NEW JUBILEE INSURANCE (NON-LIFE)

Prominently located at I.I.Chundrigar Road

Apr 09 - 15, 2007

New Jubilee Insurance is perhaps the fastest growing company in the non-life insurance sector which is prominently located at I.I. Chundrigar Road Karachi. The impressive performance of NJI is evident from following salient numbers:

 

2006

2005

(Rupees in '000)

Gross Premium

2,571,883

1,736,610

Net Premium Revenue

1,486,429

917,118

Underwriting Profit

99,676

69,603

Investment income including capital gain and rent

814,868

544,609

Profit before tax

936,793

614,407

Profit after tax

841,733

556,201

Earning per share of Rs.5/- each

9.58

6.33

NJI posted record growth of 48% in the written premium to achieve more than Rs.2.50 billion. The net premium revenue increased by 62% to almost Rs.1.50 billion. The growth came from all classes of business i.e. Fire & Property portfolio grew by 51%, Marine by 44%, Motor by 34%, Liability by 41%, Accident and Health by 34% and Miscellaneous by 111% respectively. As a result the Company's business portfolio remains one of the most balanced and diversified in the industry. The underwriting profit of almost Rs.100 million is 43% higher than the previous year. On the back of strong performance, the NJI Board was pleased to recommend 40% cash dividend and 25% bonus shares.

During the year 2006, NJI added three branches to its network and going forward the management plans to add another three branches in 2007 to bring personalized service to the doorstep of clients. The management is geared to build upon the balanced portfolio to grow in all areas specially in non-traditional ones like engineering projects, products for financial institutions and crop insurance.

NJI is a company which emphasizes providing quality and knowledge-based insurance solutions to its clients and thereby, is able to position it self as the best insurance company of Pakistan.

NJI posted record growth of 48% in the written premium to achieve more than Rs.2.50 billion. The net premium revenue increased by 62% to almost Rs.1.50 billion. The growth came from all classes of business i.e. Fire & Property portfolio grew by 51%, Marine by 44%, Motor by 34%, Liability by 41%, Accident and Health by 34% and Miscellaneous by 111% respectively. As a result the Company's business portfolio remains one of the most balanced and diversified in the industry. The underwriting profit of almost Rs.100 million is 43% higher than the previous year. On the back of strong performance, the NJI Board was pleased to recommend 40% cash dividend and 25% bonus shares.

During the year 2006, NJI added three branches to its network and going forward the management plans to add another three branches in 2007 to bring personalized service to the doorstep of clients. The management is geared to build upon the balanced portfolio to grow in all areas specially in non-traditional ones like engineering projects, products for financial institutions and crop insurance.

NJI is a company which emphasizes providing quality and knowledge-based insurance solutions to its clients and thereby, is able to position it self as the best insurance company of Pakistan.