Karachi: PICIC Insurance Limited has disclosed its financial outcomes for the first half of 2024, as announced in a recent Board of Directors meeting held on August 20, 2024, in Karachi. The company declared a cash dividend, bonus shares, and rights issue all at nil, indicating no changes in shareholder entitlements or any other price-sensitive information.

The financial results, which detail performance up to June 30, 2024, reveal steady figures in net insurance premiums and claims compared to the previous year. According to information available from the Pakistan Stock Exchange (PSX), the unaudited profit after tax for the period stands at 12.274 million rupees, a significant rise from 1.225 million rupees in the preceding quarter.

A breakdown of the financial activities shows the company's underwriting results alongside management, investment, and other incomes contributing to the operating results. The company recorded a total comprehensive income of 12.274 million rupees for the period, marked by basic and diluted earnings per share increasing from 0.21 to 0.49.

PICIC Insurance has confirmed that the Quarterly Report for the half-year ended June 30, 2024, will be disseminated through PUCARS within the designated timeframe. This report is anticipated to provide further insights into the company’s financial health and strategic direction for the remainder of the year.