Skip to content
Smart Money
Create free account Log in

Insurance

AICL Adamjee Insurance Company Limited

Latest results: FY2025 · Dec 2025 Q2 FY2026 · Apr – Jun 2026

Watch AICL · free results alerts

Last close · 16 Oct 2026

Rs 94.32 +0.68%

Annual · FY2006 – FY2025

Adamjee Insurance Company Limited (AICL) income statement

Adamjee Insurance Company Limited reported total income of Rs 93.8 bn for FY2025 (Jan – Dec 2025), up 20.3% on FY2024. Tax of Rs 4.1 bn took 41.3% of pre-tax profit. Profit attributable to shareholders was Rs 5.6 bn, up 16.2% on FY2024, or Rs 15.93 per share.

AICL income statement (annual) (Rs bn)
Rs bn FY2025 * Jan – Dec 2025 FY2024 * Jan – Dec 2024 FY2023 * Jan – Dec 2023 FY2022 * Jan – Dec 2022 FY2021 * Jan – Dec 2021
Net premium earned 74.9 57.2 42.0 37.3 32.7
Investment income (net) 17.6 20.5 16.9 8.8 6.4
Total income 93.8 78.0 59.0 45.8 39.2
Net claims & benefits (74.9) (67.3) (48.5) (30.5) (25.8)
Acquisition & underwriting expenses (10.2) (7.4) (5.7) (4.9) (4.7)
Profit before tax 9.8 8.6 5.0 3.3 4.3
Taxation (4.1) (3.6) (2.3) (0.9) (1.3)
Profit after tax 5.8 5.0 2.7 2.4 2.9
Profit attributable to shareholders 5.6 4.8 2.6 2.3 2.9
Per share
EPS – basic (Rs) Rs 15.93 13.71 7.50 6.69 8.41
Dividend per share (Rs) Rs 4.00 3.00 3.00 3.00 3.00
AICL income statement — year-on-year change (Rs mn)
Rs mn FY2025 * Jan – Dec 2025 FY2024 * Jan – Dec 2024 FY2023 * Jan – Dec 2023 FY2022 * Jan – Dec 2022 FY2021 * Jan – Dec 2021
Net premium earned +30.9% +36.3% +12.6% +14.1% +9.5%
Investment income (net) -14.0% +21.1% +92.2% +36.4% +35.2%
Total income +20.3% +32.2% +28.9% +16.8% +13.1%
Net claims & benefits +11.3% +38.8% +59.2% +18.0% +4.2%
Acquisition & underwriting expenses +37.7% +30.2% +16.1% +5.4% +3.0%
Profit before tax +14.2% +71.8% +53.3% -23.6% +91.4%
Taxation +11.3% +59.4% +161.0% -34.0% +762.0%
Profit after tax +16.4% +82.3% +13.9% -18.9% +41.7%
Profit attributable to shareholders +16.2% +82.7% +12.2% -20.5% +41.9%
Per share
EPS – basic (Rs) +16.2% +82.7% +12.2% -20.5% +41.9%
Dividend per share (Rs) +33.3% 0.0% 0.0% 0.0% +20.0%

Change against the previous fiscal year; shown when the earlier figure is positive.

AICL income statement — common size (Rs mn)
Rs mn FY2025 * Jan – Dec 2025 FY2024 * Jan – Dec 2024 FY2023 * Jan – Dec 2023 FY2022 * Jan – Dec 2022 FY2021 * Jan – Dec 2021
Net premium earned 79.9% 73.4% 71.2% 81.5% 83.3%
Investment income (net) 18.8% 26.2% 28.7% 19.2% 16.5%
Total income 100.0% 100.0% 100.0% 100.0% 100.0%
Net claims & benefits (79.9%) (86.4%) (82.3%) (66.6%) (65.8%)
Acquisition & underwriting expenses (10.9%) (9.5%) (9.7%) (10.7%) (11.9%)
Profit before tax 10.5% 11.0% 8.5% 7.1% 10.9%
Taxation (4.3%) (4.7%) (3.9%) (1.9%) (3.4%)
Profit after tax 6.1% 6.4% 4.6% 5.2% 7.5%
Profit attributable to shareholders 5.9% 6.2% 4.5% 5.1% 7.5%

Each line as a percentage of total income.

Figures in Pakistani rupees as reported by the company; costs and cash outflows in brackets; "—" = not reported. * Figures in this period do not fully reconcile in the source data (hover the * for details). Updated 16 Oct 2026.

All reported line items 143
AICL income statement — all reported line items (Rs bn)
Rs bn FY2025 Jan – Dec 2025 FY2024 Jan – Dec 2024 FY2023 Jan – Dec 2023 FY2022 Jan – Dec 2022 FY2021 Jan – Dec 2021
Net Premiums Earned 74.9 57.2 42.0 37.3 32.7
Fees & Commissions Income 0.1 0.1 0.1 0.1 0.1
Investment Income/(Expense) - Net - Insurance 17.6 20.5 16.9 8.8 6.4
Investments & Loans - Business - Gain/(Loss) 1.1 0.1 (0.0) (0.4) —
Investment Income - Gross - Insurance - Total 17.6 20.5 16.9 8.8 6.4
Investment Securities - Business - Gain/(Loss) 1.1 0.1 (0.0) (0.4) —
Revenue from Business-Related Activities - Other - Total 0.1 0.1 0.1 0.1 0.1
Revenue from Business Activities - Total 93.8 78.0 59.0 45.8 39.2
Insurance Claims/Reserves - Total 74.9 67.3 48.5 30.5 25.8
Insurance Benefits Paid - Current 74.9 67.3 48.5 30.5 25.8
Life Insurance Benefits Paid — — — — —
Non-Life Insurance Benefits Paid — — — — —
Selling, General & Administrative Expenses - Total 8.2 6.5 5.7 5.1 4.4
Selling, General & Administrative Expenses - Unclassified 3.6 2.7 2.3 1.9 1.4
Depreciation in Selling, General & Administrative Expenses 0.3 0.2 0.2 0.2 0.2
Amortization of Intangibles in Selling, General & Administrative Expenses 0.1 0.0 0.1 0.0 0.0
Underwriting Expenses 10.2 7.4 5.7 4.9 4.7
Policy Acquisition Costs - Total 10.2 7.4 5.7 4.9 4.7
Other Operating Expense/(Income) - Net (0.3) (0.3) (0.5) (0.2) (0.2)
Other Operating Income - Total 0.5 0.6 0.6 0.4 0.2
Fee & Commission Expense - Insurance 10.2 7.4 5.7 4.9 4.7
Operating Expenses - Total 93.1 80.9 59.4 40.2 34.7
Labor & Related Expenses including Stock-Based Compensation in Selling, General & Administrative Expenses 4.0 3.4 2.9 2.7 2.3
Selling, General & Administrative Expenses - Other - Total 0.2 0.2 0.2 0.2 0.3
Advertising Expense 0.1 0.1 0.1 0.1 0.2
Rental Expense 0.1 0.1 0.0 0.0 0.0
Operating Profit before Non-Recurring Income/(Expense) 0.7 (3.0) (0.5) 5.5 4.5
Other Operating Expense 0.2 0.3 0.1 0.2 0.0
Interest Expense - Net of Capitalized Interest 0.0 0.0 0.0 0.0 0.1
Sale of Tangible & Intangible Fixed Assets - Gain/Loss 0.3 0.0 0.0 0.0 0.0
Equity Earnings/(Loss) - before Taxes including Non-Recurring — — — — —
Other Non-Operating Income/(Expense) - Total — — — — —
Foreign Exchange Gain/(Loss) - Non-Business 0.0 0.0 0.0 0.0 0.0
Normalized Pre-tax Profit 1.0 (2.9) (0.4) 5.5 4.5
Non-Recurring Income/Expense - Total 8.8 11.5 5.4 (2.3) (0.2)
Impairment - Tangible & Intangible Fixed Assets — — — — —
Impairment - Fixed Assets — — — — —
Interest Expense on Capital Financing - Gross — — — — —
Impairment - Financial Investments 0.0 (0.3) 0.0 (0.2) —
Fair Value Adjustments - Investment Property 0.3 0.3 0.3 0.5 0.7
Fair Value Adjustments - Financial Investments 8.5 10.9 5.2 (2.9) (0.9)
Provision for Income Tax Expense- Unclassified — — — — —
Income before Taxes 9.8 8.6 5.0 3.3 4.3
Income Taxes 4.1 3.6 2.3 0.9 1.3
Income Taxes for the Year - Current 3.5 2.6 1.7 1.0 1.0
Income Taxes - Domestic - Current — — — — 1.0
Income Taxes - Other (KFAS/NLST) - Current — — — — 0.0
Income Taxes - Deferred 0.5 1.0 0.6 (0.1) 0.4
Net Income after Tax 5.8 5.0 2.7 2.4 2.9
Income before Discontinued Operations & Extraordinary Items 5.8 5.0 2.7 2.4 2.9
Net Income before Minority Interest 5.8 5.0 2.7 2.4 2.9
Minority Interest 0.2 0.2 0.1 0.0 0.0
Net Income after Minority Interest 5.6 4.8 2.6 2.3 2.9
Income Available to Common Shares 5.6 4.8 2.6 2.3 2.9
Other Comprehensive Income - Starting Line 5.8 5.0 2.7 2.4 —
Other Comprehensive Income - Foreign Currency 0.0 (0.0) 0.6 0.6 —
Other Comprehensive Income - Unrealized Investment Gain/(Loss) 5.1 7.1 3.8 (2.9) —
Other Comprehensive Income - Hedging Gain/(Loss) (0.7) (0.1) 0.0 0.3 —
Other Comprehensive Income - Revaluation of Tangible & Intangible Assets 0.0 (0.0) 0.0 — —
Other Comprehensive Income - Pension Related (0.0) (0.0) 0.1 (0.0) —
Other Comprehensive Income - Net of Tax - Total 4.4 7.0 4.5 (2.0) —
Comprehensive Income before Minority Interest - Total 10.1 11.9 7.2 0.4 —
Comprehensive Income - Attributable to Minority Interest - Total 0.2 0.2 0.1 0.0 —
Comprehensive Income - Attributable to Parent Company Equity Holders - Total 9.9 11.8 7.2 0.3 —
DPS - Common - Gross - Issue - By Period End Date Rs 4.00 3.00 3.00 3.00 3.00
Net Income - Basic - including Extraordinary Items Applicable to Common - Total 5.6 4.8 2.6 2.3 2.9
Income available to Common excluding Extraordinary Items 5.6 4.8 2.6 2.3 2.9
Shares used to calculate Basic EPS - Total mn 350.0 349.9 350.0 350.0 350.0
EPS - Basic - including Extraordinary Items Applicable to Common - Total Rs 15.93 13.71 7.50 6.69 8.41
EPS - Basic - excluding Extraordinary Items Applicable to Common - Total Rs 15.93 13.71 7.50 6.69 8.41
EPS - Basic - excluding Extraordinary Items - Normalized - Total Rs (9.23) (19.26) (8.02) 13.16 8.97
Allocated Net Income including Extraordinary Items Applicable to Common - Issue Specific 5.6 4.8 2.6 2.3 2.9
Earnings Allocation Factor - Basic - Issue Specific 1.00× 1.00× 1.00× 1.00× 1.00×
Shares used to calculate Basic EPS - Issue Specific mn 350.0 349.9 350.0 350.0 350.0
EPS - Basic - including Extraordinary Items Applicable to Common - Issue Specific Rs 15.93 13.71 7.50 6.69 8.41
EPS - Basic - excluding Extraordinary Items Applicable to Common - Issue Specific Rs 15.93 13.71 7.50 6.69 8.41
EPS - Basic - excluding Extraordinary Items - Normalized - Issue Specific Rs (9.23) (19.26) (8.02) 13.16 8.97
EPS - Basic from Discontinued Operations & Extraordinary Items Rs 0.00 0.00 0.00 0.00 0.00
Comprehensive Earnings Per Share - Basic - Issue Specific Rs 28.41 33.63 20.45 0.96 —
Dilution Adjustment — — — — —
Net Income - Diluted - including Extraordinary Items Applicable to Common - Total 5.6 4.8 2.6 2.3 2.9
Diluted Income available to Common excluding Extraordinary Items 5.6 4.8 2.6 2.3 2.9
Shares used to calculate Diluted EPS - Total mn 350.0 349.9 350.0 350.0 350.0
EPS - Diluted - including Extraordinary Items Applicable to Common - Total Rs 15.93 13.71 7.50 6.69 8.41
EPS - Diluted - excluding Extraordinary Items Applicable to Common - Total Rs 15.93 13.71 7.50 6.69 8.41
EPS - Diluted - excluding Extraordinary Items - Normalized - Total Rs (9.23) (19.26) (8.02) 13.16 8.97
Allocated Diluted Net Income including Extraordinary Items Applicable to Common - Issue Specific 5.6 4.8 2.6 2.3 2.9
Earnings Allocation Factor - Diluted - Issue Specific 1.00× 1.00× 1.00× 1.00× 1.00×
Shares used to calculate Diluted EPS - Issue Specific mn 350.0 349.9 350.0 350.0 350.0
EPS - Diluted - including Extraordinary Items Applicable to Common - Issue Specific Rs 15.93 13.71 7.50 6.69 8.41
EPS - Diluted - excluding Extraordinary Items Applicable to Common - Issue Specific Rs 15.93 13.71 7.50 6.69 8.41
EPS - Diluted - excluding Extraordinary Items - Normalized - Issue Specific Rs (9.23) (19.26) (8.02) 13.16 8.97
EPS - Diluted from Discontinued Operations & Extraordinary Items Rs 0.00 0.00 0.00 0.00 0.00
Comprehensive Earnings Per Share - Diluted - Issue Specific Rs 28.41 33.63 20.45 0.96 —
DPS - Common - Gross - Issue - By Announcement Date Rs 3.50 3.00 3.00 3.00 2.75
DPS - Common - Net - Issue - By Announcement Date Rs 3.15 2.70 2.70 2.70 2.48
Earnings before Interest & Taxes (EBIT) 0.7 (3.0) (0.5) 5.5 4.5
Earnings before Interest, Taxes, Depreciation & Amortization (EBITDA) 1.2 (2.6) (0.1) 5.9 4.8
Earnings before Interest, Taxes, Depreciation & Amortization (EBITDA) and Operating Lease Payments 1.2 (2.6) (0.1) 5.9 4.8
Depreciation & Amortization - Supplemental 0.5 0.3 0.3 0.3 0.3
Depreciation Expense - Total - Supplemental 0.4 0.3 0.3 0.3 0.3
Depreciation - Financial Lease Right-of-Use Assets - Supplemental 0.1 0.0 0.0 0.1 0.1
Amortization - Total - Supplemental 0.1 0.0 0.1 0.0 0.0
Intangible Amortization - Other - Supplemental 0.1 — — — 0.0
Depreciation, Depletion & Amortization - Total 0.5 0.3 0.3 0.3 0.3
Depreciation - Total 0.4 0.3 0.3 0.3 0.3
Amortization of Intangible Assets including Goodwill - Total — — — — —
Amortization of Intangible Assets excluding Goodwill - Total 0.1 0.0 0.1 0.0 0.0
Labor & Related Expenses - Total 4.0 3.4 2.9 2.7 2.3
Labor & Related Expenses - Supplemental 4.0 3.4 2.9 2.7 2.3
Auditor Fees 0.0 0.0 0.0 0.0 0.0
Audit-Related Fees 0.0 0.0 0.0 0.0 0.0
Tax Fees — — — — 0.0
Fees - Other 0.0 0.0 0.0 0.0 —
Normalized after Tax Profit (3.0) (6.6) (2.7) 4.7 3.1
Normalized Net Income from Continuing Operations (3.0) (6.6) (2.7) 4.7 3.1
Normalized Net Income - Bottom Line (3.2) (6.7) (2.8) 4.6 3.1
Earnings before Interest & Taxes (EBIT) - Normalized 0.3 (4.1) (1.7) 4.7 4.1
Earnings before Interest, Taxes, Depreciation & Amortization (EBITDA) - Normalized 0.8 (3.7) (1.4) 5.0 4.4
Depreciation of Financial Lease Right-of-Use Assets 0.1 0.0 0.0 0.1 0.1
Interest Expense on Financial Lease Liabilities - Supplemental — — — — —
Rental/Operating Lease Expense 0.1 0.1 0.0 0.0 0.0
Advertising Expenses - Supplemental 0.1 0.1 0.1 0.1 0.2
Interest Expense 0.0 0.0 0.0 0.0 0.1
Investment Income - Insurance 17.6 20.5 16.9 8.8 6.4
Losses, Benefits & Adjustments - Insurance 74.9 67.3 48.5 30.5 25.8
Operating Expenses 93.1 80.9 59.4 40.2 34.7
Selling, General & Administrative Expenses excluding Research & Development Expenses 8.2 6.5 5.7 5.1 4.4
Total Claim & Loss Expense 74.9 67.3 48.5 30.5 25.8
Underwriting & Commissions 10.2 7.4 5.7 4.9 4.7
Underwriting Expenses - Insurance 7.9 6.2 5.2 4.8 4.2
Income before Taxes & Provision for Loan Losses 9.8 8.6 5.0 3.3 4.3
DPS - Common - Gross - Issue - By Payable Date Rs 3.50 3.00 3.00 3.00 2.75
DPS - Common - Gross - Issue - By Ex Date Rs 3.50 3.00 3.00 3.00 2.75
Tax Adjusted Operating Income 5.6 4.8 2.6 2.4 3.0
Underwriting Expenses minus Losses, Benefits & Adjustments - Insurance (67.0) (61.1) (43.3) (25.6) (21.6)
Operating Expenses excluding Non-Cash Charges - Total 92.6 80.6 59.1 39.9 34.4
Premiums Earned - Total 75.1 57.4 42.1 37.4 32.7
Losses, Benefits & Adjustments - Total 85.2 74.7 54.2 35.4 30.5
Income Available to Common Shares before Depreciation & Amortization 6.0 5.1 3.0 2.7 3.3
Fixed Charges 0.0 0.0 0.0 0.0 0.1
Estimated Tax Rate 0.29× 0.29× 0.29× 0.29× 0.29×
Total Common & Spl DPS -Gross - Issue - By Announcement Date Rs 3.50 3.00 3.00 3.00 2.75

Every line the company reported, in the original order and wording, without regrouping or signs changed.