Century Insurance : TRANSMISSION OF HALF YEARLY FINANCIAL STATMENTS FOR THE PERIOD ENDED 30 JUNE 2023

Century Insurance Company Limited

Half Yearly Report June 2023

(Un-audited)

Century Insurance at a Glance

• Century Insurance is a Lakson Group Company.
• Operating since 1989, dealing in all areas of general insurance and takaful business.
• One of the premier general insurance companies of Pakistan.
• Rated "AA" with a stable outlook by VIS Credit Rating Co. Limited, signifying a 'very strong capacity to meet policyholders' and contractual obligations.
• Total equity in excess of Rs. 2.4 billion.
• Twice awarded 'Top 25 Companies Award' by the Karachi Stock Exchange.
• Very strong reinsurance treaty arrangements with highly rated international reinsurers.
• Broad client base consisting of individuals as well as some of the most prestigious local and multinational companies.

Table of Contents

Financial Statement

Conventional Operations

Vision and Mission	2
Corporate Information	3
Directors' Review	4
Directors' Review (Urdu)	7
Report on review of Condensed Interim Financial Statements	8
Condensed Interim Statement of Financial Position	10
Condensed Interim Profit and Loss Account (Un-audited)	12
Condensed Interim Statement of Comprehensive Income	13
Condensed Interim Statement of Cash Flows	14
Condensed Interim Statement of Changes in Equity	16
Notes to and Forming Part of the Condensed Interim Financial Statements	17

Financial Statement

Window Takaful Operations

Report on review of Condensed Interim Financial Statements	38
Condensed Interim Statement of Financial Position	40
Condensed Interim Profit and Loss Account (Un-audited)	42
Condensed Interim Statement of Comprehensive Income	43
Condensed Interim Statement of Cash Flows	44
Condensed Interim Statement of Changes in Fund	45
Notes to and Forming Part of the Condensed Interim Financial Statements	47

2 Half Year Report June 2023

Corporate information

Board of Directors	Share Registrar
Mr. Iqbal Ali Lakhani - Chairman	M/s. FAMCO Associates (Pvt) Ltd.
Mr. Amin Mohammed Lakhani	8-F, Near Hotel Faran, Nursery,
Ms. Anushka Lakhani	Block-6, P.E.C.H.S., Shahra-e-Faisal,
Mr. Aftab Ahmad	Karachi.
Mr. Jawed Akhlaq	Tel: [phone]
Mr. Atiq Anwar Mahmudi	Fax: [phone]
Mr. Mohammad Hussain Hirji - Chief Executive	Email: [e-mail]
	Website: www.famco.com.pk
Advisor
Mr. Sultan Ali Lakhani	Bankers
	Al Baraka Bank (Pakistan) Limited
Chief Financial Officer	Askari Bank Limited
Mr. Sabza Ali Pirani	Bank Alfalah Limited
	Bank Islami Pakistan Limited
Company Secretary	Dubai Islamic Bank Pakistan Limited
Mr. Mansoor Ahmed	Habib Bank Limited
	Habib Metropolitan Bank Limited
Audit Committee	JS Bank Limited
Mr. Atiq Anwar Mahumdi - Chairman	MCB Islamic Bank Limited
Mr. Amin Mohammed Lakhani	Meezan Bank Limited
Mr. Aftab Ahmad	NRSP Microfinance Bank Limited
	Silkbank Limited
Investment Committee	Soneri Bank Limited
Mr. Iqbal Ali Lakhani - Chairman	Standard Chartered Bank (Pakistan) Limited
Mr. Aftab Ahmad	Telenor Microfinance Bank Limited
Mr. Mohammad Hussain Hirji	U Microfinance Bank Limited
Mr. Sabza Ali Pirani	United Bank Limited
Ethics, Human Resource &	Registered & Corporate Office
Remuneration Committee	Lakson Square, Building No. 2,
Mr. Jawed Akhlaq - Chairman	Sarwar Shaheed Road, Karachi-74200.
Mr. Amin Mohammed Lakhani
Mr. Mohammad Hussain Hirji	Head Office
	11th Floor, Lakson Square, Building No. 3,
External Auditors	Sarwar Shaheed Road, Karachi-74200.
M/s. BDO Ebrahim & Co
Chartered Accountants	Website: www.cicl.com.pk
	UAN: 111-111-717
	NTN: 0710008-6

Century Insurance Company Limited	3