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Profits of nonlife insurers in Pakistan up 140% in Q2


Pakistani nonlife insurers' profits increased 140% year on year in the second quarter of 2015 due to higher investment income and underwriting business, The Express Tribune reported.

A report by an analyst showed that the combined profit after tax of 19 listed nonlife insurers totaled 3.9 billion Pakistani rupees ($37.4 million) in the second quarter.

Insurers' investment income increased 139% to PKR 3.7 billion ($35.5 million), the analyst said.

Nonlife insurance sector's net premiums increased 15% to PKR 7.2 billion ($69.1 million) and claims grew by 6% to PKR 3.5 billion ($33.6 million) during the quarter.

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