Jubilee Life earnings rise 19.3%

KARACHI:

Jubilee Life Insurance made a profit of over Rs1 billion in the first nine months of 2015, 19.3% higher than the earnings of Rs859.7 million in the corresponding period of the preceding year.

Revenues of the company, which include premiums as well as investment income, surged on a year-on-year basis by 37.3% during the period under review, the company’s financial accounts released on Thursday show. Expenses also surged 38.6% over the same period.

Jubilee Life has recently started its Islamic insurance window operations, with an expected gestation period of three years because it is using its existing infrastructure to sell Islamic products. Otherwise, the average gestation period for a stand-alone Islamic insurance company is between eight and 12 years, Jubilee Insurance CEO Javed Ahmed told The Express Tribune in a recent interview.

Published in The Express Tribune, October 23^rd, 2015.

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