Adamjee Insurance

31st December 2010

Ruppes in thousands

Assets

Cash and other equivalents

Current and other accounts
Deposits maturing within 12 months
Total
Loans
To employees (recivables)
Investments
Current assets - others
Premiums due but unpaid
Amounts due from other insurers/ reinsurers
Salvage recoveries accrued
Premium and claim reserves retained by cedants
Accrued investment income
Reinsurance recoveries against outstanding claims
Taxation - payments less provision
Deferred commission expense
Prepayments
Sundry receivables

CA
CA
CA

Fixed Assets - Tangible & Intangible

Owned
Land and buildings
Furniture and fixtures
Motor vehicles
Capital work-in-progress
Machinery and equipment
Computers and related accessories
Intangible asset - computer software

FA

CA
CA
CA
CA
CA
CA
CA
CA
CA
CA
CA

NA
NA
NA
NA
NA
NA

Leased
Motor vehicles

NA
NA

TOTAL ASSETS
LIABILITIES
Underwriting provisions
Provision for outstanding claims (including IBNR)
Provision for unearned premium
Commission income unearned
Total underwriting provisions
Deferred liabilities
Deferred taxation
Staff retirement benefits
Creditors and Accruals
Premiums received in advance
Amounts due to other insurers / reinsurers
Accrued expenses
Other creditors and accruals
Borrowings
Liabilities against assets subject to finance lease
Other liabilities
Unclaimed dividends

TOTAL LIABILITIES
EQUITY
Share capital and reserves
Authorised share capital
Paid-up share capital
Share Holder Equity
Retained earnings
Reserves

CL
CL
cl

CL
Nl
cl
cl
cl
CL
CL
CL
cl

TOTAL EQUITY
TOTAL EQUITY AND LIABILITIES

2010

Revenue account
Net premium revenue
Net claims
Expenses
Net commission
Underwriting result
Investment income
Rental income
Other income

E
E
E

General and administration

expenses
E
Exchange (loss) / gain
E
Finance charge on lease liabilities
E
Profit before tax
Provision for taxation
E
Profit after tax
Profit and loss appropriation account
Balance at the commencement of the year
Profit after tax for the year
Final dividend for the year ended 31 December 2009
Rupees 1.5/- per share (2008: Rupee 1/- per share) E
@ 10 % (2008:10%)
Interim dividend @ 10% (Rupee 1/- per share)
[2009: Rupees 1.5/- per share]

E
E

Balance unappropriated profit at the end of the year

Earnings per share - basic and diluted (Note 24)

Total Expenses
Current Ratio
Cash Ratio
Solvency Ratios
Debt to Total Assets
Debt to equity
Long-term debt ratio
Profitability ratios
return on equity
return on total asset
net profit margin
Total Assets Turnover (Times)

Trend Analysis
LIQUIDITY RATIO
current ratio
DEBT RATIO
debt to equity ratio
debt to total asset ratio
ACTIVITY RATIO
Total asset turnover
PROFITIBILTY RATIO
return on equity
return on total asset
net profit margin

Adamjee Insurance
Balance Sheet

31st December 2010

Ruppes in thousands
31-Dec-10
31-Dec

2008

2007

2006

59,393
1,060,597
1,584,827
2,704,817

61,740
686,915
1,408,449
2,157,104

41,622
483,534
1,198,950
1,724,106

133,735
600,661
219,801
954,197

79,051
580,638
223,539
883,228

17,668
9,406,998

28,383
9,658,030

26,852
7,576,749

27,312
8,132,102

26,259
4,502,776

4,546,222
993,584
99,636
23,252
33,445
6,253,202
43,697
512,222
1,829,112
317,071
26,780,926

3,818,046
716,962
115,753
24,235
41,307
1,845,562
1,485
399,884
1,548,922
207,108
22,719,885

3,449,898
535,059
228,147
28,682
39,465
2,188,101
132,876
414,701
1,057,783
202,578
17,604,997

3,203,751
255,570
205,404
32,926
31,009
2,792,464
157,153
413,543
1,519,241
272,878
17,997,550

2,053,498
220,386
90,809
36,506
28,973
1,262,976
297,545
311,942
813,618
251,456
10,779,972

281,472
62,289
197,252

174,660
29,580
190,681
373,223
49,324
38,269

181,055
22,373
233,625
64,846
220,266
42,940
3,308

33,059
23,312
198,628

316,190
52,270
48,475

177,793
27,052
228,869
nil
395,443
65,032
45,721

44,059
38,472
2,243

143,443

194,576

19,354

1,101,391
27,886,735

1,050,313
21,613,094

939,910
18,544,907

768,413
18,765,963

359,127
11,139,099

7,980,409
5,017,435
305,434
13,303,278

3,575,903
4,405,817
228,439
8,210,159

4,562,553
4,014,822
176,500
8,753,875

5,022,620
4,252,005
236,039
9,510,664

3,208,084
2,974,462
113,575
6,296,121

68,353
17,326

87,834
13,581

9,166

3,688

3,085

75,329
1,581,965
147,995
1,520,732

91,147
948,716
139,319
1,166,287

101,247
137,380
79,626
994,367

125,682
579,621
79,174
785,885

86,901
248,565
85,758
607,512

107,637

148,911

29,121
3,531,132

25,965
2,608,179

25,055
10,091,550

29,502
11,110,528

13,265
7,348,141

3,548,458

2,621,760

1,346,841

1,603,552

1,055,105

1,500,000
1,237,045
2,737,045
8,634,106
1,163,848

1,500,000
1,124,586
2,624,586
8,520,042
1,136,547

1,500,000
1,022,351
2,522,351
963,123
7,421,840

1,500,000
1,022,351
2,522,351
963,123
6,629,396

1,500,000
1,022,351
2,522,351
1,802,399
963,123

10,019

12,534,999
11,034,999

12,281,175
10,781,175

10,907,314
8,444,191

10,114,870
7,651,747

5,287,873
3,787,873

6,883,397
4,833,516
1,254,811
514,564
280,506
779,089
1,048
171,239
1,231,882

6,806,897
4,452,839
1,174,577
500,224
679,257
2,479,419
476
154,265
3,313,417

7,488,144
5,173,152
1,206,563
741,367
367,062
1,098,050
494
183,594
1,649,200

5,531,818
3,915,091
1,054,978
442,498
119,251
4,486,366
494
71,166
4,677,277

5,280,128
3,354,851
923,120
520,218
481,939
1,515,259
494
119,704
2,117,396

634,922
1,396
18,966
576,598
57,682
518,916

710,804
4,188
11,635
2,595,166
160,683
2,434,483

511,727
38,404
-

398,367
6,533
558
4,284,885
83,635

440,926
9,159
882
1,684,747
67,333

8,520,042
518,916

6,458,717
2,434,483

5,666,273
1,099,150

1,802,399
4,201,250

1,386,904
1,576,501

168,688

102,235

153,353
1,099,150

184,023

112,459

102,235

123,705

168,688

153,353

153,353

76,727

90,876

8,634,106
Rupees
4.19
7,720,709
8
1

8,520,042
Rupees
(Restated)
19.68
7,383,920

6,458,717

5,666,273

1,802,399

10.75

41.09

15.42

8,016,242

9 1.744528541
1
0

6,232,503

5,398,206

2 1.467033907
0
0

0.12724537 0.12130424 0.072625924 0.085450025 0.094720857

0.32156396 0.24317943 0.159499116 0.209566783 0.278548146
2737046
0.04139737
0.01860799
0.07538662
0.27685955

0.19822883
0.11263926
0.35764945
0.34164104

0.100771831
0.059269642
0.146785372
0.432261105

0.415353831
0.223876068
0.759470033
0.332117409

0.298135186
0.141528592
0.298572497
0.484617831

87.0648592 499.333445 107.6959542 110.4176599

100

132.233208 152.464438 76.10896825 75.2353896

104.89771 167.026093 84.9922794 90.21247019

100
100

81.0381417 79.0358049 130.1531008 68.53181767

100

20.8836272 196.710561 24.26168325 139.3172796

16.5199827 190.04546 26.47430907 158.1843386
21.0783531 243.654698 19.32734212 254.3670437

100
100
100