Karachi: Habib Insurance Company Limited has disclosed its financial results for the fiscal year ending December 31, 2024. The company’s Board of Directors met on March 27, 2025, and approved a cash dividend of Rs. 1.00 per share, equivalent to a 20.0% payout for the year.

The company’s profit after tax for the year stood at Rs. 236.85 million, compared to Rs. 112.78 million in the previous year. The earnings per share were reported at Rs. 1.91, reflecting an improvement from Rs. 0.91 in 2023.

According to information available from the Pakistan Stock Exchange (PSX), the net insurance premium for Habib Insurance Company was Rs. 1,492.36 million, a slight decrease from Rs. 1,505.71 million recorded in 2023. The net insurance claims amounted to Rs. 934.29 million, down from Rs. 951.90 million in the prior year.

Investment income saw a significant increase, reaching Rs. 459.05 million from Rs. 305.20 million in 2023. Other income also rose to Rs. 122.21 million from Rs. 48.12 million. However, the company incurred other expenses amounting to Rs. 12.84 million, marginally down from Rs. 13.68 million the previous year.

The management expenses for the year totaled Rs. 774.66 million, slightly up from Rs. 764.80 million in 2023. The results of operating activities improved substantially to Rs. 341.76 million from Rs. 98.95 million.

The profit before tax from Window Takaful Operations – Operator’s Fund was Rs. 41.87 million, compared to Rs. 69.91 million in 2023. The overall profit before tax reached Rs. 375.55 million, a notable rise from Rs. 159.74 million in the previous year.

Habib Insurance’s total comprehensive income rose to Rs. 629.39 million, up from Rs. 412.57 million in 2023. This included an unrealized gain on available-for-sale investments of Rs. 366.75 million after related tax impacts, along with an actuarial gain on the defined benefit plan amounting to Rs. 16.50 million.

The Annual General Meeting is scheduled for April 29, 2025, in Karachi. Shareholders registered by April 15, 2025, will be eligible for the declared entitlements, and the share transfer books will remain closed from April 16 to April 29, 2025.