Karachi: Jubilee Life Insurance Limited has released its unaudited financial statements for the six-month period ending June 30, 2026. The report, dated August 28, 2026, highlights the company's performance against the backdrop of Pakistan's strengthening macroeconomic environment.
During the first half of calendar year 2026, Pakistan's real GDP growth improved to 3.7% from 3.2% in FY25. Average inflation rose significantly to 7.04% from 4.6% in the previous fiscal year, influenced by volatile oil prices due to geopolitical tensions in the Middle East. The State Bank of Pakistan responded by increasing the policy rate by 100 basis points. The current account transitioned from a surplus of USD 1.8 billion in FY25 to a marginal deficit of USD 0.1 billion in FY26, driven by higher imports. However, the external sector remained resilient, bolstered by a 9% rise in workers' remittances, reaching USD 41.6 billion.
Jubilee Life Insurance reported a 14% increase in Gross Written Premium / Contribution (GWPIC) to PKR 16.34 billion from PKR 14.40 billion in 2025. The company's net premium for the period grew by 20% to PKR 6.67 billion, up from PKR 5.57 billion. The underwriting profit was reported at PKR 556 million, slightly lower than PKR 575 million in the previous year. Investment income, including Window Takaful Operations, increased by 5% year-on-year to PKR 3.96 billion, reflecting improved returns on fixed income securities and dividend income.
According to information available from the Pakistan Stock Exchange (PSX), Jubilee Life Insurance's conventional insurance business saw a 10% growth in Gross Written Premium to PKR 13.59 billion, with net premium increasing by 19% to PKR 4.93 billion. Underwriting profit for the six months was PKR 434 million, up from PKR 331 million in 2025. Investment income grew by 8% to PKR 3.79 billion. This resulted in an 8% increase in profit before tax to PKR 4.26 billion and a 10% increase in profit after tax to PKR 2.63 billion. Earnings per share rose by 10% to PKR 13.27.
In the Window Takaful Operations, the company reported a 33% increase in Gross Written Contribution to PKR 2.75 billion, with net contributions rising by 23% to PKR 1.74 billion. The Participants' Takaful Fund reported a deficit of PKR 0.03 billion, compared to a surplus of PKR 0.20 billion last year. The operator's profit after tax was PKR 0.19 billion, slightly higher than PKR 0.18 billion in 2025.
The company's performance reflects its strategic focus on sustainable growth, operational excellence, and long-term value creation. The board of directors regularly monitors strategic initiatives and is satisfied with the company's positioning to capitalize on emerging opportunities while managing business risks.