Adamjee Insurance Company Limited

• AICL was founded in 1960 by Adamjee Group

• Later It was acquired by the Mansha group.
• It is the largest general insurance company in Pakistan.
• It is a public listed company with their most shares held by
the associated companies and general public.
• The company offers insurance to these sectors
• Fire and Property
• Marine Aviation and Transport
• Motor
• Accident & Health
• Miscellaneous Insurance
• AS you can see that the main Revenue that is the Gross
Premium is generated from the Motor sector and then
from the Fire sector.
• Whereas the Net Claim are mainly from Motors
• Gross premium for the year is the highest premium
received till 2018 that is 20.3 Billions
• The net Premium and net claims are 13.8 and 8.3 billions
respectively
• And the Net premium and Net claims have increased by
19.7% and 12.8%
• The major Investments for the year are that The company
has invested in the shares of its related parties. That is that
they bought more than 3.3 Million share of D G Khan
cement and also 30 million shares of Hyundai Nishat.
• Adamjee also invested in other shares, the major junk is of
Allied Bank around 4.4 Million shares
• Profit before tax is increased by around 2.5%

Net Claims/Net premium 60.7

Net Profit after Tax/Net Premium 9
Mgt expense/Net premium 24.9
Commission/Net Premium 9.3
Current Ratio 1.6
EPS 3.54
Dividend per Share 2
Claims incured/Net Premium 60.7 64.4
Net Profit after Tax/Net Premium 9 10.6
Management Expenses/Net Premium 24.9 23.3
Commission/Net Premium 9.3 9.4
Earning Per Share 3.54 3.49
Cash Dividend 700 1400
Dividend per Share 2 4
Current Ratio 1.6 1.8
Total Assest/Net Worth 2.43 2.33

• 2018 has been a good year for the Company. The business
is a going concern

• As we know Adamjee Life is a subsidiary of Adamjee

General and also an associate of IVM Inter-surer BV. They
have around 74% and 26% share holding in Adamjee Life
respectively but the management of IVM have decided to
exit Pakistan market and offered its stake of around 26%
to Adamjee General.

• Prospect for 2019 are CPEC projects worth $45.6 billion

having the major chunk of 24 Energy Projects, it is
expected that the Fire, engineering and marine classes of
general insurance will grow in the future.