IGIL

⚡ Flash Summary

IGI Life’s report for the nine months ended September 30, 2025, reveals a period of growth and profitability, though challenges persist. The company experienced a notable increase in gross premium written, rising to Rs. 11,327 million from Rs. 10,058 million in the previous year, demonstrating a solid growth trajectory. Profit after tax also saw an increase, reaching Rs. 239 million compared to Rs. 184 million in 2024. The company’s launch of the Mahaana IGI Islamic Retirement Fund represents a strategic expansion into Islamic finance, enhancing its portfolio and appealing to a broader investor base.

📌 Key Takeaways

• 📈 Gross premium written increased to Rs. 11,327 million, up from Rs. 10,058 million in 2024.
• 💰 Individual life regular premium rose by 17%, reaching Rs. 3,229 million.
• 👨‍👩‍👧‍👦 Group Life premiums grew by 19%, totaling Rs. 1,126 million.
• 🏥 Group Health premiums increased by 31%, amounting to Rs. 2,238 million.
• 💼 Single premium contributions reached Rs. 4,734 million.
• ✅ Profit after tax increased to Rs. 239 million, compared to Rs. 184 million in 2024.
• ☪️ Mahaana IGI Islamic Retirement Fund launched on May 20, 2025.
• 📊 The fund manages a portfolio of Rs 247.573 million.
• ⚖️ Equity Sub Fund allocation: Rs 122.28 million.
• 🏦 Debt Sub Fund allocation: Rs 64.337 million.
• 💸 Money Market Sub Fund allocation: Rs 60.956 million.
• ⚠️ Management is addressing issues related to higher claims and repricing corporate life and health products.
• ✔️ Earnings per share (EPS) increased to Rs 1.40 from Rs 1.08.
• 💲 Break-up value per share increased to Rs 14.93 from Rs 12.72.

🎯 Investment Thesis

Based on the growth in premiums and profitability, a HOLD recommendation appears justified, indicating that the company is performing adequately, but external economic conditions still affect the outlook. The company’s launch into the Islamic finance sector shows positive expansion, but it is too early to determine whether this new fund will significantly increase revenue.