Karachi: The Board of Directors of Jubilee Life Insurance Company Limited presented the unaudited interim financial statements for the half year ending June 30, 2026, revealing a decline in Profit After Tax (PAT) despite a resilient market performance. The PAT stood at Rs. 960 million, a decrease from Rs. 1,273 million noted in the corresponding period last year.

Pakistan's economic landscape, as of the first half of 2026, remained broadly resilient, notwithstanding geopolitical tensions in the Middle East affecting global commodity, currency, and equity markets. Inflationary pressures led the State Bank of Pakistan to raise the policy rate to 11.5%. Despite these challenges, the nation's economy demonstrated improving macroeconomic fundamentals, a stronger external account, and continued progress under the IMF program, which collectively bolstered investor confidence. The equity market exhibited significant recovery, with the benchmark KSE-100 Index advancing by 3.6%, closing at 180,302 points. This was classified as a very large move. According to information available from the Pakistan Stock Exchange (PSX), this recovery highlights the market's resilience in challenging times.

Jubilee Life Insurance's Gross Written Premium for the half year reached Rs. 29.78 billion, marking a 6.8% growth from Rs. 27.88 billion in the same period last year. The company's Window Takaful Operations contributed Rs. 8.62 billion in Gross Contributions, reflecting an 8.4% increase from Rs. 7.95 billion in the previous year. Notably, corporate business across both conventional and takaful segments recorded a significant increase of 20.92% to Rs. 12.75 billion, up from Rs. 10.54 billion.

However, the company's investment income fell to Rs. 11.28 billion from Rs. 12.80 billion in the corresponding period last year. Earnings per share for the period were reported at Rs. 9.57, down from Rs. 12.69 per share in the same period last year.

In light of the surplus generated, the Board of Directors declared an interim cash dividend of Rs. 3.00 per share, consistent with the previous year's declaration. Additionally, the Board has recommended issuing bonus shares at a ratio of one share for every two shares held, equating to a 50% bonus.