Karachi: The Board of Directors of Jubilee Life Insurance Company Limited presented the condensed interim financial statements for the quarter ended March 31, 2025, highlighting both achievements and challenges faced by the company.

The report disclosed a 30% increase in Gross Written Premium, reaching Rs. 15,449 million, compared to Rs. 11,918 million in the same quarter of the previous year. This marks a significant milestone, as it surpassed the Rs. 15,000 million mark for the first time in any first quarter of the company's history. First Year Premium from new sales rose to Rs. 1,512 million from Rs. 967 million in the same period last year.

Window Takaful Operations contributed significantly with Rs. 4,116 million in Gross Contributions, compared to Rs. 3,008 million previously. The corporate business segment, encompassing both conventional and takaful segments, also showed growth, reaching Rs. 7,049 million from Rs. 5,370 million.

Investment income for the quarter was reported at Rs. 6,727 million, a decrease from Rs. 9,588 million last year. This decline was attributed to lower yields following a reduction in interest rates amid easing inflation. According to information available from the Pakistan Stock Exchange (PSX), the KSE-100 index reflected a bullish trend with a 2.3% quarterly gain, closing at 117,807 points.

Despite the robust business growth, the decline in investment income impacted overall profitability. Profit After Tax stood at Rs. 393.55 million, down from Rs. 548.97 million in the same quarter last year, with earnings per share recorded at Rs. 3.92 compared to Rs. 5.47.

The company reiterated its commitment to addressing the evolving needs of policyholders through innovation and enhanced digital capabilities. Ongoing legal proceedings regarding the applicability of Sales Tax on life and health insurance are being pursued in collaboration with the industry.

Acknowledging support from government authorities, SECP, and the State Bank of Pakistan, the company expressed gratitude to its policyholders and business partners for their confidence and patronage. The company also acknowledged the dedication of its employees in contributing to the company's success.