Karachi: Century Insurance Company Limited has reported a strong financial performance for the year ended December 31, 2024, as revealed during the Board of Directors meeting held on February 14, 2025. The meeting, which took place at the company”s registered office at Lakson Square, Karachi, saw the approval of the audited financial statements and the recommendation of a final cash dividend of Rs.6.00 per share, marking a 60% payout on shares with a nominal value of Rs.10.00 each.

The financial statements showcased a notable increase in net insurance premium, which rose to 1.36 billion compared to 1.20 billion in the previous year. Despite an increase in net insurance claims, which totaled 760.64 million, the company managed to maintain a solid underwriting result of 211.13 million for 2024. Additionally, investment income saw a substantial boost, climbing to 572.38 million from 449.94 million in 2023.

According to information available from the Pakistan Stock Exchange (PSX), Century Insurance”s results from operating activities improved significantly to 850.42 million, up from 763.76 million in the previous year. The insurance firm also reported a profit before tax of 941.91 million, with a net profit of 584.67 million after accounting for an income tax expense of 357.24 million.

The company”s earnings per share after tax increased from Rs.8.98 in 2023 to Rs.10.57 in 2024, highlighting an enhanced financial performance. Shareholders registered by April 21, 2025, will be entitled to the cash dividend, with the share transfer books closed from April 22 to April 29, 2025. The Annual General Meeting is scheduled for April 29, 2025, in Karachi.

Century Insurance”s sustained growth and strategic investment decisions have positioned it favorably within the insurance market category, as evidenced by the company”s robust financial outcomes for 2024.