Karachi: Atlas Insurance Limited has announced a robust financial performance for the first half of 2026, as detailed in the unaudited accounts presented by the company's chairman on August 28, 2026. The report highlights significant growth in both the company's core underwriting business and investment portfolio, amid a strengthening Pakistani economy.
Pakistan's economy witnessed a broad-based recovery during Fiscal Year 2026, with real GDP expanding by 3.7%. This growth was attributed to prudent fiscal and monetary policies, improved external sector fundamentals, and sustained progress under the IMF-supported reform program. Notably, workers' remittances reached USD 41.6 billion, marking an 8.6% increase from the previous year, despite a widening trade deficit. Foreign exchange reserves rose to USD 22.1 billion, contributing to the stability of the Pakistani Rupee. The State Bank of Pakistan maintained the policy rate at 11.5% due to a stable inflation outlook.
On the fiscal front, the Federal Board of Revenue's tax collection amounted to PKR 13.0 trillion, driven by ongoing fiscal reforms. Pakistan's successful return to international capital markets was bolstered by sovereign credit rating upgrades and a Eurobond issuance after a four-year hiatus. The Pakistan Stock Exchange performed strongly, with the KSE-100 Index posting a very large or significant move, gaining 43% and closing above 180,000 points as of June 30, 2026, according to information available from the Pakistan Stock Exchange (PSX).
The agriculture sector demonstrated resilience with a 2.9% growth rate, despite flood-related challenges. Large-scale manufacturing recorded a robust 6.4% growth during the first ten months of FY26, recovering from the previous year's contraction. This was supported by positive growth in 16 out of 22 manufacturing sectors.
Atlas Insurance Limited reported a 19% increase in gross premiums, totaling Rs. 4.23 billion, and a 16% rise in net premiums to Rs. 1.91 billion. The company's underwriting profit increased by 13% to Rs. 697 million, while investment income surged by 76% to Rs. 1.13 billion, driven by higher capital gains. The profit before tax rose by 42% to Rs. 1.89 billion, and profit after tax increased by 48% to Rs. 1.19 billion.
Overall, Atlas Insurance Limited's performance reflects the company's ability to capitalize on improved economic conditions and effective management of its business operations and investment strategies.