The Board of Directors of EFU General Insurance approved financial accounts, payment of 45 percent final dividend and issue 25 percent bonus shares for the year 2015. The company had already paid 30 percent interim dividend, which will take full year payout to 75 percent.
For the year ended 31st December 2015 the company has posted profit after tax of Rs4,033 million (EPS: Rs25.21) as compared to profit of Rs1,829 million (EPS: Rs11.43), an increase of 120 percent.
This excellent performance can be attributed to a number of factors that include: 1) underwriting income rising to Rs1,533 million from Rs1,316 million, 2) investment income increasing to Rs1,202 million from Rs914 million and 3) reversal of provision for impairment of an associate company amounting to Rs1,987 million.