Karachi: Shaheen Insurance Company Limited has reported significant growth in its half-year financial results for the period ending June 30, 2026. As per the directors' review released on August 31, the company's business volume increased by 32% over the corresponding half-year period in 2025. This growth is attributed to improved macroeconomic conditions in Pakistan and rising demand for insurance solutions.
The financial statements reveal that Pakistan's economy showed signs of stabilization during the fiscal year 2025-26, with GDP growth recorded at 3.70%. Despite this progress, challenges such as public debt and geopolitical uncertainties remain. The insurance sector, however, has shown resilience, benefiting from these economic improvements. The non-life insurance segment demonstrated positive momentum, notably in motor, health, and property insurance lines.
Shaheen Insurance’s conventional business gross premium rose to Rs. 1,046 million, up from Rs. 813 million in the previous year, marking a 29% increase. The Takaful (WTO) business exhibited an impressive growth rate of 82%, with gross premiums increasing from Rs. 61 million to Rs. 110 million. According to information available from the Pakistan Stock Exchange (PSX), the company’s net profit after tax surged by 62.42% to Rs. 106.29 million, compared to Rs. 65.44 million in the previous year. This notable improvement was driven by stronger underwriting profitability and effective management of investment income.
Operating expenses, including business acquisition and management expenses, rose to Rs. 324 million from Rs. 250 million, reflecting the company's expanding operations. Meanwhile, net claims increased slightly to Rs. 475 million from Rs. 442 million. The company's investment and other income contributed Rs. 69 million during the period, a minor decline from Rs. 72 million in the previous year, due to easing markup rates by the State Bank of Pakistan.
The company’s total assets were reported at Rs. 2,849.80 million as of June 30, 2026, while total equity stood at Rs. 1,253.27 million. Shaheen Insurance's commitment to enhancing operational efficiency and compliance with regulatory standards was emphasized in the directors' review.
The directors expressed confidence in the continued growth of both the conventional and Takaful business lines, aligned with government-supported initiatives promoting Islamic banking and Takaful. They extended gratitude to customers and acknowledged the support of regulatory bodies, reinsurance partners, and the dedicated staff of Shaheen Insurance for their contributions to the company's success.