Shaheen Insurance Reports 38% Growth in Nine-Month Net Profit, Gross Premium Rises 33%
Shaheen Insurance Company Limited (SHNI) has reported a strong financial performance for the nine months ended September 30, 2026, posting a 38% increase in net profit after tax alongside significant growth in its conventional insurance and Window Takaful businesses.
According to the company’s unaudited financial statements submitted for the period, net profit after tax increased to Rs. 132.90 million, compared with Rs. 96.66 million in the corresponding period of 2025.
Profit before tax also witnessed a substantial improvement, reaching Rs. 184.65 million against Rs. 136.14 million in the same period last year.
Gross Premium Increases 33%
The company’s overall business volume demonstrated encouraging growth during the reporting period. Total gross premium increased by 33% to Rs. 1.758 billion, compared with Rs. 1.324 billion in the corresponding nine months of 2025.
Conventional insurance remained the company’s largest business segment, with gross premium rising 29% to Rs. 1.529 billion from Rs. 1.182 billion.
Meanwhile, Window Takaful Operations delivered even stronger growth, recording a 61% increase in gross contributions to Rs. 229.30 million, compared with Rs. 141.99 million in the previous corresponding period.
The performance highlights growing contributions from both conventional insurance and Shariah-compliant insurance services.
Improved Claims Experience Supports Performance
Shaheen Insurance also reported an improvement in its claims performance. Net insurance claims stood at Rs. 543.11 million during the nine-month period, compared with Rs. 545.84 million in the same period of 2025.
The company’s claims ratio improved to 51% from 57%, reflecting better claims experience and continued emphasis on underwriting discipline.
Management expenses increased to Rs. 240.62 million from Rs. 199.92 million, while net commission and acquisition expenses reached Rs. 188.36 million, compared with Rs. 151.49 million in the corresponding period last year. These increases were reported alongside the expansion in business operations.
Investment and Takaful Income
Investment income amounted to Rs. 58.77 million during the nine months, compared with Rs. 74.37 million in the corresponding period of 2025.
Other income, however, increased considerably to Rs. 43.92 million from Rs. 21.36 million.
The company’s Window Takaful Operations generated a profit before tax of Rs. 16.61 million, representing an increase of approximately 42% compared with Rs. 11.67 million in the previous corresponding period.
The accumulated surplus in the Participants’ Takaful Fund stood at Rs. 20.37 million at September 30, 2026.
Earnings Per Share and Financial Position
The company’s earnings per share (EPS) for the nine months ended September 30, 2026, stood at Rs. 1.27.
Total assets increased to Rs. 3.205 billion at the end of September 2026, compared with Rs. 2.916 billion at December 31, 2025. Total equity also improved to Rs. 1.279 billion from Rs. 1.147 billion.
The company reported total investments in equity securities and debt securities of approximately Rs. 817.68 million, reflecting its investment portfolio.
Management Remains Focused on Sustainable Growth
In its directors’ review, the company highlighted Pakistan’s improving economic activity while acknowledging continuing challenges, including inflationary pressures, public debt, energy-sector issues and geopolitical uncertainties.
Management stated that it would continue focusing on prudent underwriting, effective claims management, operational efficiency and risk management to support sustainable business growth.
Shaheen Insurance Company Limited, established in 1995 and listed on the Pakistan Stock Exchange, operates across various general insurance segments, including fire, marine, motor, aviation, engineering, health and travel insurance. Its Window Takaful Operations, launched in 2018, provide Shariah-compliant insurance solutions.
The latest financial results indicate that Shaheen Insurance has maintained positive earnings momentum while expanding its conventional and Takaful businesses. Continued improvements in underwriting performance, claims management and operational efficiency will remain important factors in sustaining its financial growth.
The financial results are based on the company’s unaudited financial statements for the nine months ended September 30, 2026.
