased to approximately Rs.96.56 million as of June 30, 2026, compared with Rs.24.58 million at the end of 2025. Net cash generated from operating activities during the period amounted to approximately Rs.56.80 million.
Diverse Insurance Portfolio
The company’s underwriting portfolio continued to be supported mainly by Motor, Miscellaneous, Fire & Property Damage, and Marine, Aviation & Transport classes. PGI said the improvement in its underwriting result reflected growth in business volumes alongside its focus on underwriting discipline, risk selection, claims management and effective reinsurance arrangements.
This portfolio structure gives the company exposure to several areas of the general insurance market while maintaining a focus on managing the risks associated with each class of business.
Focus on Risk Management and Governance
Like other general insurers, PGI remains exposed to underwriting and claims risks, reinsurance and counterparty risks, investment and market risks, liquidity risks, operational risks and regulatory or compliance risks. The company said these risks continue to be monitored through its underwriting, claims, reinsurance, investment and internal control frameworks.
The Board also reaffirmed its responsibility for maintaining an adequate system of internal financial controls. The company reported continued compliance with applicable provisions of the Companies Act, 2017, Insurance Ordinance, 2000, relevant SECP regulations, corporate governance requirements and applicable Pakistan Stock Exchange requirements.
Outlook Remains Focused on Sustainable Growth
Looking ahead, PGI said it remains focused on sustainable growth through expansion of its underwriting portfolio, prudent risk selection, stronger reinsurance arrangements and effective claims management. The company also plans to improve operational efficiency and further strengthen its capital and liquidity position.
Overall, PGI’s half-year report presents a period of improved profitability, stronger underwriting performance and enhanced liquidity. Continued attention to risk management, claims discipline, reinsurance and operational efficiency is expected to remain central to the company’s strategy as it works toward sustainable growth.
