But unlike other general insurance companies that witnessed increased costs during the six-month period, JGICL’s lower claims, commissions as well as contained management fee helped the company lift the underwriting profits. Net claims to premium ratio, net commission to premium and management expense as a percentage of net insurance premiums - all witnessed a slide. The company reports a balanced growth in most portfolios coupled with underwriting measures have allowed it to achieve robust technical profit. As a result, underwriting results (or technical profits) to premium ratio which was negative in 1HCY18 and 2QCY18 turned positive in 1HCY19 and 2QCY19.

Investment income that has a lion’s share in a non-life insurance companies’ net income has remained turbulent due to topsy-turvy performance of the stock market since 2018. In 1HCY19, the investment income registered a decline 58 percent, year-on-year.

However, despite lower investment income, rental income, or a decline in profits from associates, JGICL was able to post over three times increase in 2QFY19 profit after tax, and this helped the company shore up its overall 1HCY19 earnings as well. The company has long been benefiting from a well balanced portfolio. It has underwriting in all classes of general insurance including fire, marine, motor, engineering, health, general accident and miscellaneous.