reports
- Gowtham Gunasekaran
JKSB: Quarterly Highlights: People's Insurance PLC (PINS): 2QCY19
PINS reported a 41% YoY increase in earnings for 2QCY19, mainly due to significantly improved underwriting results (+1205% YoY) and increased total other revenue (+27% YoY) despite sharply higher income tax expenses (+190% YoY). A 10% YoY growth in GWP amid a marginal increase in net claims (+2% YoY) drove underwriting results. The growth in total other revenue was largely attributable to the growth in interest & dividend income (+18% YoY). Growth in GWP (+13% YoY) during 1HCY19 supported mainly...
- Lourdeena Kudaliyanage
JKSB Quarterly Highlights_People's Insurance PLC (PINS)_1QCY17
PINS reported a significant 69% YoY increase in profit for 1QCY17, supported mainly by healthy growth in premium revenue (+12.6% YoY), coupled with sharply higher interest & dividend income (+57% YoY) - stemming from the investment of IPO funds of ~Rs. 750mn in a rising interest rate environment - and lower fair value losses on the company’s equity investment portfolio (which is heavily dominated by banking sector stocks which have seen strong price appreciation). While PINS’s motor claims r...
- Lourdeena Kudaliyanage
JKSB Quarterly Highlights_ People’s Insurance PLC (PINS) _3QCY16
PINS reported a significant 103% YoY increase in profit for 3QCY16, with a steeper-than-expected drop in underwriting profitability (-100% YoY) being offset by 1) a 73% YoY increase in interest and dividend income, supported by investment of IPO funds of ~Rs. 750mn in a rising interest rate environment; and 2) healthy fair value gains on the company’s equity investment portfolio, which is heavily dominated by banking sector stocks. While below-industry GWP growth has resulted in a slight loss ...
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