Karachi: Askari Life Assurance Company Limited has released its unaudited financial statements for the half-year ended June 30, 2026, showcasing a period of significant growth and strategic development. The company has navigated a challenging economic environment marked by geopolitical tensions and market volatility, according to a Directors' Review Report dated August 28, 2026.
The company recorded a gross premium revenue of Rs. 2,276.00 million for the half-year period, a substantial increase from Rs. 1,349.64 million in the corresponding period of 2025, marking a significant growth of 68.64%. This performance highlights the company's resilience and effective treasury management amid challenging macroeconomic conditions characterized by inflationary pressures.
The Directors' Review Report underscores the company's strategic expansion of its distribution network through partnerships with the banking sector. By leveraging these alliances, Askari Life has enhanced its bancassurance footprint, facilitating wider market penetration and sustainable growth. The introduction of the Muhafiz Family Takaful Savings Plan, tailored specifically for military personnel, further solidifies the company's commitment to addressing the unique financial needs of its diverse clientele.
Operational expenses rose in tandem with business growth, with marketing, administration, and other expenses increasing by 33% to Rs. 301.97 million, compared to Rs. 226.42 million for the previous year. This rise is attributed to initiatives aimed at enhancing service quality and customer retention amidst prevailing inflationary trends. Additionally, investment and other income grew to Rs. 197.78 million from Rs. 151.05 million, strengthening the company's financial foundation.
According to information available from the Pakistan Stock Exchange (PSX), Askari Life reported a profit after tax of Rs. 25.91 million for the half-year ended June 30, 2026, compared to Rs. 24.40 million in the previous year. This reflects a steady financial performance aligned with the company's long-term growth strategy. Earnings per share stood at Rs. 0.17, a marginal increase from Rs. 0.16 in the same period last year.
The review also details a notable change in shareholding, with the Army Welfare Trust initiating the transfer of 51% of Askari Life's issued share capital to Fauji Foundation. In compliance with regulatory requirements, the company has disseminated relevant information to regulators and the public.
In a subsequent event, a director's resignation from the Board was noted, with plans to fill the vacancy per regulatory guidelines.
The report concludes with a note on the company's ongoing commitment to risk management, emphasizing the strengthening of its risk governance framework to address challenges arising from geopolitical developments and economic conditions.