The profit after tax of New Jubilee Life Insurance Company has increased to Rs 146.752 million in the year ended December 31, 2010 as compared to Rs 129.943 million earned in the corresponding period in 2009. The company's earning per share increased to Rs 2.34 in the period under review against Rs 2.07 in the same period a year back.
The board of directors of the company in its meeting held here on Wednesday recommended a final cash dividend of Rs 1.50 per share ie 15 percent for the year ended December 31, 2010 for approval of the members.
According to the financial results sent to Karachi Stock Exchange, the company's gross revenue net of reinsurance increased to Rs 5,451.804 million in 2010 against Rs 4,054.739 million in 2009 while investment income and other income stood at Rs 1,302.972 million against Rs 1,302.883 million.
In the expenses, the claims including movement in policyholders' liability increased to Rs 4,221.491 million against Rs 3,330.090 million while management expenses increased to Rs 2,017.737 million against Rs 1,710.012 million. The company's profit before taxation increased to Rs 217.268 million in 2010 against Rs 160.744 million in 2009.
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