Karachi: IGI Life Insurance has reported a significant growth in its financial performance for the first half of 2025, as detailed in the Directors’ Report released on August 29, 2025. The company recorded a net profit after tax of Rs. 168.86 million, reflecting a significant improvement from the Rs. 105.25 million reported in the same period last year.
The company’s financial statements reveal a net profit before tax of Rs. 244.72 million, up from Rs. 150.35 million in 2024. After accounting for taxation amounting to Rs. 75.86 million, the net profit after tax stood at Rs. 168.86 million. The earnings per share increased to Rs. 0.99 compared to Rs. 0.62 in the previous year.
The gross premium written by IGI Life Insurance, including takaful contributions, amounted to Rs. 7.14 billion, an increase from Rs. 6.53 billion in the corresponding period of the previous year. The individual life regular premium, including takaful contributions, rose by 13%, reaching Rs. 2.07 billion. Group life premiums, including takaful group family contributions, experienced a substantial increase of 37%, totaling Rs. 627 million. Group health premiums, including takaful group health contributions, grew by 21% to Rs. 1.26 billion.
The single premium/contribution individual policies amounted to Rs. 3.19 billion, a minor move compared to Rs. 3.21 billion in the previous year. According to information available from the Pakistan Stock Exchange (PSX), these figures indicate a strong performance in the insurance market category, despite the challenging economic environment.
In the window takaful operations, the company reported gross contributions of Rs. 1.67 billion, with net contributions of Rs. 1.26 billion. The investment income for the policyholder’s fund increased to Rs. 285.68 million. The operator’s fund reported an investment income of Rs. 26.24 million, with a profit before tax of Rs. 34.25 million, marking a turnaround from a loss of Rs. 54.22 million in the previous year.
In addition to its financial achievements, IGI Life Insurance launched the Mahaana IGI Islamic Retirement Fund on May 20, 2025, in collaboration with Mahaana Wealth Management Limited. This initiative, under the Voluntary Pension System Rules, 2005, underscores the company’s commitment to expanding its offerings and catering to diverse customer needs.
Looking ahead, IGI Life Insurance acknowledges the challenges posed by macroeconomic uncertainties, inflationary pressures, and evolving regulatory requirements. Despite these hurdles, the company remains focused on maintaining steady, sustainable, and risk-aware growth. The Board of Directors expressed gratitude to their customers, business partners, stakeholders, and employees for their trust and valuable contributions during this period.