ATIL

⚡ Flash Summary

Atlas Insurance Limited (ATIL) announced its financial results for the nine-month period ended September 30, 2025. The company declared an interim cash dividend of Rs. 2.50 per share, which translates to 25%. ATIL’s underwriting results showed a profit of PKR 878.62 million, while the profit after tax for the period stood at PKR 1,301.41 million, resulting in earnings per share of Rs. 8.71. The board has also decided to keep the bonus and right shares as Nil.

📌 Key Takeaways

• 💰 Interim cash dividend declared at Rs. 2.50 per share (25%).
• ❌ No bonus shares declared.
• ❌ No right shares declared.
• 📈 Net insurance premium increased to PKR 2,539.69 million from PKR 2,091.92 million YoY.
• ✅ Underwriting results showed a profit of PKR 878.62 million.
• 📊 Investment income increased to PKR 1,182.61 million.
• 💸 Profit before tax was PKR 2,157.62 million.
• 📉 Income tax expense was PKR 856.21 million.
• ✅ Profit after tax stood at PKR 1,301.41 million.
• ⭐ Earnings per share (EPS) reached Rs. 8.71.
• 🏦 Total Assets: PKR 25,119.76 million.
• 🏢 Total Equity: PKR 10,638.53 million.

🎯 Investment Thesis

Based on the current financial performance and the declared dividend, a HOLD recommendation is appropriate for ATIL. The company demonstrates profitability and growth potential. However, a more detailed valuation analysis and consideration of market conditions are necessary before making a BUY recommendation. A price target of PKR 100.00 with a time horizon of 12 months.

⚡ Flash Summary

Atlas Insurance Limited (ATIL) reported unaudited accounts for the nine-months period ended September 30, 2025. The company underwrote gross premium, including Takaful contributions, of Rs. 7,007 million, an 11% increase compared to Rs. 6,291 million in the same period last year. Net premium increased by 21% to Rs. 2,540 million. Despite a decline in other income, profit before tax increased slightly by 1% to Rs. 2,158 million, with profit after tax rising to Rs. 1,301 million.

📌 Key Takeaways

• ⬆️ Gross premium & contribution increased by 11% from Rs. 6,291 million to Rs. 7,007 million.
• ⬆️ Net premium increased by 21% from Rs. 2,092 million to Rs. 2,540 million.
• ⬆️ Underwriting profit increased by 12% from Rs. 783 million to Rs. 879 million.
• ⬆️ Investment income increased by 9% from Rs. 1,089 million to Rs. 1,183 million.
• ⬇️ Other income decreased from Rs. 209 million to Rs. 95 million due to reduced returns on bank deposits.
• ⬆️ Profit before tax increased by 1% from Rs. 2,134 million to Rs. 2,158 million.
• ⬆️ Profit after tax increased slightly from Rs. 1,291 million to Rs. 1,301 million.
• ➡️ Earnings per share (basic and diluted) increased slightly from Rs. 8.64 to Rs. 8.71.
• ⬆️ Total Assets increased from 19,489.733 million to 25,119.757 million.
• ⬆️ Total Equity increased from 8,167.386 million to 10,638.532 million.
• Pakistan’s economy shows signs of cautious optimism after macro stabilization.
• Atlas Insurance focused on operational efficiency and technology transformations.
• Company emphasizes adapting to a changing economic and regulatory landscape.

🎯 Investment Thesis

HOLD. Atlas Insurance shows moderate growth and profitability, but the decline in other income is concerning. The company operates in a changing economic landscape and faces sector specific risks. Current price seems appropriate, with slight chance of upside if other income can be restored.