Karachi: The Board of Directors of TPL Corp Limited has released the company's un-audited financial statements for the six-month period ending June 30, 2026, showcasing a noteworthy increase in the company's gross premium. According to the report, the gross premium reached Rs.353.43 million, a 24% improvement from the Rs.284.78 million recorded in the previous year. This increase is primarily attributed to the Individual Life Unit Linked - Takaful business, which surged by 117% to Rs.123.64 million from last year's Rs.56.93 million.
The directors' report outlines a mixed performance across different segments of the company's operations. The Accident & Health business also contributed positively, with revenues rising to Rs.196.19 million compared to Rs.167.16 million last year, marking a 17% increase. However, the Group Life Business and Group Family Takaful segments experienced declines, with decreases of 59% and 30% respectively.
The business portfolio distribution between Life and Health stands at 43% and 57%, while the Takaful business comprises 40% compared to 60% for Conventional business. The company's strategic focus on expanding its retail business and underwriting unit-linked policies through financial institutions continues, with efforts directed towards engaging additional financial institutions for business growth.
Despite the rise in gross premium, TPL Corp reported a before-tax loss of Rs.104.28 million for the six-month period, up from Rs.90.81 million during the same period in 2025. The company attributes this increase in losses to higher acquisition expenses related to the expanded unit-linked portfolio and management expenses during the period.
According to information available from the Pakistan Stock Exchange (PSX), TPL Corp's premium reserves increased to Rs.98.52 million from Rs.82.95 million, while investment income improved to Rs.48.61 million from Rs.29.41 million in the previous year. Despite these improvements, the company's earnings per share (EPS) declined slightly to Rs.0.46 from Rs.0.43.
TPL Corp has fortified its risk management strategies by entering into reinsurance arrangements with Munich Re and Gen Re, both holding strong credit ratings of 'AA' and 'AA-F' by Standard & Poor's, respectively. This move is aimed at diversifying risk and enhancing the company's underwriting capacity.
Financially, the company maintains an Insurer Financial Strength (IFS) rating of A (Single A) by PACRA, reflecting a stable outlook. However, the broader economic environment in Pakistan remains challenging, with financial market volatility and geopolitical uncertainties affecting the landscape.
In response to these challenges, TPL Corp is endeavoring to bolster its top line by expanding its retail business, particularly through Micro Finance Institutions (MFIs), while continuing to leverage opportunities through financial institutions. Despite the obstacles, the company remains cautiously optimistic about its growth prospects in the current economic climate.