Loading...

Financial Reports

Statement of Comprehensive Income – Life Insurance Business

Company
For the Year Ended 31 December 2015 Rs. ‘000 2014 Rs. ‘000 Change %
Net income 19,887,549 18,541,231 7.26
Gross written premiums 13,456,828 12,002,524 12.12
Premiums ceded to reinsurers (310,054) (287,305) 7.92
Net written premiums 13,146,773 11,715,219
Fees and commission income 90,377 90,707 (0.36)
Investment income 6,474,428 6,524,269 (0.76)
Realised gains 61,172 140,762 (56.54)
Fair value gains and losses 114,798 70,274 63.36
Other revenue 6,740,775 6,826,012 (1.25)
Gross benefits and claims paid (6,109,171) (5,001,999) 22.13
Claims ceded to reinsurers 152,426 108,152 40.94
Gross change in contract liabilities (7,135,304) (7,256,468) (1.67)
Net benefits and claims (13,092,049) (12,150,315) 7.75
Acquisition cost (1,610,178) (1,389,842) 15.85
Other operating and administrative expenses (2,994,099) (2,673,584) 11.99
Finance cost (10,214) (29,404) (65.26)
Total benefits, claims and other expenses (17,706,540) (16,243,145) 9.01
Profit before tax 2,181,009 2,298,086 (5.09)
Income tax expense (120,963) (935,099) (87.06)
Profit for the year 2,060,046 1,362,987 51.14
Other comprehensive income
Net gain/(loss) on available-for-sale assets (98,564) 234,941
Actuarial gain on defined benefit plans (160,867) (194,892)
Income tax relating to components of other comprehensive income (9,053) (74,081)
Other comprehensive income for the year, net of tax (268,484) (34,032)
Total comprehensive income for the year, net of tax 1,791,562 1,328,955