Karachi: Crescent Star Insurance Limited has released its financial results for the quarter ending September 30, 2026, showing a substantial downturn in its financial performance compared to the previous year. The company reported a loss after taxation of 30,825,583 rupees for the three-month period, a significant shift from the loss of 7,174,102 rupees recorded in the same period last year. For the nine months ending September 30, 2026, the loss widened to 81,751,150 rupees, in stark contrast to a profit of 10,324,550 rupees for the corresponding period in 2025.
The net insurance premium for the third quarter rose to 30,312,844 rupees from 21,769,138 rupees recorded during the same period last year. However, the nine-month figure showed a reduction, with the premiums totaling 65,096,975 rupees, down from 72,721,717 rupees in 2025. Insurance claims and acquisition expenses spiraled to 9,534,303 rupees for the three months and 19,215,883 rupees for the nine months, both significantly higher than the amounts recorded in the previous year.
Management expenses saw an increase, reaching 36,164,595 rupees for the quarter, compared to 30,810,740 rupees in the same period of 2025. This rise in expenses contributed to a widening underwriting loss, reported at 15,386,054 rupees, a notable increase from the previous year's loss of 9,875,961 rupees.
According to information available from the Pakistan Stock Exchange (PSX), Crescent Star's investment income took a downturn, showing a loss of 12,405,977 rupees for the quarter, a stark contrast to a gain of 2,158,214 rupees in the corresponding period of 2025. Other income increased to 7,407,461 rupees, up from 2,152,638 rupees last year, while other expenses decreased slightly to 1,293,988 rupees from 1,687,521 rupees.
The overall result of operating activities showed a significant loss of 21,678,558 rupees for the third quarter, compared to a loss of 7,252,630 rupees in 2025. The total comprehensive loss for the quarter was 25,523,320 rupees, diverging from a gain of 33,569,266 rupees in the previous year. For the nine-month period, the total comprehensive loss amounted to 133,382,141 rupees, compared to a gain of 49,994,739 rupees in the previous year.
Earnings per share for the quarter fell to (0.21) rupees, down from (0.07) rupees in the third quarter of 2025. The company's financial struggles are evident in the reported figures, reflecting challenges in both operational and investment activities during the period.