Author Topic: AICL -- Adamjee Insurance  (Read 255818 times)

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Offline Farzooq

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Re: AICL -- Adamjee Insurance
« Reply #1279 on: March 22, 2018, 09:29:32 AM »
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Re: AICL -- Adamjee Insurance
« Reply #1279 on: March 22, 2018, 09:29:32 AM »

Offline Farzooq

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Re: AICL -- Adamjee Insurance
« Reply #1280 on: May 23, 2018, 12:07:17 PM »
AICL: TP revised down to Rs76, 'Buy'
May 23, 2018 (JS Research)

We reiterate our 'Buy' rating on Adamjee Insurance (AICL) with a revised Target Price of Rs76 (Rs83 previously) as we update our investment case on the stock.
We flag the company's portfolio accounts for 50% of its valuations, where MCB Bank (MCB) alone accounts for 24% of company's total valuations. 
In 1Q2018, AICL's net earnings clocked in 3% YoY lower at Rs1.89/share. However, Underwriting profits witnessed 34% YoY increase on account of higher Net premium and improving Net Claims ratio.   
On Investment income front, AICL's dividend income declined by 30% YoY, taking overall Investment income down by 21% YoY.
We value Adamjee Life Assurance Company Ltd at Rs28 under relative valuation method, where AICL stake adjusted value computes to Rs21.
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Offline Farzooq

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Re: AICL -- Adamjee Insurance
« Reply #1281 on: August 29, 2018, 09:30:22 PM »
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