Karachi: The Pakistan General Insurance Company Limited has released its condensed interim financial statements for the six-month period ending June 30, 2026, showcasing a robust financial performance and strategic business growth. The Directors' Review Report, dated September 22, 2026, outlines the company's achievements during this period amidst a challenging economic environment.
The company's financial performance in the first half of 2026 saw a noteworthy increase in gross written premium, which amounted to approximately Rs.164.73 million. This reflects a substantial improvement in business activity, compared to the previous year's figure of Rs.41.66 million for the same period. Net insurance premium also rose to Rs.130.14 million, highlighting the company's focus on profitable underwriting and disciplined claims management.
According to information available from the Pakistan Stock Exchange (PSX), the underwriting result improved remarkably to Rs.50.40 million from Rs.16.52 million, demonstrating the company's effective risk management and strategic reinsurance arrangements. Profit before tax reported a moderate move, standing at Rs.22.50 million, compared to Rs.14.02 million in the corresponding period of 2025. Profit after tax increased to Rs.18.68 million from Rs.11.64 million, with basic earnings per share reaching Rs.0.36 against Rs.0.23.
The company's total assets grew significantly, amounting to Rs.1.14 billion as at June 30, 2026, up from Rs.910.10 million at the end of 2025. Shareholders' equity was recorded at Rs.605.30 million, while the issued, subscribed, and paid-up capital remained at Rs.500 million.
The Pakistan General Insurance Company Limited's underwriting portfolio continued to thrive, supported mainly by the Motor, Miscellaneous, Fire & Property Damage, and Marine, Aviation & Transport classes. The improved underwriting result was driven by increased business volumes and management's emphasis on underwriting discipline, risk selection, and efficient claims management.
The company reported a significant move in its liquidity position, with cash and cash equivalents rising to approximately Rs.96.56 million as of June 30, 2026, from Rs.24.58 million at the close of 2025. Net cash generated from operating activities was recorded at approximately Rs.56.80 million, underscoring the company's operational efficiency and strong cash flow management.
The Directors' Review Report also highlighted the principal risks and uncertainties faced by the company, including underwriting and claims risk, reinsurance and counterparty risk, investment and market risk, liquidity risk, operational risk, and regulatory compliance risk. The company continues to monitor these risks through its established frameworks.
The company remains committed to adhering to the applicable provisions of the Companies Act, 2017, the Insurance Ordinance, 2000, and the Listed Companies (Code of Corporate Governance) Regulations, 2019. It also complies with the requirements of the Securities and Exchange Commission of Pakistan and the Pakistan Stock Exchange.
Looking ahead, the company aims to sustain its growth trajectory through the expansion of its underwriting portfolio, prudent risk selection, enhancement of reinsurance arrangements, effective claims management, and strengthening of its capital and liquidity position. The Board of Directors expressed their appreciation for the support of shareholders, policyholders, business partners, reinsurers, regulators, bankers, and other stakeholders, acknowledging the efforts of the management and employees in achieving the company's performance during the first half of 2026.