Karachi: IGI Life Insurance Limited has released its condensed interim financial statements for the nine months ending September 30, 2026, revealing a complex financial landscape marked by fluctuating premiums and strategic management actions. The report was disclosed on October 30, 2026.

The company’s net profit before tax for the period stood at Rs. 349.157 million, showing a slight improvement from Rs. 348.417 million in the previous year. After accounting for taxation of Rs. 104.505 million, the net profit after tax reached Rs. 244.652 million, compared to Rs. 239.140 million in the same period last year. The earnings per share increased marginally to Rs. 1.43 from Rs. 1.40.

According to information available from the Pakistan Stock Exchange (PSX), IGI Life's gross premium, including takaful contributions, fell significantly to Rs. 7.912 billion from Rs. 11.327 billion in the corresponding period of 2025. This decline reflects a decrease in individual life regular premium, which dropped by 7% to Rs. 2.999 billion from Rs. 3.229 billion last year.

Conversely, group life premiums, including takaful group family contributions, rose by 8% to Rs. 1.214 billion, and group health premiums increased by 18% to Rs. 2.644 billion. However, single premium individual policies experienced a steep decline, registering Rs. 1.055 billion compared to Rs. 4.734 billion in the previous period.

The company attributed its profit after tax of Rs. 245 million, a minor move from the Rs. 239 million reported last year, to ongoing efforts to counter high acquisition costs and reprice products within its Corporate Life and Health sectors.

In its Window Takaful Operations, the company reported a decrease in gross contributions to Rs. 2.195 billion from Rs. 2.561 billion, while net contributions declined to Rs. 1.706 billion from Rs. 2.035 billion. Despite this, investment income from the Operator's Fund increased significantly, boosting the operator's profit after tax to Rs. 57.579 million from Rs. 35.252 million, marking a very large or significant move.

The company also addressed sales tax liabilities following a notification from the Sindh Revenue Board (SRB). IGI Life recognized a liability of Rs. 83.264 million, with Rs. 29.001 million already deposited and Rs. 54.263 million scheduled for payment by December 31, 2026. Despite a restraining order in place, management remains confident in its legal standing.

IGI Life is also progressing with its compliance with the IFRS 17 global accounting standard, having completed Dry Run 1 for FY 2024 and currently working on Dry Run 2 for FY 2025. The company continues to align with the Securities Exchange Commission of Pakistan's directives to enhance transparency and comparability in its financial disclosures.