PICIC Insurance Limited reported a net loss of Rs3.43 million for the quarter ended March 31, 2026, compared to a loss of Rs1.42 million recorded during the same period last year, reflecting continued financial challenges despite gains from its investment portfolio.
According to the company’s financial results, management expenses stood at Rs1.45 million during the quarter, while other expenses amounted to Rs1.99 million. As a result, PICIC Insurance recorded a loss before and after tax of Rs3.43 million, significantly higher than the Rs1.42 million loss reported in the corresponding quarter of 2025.
However, the company benefited from unrealized gains on available-for-sale investments, which contributed Rs7.33 million in other comprehensive income during the period, compared to Rs1.97 million a year earlier. These gains helped PICIC Insurance post a total comprehensive income of Rs3.90 million for the quarter despite the net loss.
The balance sheet showed total assets of Rs118.44 million as of March 31, 2026, up from Rs111.12 million at the end of December 2025. Investments in mutual funds remained the company’s largest asset category, increasing to Rs92.12 million from Rs84.79 million.
On the liabilities side, total liabilities rose slightly to Rs143.70 million from Rs140.28 million at the end of 2025. The company continued to report negative equity, although shareholders’ deficit improved to Rs25.26 million from Rs29.16 million, supported by the increase in investment revaluation reserves.
The Board of Directors did not recommend any cash dividend, bonus shares, or right shares for the quarter under review. The company also stated that there was no other material price-sensitive information to disclose.
Loss per share for the quarter stood at Rs0.10, compared with a loss per share of Rs0.04 in the same period last year.
