KARACHI: Jubilee Life Insurance has made a profit of Rs127.3 million in the first quarter of 2013, up by 8.5% from the corresponding three-month period in 2012, according to a notice sent to the Karachi Stock Exchange on Thursday.
Speaking to The Express Tribune, Jubilee Life Insurance Chief Manager for Business Strategy and Special Projects Kashif Naqvi said the rise of 8.5% in the company’s after-tax profit was satisfactory if compared to profits of other life insurance
companies in the same period. “Investment income of almost all insurance companies has dropped over this period. This has a direct impact on a company’s profitability,” he said.
companies in the same period. “Investment income of almost all insurance companies has dropped over this period. This has a direct impact on a company’s profitability,” he said.
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