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The Market ! => Pak Equities => Topic started by: Toshi on October 10, 2008, 01:30:25 PM

Title: AICL -- Adamjee Insurance
Post by: Toshi on October 10, 2008, 01:30:25 PM
All About Adamjee Insurance
Title: Re: AICL -- Adamjee Insurance
Post by: um@ir on July 23, 2009, 11:57:32 AM


(http://img505.imageshack.us/img505/1392/aicl.th.png) (http://img505.imageshack.us/i/aicl.png/)


I initiate a buy CALL!!! on "AICL" with immediate target price of around 104.53 After which it can test around 120.
Title: Re: AICL -- Adamjee Insurance
Post by: Honda 125 on July 23, 2009, 12:23:26 PM
Bought on ur call. With stoploss of 97.43
Title: Re: AICL -- Adamjee Insurance
Post by: 007 on July 23, 2009, 04:30:07 PM
thanks umair sb, but i got the message late

will try entry tommorrow

thanks a lot
Title: Re: AICL -- Adamjee Insurance
Post by: Honda 125 on July 24, 2009, 11:16:00 AM
Bought on ur call. With stoploss of 97.43

Great Call sold @ 104.50
Title: Re: AICL -- Adamjee Insurance
Post by: Admin on July 24, 2009, 11:40:48 AM

good buy call
Title: Re: AICL -- Adamjee Insurance
Post by: Admin on July 25, 2009, 12:06:53 PM
(http://i229.photobucket.com/albums/ee214/farzooq/aicl.gif)

aicl has given a breakout with volumes
more upside can b seen in aicl from current levels
Title: Re: AICL -- Adamjee Insurance
Post by: MAR on August 10, 2009, 01:09:47 PM
Friends when do we expect a rally in this.

Mr Farzooq kindly give your calculated insight.
Title: Re: AICL -- Adamjee Insurance
Post by: Admin on August 10, 2009, 01:14:50 PM
Friends when do we expect a rally in this.

Mr Farzooq kindly give your calculated insight.

aicl is hold at the moment
will break out on closin above resistance of 110
Title: Re: AICL -- Adamjee Insurance
Post by: Admin on August 11, 2009, 11:19:29 AM
Friends when do we expect a rally in this.

Mr Farzooq kindly give your calculated insight.

aicl is hold at the moment
will break out on closin above resistance of 110

107 now another move to test 110

Title: Re: AICL -- Adamjee Insurance
Post by: Admin on August 15, 2009, 12:45:31 PM
(http://i229.photobucket.com/albums/ee214/farzooq/aicl-1.gif)

in pressure about to break its support at 98.5
Title: Re: AICL -- Adamjee Insurance
Post by: msohail on August 25, 2009, 11:06:42 AM
in pressure about to break its support at 98.5
, anything new in this ??????????????
Title: Re: AICL -- Adamjee Insurance
Post by: Admin on August 25, 2009, 11:49:49 AM
in pressure about to break its support at 98.5
, anything new in this ??????????????

it gave a buy signal on fridays close
http://pakinvestorsguide.com/index.php/topic,224.msg3841.html#msg3841
Title: Re: AICL -- Adamjee Insurance
Post by: Admin on August 25, 2009, 12:03:01 PM
AICL: 1HCY09 Result Preview       Buy

Adamjee Insurance Ltd. (AICL) is scheduled to announce its 1HCY09 result tomorrow, August 26, 2009. We expect AICL to post NPAT of PkR514mn (EPS-4.57) for 1HCY09 compared to NPAT of PkR2,998mn (EPS-PkR26.66) in the same period last year. This translates into a decline of 83%YoY.
Title: Re: AICL -- Adamjee Insurance
Post by: MAR on August 25, 2009, 01:20:11 PM
AICL: 1HCY09 Result Preview       Buy

Adamjee Insurance Ltd. (AICL) is scheduled to announce its 1HCY09 result tomorrow, August 26, 2009. We expect AICL to post NPAT of PkR514mn (EPS-4.57) for 1HCY09 compared to NPAT of PkR2,998mn (EPS-PkR26.66) in the same period last year. This translates into a decline of 83%YoY.


Sir, what is the catch here a decline is being expected that too a hefty 83%... and Rating is BUY ??? How is it justified ?
Title: Re: AICL -- Adamjee Insurance
Post by: Admin on August 25, 2009, 01:22:56 PM
AICL: 1HCY09 Result Preview       Buy

Adamjee Insurance Ltd. (AICL) is scheduled to announce its 1HCY09 result tomorrow, August 26, 2009. We expect AICL to post NPAT of PkR514mn (EPS-4.57) for 1HCY09 compared to NPAT of PkR2,998mn (EPS-PkR26.66) in the same period last year. This translates into a decline of 83%YoY.


Sir, what is the catch here a decline is being expected that too a hefty 83%... and Rating is BUY ??? How is it justified ?

akd todays rpt
please check todays rpts
Title: Re: AICL -- Adamjee Insurance
Post by: Admin on August 26, 2009, 01:35:21 PM
eps 5.18
Title: Re: AICL -- Adamjee Insurance
Post by: Admin on August 26, 2009, 01:38:19 PM
26-AUG-09 AICL Adamjee Insurance FINANCIAL RESULT FOR THE HALF YEAR ENDED 30/06/2OO9
26-AUG-09 AICL Adamjee Insurance DIVIDEND = 15%(i)
26-AUG-09 AICL Adamjee Insurance PROFIT/LOSS BEFORE TAXATION RS. IN MILLION 762.399
26-AUG-09 AICL Adamjee Insurance PROFIT/LOSS AFTER TAXATION RS. IN MILLION 582.529
26-AUG-09 AICL Adamjee Insurance EPS = 5.18
26-AUG-09 AICL Adamjee Insurance BOOK CLOSURE FROM 29/09/2009
26-AUG-09 AICL Adamjee Insurance BOOK CLOSURE TO 05/10/2009
Title: Re: AICL -- Adamjee Insurance
Post by: MAR on September 02, 2009, 12:14:19 PM


Farzooq sb , what is near term target & short-term targets.....wat are technicals suggesting for today based on yesterday's break-out
Title: Re: AICL -- Adamjee Insurance
Post by: Admin on September 02, 2009, 12:31:07 PM


Farzooq sb , what is near term target & short-term targets.....wat are technicals suggesting for today based on yesterday's break-out

target 110
Title: Re: AICL -- Adamjee Insurance
Post by: Admin on September 03, 2009, 03:06:11 PM

buy on dip near 100 with stoploss at 98
Title: Re: AICL -- Adamjee Insurance
Post by: um@ir on September 09, 2009, 03:23:12 PM
AICL also closed higher on the back of withdrawal of proposed amendments in insurance ordinance (increase in Capital requirement) giving some breathing space to the sector.
Title: Re: AICL -- Adamjee Insurance
Post by: MAR on September 15, 2009, 03:52:21 PM
AICL also closed higher on the back of withdrawal of proposed amendments in insurance ordinance (increase in Capital requirement) giving some breathing space to the sector.
umair bhai can we expect a rally b4 xdiv date or shud one move out at current levels
farzooq sb suggest technicals pls
Title: Re: AICL -- Adamjee Insurance
Post by: Admin on September 15, 2009, 04:08:28 PM
AICL also closed higher on the back of withdrawal of proposed amendments in insurance ordinance (increase in Capital requirement) giving some breathing space to the sector.
umair bhai can we expect a rally b4 xdiv date or shud one move out at current levels
farzooq sb suggest technicals pls

hold at current levels
Title: Re: AICL -- Adamjee Insurance
Post by: Farzooq on September 17, 2009, 01:22:31 AM
buy targetin 120
Title: Re: AICL -- Adamjee Insurance
Post by: Admin on September 17, 2009, 12:34:31 PM
upper lock
Title: Re: AICL -- Adamjee Insurance
Post by: Papa Jee on September 17, 2009, 03:11:20 PM
buy targetin 120

excellent n timely cal Farzooq Bhai.
Title: Re: AICL -- Adamjee Insurance
Post by: um@ir on September 17, 2009, 10:54:30 PM
MashAllah, the Target should come !!
Title: Re: AICL -- Adamjee Insurance
Post by: Farzooq on September 24, 2009, 10:34:19 AM

116 nearing target
Title: Re: AICL -- Adamjee Insurance
Post by: Admin on September 25, 2009, 11:26:33 AM

116 nearing target

122 target achieved
Title: Re: AICL -- Adamjee Insurance
Post by: Toshi on September 25, 2009, 11:52:57 AM

116 nearing target

122 target achieved

MashALAH
Title: Re: AICL -- Adamjee Insurance
Post by: Admin on September 28, 2009, 11:24:31 PM
buy on dip
Title: Re: AICL -- Adamjee Insurance
Post by: Admin on October 05, 2009, 01:36:06 PM
AICL: As Goes the Market…

… So Does the Stock

Adamjee Insurance Company Limited (AICL), the largest non-life private sector insurer in Pakistan with 32% share of industry (27 listed companies) gross premiums and 18% share of industry underwriting profits has benefitted tremendously from the re-bound in the stock market. Over the last 5 years, investment income (dividends + capital gains) has constituted around 95% of annual pretax profits. With the outlook for the stock market positive and 78% impairment provisions reversed by June 30 '09, we expect AICL to produce strong bottomline performance in CY09 and CY10. There is high correlation (r = 91%) between KSE-100 Index and AICL's stock price. Furthermore, we have noticed a positive shift in earnings contributions by AICL's overseas (UAE) operations which constituted 42% of core underwriting profits in 1HCY09 and showed a 37%YoY growth. Based on multiple valuations metrics, our blended target price of AICL is PkR167/share, representing 48% upside at current levels. Buy!.
Title: Re: AICL -- Adamjee Insurance
Post by: Farzooq on October 05, 2009, 11:19:09 PM

buy with stop at 112
Title: Re: AICL -- Adamjee Insurance
Post by: Admin on October 07, 2009, 11:29:05 AM

buy with stop at 112

aicl 120 should break above 122.6
Title: Re: AICL -- Adamjee Insurance
Post by: Admin on October 10, 2009, 04:27:08 PM

buy with stop at 115
Title: Re: AICL -- Adamjee Insurance
Post by: Admin on October 10, 2009, 04:43:24 PM
aicl holds 19 m shares of mcb
Title: Re: AICL -- Adamjee Insurance
Post by: Admin on October 15, 2009, 02:47:00 PM
buy aicl currently at 118
stop 115
Title: Re: AICL -- Adamjee Insurance
Post by: Toshi on October 15, 2009, 03:38:44 PM
Any target ?
Title: Re: AICL -- Adamjee Insurance
Post by: Admin on October 15, 2009, 03:42:32 PM
Any target ?

target 130+ on break of 123
stop on 115 is must
Title: Re: AICL -- Adamjee Insurance
Post by: Farzooq on October 19, 2009, 10:06:01 AM
buy aicl currently at 118
stop 115

stop hit 115.7 loss booked
Title: Re: AICL -- Adamjee Insurance
Post by: Toshi on October 29, 2009, 08:55:44 PM
Superb performance this week by AICL
Title: Re: AICL -- Adamjee Insurance
Post by: Learner7 on October 30, 2009, 10:04:31 AM
AICL next moves depend on its BM results.

Its risky but i am going to SHORT AICL at todays cap. :-\
Title: Re: AICL -- Adamjee Insurance
Post by: Admin on October 30, 2009, 11:31:21 AM
eps around 20 expected by akd
Title: Re: AICL -- Adamjee Insurance
Post by: Admin on October 30, 2009, 12:26:15 PM
eps 20.53
Title: Re: AICL -- Adamjee Insurance
Post by: Toshi on October 30, 2009, 12:34:25 PM
eps 20.53

Inline with AKD expectations.
Title: Re: AICL -- Adamjee Insurance
Post by: Admin on October 30, 2009, 01:06:39 PM
eps 20.53

Inline with AKD expectations.

30-OCT-09 AICL Adamjee Insurance FINANCIAL RESULT FOR THE NINE MONTHS ENDED 30/09/2009
30-OCT-09 AICL Adamjee Insurance PROFIT/LOSS BEFORE TAXATION RS. IN MILLION 2,538.521
30-OCT-09 AICL Adamjee Insurance PROFIT/LOSS AFTER TAXATION RS. IN MILLION 2,308.817
30-OCT-09 AICL Adamjee Insurance EPS = 20.53
Title: Re: AICL -- Adamjee Insurance
Post by: Toshi on November 22, 2009, 11:33:52 PM

R3 = 127.783
midr3 = 126.9
R2 = 126.017
midr2 = 124.925
R1 = 123.833
midr1 = 122.95
*************
p = 122.067
*************
mids1 = 120.975
S1 = 119.883
mids2 = 119
S2 = 118.117
mids3 = 117.025
S3 = 115.933
Title: Re: AICL -- Adamjee Insurance
Post by: Toshi on November 28, 2009, 05:37:21 PM
Adamjee Insurance – Top line sluggish during 9MCY09

Adamjee Insurance Company Limited (AICL) recently published 9MCY09 detailed accounts,

posting net profit of PKR2.3bn (EPS: PKR20.53) during 9MCY09 compared to PKR3.1bn (EPS:

PKR27.24) in the same period last year (?25% YoY). Shrinking premiums and 22% YoY reduction

in investment income was a drag on the bottom line of the company. On QoQ basis, earnings

rebounded 11x to PKR1.7bn (EPS: PKR15.35) mainly on the back of PKR1.6bn reversal for the

impairment of ‘available for sale’ investments during 3QCY09. Excluding the onetime impact,

net profit of the company has jumped by 24% QoQ during 3QCY09 (EPS: PKR1.56/share).

Net Premiums down by 5% YoY & 11% QoQ


Slowdown in the economy and poor law & order situation has adversely affected the insurance

industry of the country. AICL’s 9MCY09 net premium revenue also fell by 5% YoY during

9MCY09 as all the segments witnessed plunge in their respective premiums (Fire ?18% YoY,

Marine ?19% YoY and Motor segment ?3% YoY) except ‘Miscellaneous’ segment’s premium,

which grew by 25% YoY. Growth in the ‘Miscellaneous’ segment also increased its share in the

total net premium revenue to 18% in 9MCY09 compared to 14% in the same period last year.

On QoQ basis, net premium revenue fell by 11% to PKR1.6bn. Steepest QoQ decline in net

premium was witnessed in Fire segment (51% QoQ), followed by Marine and Motor segment

with 20% QoQ and 13% QoQ decrease respectively.


across the board. Between 9MCY09 and 9MCY08, Fire claim ratio fell to 55% from 61%, Marine segment’s claim ratio went down to 36%

from 50% while claim ratio of ‘Miscellaneous’ segment decreased to 71% compared to 78%. Nevertheless, during 3QCY09, net claim ratio

increased to 67% from 63% during 2QCY09.

Investment Income supported the bottom line


Reversal of PKR1.8bn for impairment in value of ‘available for sale’ investments contributed 80% to the total investment income during

9MCY09, taking the total investment income to PKR2.3bn during 9MCY09. Excluding the impairment reversal, total investment income of

the company stood at PKR457mn during 9MCY09, 87% YoY lower from PKR3.4bn during 9MCY08. The company reversed PKR1.5bn alone

during 3QCY09 on the back of better equity market performance.

Investment Perspective


We are of the opinion that the slow rise in the premium will continue until CY10, when the economy will start its growth phase.

Moreover, investment income, which has been major contributor to the company’s bottom line, is expected to improve going forward as

the equity market has rebounded after removal of floor. At the recent closing of PKR119.5/share, the scrip is trading at an CY09

annualized P/E of 4.4x and P/BV of 1.3x.
Title: Re: AICL -- Adamjee Insurance
Post by: Karuli on November 30, 2009, 02:33:54 PM
well done toshi bhai
EID MUBRIK hu AAP ko
Title: Re: AICL -- Adamjee Insurance
Post by: Toshi on November 30, 2009, 04:21:13 PM
well done toshi bhai
EID MUBRIK hu AAP ko

Thank you Bhai,God Bless you
Title: Re: AICL -- Adamjee Insurance
Post by: Admin on December 07, 2009, 01:01:57 PM
Adamjee: Company Update / ‘Buy’ maintained

Despite challenging economic conditions, Adamjee
Insurance (AICL) has continued to demonstrate
strong core performance posting underwriting profits
of Rs557mn in 9M (Jan-Sep) 2009 – an increase of
241%YoY. The performance appears to be note
worthy given the fact that net premiums declined by
5% during the same period.
Moreover, Rs1.8bn worth of reversal of impairment due to a
rebound in equity markets has brought investment income to
Rs2.3bn (Rs20 per share) during 9M2009. The rebound in
equity markets since hitting a trough in Jan 09 has also
helped propel the portfolio value of equity investments to
Rs7.9bn (Rs71 per share). Trading at a 2010E PE of 8.4x and
a portfolio value of Rs74/share, we reiterate our liking for the
scrip at current levels.
Title: Re: AICL -- Adamjee Insurance
Post by: Learner7 on December 08, 2009, 05:40:06 PM
AICL underwriting profits rise to Rs557m

Published: December 08, 2009


KARACHI - Despite tough economic conditions, the underwriting profits of Adamjee Insurance (AICL) increased to Rs557 million in nine months of current calendar year.

In terms of growth, AICL underwriting profitability swelled by 241 per cent while its net premiums declined by 5 per cent YoY during January-September 2009.

This sharp increase in underwriting segment is attributed to fall in claims ratio and control over commissions as the claims ratio fell by 64 per cent in 9M2009 as against of showing 71 per cent in 9M2008 while the combined ratio of claims and commission was recorded at 89 per cent as against of 97 per cent in Jan-Sep 2009.

Analysts believe that the most encouraging aspect of AICL’s results in 9M2009 has been the impressive performance of its core business.

According to JS report, the profitability statistics of AICL highlight the qualitative nature of AICL’s insurance portfolio, even in such challenging macro conditions and are seconded by a 6 per cent decline in gross premiums. A closer look reveals that the Motor Segment (51 per cent share) and Marine 15 per cent share, all witnessed improvement in their claims ratios, though premiums remained lackluster.

Report further stated that Rs1.8 billion worth of reversal of impairment due to a rebound in equity markets has brought investment income to Rs 2.3 billion (Rs20 per share) during 9M2009. The rebound in equity markets since hitting a trough in Jan 09 has also helped propel the portfolio value of equity investments to Rs 7.9 billion (Rs71 per share).

JS predicts with an improved economic outlook for 2010, Adamjee has positioned itself strongly to tap potential benefits, whilst maintaining a balanced insurance portfolio. Improved economic fundamentals, reduced business risk and a positive outlook for equity markets remain major positives Adamjee Insurance’s future.

Report indicated that another factor augmenting AICL’s attractiveness is its quality investment portfolio, which has seen its’ value rise in the backdrop of a rebound witnessed in equity markets. The portfolio alone is currently worth Rs8.3b (Rs74 per share), report estimates.

This news was published in print paper. To access the complete paper of this day. click here

Title: Re: AICL -- Adamjee Insurance
Post by: Toshi on December 08, 2009, 10:11:25 PM
Aicl is coming on extremely attractive levels.
Title: Re: AICL -- Adamjee Insurance
Post by: abcd on December 08, 2009, 10:34:51 PM
Aicl is coming on extremely attractive levels.
one shud add
Title: Re: AICL -- Adamjee Insurance
Post by: Toshi on December 08, 2009, 11:31:30 PM
Aicl is coming on extremely attractive levels.
one shud add

yes.
Title: Re: AICL -- Adamjee Insurance
Post by: Admin on December 14, 2009, 11:52:15 AM
buy aicl with stop at 112
current rate 115
Title: Re: AICL -- Adamjee Insurance
Post by: Toshi on December 14, 2009, 11:53:14 AM
buy aicl with stop at 112
current rate 115

Nice n timely cal.
Title: Re: AICL -- Adamjee Insurance
Post by: Admin on December 14, 2009, 02:35:05 PM
buy aicl with stop at 112
current rate 115

Nice n timely cal.

118 laoo cap
Title: Re: AICL -- Adamjee Insurance
Post by: Admin on December 15, 2009, 03:30:10 PM
buy aicl with stop at 112
current rate 115

Nice n timely cal.

118 laoo cap

122  :)
Title: Re: AICL -- Adamjee Insurance
Post by: Admin on December 18, 2009, 02:52:37 PM
buy on dips trend bullish
Title: Re: AICL -- Adamjee Insurance
Post by: Toshi on December 21, 2009, 03:05:45 PM
Laooo maal AICL.
Title: Re: AICL -- Adamjee Insurance
Post by: Toshi on December 21, 2009, 10:50:58 PM
Strong Buy AICL with stoploss at 117.5 bullish trend is intact.
Title: Re: AICL -- Adamjee Insurance
Post by: abcd on December 21, 2009, 11:18:41 PM
Strong Buy AICL with stoploss at 117.5 bullish trend is intact.
agreed
Title: Re: AICL -- Adamjee Insurance
Post by: Toshi on December 22, 2009, 09:41:05 AM
Laooo Adamgeeeeeee
Title: Re: AICL -- Adamjee Insurance
Post by: abcd on December 22, 2009, 10:02:49 AM
Wow.Enjoy
Title: Re: AICL -- Adamjee Insurance
Post by: Admin on December 22, 2009, 12:03:56 PM
Adamjee Insurance to buy stakes in AES

Adamjee Insurance (AICL), issued a notice at the exchange
today, stating that it has entered into an agreement with
Nishat Mills Limited (NML) to acquire stakes in AES Lalpir
and AES Pak Gen. This news has followed the
announcement made by NML expressing interest in acquiring
a substantial majority stake in the two fore-mentioned projects
of AES Pakistan Holco Limited. As the agreement is still in the
initial stages, no concrete information regarding the
shareholding structure is available. Hence, it is difficult to
quantify the impact on AICL.
Title: Re: AICL -- Adamjee Insurance
Post by: Learner7 on December 22, 2009, 12:34:35 PM
Adamjee Insurance to buy stakes in AES

Adamjee Insurance (AICL), issued a notice at the exchange
today, stating that it has entered into an agreement with
Nishat Mills Limited (NML) to acquire stakes in AES Lalpir
and AES Pak Gen. This news has followed the
announcement made by NML expressing interest in acquiring
a substantial majority stake in the two fore-mentioned projects
of AES Pakistan Holco Limited. As the agreement is still in the
initial stages, no concrete information regarding the
shareholding structure is available. Hence, it is difficult to
quantify the impact on AICL.

Thanks, nice sharing. :)
Title: Re: AICL -- Adamjee Insurance
Post by: Learner7 on December 22, 2009, 02:04:35 PM
AICL-JAN is upper lock for the last half an hour. :o

Trading continue in Ready Market.
Title: Re: AICL -- Adamjee Insurance
Post by: Admin on December 29, 2009, 12:46:46 PM
bm by 10th march
expected eps 22
target 140
Title: Re: AICL -- Adamjee Insurance
Post by: Toshi on December 30, 2009, 09:52:34 AM
Laooo Maal AICL.
Title: Re: AICL -- Adamjee Insurance
Post by: Learner7 on December 31, 2009, 11:16:09 AM
Buy AICL

Stoploss 122, next week target 133.
Title: Re: AICL -- Adamjee Insurance
Post by: Karuli on December 31, 2009, 11:18:53 AM
 Also buy call from my side
Title: Re: AICL -- Adamjee Insurance
Post by: Toshi on December 31, 2009, 03:08:16 PM
Buy aicl trend is bullish
Title: Re: AICL -- Adamjee Insurance
Post by: Admin on January 05, 2010, 11:08:04 PM
broke resistance at 127.5
target 140 intact
Title: Re: AICL -- Adamjee Insurance
Post by: Toshi on January 11, 2010, 10:55:40 AM
Buy aicl trend is bullish

Laoo maal AICL.
Title: Re: AICL -- Adamjee Insurance
Post by: Toshi on January 21, 2010, 10:43:10 AM
Buy AICL a good closing expected oday.
Title: Re: AICL -- Adamjee Insurance
Post by: Toshi on January 21, 2010, 03:27:45 PM
Buy AICL a good closing expected oday.

booked loss.
Title: Re: AICL -- Adamjee Insurance
Post by: arauf on January 25, 2010, 10:34:25 PM
no good movements in this script. It was liked by many houses just a few days back.
Title: Re: AICL -- Adamjee Insurance
Post by: Learner7 on January 27, 2010, 09:09:12 PM
(http://img59.imageshack.us/img59/3130/aicl.jpg)

AICL at critical levels.

A bounce is due at the trend line. 61% retracement is completed.
Title: Re: AICL -- Adamjee Insurance
Post by: Farzooq on February 01, 2010, 12:07:26 PM
buy aicl with stop 113.3
current rate 117.5
Title: Re: AICL -- Adamjee Insurance
Post by: sumbul on February 01, 2010, 04:30:36 PM
bm by 10th march
expected eps 22
target 140

Farzooq Bhai, Do you still standby this target. Is the BM confrim?
Title: Re: AICL -- Adamjee Insurance
Post by: Farzooq on February 01, 2010, 04:41:58 PM
bm by 10th march
expected eps 22
target 140

Farzooq Bhai, Do you still standby this target. Is the BM confrim?

bm not yet announced
target yes
Title: Re: AICL -- Adamjee Insurance
Post by: sumbul on February 01, 2010, 04:44:42 PM
bm by 10th march
expected eps 22
target 140

Farzooq Bhai, Do you still standby this target. Is the BM confrim?

bm not yet announced
target yes


Farzooq Bhai, While I agree with your target price the expected full year EPS is 27 not 22  :thankyou:
Title: Re: AICL -- Adamjee Insurance
Post by: sumbul on February 03, 2010, 12:27:53 PM
Invest for 1 month and 15% capital gain is guaranteed  :goodl:
Title: Re: AICL -- Adamjee Insurance
Post by: Karuli on February 03, 2010, 12:32:43 PM
Invest for 1 month and 15% capital gain is guaranteed  :goodl:

Dont give such comments.
Previously you were so optimistic in Netsol.
 :lol4:
Title: Re: AICL -- Adamjee Insurance
Post by: Learner7 on February 03, 2010, 05:22:09 PM

Learner Bhai what is your target for AICL b4 announcement of full year results


Bahi, it's mansha item + popular sstta item + good company, kio nahi chalay ga.

level of 135 is comfortable, my view.
Title: Re: AICL -- Adamjee Insurance
Post by: Kid on February 12, 2010, 11:35:57 AM
Farzooq/Learner Bhai,

I have bought AICL at about 119 by the end of Jan. Can you please suggest if I should hold it or not and If I need to hold it then for how long?

Thanks for your replies in Advance... :down:
Title: Re: AICL -- Adamjee Insurance
Post by: Farzooq on February 12, 2010, 12:10:45 PM
Farzooq/Learner Bhai,

I have bought AICL at about 119 by the end of Jan. Can you please suggest if I should hold it or not and If I need to hold it then for how long?

Thanks for your replies in Advance... :down:

hold target 140 by march or apr end
Title: Re: AICL -- Adamjee Insurance
Post by: naeem on February 12, 2010, 12:16:08 PM
Thanks Farzooq Bhai,

I really appreciate your prompt response.  :speak_cool:
Title: Re: AICL -- Adamjee Insurance
Post by: Farzooq on February 17, 2010, 09:29:01 AM
Insurance: ADAMJEE INSURANCE COMPANY LIMITED - Analysis of Financial Statements Financial Year 2004 - 2003 Q 2009

OVERVIEW (February 17 2010): The insurance industry of Pakistan forms a meagre part of the GDP as compared to other nations of the world. With a very low penetration level, the industry is still in its nascent stage in consequent of lower demand.

The concept of insurance in Pakistan is not acceptable on account of many reasons; most prominently being the positioning, marketing and distribution-related issues. Furthermore, the demand for insurance depends on real disposable income of the prospective policyholder, the individual's preference about the need for financial security, economic environment, interest rates, inflation and insurance premium rates; factors which are all missing in the Pakistani scenario. Then the cultural and religious factors also play an integral part.

Pakistan's insurance sector is reaping the benefits of a growing economy coupled with the insurance sector reforms, soaring trade activities, improving per capita income and competition among insurance sector companies, which are driving the current growth in the insurance sector. The gross premiums and net premiums of the insurance industry have shown an increasing trend, thanks to the better marketing environment. Also, the percentage of gross premium to GDP also showed an increasing trend over the period under assessment. This trend is indicative of growth of insurance penetration in the economy.

At present there are 54 insurance companies out of which 49 companies offer non-life insurance and 5 offer life insurance services. The non-life insurance industry also includes six companies that provide health insurance coverage as well.

NON-LIFE INSURANCE

There is a monopolistic competition within the non-life insurance sector in Pakistan as there are around 49 non-life insurance companies. The promulgation of insurance ordinance in 2000 and subsequent regulatory changes strengthened the regulatory and supervisory infrastructure for NLI companies. For instance, enhancement in paid-up capital requirement improved the equity structure and reduced the number of non-profitable companies. The non-life insurance sector's profitability has jumped by 17 percent in the 1st half of current year over the same period last year. The demand for auto insurance, marine insurance, and fire insurance augmented owing to availability of consumer financing at low interest rates, unprecedented rise in trade volumes and increased uncertainty due to terrorist attacks in many regions, surge in industrial activity and high growth construction business respectively. The structure of the NLI sector is still skewed. The top 5 companies have more than 70 percent in the overall assets and net premium of the sector.

Claim ratio of the sector depicted a declining trend while combined ratio of the sector stood at 79 percent versus 80 percent in 2006. Moreover, expense ratio of the sector stood at the level of last year, ie 18 percent. With the enhancement in the insurance products, further growth is expected in this sector.

Adamjee Insurance Company Limited (AICL) was incorporated as a public limited company on September 28, 1960. The primary business of the company is to provide general insurance at retail and corporate levels. AICL is listed on Karachi and Lahore stock exchanges of the country. The company is also registered with the Central Depository Company of Pakistan Limited (CDC). AICL broadly is involved in underwriting the following classes of the businesses:

It offers three products in the retail insurance category namely, fire, motor and bancassurance. While for corporate customers it has engineering, fire, health, livestock, marine, specialized cover and miscellaneous insurance coverage options.

AICL has a diversified client portfolio encompassing both retail corporate levels. The company insures most of the banks. Moreover, it insures petrochemical and complex industrial risks of very high value. The company has a major market share of engineering business in Pakistan. It provides Insurance protection to most of the private sector telecommunication industries. It also insures most of the textile mills, sugar mills and cement factories of the country along with covering the energy risks in Pakistan. Foreign concerns entering Pakistan to execute construction, erection or infrastructure development projects are insured by AICL. Also, the company is the principal insurer in Pakistan against kidnapping and ransom. It also provides insurance cover for professional indemnity, product liability and other specialized lines.

Starting with a paid-up capital of Rs 2.5 million, AICL has grown phenomenally to the current paid-up capital of Rs 1.022 billion, which is the highest amongst all the general insurance companies. The company enjoys a competitive edge in the insurance industry due to its strong asset base, paid-up capital, huge reserves, and balanced portfolio mix, steady growth in gross premium and continuous increase in share price at the stock market. These entire segments place Adamjee Insurance in the top notch of the non-life insurance sector. Based on the amount of assets and total premium, the company can be safely considered as the market leader in non-life insurance with a total share of 42%.

Over the years, AICL has posted a tremendous growth in its net premiums and gross premiums. The demand for insurance is a function of rising GDP and booming manufacturing and service sector of Pakistan. A substantial contribution in the growth was by the motor insurance policy followed by fire insurance policy. The consumer finance explosion in the last four or five years has helped the motor insurance industry to thrive while enhancing the demand for cars. Banks that are offering car finance loans have put together special deals with insurers for their customer base. The growth in the net premium in marine business of AICL is attributable to the overall growth in the exports and imports of Pakistan in the current period. Fire and property damage insurance is also on the rise in consequent of a surge in the construction of shopping centers, residential properties etc and therefore has provided ongoing opportunities for insurers. Furthermore, the building of residential properties for a growing middle class and their subsequent insurance is being encouraged by an increase in loan facilities from banks.

INSURANCE INDUSTRY REVIEW

During the last 4 years, gross premium of general insurance companies in Pakistan grew by approximately 15% annually while the penetration of the sector reached 0.4% (Rs 33 billion) of GDP by the end of 2007. The growth in the gross premium was mainly attributable to the decent economic growth during this era. According to an independent source, the gross premium of the general insurance in Pakistan is projected to end at Rs 35 billion mark in 2008. While this would be a growth of 6% over 2007, insurance penetration is projected to be lower at 0.33% at the end of 2008 versus that of 0.4% a year earlier. The decline in insurance penetration is attributable to the overall economic slowdown, particularly to the bleak auto sector performance.

Undoubtedly, the motor segment has been regarded as the major growth propeller for the insurance sector in the last 5 years. This was mainly attributable to abundance financing facilities and rise in personal income. The growth of the sector however, remained stagnant in 2008 on back of the subdued car sales and industrial production. Moreover, slowdown in the trade activities amid global economic crisis also affected the Marine insurance. Another problematic factor for the insurance companies is the increase in the reinsurance rates by the major reinsurance companies in the world. As reported in many international journals, the reinsurance companies have increased their rates due to growing demand of reinsurance and changing risk environment.

RECENT PERFORMANCE 2003 Q 2009

===============================================
Earnings                      3Q'09       3Q'08
===============================================
Gross Premium             7,405,108   7,873,638
Net Premium Revenue       5,187,372   5,463,868
Underwriting Result         557,316     163,661
Investment Income         2,296,039   2,925,975
Profit Before Tax         2,538,521   2,954,146
Profit After Tax          2,308,817   3,063,187
Earnings per share            20.53       27.24
===============================================

The gross premium as well as net premium, have decreased by 6% and 5% respectively over the corresponding period of last year. This is mainly due to slow down of the economy, intensification of war on terror, decline in Pakistan's exports and global economic crisis.

Net claims have decreased by 14% from the same period last year and combined ratio has improved from 97% to 89%. The major contributor to the claims was the motor segment followed by the miscellaneous segment. The underwriting results have grown phenomenally by 241% from comparative period last year. In FY08 the company was undergoing the stress following Benazir's death and the claims emanating henceforth.

However, the company's investment income shows a decrease of 22% as compared to last year, which is mainly attributable to the overall position of stock markets in the country. The profit before and after tax has declined by 14% and 25% to be Rs 2538 million and Rs 2308 million respectively, as compared to 3Q08.

POLICIES

===========================================
Policies                 Claims Ratio H1'09
===========================================
Marine, Aviation and Transport          35%
Fire and property damage                54%
Treaty                                 179%
Motor                                   67%
Miscellaneous                           86%
===========================================

Treaty represents the premium received from other insurance companies. This time claims made were higher than net premium collected. The marine, aviation, transport had the least claims ratio.

OPERATING PERFORMANCE (FINANCIAL YEAR 2008)

The gross premium has increased by 8.81% while the net premiums have increased by 35.38% on a y-o-y basis. The total claims incurred have increased by 32.13% on a y-o-y basis. The underwriting result showed a significant increase of 208.4%. The profit after tax has reduced by 73.84% on a y-o-y basis. This is largely due to a decline in investment income by 75.52%. This was due to turbulence at the Karachi Stock Exchange that was at 5,865 points on 31st December 2008 as against 14, 075 points on 31st December 2009. The portfolio of AICL comprises the following:

The table shows growth in the insurance components volume wise. The figure shows the contribution of the portfolio components in the total gross premium. Both diagrams illustrate a visible increase in the proportion of premiums collected on account of motor policy, which has increased by 5%. A 6% decline in fire policy was observed.

Fire and property: The gross premiums from this component were Rs 3.4 billion in 2008 as against Rs 3.5 billion in 2007. The ratio of net claims to net premium revenue is 64% in 2008 as against 93% in 2007. The company earned underwriting profit of Rs 185 million in 2008 as against an underwriting loss of Rs 171 million last year.

Marine, aviation and transport: This segment contributes 15% to the gross premium. The company has underwritten gross premiums worth Rs 1.5 billion in 2008 as against Rs 1.4 billion in 2007. This represents a growth of 8%. The portfolio showed a decline of 53% in underwriting profit, which amounted to Rs 161 million in 2008 as compared to Rs 342 million in 2007. The net claim to net premium ratio is 51% as against 32% last year. The underwriting profitability ratio with respect to net premium is 13% against 33% last year. This is mainly because of extraordinary losses incurred this year.

Motor: This segment contributes 38% of the total gross premium. The company has underwritten gross premium of Rs 3.9 billion showing a growth of 27% on a y-o-y basis. Net claim to net premium ratio is 73% for current year as well as 2007. The company made an underwriting profit of Rs 86 million as against an underwriting loss of Rs 13 million in 2007. The management has become wary in this segment and has become cautious in the motor claims settlement procedure. This will help lower the claim ratio.

Miscellaneous: The gross premium showed growth of 11%. The gross premium increased from Rs 1.3 billion in 2007 to Rs 1.4 billion in 2008. Net claim to net premium ratio became 82% in 2008 from 81% in 2007. There is an underwriting loss of Rs 65 million in this portfolio against Rs 22 million gain in 2007. This is on account of health in this part of portfolio.

The underwriting profit as a percentage of net premium has increased from 2.15 in 2007 to 4.90 in 2008. This is because the underwriting result increased by 208% while net premium revenue grew by only 35%. The expense ratio has declined from 19.07 in 2007 to 16.17 in 2008. This is because the underwriting expenses grew at a slower rate compared to net premium revenue. The underwriting expenses grew by 14% while net premium revenue showed a growth of 35%. The loss ratio has declined from 70.77 to 69.07 on a y-o-y basis. This is because the total claims incurred grew slower relative to the net premiums. The total net claims incurred posted a growth of 32%, which is lower than the growth in net premium revenue of 35%. The combined ratio consequently showed a similar trend. The combined ratio declined from 89% in 2007 to 85% in 2008. This shows that the expenses of the company have gone down. The reinsurance expense to net premium ratio has bounced in 2008. It has increased from 22% in 2007 to 37% in 2008.

The investment income has declined by 76% on a y-o-y basis. This was mainly on account of the poor performance of the Karachi Stock Exchange. The crises at the stock exchange took a toll and culminated into the imposition of a floor at the stock exchange. This had brought trading to a standstill and the investments got devalued. This factor has resulted in a major decline in all investment return related ratios. The investment income to net premiums has fallen from 81% in 2007 to 15% in 2008. The investment income to investment assets has declined from 55% in 2007 to 14% in 2008. Hence compared to gross premium (growth of 8.81%) the performance of investment income was unsatisfactory. The share of underwriting result in total profit (31% from 3%) has increased than the share of investment income (69% from 97%).

The debt management of the company has improved. The proportion of debt compared to assets and equity has come down. Debt to assets ratio has increased from 59% in 2007 to 54% in 2008. Debt to equity ratio has declined from 145% in 2007 to 120% in 2008. The total equity has grown by10% on a y-o-y basis. The total assets have declined slightly by 1% on a y-o-y basis. However, the major dip was seen in the total liabilities/debt, which was by 9%. This shows that the company is under leveraged and has expanded its equity base over the years. On the upside, this shows that the company will incur lower interest expense obligations. This will strengthen the company's liquidity position. Moreover, the company now has greater room to raise capital through debt in the future with exceeding the optimal gearing ratio as the capital structure has been modified by rise in equity.

The capital adequacy ratios show an optimistic outlook. The paid up capital to total equity ratio shows a declining trend. The ratio reduced from 0.13 in 2007 to 0.12 in 2008. This shows that the rise in total equity is not due to issuing of additional shares but as a result of reinvested profits from underwriting results and investment income. Paid-up capital to total assets have declined due to an increase in assets. It reduced from 0.09 in 2006 to 0.05 in 2007 and increased to 0.06 in 2008. This was due to decrease in assets in 2008 by a slight 1%. The equity to total assets has increased over the years. It increased from 0.41 in 2007 to 0.46 in 2008. This is due to a greater increase equity than in assets. The equity has grown by 509% in the period 2004-08 while the total assets have grown by 132% in the same period.

The EPS (earnings per share) of the firm was an impressive Rs 41.09 per share. This has declined to Rs 10.75 per share in 2008. This is largely due to a decline in profit after tax on account of lower investment income this year. The profit after tax has reduced from Rs 4.2 billion to Rs 1.10 billion - a decline of 74%. The dividend of the firm has reduced consequently. It has declined from Rs 3.3/share to Rs 3.0 per share. The P/E ratio has declined overall but has shown a slight increase this year from 8.72 in 2007 to 9.47 in 2008. This is due to decline in EPS. The market prices have also declined from Rs 358/share to Rs 102/share. However the decline in EPS was greater that resulted in an overall increase in P/E ratio. On face value P/E ratio indicates good performance of the firm in the future. However, close scrutiny reveals that both earnings and share price has gone down. This could be attributed to extraordinary stock exchange crisis witnessed in the last year. Once this situation improves, the company's performance will improve.

The stock has recovered from Rs 42.77 in January 2009 to Rs 116.01 in October 2009.

FUTURE OUTLOOK

Enhancement of FED from 5%-10% will have a negative impact on the company's profitability. Moreover, exemption from the tax on unrealized gain from the non-life insurance companies as announced in the budget 2008-2009 will have a positive effect on the bottom-line of AICL. According to the international press, Pakistan is on the front line of the fight against international terrorism because of its proximity to Afghanistan and other alleged sanctuaries of al Qaeda and other dissident groups. Outbreaks of violence in Pakistan itself are fairly common. Some of these have prompted significant insurance losses. Thus, increasingly high instability in the country will pose high risks to AICL in terms of higher claim rates. Going forward, with the recent terrorist attacks in the country, it can be safely anticipated that the claims will march upwards.

============================================================================
ADAMJEE INSURANCE-KEY FINANCIAL DATA
============================================================================
Earnings                              FY'04   FY'05   FY'06   FY'07   FY '08
============================================================================
                                                  Rupees in Millions
----------------------------------------------------------------------------
Gross Premium                          5266    6682    7912    9379    10205
Net Premium Revenue                    3678    3997    5280    5532     7489
Total claims incurred                  2683    2472    3355    3915     5173
Underwriting Result                      74     306     482     119      367
Investment Income                       494    1147    1515    4486     1098
Profit Before Tax                       411    1278    1685    4285     1176
Profit After Tax                        327    1163    1577    4201     1099
----------------------------------------------------------------------------
Balance Sheet                         FY'04   FY'05   FY'06   FY'07   FY '08
----------------------------------------------------------------------------
                                                   Rupees in Millions
----------------------------------------------------------------------------
Paid up capital                         826     826    1022    1022     1022
Equity                                 1387    2426    3788    7652     8444
Investments                            2469    3040    4503    8132     7577
Cash & Bank balances                    755    1428     883     954     1724
Total Assets                           8005    9182   11139   18766    18545
Total Liabilities                      6618    6756    7351   11114    10100
----------------------------------------------------------------------------
Operating Performance (%)             FY'04   FY'05   FY'06   FY'07    FY'08
----------------------------------------------------------------------------
Underwriting Profit / Net Premium      2.02    7.66    9.13    2.15     4.90
Underwriting Profit / Gross Premium    1.41    4.58    6.09    1.27     3.60
Loss Ratio                            72.93   62.84   63.54   70.77    69.07
Expense Ratio                         32.46   30.52   27.34   19.07    16.12
Combined ratio                       105.39   93.36   90.88   89.84    85.19
Return on Assets                       4.09   12.67   14.15   22.39     5.93
Reinsurance Expense/Net Premiums      43.16   67.18   49.84   22.18    37.05
----------------------------------------------------------------------------
Debt Management                       FY'04   FY'05   FY'06   FY'07    FY'08
----------------------------------------------------------------------------
Debt/Assets Ratio                     82.67   73.58   65.99   59.22    54.46
Debt/Equity                          477.14  278.48  194.06  145.24   119.61
----------------------------------------------------------------------------
Capital Adequacy                      FY'04   FY'05   FY'06   FY'07    FY'08
----------------------------------------------------------------------------
Paid-up Capital / Total Equity          0.6    0.36    0.27    0.13     0.12
Paid-up Capital / Total Assets          0.1    0.09    0.09    0.05     0.06
Equity/Total Assets                    0.17    0.25    0.34    0.41     0.46
----------------------------------------------------------------------------
Profitability Ratios                  FY'04   FY'05   FY'06   FY'07    FY'08
----------------------------------------------------------------------------
Investment income/Net premiums        13.42    28.7    28.7   81.09    14.66
Investment income/Investment assets   15.99   11.55      19   55.16    14.49
Profit After tax/Net Premium            8.9    29.1   29.86   75.94    14.67
----------------------------------------------------------------------------
Market Value Ratios                   FY'04   FY'05   FY'06   FY'07    FY'08
----------------------------------------------------------------------------
Earnings Per Share                     3.96      11      15   41.09    10.75
Share price                            65.6     137   150.5   358.4    101.8
Dividends per share                       -     1.5     4.0     3.3      3.0
P/E Ratio                             16.57   12.04    9.76    8.72     9.47
============================================================================
COURTESY: Economics and Finance Department, Institute of Business Administration, Karachi
Title: Re: AICL -- Adamjee Insurance
Post by: Farzooq on February 18, 2010, 10:29:33 AM
(http://i229.photobucket.com/albums/ee214/farzooq/aicl-3.gif)
Title: Re: AICL -- Adamjee Insurance
Post by: zeshan on February 18, 2010, 11:27:09 AM
what this chart indicates and how?
Title: Re: AICL -- Adamjee Insurance
Post by: zeshan on February 18, 2010, 12:00:15 PM
answer plz or u not want to explain.most of the people dont understand from chart only they need explanation
Title: Re: AICL -- Adamjee Insurance
Post by: Mr.TOOL on February 18, 2010, 12:11:07 PM
i think aicl had broke its trendline now it is trying to make some other formation consolidating in bearish mood.
Now regarding entry Farzooq may explain better.
Title: Re: AICL -- Adamjee Insurance
Post by: zeshan on February 18, 2010, 12:48:06 PM
waiting for his reply
Title: Re: AICL -- Adamjee Insurance
Post by: Farzooq on February 18, 2010, 01:11:29 PM
(http://i229.photobucket.com/albums/ee214/farzooq/aicl-3.gif)

aicl has broken the rising channel and is bearish 
resistance 122.8
support 113.2

strategy

1. buy if it breaks above 123
2. sell on strength above 120
3. buy on dip and hold it with stop 113 

Title: Re: AICL -- Adamjee Insurance
Post by: Mr.TOOL on February 19, 2010, 01:23:31 PM
(http://i229.photobucket.com/albums/ee214/farzooq/aicl-3.gif)

aicl has broken the rising channel and is bearish 
resistance 122.8
support 113.2

strategy

1. buy if it breaks above 123
2. sell on strength above 120
3. buy on dip and hold it with stop 113 



Bought on the break of 123
Title: Re: AICL -- Adamjee Insurance
Post by: Farzooq on February 19, 2010, 01:29:42 PM

aicl has broken the rising channel and is bearish 
resistance 122.8
support 113.2

strategy

1. buy if it breaks above 123
2. sell on strength above 120
3. buy on dip and hold it with stop 113 



Bought on the break of 123


hoping for an upper lock today
Title: Re: AICL -- Adamjee Insurance
Post by: Kid on February 19, 2010, 02:32:31 PM
Farzooq/Learner Bhai,

I have bought AICL at about 119 by the end of Jan. Can you please suggest if I should hold it or not and If I need to hold it then for how long?

Thanks for your replies in Advance... :down:

hold target 140 by march or apr end

Farzooq Bhai,

Please do let me know when this needs to be sold. Still holding (on your suggestion) the ones that I bought for 119

Thanks & Kind Regards

Title: Re: AICL -- Adamjee Insurance
Post by: Farzooq on February 19, 2010, 02:37:55 PM
Farzooq/Learner Bhai,

I have bought AICL at about 119 by the end of Jan. Can you please suggest if I should hold it or not and If I need to hold it then for how long?

Thanks for your replies in Advance... :down:

hold target 140 by march or apr end

Farzooq Bhai,

Please do let me know when this needs to be sold. Still holding (on your suggestion) the ones that I bought for 119

Thanks & Kind Regards



i guess u should book profits on all
or book profit on half and hold half

Title: Re: AICL -- Adamjee Insurance
Post by: Farzooq on February 19, 2010, 02:47:08 PM
upper locked  :banana:
Title: Re: AICL -- Adamjee Insurance
Post by: Mr.TOOL on February 19, 2010, 02:52:24 PM
upper locked  :banana:

sold on cap.
Title: Re: AICL -- Adamjee Insurance
Post by: Farzooq on February 19, 2010, 03:04:54 PM
upper locked  :banana:

sold on cap.

 :speak_cool: profit bookin is always gud
Title: Re: AICL -- Adamjee Insurance
Post by: Mr.TOOL on February 19, 2010, 03:21:11 PM
upper locked  :banana:

sold on cap.

 :speak_cool: profit bookin is always gud

you are right Bro,
Title: Re: AICL -- Adamjee Insurance
Post by: Kid on February 19, 2010, 03:56:09 PM
Farzooq/Learner Bhai,

I have bought AICL at about 119 by the end of Jan. Can you please suggest if I should hold it or not and If I need to hold it then for how long?

Thanks for your replies in Advance... :down:

hold target 140 by march or apr end

Farzooq Bhai,

Please do let me know when this needs to be sold. Still holding (on your suggestion) the ones that I bought for 119

Thanks & Kind Regards



i guess u should book profits on all
or book profit on half and hold half



Booked profit on all....when it upper locked  :banana:. Now its coming down i guess.... where should i buy it again?
Title: Re: AICL -- Adamjee Insurance
Post by: Farzooq on February 19, 2010, 04:00:16 PM

Booked profit on all....when it upper locked  :banana:. Now its coming down i guess.... where should i buy it again?

buy on dip around 122 123
Title: Re: AICL -- Adamjee Insurance
Post by: Kid on February 19, 2010, 04:06:46 PM

Booked profit on all....when it upper locked  :banana:. Now its coming down i guess.... where should i buy it again?

buy on dip around 122 123

Thanks for the advice.
Title: Re: AICL -- Adamjee Insurance
Post by: Honda 125 on February 22, 2010, 12:41:07 PM
AICL 125... Best for day trade...
Title: Re: AICL -- Adamjee Insurance
Post by: Honda 125 on February 22, 2010, 12:56:01 PM
AICL 125... Best for day trade...

125.80  :speak_cool:
Title: Re: AICL -- Adamjee Insurance
Post by: Farzooq on February 22, 2010, 01:52:14 PM
AICL 125... Best for day trade...

125.80  :speak_cool:

126.5   :thumbsup_anim:
Title: Re: AICL -- Adamjee Insurance
Post by: Honda 125 on February 22, 2010, 01:57:50 PM
AICL 125... Best for day trade...

125.80  :speak_cool:

126.5   :thumbsup_anim:

Im still buying even on 126.30  :khikhi: 130 kartay hain issay abhe...  :banana:
Title: Re: AICL -- Adamjee Insurance
Post by: Toshi on February 22, 2010, 02:11:42 PM
But i'm expecting a bad closing in aicl.
Title: Re: AICL -- Adamjee Insurance
Post by: Honda 125 on February 22, 2010, 02:12:37 PM
But i'm expecting a bad closing in aicl.

126.00 tak mila  :shoaby: Aur dain Mansha Uncle plz... Koe bara seller khara karain  :pp:
Title: Re: AICL -- Adamjee Insurance
Post by: chaudhary111 on March 09, 2010, 02:18:43 PM
Laooo MAAAL  :goodc:  :thumbsup_anim: :goodc:
Title: Re: AICL -- Adamjee Insurance
Post by: Toshi on March 09, 2010, 04:02:24 PM
I sold AICL today.
Title: Re: AICL -- Adamjee Insurance
Post by: ilyas on March 11, 2010, 11:30:57 PM
Can some friend tell about expected board meeting date of aicl ?
Title: Re: AICL -- Adamjee Insurance
Post by: Toshi on March 11, 2010, 11:32:28 PM
Can some friend tell about expected board meeting date of aicl ?

last week of this month.
Title: Re: AICL -- Adamjee Insurance
Post by: Toshi on March 11, 2010, 11:36:00 PM
(http://i869.photobucket.com/albums/ab251/Toshiali/aicl.png)
Title: Re: AICL -- Adamjee Insurance
Post by: axl_rose on March 13, 2010, 01:59:20 PM
aicl will rock in days to come buy on the breakout of 130.50
Title: Re: AICL -- Adamjee Insurance
Post by: sumbul on March 15, 2010, 02:09:34 PM
very very strong buy AICL. It can start it's upward journey anytime soon. Don't miss the rally  :goodc:  :thumbsup_anim:
Title: Re: AICL -- Adamjee Insurance
Post by: sumbul on March 16, 2010, 10:36:12 AM
very very strong buy AICL. It can start it's upward journey anytime soon. Don't miss the rally  :goodc:  :thumbsup_anim:

Adamjee ki parwaz rawangi key liye tayyar hey. Fasten your seat belts    :biggthumpup:
Title: Re: AICL -- Adamjee Insurance
Post by: Karuli on March 16, 2010, 10:37:41 AM
 :shoaby:
Title: Re: AICL -- Adamjee Insurance
Post by: Toshi on March 16, 2010, 10:46:43 AM
very very strong buy AICL. It can start it's upward journey anytime soon. Don't miss the rally  :goodc:  :thumbsup_anim:

Adamjee ki parwaz rawangi key liye tayyar hey. Fasten your seat belts    :biggthumpup:

Bhai rawangi ka time be bata do plz.
Title: Re: AICL -- Adamjee Insurance
Post by: Toshi on March 16, 2010, 11:06:04 AM
very very strong buy AICL. It can start it's upward journey anytime soon. Don't miss the rally  :goodc:  :thumbsup_anim:

WelDone Sumbul good call.
Title: Re: AICL -- Adamjee Insurance
Post by: sumbul on March 22, 2010, 12:26:00 PM
What's up is AICL. Farzooq Bhai any idea. I am holding 5,000/= @ 128. Should I sell or wait
Title: Re: AICL -- Adamjee Insurance
Post by: Farzooq on March 22, 2010, 12:32:36 PM
What's up is AICL. Farzooq Bhai any idea. I am holding 5,000/= @ 128. Should I sell or wait

results end of march expectations of bonus etc
Title: Re: AICL -- Adamjee Insurance
Post by: Toshi on March 22, 2010, 12:43:57 PM

very very strong buy AICL. It can start it's upward journey anytime soon. Don't miss the rally  :goodc:  :thumbsup_anim:
What's up is AICL. Farzooq Bhai any idea. I am holding 5,000/= @ 128. Should I sell or wait

kia aap ko apni buy call pe confidence nahi hay?
Title: Re: AICL -- Adamjee Insurance
Post by: sumbul on March 22, 2010, 01:56:31 PM
BOOK CLOSURE FROM APRIL 17, 2010
BOOK CLOSURE FROM APRIL 26, 2010

But BM not yet announced. Very Strange
Title: Re: AICL -- Adamjee Insurance
Post by: Toshi on March 22, 2010, 02:18:23 PM
BOOK CLOSURE FROM APRIL 17, 2010
BOOK CLOSURE FROM APRIL 26, 2010

But BM not yet announced. Very Strange

 :skeptic:
Title: Re: AICL -- Adamjee Insurance
Post by: mazeem on March 24, 2010, 01:08:24 PM
any one know about BM date????????
Title: Re: AICL -- Adamjee Insurance
Post by: Abdul Qadir on March 24, 2010, 01:43:12 PM
MAR 30 2010 AT 11 AM.
Title: Re: AICL -- Adamjee Insurance
Post by: sumbul on March 24, 2010, 01:49:44 PM
MAR 30 2010 AT 11 PM.

kia raat key andherey main meeting karain gaay  :khikhi:
Title: Re: AICL -- Adamjee Insurance
Post by: Farzooq on March 24, 2010, 01:54:02 PM
MAR 30 2010 AT 11 PM.

kia raat key andherey main meeting karain gaay  :khikhi:

march 30 11 am
Title: Re: AICL -- Adamjee Insurance
Post by: mazeem on March 24, 2010, 02:01:24 PM
MAR 30 2010 AT 11 AM.

Thanks
Title: Re: AICL -- Adamjee Insurance
Post by: sumbul on March 26, 2010, 11:36:43 AM
Farzooq Bhai. AICL ka kiya karun Hold ya Sell. Mujhey to lagta hey key acha result nahin ayaey ga warna ab tak atleast 135 to ho gaya hota  :down:
Title: Re: AICL -- Adamjee Insurance
Post by: Farzooq on March 26, 2010, 11:41:59 AM
Farzooq Bhai. AICL ka kiya karun Hold ya Sell. Mujhey to lagta hey key acha result nahin ayaey ga warna ab tak atleast 135 to ho gaya hota  :down:

sell on strength
resistance above 130
Title: Re: AICL -- Adamjee Insurance
Post by: zeshan on March 26, 2010, 06:08:51 PM
is any reportt issue about the expectation of comming result of aicl?
Title: Re: AICL -- Adamjee Insurance
Post by: Farzooq on March 29, 2010, 02:53:17 PM
is any reportt issue about the expectation of comming result of aicl?

AICL: CY09 Result Preview

Adamjee Insurance Ltd. (AICL) is scheduled to announce its CY09 result tomorrow. On an unconsolidated basis, we expect AICL to post NPAT of PkR2,332mn (EPS-20.74) for CY09 compared to NPAT of PkR1,099mn (EPS-PkR9.77) in the same period last year..     
Title: Re: AICL -- Adamjee Insurance
Post by: Farzooq on March 29, 2010, 02:59:53 PM
is any reportt issue about the expectation of comming result of aicl?

AICL: CY09 Result Preview

Adamjee Insurance Ltd. (AICL) is scheduled to announce its CY09 result tomorrow. On an unconsolidated basis, we expect AICL to post NPAT of PkR2,332mn (EPS-20.74) for CY09 compared to NPAT of PkR1,099mn (EPS-PkR9.77) in the same period last year..     


 rights expected from aicl around 25% @ 80
Title: Re: AICL -- Adamjee Insurance
Post by: Toshi on March 29, 2010, 03:05:57 PM
very nice move of AICL todat.
Title: Re: AICL -- Adamjee Insurance
Post by: Farzooq on March 30, 2010, 03:22:08 PM
eps 21 bonus 10% dps 1.5
Title: Re: AICL -- Adamjee Insurance
Post by: sumbul on March 30, 2010, 03:23:42 PM
eps 21 bonus 10% dps 1.5

Very bad payout.  :thumbsdown_anim: Thanks God I offloaded yesterday at 128.8  :speak_cool:
Title: Re: AICL -- Adamjee Insurance
Post by: Karuli on March 30, 2010, 05:37:17 PM
eps 21 bonus 10% dps 1.5

Very bad payout.  :thumbsdown_anim: Thanks God I offloaded yesterday at 128.8  :speak_cool:

not bad result
Title: Re: AICL -- Adamjee Insurance
Post by: 007 on March 30, 2010, 05:46:15 PM
DIVIDEND 15%
BONUS 10%

EPS 21.65 OLD WAS 9.77

BOOK CLOSURE 17-04-2010

Bad result nahin tou lower kyun  :down:
Title: Re: AICL -- Adamjee Insurance
Post by: zeshan on March 30, 2010, 05:55:28 PM
its a 100 million dolar question there is no answer one of the best resut in insurance sector wiyh groth of more than 200% from perevious year eps 21 than a lower lock unbeleivable but it will recover at spot only after 10 days
Title: Re: AICL -- Adamjee Insurance
Post by: Karuli on March 30, 2010, 06:02:04 PM
DIVIDEND 15%
BONUS 10%

EPS 21.65 OLD WAS 9.77

BOOK CLOSURE 17-04-2010

Bad result nahin tou lower kyun  :down:

EPS is more then expectation .
Title: Re: AICL -- Adamjee Insurance
Post by: Learner7 on March 30, 2010, 07:22:57 PM

EPS is more then expectation .

its a 100 million dolar question there is no answer one of the best resut in insurance sector wiyh groth of more than 200% from perevious year eps 21 than a lower lock unbeleivable but it will recover at spot only after 10 days


DIVIDEND 15%
BONUS 10%

EPS 21.65 OLD WAS 9.77

BOOK CLOSURE 17-04-2010

Bad result nahin tou lower kyun  :down:


I share a tip that AICL is habitual, as far as i remember AICL mostly hit Lower Lock after announcement of annual results in last couple of years.

But in next 2-4 sessions it hit back Upper Lock(s) and regain the same levels almost. Please cross check it and share over here to make a trade.
Title: Re: AICL -- Adamjee Insurance
Post by: axl_rose on March 30, 2010, 07:44:45 PM
Eps is based upon the increase in portfolio rates baki mansha uncle jo chahe wo kar lain
Title: Re: AICL -- Adamjee Insurance
Post by: Farzooq on April 02, 2010, 12:24:40 PM
Aicl will be spot from the 12th of april
Title: Re: AICL -- Adamjee Insurance
Post by: aliraza on April 02, 2010, 06:29:28 PM
farzooq bahi aicl spot hone tak 135 cross kar sakta haa bonus or div be haa pls share view
Title: Re: AICL -- Adamjee Insurance
Post by: Farzooq on April 02, 2010, 06:58:45 PM
farzooq bahi aicl spot hone tak 135 cross kar sakta haa bonus or div be haa pls share view

ho sakta hai
Title: Re: AICL -- Adamjee Insurance
Post by: whisper on April 14, 2010, 09:48:15 AM
Is it good to hold AICL and take the dividend ??? please advise. thanks
Title: Re: AICL -- Adamjee Insurance
Post by: Farzooq on April 14, 2010, 09:49:51 AM
Is it good to hold AICL and take the dividend ??? please advise. thanks

sell it before xd
Title: Re: AICL -- Adamjee Insurance
Post by: Farzooq on April 17, 2010, 01:01:57 PM
Insurance Company: ADAMJEE INSURANCE COMPANY LIMITED - Analysis of Financial Statements Financial Year 2004- Financial Year 2009
OVERVIEW (April 16 2010): The insurance industry of Pakistan forms a meagre part of the GDP as compared to other nations of the world. With a very low penetration level, the industry is still in its nascent stage in consequent of lower demand. The concept of insurance in Pakistan is not acceptable due to many reasons, most prominently being the positioning, marketing and distribution-related issues.

Furthermore, the demand for insurance depends on real disposable income of the prospective policyholder, the individual's preference about the need for financial security, economic environment, interest rates, inflation and insurance premium rates; factors which are all missing in the Pakistani scenario. Then the cultural and religious factors also play an integral part.

Pakistan's insurance sector is reaping the benefits of a growing economy coupled with the insurance sector reforms, soaring trade activities, improving per capita income and the competition among the insurance sector companies, which are driving the current growth in the insurance sector. The gross premiums and net premiums of the insurance industry have shown an increasing trend, thanks to the better marketing environment. Also, the percentage of gross premium to GDP also showed an increasing trend over the period under assessment. This trend is indicative of growth of insurance penetration in the economy.

At present, there are 54 insurance companies, out of which 49 companies offer non-life insurance and 5 offer life insurance services. The non-life insurance industry also includes six companies that provide health insurance coverage as well.

Non-life insurance

There is a monopolistic competition within the non-life insurance sector in Pakistan as there are around 49 non-life insurance companies. The promulgation of insurance ordinance in 2000 and subsequent regulatory changes strengthened the regulatory and supervisory infrastructure for NLI companies. For instance, enhancement in paid-up capital requirement improved the equity structure and reduced the number of non-profitable companies. The non-life insurance sector's profitability has jumped by 17 percent in the 1st half of current year over the same period last year. The demand for auto insurance, marine insurance, and fire insurance augmented owing to availability of consumer financing at low interest rates, unprecedented rise in trade volumes and increased uncertainty due to terrorist attacks in many regions, surge in industrial activity and high growth construction business respectively. The structure of the NLI sector is still skewed. The top 5 companies have more than 70 percent in the overall assets and net premium of the sector.

Claim ratio of the sector depicted a declining trend while combined ratio of the sector stood at 79 percent versus 80 percent in 2006. Moreover, expense ratio of the sector stood at the level of last year, ie 18 percent. With the enhancement in the insurance products, further growth is expected in this sector.

Adamjee Insurance Company Limited (AICL) was incorporated as a public limited company on September 28, 1960. The primary business of the company is to provide general insurance at retail and corporate levels. AICL is listed on Karachi and Lahore stock exchanges of the country. The company is also registered with the Central Depository Company of Pakistan Limited (CDC).

AICL is broadly involved in underwriting the following classes of businesses:

It offers three products in the retail insurance category namely, fire, motor, and bancassurance. For corporate customers, it has engineering, fire, health, livestock, marine, specialized cover and miscellaneous insurance coverage options.

AICL has a diversified client portfolio encompassing the both retail corporate levels. The company insures most of the banks. Moreover, it insures petrochemical and complex industrial risks of very high value. The company has a major market share of engineering business in Pakistan. It provides insurance protection to most of the private sector telecommunication industries. It also insures most of the textile mills, sugar mills and cement factories of the country along with covering the energy risks in Pakistan. Foreign concerns entering Pakistan to execute construction, erection or infrastructure development projects are insured by AICL. Also, the company is the principal insurer in Pakistan against the cases of kidnapping and ransom, professional indemnity, product liability and other specialized lines.

Starting with a paid up capital of Rs 2.5 million, AICL has grown phenomenally to the current paid up capital of Rs 1.022 billion which is the highest amongst all the general insurance companies. AICL enjoys a competitive edge in the insurance industry due its strong asset base, paid up capital, huge reserves, and balanced portfolio mix, steady growth in gross premium and continuous increase in share price at the stock market. These entire attributes place Adamjee Insurance in the top notch of the non-life insurance sector. Based on the amount of assets and total premium, the company can be safely considered as the market leader in non-life insurance with a total share of 42%.

Over the years, AICL has posted a tremendous growth in its net premiums and gross premiums. The demand for insurance is a function of rising GDP and booming manufacturing and service sector of Pakistan. A substantial contribution in the growth was by the motor insurance policy followed by fire insurance policy. The consumer finance explosion in the last four or five years has helped the motor insurance industry to thrive while enhancing the demand for cars. Banks that are offering car finance loans have put together special deals with insurers for their customer base. The growth in the net premium in marine business of Adamjee Insurance Company Limited is attributable to the overall growth in the exports and imports of Pakistan in the current period. Fire and property damage insurance is also on the rise in consequent of a surge in the construction of shopping centers, residential properties, etc. and therefore has provided ongoing opportunities to the insurers. Furthermore, the construction of residential properties for a growing middle-class and their subsequent insurance is being encouraged by an increase in the loan facilities from banks.

Portfolio analysis (CY08-09)

Fire and property

The fire portfolio includes engineering and terrorism business. With a gross premium of Rs 3.553 billion (2008: 3.381 billion), this class showed a growth of 5% since the last year. It contributed 35% towards the total gross premium. The underwriting profit amounted to Rs 243 million (2008: Rs 185 million) which increased by 31%. The underwriting profitability ratio is 21% and the combined ratio has improved to 79% as against 88% in 2008. This is mainly due to decrease in claims by 32%.

Marine, aviation and transport

The slowdown in the economy, especially the imports and exports, affected this class of business, which showed a decrease in the gross premium by 25%. This class contributed 11% towards the total gross premium (2008: 15%). The underwriting results of Rs 223 million depicted remarkable increase of 38% over last year.

The underwriting profitability is 23% and combined ratio under this portfolio is 77% as against 87% in 2008. This improvement is mainly attributable to net claims and net commission which decreased by 32% and 29% respectively.

Motor

Motor business constitutes largest portfolio being 36% of total gross premium (2008: 38%) and 51% of total net premium (2008: 50%) of the company. In 2009, the economy faced the liquidity crunch and banks compelled to restrict their lending. As a result, the automobile sector badly affected in the first half of 2009. The decrease in prices by automobile manufacturers from July 2009 improved the situation.

These circumstances had impacted the company and gross premium decreased by 3%. The combined ratio, however, has improved to 94% as against 98% in 2008, due to which underwriting profits amounting to Rs 191.5 million, recorded an increase of 123% over the last year.

Miscellaneous

Miscellaneous business constitutes health, crop and livestock, travel insurance and other businesses. The gross premium amounted to Rs 1.898 billion showing an increase of 32%. This class contributed 18% towards both total gross premium and the total net premium.

Industry results for 2009

The insurance industry grew at a rate of 6% in the CY09, the same rate observed in the last 2 years. However the industry has a lot of room to grow, taking in account the fact that the industry only represents 0.8 percent penetration rate ie insurance premium represent only 0.8 percent, which is the lowest among the comparable countries. The reason for a somewhat low performance can be associated with the emergence of macroeconomic instability since late 2007, turmoil in global financial markets and dislocation of the domestic equity market along with the deteriorating security situation, posed substantial challenges to the sector in 2008.

According to 2009 data, there are 31 general (non-life) insurance companies operating in the market. Approximately 60 percent of the market share is with the top three players, that are:

-- EFU General Insurance Ltd.

-- Adamjee Insurance Ltd

-- IGI Insurance Ltd

For the purpose of analyzing this sector we have selected three top insurance companies in terms of total assets, namely Security General Insurance, New Jubilee Insurance and Premier Insurance.

These six companies out of 31 in total represent 79% of total industry assets, which signals a very high degree of concentration of resources.

Operating performance

The operating performance in terms of under writing profits to net premium, IGI Insurance and Security General show very high ratios of 41% and 29%, compared to other companies that range between 10% to 1%. However a closer look reveals both IGI and Security General actually performed very badly in terms of net premium earnings of just Rs 614 million and Rs 286 million, respectively compared to net premiums as high as Rs 5.5 billion and Rs 6.8 billion of EFU and Adamjee respectively.

Another look into the operating performance of the companies reveals that although EFU performed very well in terms net premium earned, however it was not very lucky in avoiding the claims on its insurance which were as high as 70% of net premium this year. On the other hand Adamjee and New Jubilee were both efficient in terms of ratio of net claims to net premium of 65% and 62% respectively that resulted in savings. The other three did not earn enough net premiums this year and thus net claims were not much either.

Adamjee Insurance displayed great efficiency in terms its management expenses as well keeping it at a very efficient rate of 29% of net premium earned. Other players also kept it controlled between 24% and 69%.

In terms of commission to net premium, there is not much to compare as all the companies have kept it aligned at 7% to 11%.

Profitability ratios

In terms of profit after tax to net premium, IGI securities had the highest ratio of 43%, while Adamjee and New jubilee were next in line with a ratio of 36% and 29% respectively. Although the ratio is a good indicator of performance a closer look is necessary to get a better picture of performance. IGI this year relied heavily on its investment income, which represented 70% of its net premium, thus despite having poor underwriting results, the ratio was still healthy. However IGI's performance in terms of investment income to investment assets wasn't highly admirable with a ratio of only 4%, thus signifying IGI's performance this year both in terms of net premium earned and investment income was dismal.

As can be seen from the graph the best performer of all is clearly Adamjee as all its ratios seem to be balanced, because of which it has the best investment income to investment assets ratio of 23%. EFU, although possessing the same strength as Adamjee in terms of assets, did not live up to expectations, performing low on all accounts. However performance of New Jubilee insurance must applauded with a healthy investment income and net premium.

A much better measure of performance in these circumstances shall be return on assets that shows a much truer picture. Adamjee is best performer with 11% return on assets, and New Jubilee is the second best with 10% while the ratios of all other players are disappointing.

Market value

Adamjee's superiority in the market is evident by the studying the EPS and the share market price, with EPS of Rs 21.71 and share price of Rs 127.5. EFU although stronger that Adamjee in terms of total assets still lags behind in both EPS and share price as its efficiency keeps on declining and so do the future expectations of earnings. Nonetheless performance of NJI must be commended as it only represents 6% of the market but still its share price is comparable to big players such as EFU who represent 24% of the market. Thus going forward there is a huge potential for growth for Adamjee and especially NJI.

Recent performance Adamjee's performance in CY09 was nothing short of spectacular given the context of the industry and struggling economy. The profit after tax, which represented 36% of the net premium, grew by an amazing 124% in CY09. The reason for such fabulous growth in profits was in summary attributed to a rise in investment income and also tremendous efficiency shown in keeping down the expenses.

===================================================
Financial Results                 2009         2008
===================================================
Total Assets                    21,612       19,004
Equity                          10,781        8,559
Gross Premium Underwritten      10,321       10,205
Underwriting Results               679          367
Investment Income                2,479        1,098
Profit After Tax                 2,434        1,099
===================================================

The distribution of revenue in the calendar year 2009 changed from the last year, as contribution of investment income as revenue source increased from 13% to 27%.

Net premium revenue represented a lesser percentage (72%) of total revenue compared to last year when 85% of the total revenue was net premium.

However it must be noted that the sharp increase in investment income over shadowed the fall in premium earned that was 9% lower than the last year. The reason for higher investment income this year can be attributed to the increased investment in one-year treasury bills and also to the fall in provision made for impairment in value of investment.

Nevertheless the decrease in net premium cannot be ignored as it represents the greatest chunk of revenue Admajee. However the slow growth in the overall industry and present economic turmoil has been a primary reason for why Adamjee's net premiums decreased.

Furthermore, as a positive sign, the net claims decreased by 14% due to a much better situation of the country in terms of law and order compared to the last year. This resulted in an 85% improvement in underwriting results this year.

Investment income

The return from available for sale AFS securities contributed entirely to the investment income while there was no return from the held to maturity securities. In available for sale securities the return on both fixed income and TFCs declined by 42.1% and 8.3% respectively. On the other hand the dividend income increased by 6.64% and gain on sale for AFS securities increased by 192.35%. This resulted in increase in net investment income by 99.44%.

Increase in demand for insurance as discussed earlier consequently boosted the revenue generating from the premiums, rose in FY06. During FY06, fire and motor insurance contributed 37% and 31% towards the total insurance policy portfolio respectively. AICL enjoys the competitive advantage of having a diversified set of insurance policies. Thus, any set back in one revenue source is offset by the other source of premiums.

While the premiums increased on the one hand, the claim rate also increased resulting in lower growth in underwriting profits as a percentage of total premiums. The underwriting profits increased at a decreasing rate with the major claims emanating from fire and property damage. The management of AICL is trying to bring down the claim ratio through better risk management and diversification. Furthermore, the claims for motor insurance are also on a higher side as reflected in higher traffic incidents because of irregularities in traffic management, violation of traffic rules and rising theft cases. AICL has taken strict measures to improve the quality of business and to curtail the claim ratio by improving controls in the motor claims settlement procedure.

A thorough study of the financial statements reveals that the best policy for Adamjee Insurance is Marine insurance policy as the claim rates are on the lower side while the high risk attached enables the company to fetch higher premiums. In the motor insurance, the higher premiums have offset the high proportion of claims coming from the policyholders.

The underwriting profits and the net premiums registered an increase of 55.6% and 10.6% respectively in June 07 as compared to that in June 06. Being a relatively old company, AICL enjoys a large network of clients who trust the service of AICL. This also justifies the increasingly higher growth margins of the company.

Despite an upsurge in the total claims, most noticeably the motor claims, AICL has been able to perform well as far as management of expenses is concerned. The high net premium charges against the higher risk have mitigated the effect of higher claims. As a result net loss ratio has posted a declining trend. The expense ratio as measure by total underwriting expenses including commissions to net premiums has also registered a declining trend continuing in FY07 as well, owing to better management and efficiency on part of the company.

The combined ratio is the sum of loss ratio and expense ratio. It is a measure of insurer profitability, which does not consider investment income and takes into account only the income generated by core business of the insurance company. AICL showed posted declining tendency in combined ratio in FY05. It now hovers around 91% after posting a marked decline in combined ratio in FY06 and indicates that the company is making underwriting profit. Before that it was paying out more money in claims that it was receiving from premiums.

Other comprehensive indicator of profitability is the net income margin as a percentage of total premiums. Income margin too has been favorable for the company as a result of higher income coming from investment portfolio. Higher returns from capital gains have offset the higher claims and expenses in favor of the company. Thus, AICL has overall posted a healthy trend in its profitability measures.

AICL has carried out its major investment in shares of listed companies. The stock portfolio is well-diversified encompassing shares of both volatile and non-volatile sectors. Since the Stock Market of Pakistan is a characteristic of changing political and international scenarios, market risk is pervasively high for the company. 69% of the company's investment income comes through capital gains and dividend income through long-term holdings, which depicts the unstable nature of AICL's income. On a more holistic note, AICL has a well-diversified investment portfolio with all three modes of generating income namely dividend income, interest income and income from capital gains.

Now that the tax has been exempted from the capital gains, AICL will be the major beneficiary. With the stock exchange posting a bullish trend over the years, AICL has been able to reap benefits through high capital gains and dividend income. However, The increased instability in the country will have a magnified effect on the investment income of AICL since it greatly relies on the returns from investment in KSE, which is undergoing a bearish trend these days.

Investment income per unit of investment asset has increased tremendously over the years. The dip in the ratio was seen in FY05 and can be attributed to a greater increase in the investment assets most noticeably marketable securities. Investment income as a percentage of net premiums has also shown an increasing trend and substantiates the increasing proportion of returns generated through investment portfolio.

Adamjee Insurance has decreased its reliance on debt, which is evident from the debt management graph. This augurs well for the company, as the financial risk has been mitigated considerably. With better yields and strong market performance, AICL is now diverting its focus on equity financing. But with the shaky investors' confidence seen these days owing to instability and political turmoil, AICL might have to shift towards debt financing adding to the financial risk for the company as people (both local and foreign investors) are reluctant to invest.

The capital adequacy indicators deal with the regulatory aspect with emphasis on paid-up capital and total equity. AICL enjoys high capital adequacy ratios owing to increase in paid-up capital requirement, retained earnings from increased profit levels and increased accumulated net surplus. The declining paid-up capital to equity ratio is due to high denominator effect because of the reasons discussed above. Thus, AICL has fulfilled the capital requirements as laid down in the regulatory framework. In fact, it enjoys the highest paid-up capital in the industry and thus enjoys leadership in this regard.

With its aggressive plans, Adamjee Insurance is well positioned to reap the benefits of the rising insurance market so as to augment its market share. Besides, the company's equity base and balance sheet footing is also getting stronger. This in turn is assisting AICL to reap benefits in the stock market. The company's shares are being traded on KSE and LSE at higher P/E multiples and truly reflects investors' confidence in the company.

COURTESY: Economics and Finance Department, Institute of Business Administration, Karachi
Title: Re: AICL -- Adamjee Insurance
Post by: M&M on April 24, 2010, 11:58:51 AM
(http://img202.imageshack.us/img202/4345/aiclfibo1.png)


Do you see what I see ?
BUY.
Title: Re: AICL -- Adamjee Insurance
Post by: M&M on April 25, 2010, 11:04:10 AM
I say wait for the 1st quarter result due monday.
ekka dukka chor ker hamesha results waaley din red zone per close hua hey 'AICL'

Better wait for an apparent bullish signal in the next week.
btw the RSI(15) is at compelling 31.38

goodluck.
Title: Re: AICL -- Adamjee Insurance
Post by: M&M on April 26, 2010, 03:28:02 PM
Aaag lag gayi kia ?  >:(
Title: Re: AICL -- Adamjee Insurance
Post by: Farzooq on April 26, 2010, 03:33:04 PM
Aaag lag gayi kia ?  >:(


charts per aag pehle hi se lagi howi thi
Title: Re: AICL -- Adamjee Insurance
Post by: M&M on April 26, 2010, 03:34:26 PM
2.20 eps

[kse site is so flooded]
Title: Re: AICL -- Adamjee Insurance
Post by: Farzooq on April 26, 2010, 03:43:31 PM
2.20 eps

[kse site is so flooded]

2.2 basic which will go further down to 1.98 as aicl has issued 10% bonus
Title: Re: AICL -- Adamjee Insurance
Post by: M&M on April 26, 2010, 08:34:20 PM
2.20 eps

[kse site is so flooded]

2.2 basic which will go further down to 1.98 as aicl has issued 10% bonus

2.2 basic eps is way below estimates - the story would have been different if the earnings were up to the mark, as the fall was witnessed in the ending when the results were disclosed.
For the meantime, let's drop this one.  :arrowhead:

Title: Re: AICL -- Adamjee Insurance
Post by: M&M on April 26, 2010, 08:46:22 PM
Farzooq, 'AICL' ke outstanding shares kitney hey ab ?
123.7 Million key hisaab se diluted 2/s banega - ye bonus adjusted nahin hey kia ?
Title: Re: AICL -- Adamjee Insurance
Post by: Farzooq on April 26, 2010, 08:57:38 PM
Farzooq, 'AICL' ke outstanding shares kitney hey ab ?
123.7 Million key hisaab se diluted 2/s banega - ye bonus adjusted nahin hey kia ?

2.2 is basic eps and not diluted
Title: Re: AICL -- Adamjee Insurance
Post by: M&M on April 26, 2010, 09:00:53 PM
Farzooq, 'AICL' ke outstanding shares kitney hey ab ?
123.7 Million key hisaab se diluted 2/s banega - ye bonus adjusted nahin hey kia ?

2.2 is basic eps and not diluted

2.2 Basic and 2.0 diluted

Profit after tax is 247.562M and O/s is 123.7M [Bonus Adjusted]

(http://img203.imageshack.us/img203/5803/aiclos.jpg)

Title: Re: AICL -- Adamjee Insurance
Post by: Farzooq on May 03, 2010, 11:45:17 AM
Is it good to hold AICL and take the dividend ??? please advise. thanks

sell it before xd

Aaag lag gayi kia ?  >:(


charts per aag pehle hi se lagi howi thi

below 100
Title: Re: AICL -- Adamjee Insurance
Post by: Farzooq on May 14, 2010, 09:51:46 AM

AICL: 1Q2010 detailed accounts review/‘Buy’

Adamjee Insurance (AICL) recently announced its
1Q2010 results posting earnings of Rs248mn down
44%YoY. The main reason for the decline in
earnings was the absence of ‘reversal of provision for
Available for sale (AFS) investments’ during the
period under review.

Motor segment drives underwriting profits
The most encouraging aspect of AICL’s results in 1Q2010
has been the impressive performance of its core business.
The turnaround in the auto industry which registered a
volumetric growth of 79% along with revival in the car
refinancing schemes from banks in particular propelled AICL’s
underwriting profits Rs232mn, up 17%YoY. Though gross
premium for the segment registered a growth of 23%YoY to
Rs1bn, a 951bps fall in claim ratio to 65% further supported
the profitability of the company.
On the whole the company continued with its commendable
underwriting results where the total claim ratio and the
combined ratio fell to 62% and 87% respectively from 64%
and 89% in 1Q2009.
Segment wise claims ratio
1Q2010 1Q2009
Fire and Property 56% 43%
Marine & Aviation 43% 34%
Motor 65% 74%
Misc. 76% 76%
Total 62% 64%
Source: Company accounts & JS Research

Investment income
In contrast to the core business, AICL’s investment income
fell by 43%YoY to Rs221mn mainly due to a one off
impairment provision reversal worth Rs231mn recognized in
1Q2009. Despite lower return from its investments, the equity
portfolio still remains a major source of attraction and value
for AICL. According to our estimates, the equity portfolio
alone is currently worth Rs7.4bn (Rs60 per share).
1Q2010 Financial highlights
(Rs mn) 1Q2010 1Q2009 ?%
Net premium 1 ,722 1 ,780 -3%
Net claims 1 ,067 1 ,139 -6%
Expenses 3 08 2 79 10%
Net commission 1 15 1 63 -29%
Underwriting result 2 32 1 99 17%
Investment income 2 21 3 85 -43%
Rental income 1 0 347%
Other income 3 8 4 4 -13%
4 92 6 28 -22%
General, admin & other expense 1 53 1 47 4%
Exchanges gain/ (loss)-net 0 0 308%
Finance Charge on lease rentals 5 - NM
Profit Before Taxation 3 34 4 80 -30%
Tax 8 7 3 9
Profit After Taxation 2 48 4 41 -44%
Earning per share 2 .00 3 .57 -44%
Source: Company accounts

Recommendation: ‘Buy’ maintained
AICL is one of the few insurance companies in Pakistan
which has worked tremendously to improve its insurance
business and focus on writing qualitative premiums. This is
reflected in the company’s 1Q2010 underwriting margins
which improved by 230bps to 13.5%. Moreover, the
company’s Middle East operations, though holding a smaller
market share, provide healthy underwriting margins to AICL.
Going forward, we believe improved economic fundamentals
and reduced business risk remain major positives for AICL’s
core business while our positive outlook for equity markets
also helps us reiterate our liking for the scrip. Currently, the
scrip is trading at a 2011F PE and PBV of 6.3x and 0.9x
respectively and we maintain our ‘Buy’ call on the scrip.
Title: Re: AICL -- Adamjee Insurance
Post by: mohammad.tahir.siddiqui on June 01, 2010, 01:31:40 AM
buy call bharlo aicl jitna le sakte ho le lo.
Title: Re: AICL -- Adamjee Insurance
Post by: mohammad.tahir.siddiqui on June 10, 2010, 12:25:08 PM
aicl ko kia ho gaya hai ye 400rs ka bhi hota tha
Title: Re: AICL -- Adamjee Insurance
Post by: M&M on June 10, 2010, 12:28:31 PM
aicl ko kia ho gaya hai ye 400rs ka bhi hota tha

shuru to 5 se hua tha na haha .. inna lillahi wa inna ilaihi rajioon.  :laugh:
Title: Re: AICL -- Adamjee Insurance
Post by: mohammad.tahir.siddiqui on June 10, 2010, 01:02:47 PM
aicl target price 150rs buy call.
Title: Re: AICL -- Adamjee Insurance
Post by: Farzooq on June 15, 2010, 11:14:22 AM
Insurance: ADAMJEE INSURANCE COMPANY LIMITED - Analysis of Financial Statements Financial Year 2004 - 1Q Financial Year 2010
OVERVIEW (June 14 2010): The insurance industry of Pakistan forms a meager part of the GDP as compared to other nations of the world. With a very low penetration level, the industry is still in its nascent stage in consequent of lower demand.

The concept of insurance in Pakistan is not acceptable on account of many reasons; most prominently being the positioning, marketing and distribution related issues. Furthermore, the demand for insurance depends on real disposable income of the prospective policyholder, the individual's preference about the need for financial security, economic environment, interest rates, inflation and insurance premium rates; factors which are all missing in the Pakistani scenario. Then the cultural and religious factors also play an integral part.

Pakistan's insurance sector is reaping the benefits of a growing economy coupled with the insurance sector reforms, soaring trade activities, improving per capita income and competition among insurance sector companies, which are driving the current growth in the insurance sector. The gross premiums and net premiums of the insurance industry have shown an increasing trend, thanks to the better marketing environment. Also, the percentage of gross premium to GDP also showed an increasing trend over the period under assessment. This trend is indicative of growth of insurance penetration in the economy.

At present there are 54 insurance companies out of which 49 companies offer non-life insurance and 5 offer life insurance services. The non-life insurance industry also includes six companies that provide health insurance coverage as well.

RECENT RESULTS 1Q'10:

The Gross Premium recorded a growth of 10% and underwriting results depict an increase of 17% over the corresponding period of last year to be Rs 232 million. The Net claims have reduced by 6% from the same period last year to be Rs 1.06 billion and combined ratio has improved from 89% in the corresponding quarter of last year to 87% in this quarter.

The company's investment income shows a decrease of 43% to Rs 221 million as compared to last year, which is mainly due to the 'Reversal of provision for Available for sale investments' in the first quarter of 2009 which amounted to Rs 231 million. This quarter there is a charge of Rs 5 million. It is mainly due to his decline that the PAT has declined to Rs 247 million as compared to Rs 441 million in 1Q'09. EPS of Rs 2.2 was recorded as compared to Rs 3.93 in 1Q'09.

NON-LIFE INSURANCE:

There is a monopolistic competition within the non-life insurance sector in Pakistan as there are around 49 non-life insurance companies. The promulgation of insurance ordinance in 2000 and subsequent regulatory changes strengthened the regulatory and supervisory infrastructure for NLI companies. For instance, enhancement in paid-up capital requirement improved the equity structure and reduced the number of non-profitable companies.

The non-life insurance sector's profitability has jumped by 17 percent in the 1st half of current year over the same period last year. The demand for auto insurance, marine insurance, and fire insurance augmented owing to availability of consumer financing at low interest rates, unprecedented rise in trade volumes and increased uncertainty due to terrorist attacks in many regions, surge in industrial activity and high growth construction business respectively. The structure of the NLI sector is still skewed. The top 5 companies have more than 70 percent in the overall assets and net premium of the sector.

Claim ratio of the sector depicted a declining trend while combined ratio of the sector stood at 79 percent versus 80 percent in 2006. Moreover, expense ratio of the sector stood at the level of last year, ie 18 percent. With the enhancement in the insurance products, further growth is expected in this sector.

Adamjee Insurance Company Limited (AICL) was incorporated as a public limited company on September 28, 1960. The primary business of the company is to provide General Insurance at retail and corporate levels. AICL is listed on Karachi and Lahore stock exchanges of the country. The company is also registered with the Central Depository Company of Pakistan Limited (CDC). AICL broadly is involved in underwriting the following classes of businesses:

AICL offers three products in the retail insurance category namely, Fre, Motor, and Bancassurance. While for corporate customers it has Engineering, Fire, Health, Livestock, Marine, Specialized Cover, and Miscellaneous insurance coverage options.

AICL has a diversified client portfolio encompassing both retail corporate levels. The company insures most of the banks. Moreover, it insures petrochemical and complex industrial risks of very high value. The company has a major market share of engineering business in Pakistan. It provides Insurance protection to most of the private sector telecommunication industries. It also insures most of the textile mills, sugar mills and cement factories of the country along with covering the energy risks in Pakistan. Foreign concerns entering Pakistan to execute construction, erection or infrastructure development projects are insured by AICL. Also, the company is the principal insurer in Pakistan for Kidnap & Ransom, Professional Indemnity, Product Liability and other Specialized lines.

Starting with a paid up capital of Rs 2.5 million, AICL has grown phenomenally to the current paid up capital of Rs 1.022 billion which is the highest amongst all the general insurance companies. AICL enjoys a competitive edge in the insurance industry due its strong asset base, paid up capital, huge reserves, and balanced portfolio mix, steady growth in gross premium and continuous increase in share price at the stock market. All of these attributes place Adamjee Insurance in the top notch of the non-life insurance sector. Based on the amount of assets and total premium, the company can be safely considered as the market leader in non-life insurance with a total share of 42%.

Over the years, AICL has posted a tremendous growth in its net premiums and gross premiums. The demand for insurance is a function of rising GDP and booming manufacturing and service sector of Pakistan. A substantial contribution in the growth was by the motor insurance policy followed by fire insurance policy. The consumer finance explosion in the last four or five years has helped the motor insurance industry to thrive while enhancing the demand for cars. Banks that are offering car finance loans have put together special deals with insurers for their customer base.

The growth in the net premium in marine business of Adamjee Insurance Company Limited is attributable to the overall growth in the exports and imports of Pakistan in the current period. Fire and property damage insurance is also on the rise in consequent of a surge in the construction of shopping centers, residential properties etc and therefore has provided ongoing opportunities for insurers. Furthermore, the building of residential properties for a growing middle class and their subsequent insurance is being encouraged by an increase in loan facilities from banks.

PORTFOLIO ANALYSIS (CY08 - CY09)

FIRE AND PROPERTY

The Fire portfolio includes engineering and terrorism business. With a gross premium of Rs 3.553 billion (2008: 3.381 billion), this class showed a growth of 5% since last year. It contributed 35% towards the total gross premium.

The underwriting profit amounted to Rs 243 million (2008: Rs 185 million) which increased by 31%. The underwriting profitability ratio is 21% and the combined ratio has improved to 79% as against 88% in 2008. This is mainly due to decrease in claims by 32%.

MARINE, AVIATION AND TRANSPORT

The slowdown in economy specially imports and exports affected this class of business which showed a decrease in gross premium by 25%. This class contributed 11% towards the total gross premium (2008: 15%). The underwriting results of Rs 223 million depicted remarkable increase of 38% over last year.

The underwriting profitability is 23% and combined ratio under this portfolio is 77 % as against 87% in 2008. This improvement is mainly attributable to net claims and net commission which decreased by 32% and 29% respectively.

MOTOR

Motor business constitutes largest portfolio being 36% of total gross premium (2008: 38%) and 51% of total net premium (2008: 50%) of the company. In 2009, the economy faced liquidity crunch and banks restricted their lending. As a result the automobile sector remained slow during first half of 2009. The decrease in prices by automobile manufacturers from July 2009 improved the situation.

These circumstances had an impact on your company and gross premium decreased by 3%. The combined ratio however has improved to 94% as against 98% in 2008, due to which underwriting

profits amounting to Rs 191.5 million, recorded an increase of 123% over last year.

MISCELLANEOUS

Miscellaneous business constitutes health, crop, livestock, travel insurance and other lines of business. The gross premium amounted to Rs 1.898 billion showing an increase of 32%. This class contributed 18% towards both total gross premium and the total net premium.

Industry Results for 2009

The insurance industry grew at a rate of 6% in the CY09, the same rate observed in the last 2 years. However the industry has a lot of room to grow, taking in account the fact that the industry only represents 0.8 percent penetration rate ie insurance premium represent only 0.8 percent, which is the lowest among comparable countries. The reason for a somewhat low performance can be associated with the emergence of macroeconomic instability since late 2007, turmoil in global financial markets and dislocation of the domestic equity market along with the deteriorating security situation, posed substantial challenges to the sector in 2008.

According to the 2009 data, there are 31 general (non-life) insurance companies operating in the market. Approximately 60 percent of the market share is with the top three players; that are namely:

-- EFU General Insurance Ltd

-- Adamjee Insurance Ltd

-- IGI Insurance Ltd

For the purpose of analysing this sector I have selected three top insurance companies in addition to the three mentioned above. The six companies are ranked as the top companies in terms of total assets possessed. Three additional companies are as follows:

-- Security General Insurance

-- New Jubilee Insurance

-- Premier Insurance

These six companies out of 31 in total represent 79% of total industry assets, which signals a very high degree of concentration of resources.

OPERATING PERFORMANCE

The operating performance in terms of under writing profits to net premium, IGI Insurance and Security General show very high ratios of 41% and 29%, compared to other companies that range between 10% to 1%. However a closer look reveals both IGI and Security General actually performed pretty badly in terms of net premium earnings in rupees of just Rs 614 million and Rs 286 million respectively compared to net premiums as high as Rs 5.5 billion and Rs 6.8 billion of EFU and Adamjee respectively.

Another look into the operating performance of the companies reveals that although EFU performed very well in terms net premium earned, however it was not very lucky in avoiding the claims on its insurance which were as high as 70% of net premium this year. On the other hand Adamjee and New Jubilee were both efficient in terms of ratio of net claims to net premium of 65% and 62% respectively that resulted in savings. The other three did not earn enough net premiums this year and thus net claims weren't much either.

Adamjee Insurance displayed great efficiency in terms its management expenses as well keeping it at a very efficient rate of 29% of net premium earned. Other players also kept it controlled between 24% and 69%.

In terms of commission to net premium there is not much to compare as all the companies have kept it aligned at 7% to 11%.

PROFITABILITY RATIOS

In terms Profit after tax to Net Premium IGI securities had the highest ratio of 43%, while Adamjee and New jubilee were next in line with a ratio of 36% and 29% respectively. Although the ratio is a good indicator of performance a closer look is necessary to get a better picture of performance. IGI this year relied heavily on its investment income which represented 70% of its net premium, thus despite having poor underwriting results the ratio was still healthy. However IGIs performance in terms of investment income to investment assets wasn't highly admirable with a ratio of only 4%, thus signifying IGIs performance this year both in terms of net premium earned and investment income was dismal.

As can be seen from the graph the best performer of all is clearly Adamjee as all its ratios seem to be balanced, because of which it has the best investment income to investment assets ratio of 23%. EFU, although possessing the same strength as Adamjee in terms of assets, did not live up to expectations, performing low on all accounts. However performance of New Jubilee insurance must applauded with a healthy investment income and net premium.

A much better measure of performance in these circumstances shall be return on assets that shows a much truer picture. Adamjee is best performer with 11% return on assets, and New Jubilee is the second best with 10% while the ratios of all other players are disappointing.

MARKET VALUE

Adamjee's superiority in the market is evident by the studying the EPS and the share market price, with EPS of Rs 21.71 and share price of Rs 127.5. EFU although stronger that Adamjee in terms of total assets still lags behind in both EPS and share price as its efficiency keeps on declining and so do the future expectations of earnings. Nonetheless performance of NJI must be commended as it only represents 6% of the market but still its share price is comparable to big players such as EFU who represent 24% of the market. Thus going forward there is a huge potential for growth for Adamjee and especially NJI.

ADAMJEE RECENT PERFORMANCE:

Adamjee's performance in CY09 was nothing short of spectacular given the context of the industry and struggling economy. The profit after tax which represented 36% of the net premium grew by an amazing 124% in CY09. The reason for such fabulous growth in profits was in summary attributed to a rise in investment income and also tremendous efficiency shown in keeping down the expenses.

=================================================
Financial Results                  2009      2008
=================================================
Total Assets                     21,612    19,004
Equity                           10,781     8,559
Gross Premium Underwritten       10,321    10,205
Underwriting Results                679       367
Investment Income                 2,479     1,098
Profit After Tax                  2,434     1,099
=================================================
Net premium revenue represented a lesser precentage (72%) of total revenue comapred to last year when 85% of the total revenue was net premium.

However it must be noted that the sharp increase in investment income over shadowed the fall in premium earned that was 9% lower than the last year. The reason for higher investment income this year can be attributed to the increased investment in 1 year treasury bills and also to the fall in provision made for impairment in value of investment.

Neverthess the decrease in net premium cannot be ignored as it represents the greatest chunk of revenue Admajee. However the slow growth in the overall industry and present economic turmoil has been a primary reason for why Adamjee's net premiums decreased.

Furthermore as a positive sign the net claims decreased by 14%, due to a much better situation of the country in terms law & order comapred with the last year. This resulted in a 85% improvement in underwriting results this year.

INVESTMENT INCOME

The return from available for sale AFS securities contributed entirely to the investment income while there was no return from the held to maturity securities. In available for sale securities the return on both fixed income and TFCs declined by 42.1% and 8.3% respectively. On the other hand the dividend income increased by 6.64% and gain on sale for AFS securities increased by 192.35%. This resulted in increase in net investment income by 99.44%.

Increase in demand for insurance as discussed earlier consequently boosted the revenue generating from the premiums rose in FY'06. During FY'06 fire and motor insurance contributed 37% and 31% towards the total insurance policy portfolio respectively. AICL enjoys the competitive advantage of having a diversified set of insurance policies. Thus, any set back in one revenue source is offset by the other source of premiums.

While the premiums increased on the one hand, the claim rate also increased resulting in lower growth in underwriting profits as a percentage of total premiums. The underwriting profits increased at a decreasing rate with the major claims emanating from fire and property damage. The management of AICL is trying to bring down the claim ratio through better risk management and diversification. Furthermore, the claims for motor insurance are also on a higher side as reflected in higher traffic incidents because of irregularities in traffic management, violation of traffic rules and rising theft cases. AICL has taken strict measures to improve the quality of business and to curtail the claim ratio by improving controls in the motor claims settlement procedure.

A thorough study of the financial statements reveals that the best policy for Adamjee Insurance is Marine insurance policy as the claim rates are on the lower side while the high risk attached enables the company to fetch higher premiums. In the motor insurance, the higher premiums have offset the high proportion of claims coming from the policyholders.

The underwriting profits and the net premiums registered an increase of 55.6% and 10.6% respectively in June'07 as compared to that in June'06. Being a relatively old company, AICL enjoys a large network of clients who trust the service of AICL. This also justifies the increasingly higher growth margins of the company.

Despite an upsurge in the total claims, most noticeably the motor claims, AICL has been able to perform well as far as management of expenses is concerned. The high net premiums charges against the higher risk have mitigated the effect of higher claims. As a result net loss ratio has posted a declining trend. The expense ratio as measure by total underwriting expenses including commissions to net premiums has also registered a declining trend continuing in FY'07 as well, owing to better management and efficiency on part of the company.

The combined ratio is the sum of loss ratio and expense ratio. It is a measure of insurer profitability, which does not consider investment income and takes into account only the income generated by core business of the insurance company. AICL showed posted declining tendency in combined ratio in FY'05. It now hovers around 91% after posting a marked decline in combined ratio in FY'06 and indicates that the company is making underwriting profit. Before that it was paying out more money in claims that it was receiving from premiums.

Other comprehensive indicator of profitability is the net income margin as a percentage of total premiums. Income margin too has been favourable for the company as a result of higher income coming from investment portfolio. Higher returns from capital gains have offset the higher claims and expenses in favour of the company. Thus, AICL has overall posted a healthy trend in its profitability measures.

AICL has carried out its major investment in shares of listed companies. The stock portfolio is well-diversified encompassing shares of both volatile and non-volatile sectors. Since the Stock Market of Pakistan is a characteristic of changing political and international scenarios, market risk is pervasively high for the company. 69% of the company's investment income comes through capital gains and dividend income through long-term holdings, which depicts the unstable nature of AICL's income. On a more holistic note, AICL has a well-diversified investment portfolio with all three modes of generating income namely dividend income, interest income and income from capital gains. Now that the tax has been exempted from the capital gains, AICL will be the major beneficiary. With the stock exchange posting a bullish trend over the years, AICL has been able to reap benefits through high capital gains and dividend income. However, The increased instability in the country will have a magnified effect on the investment income of AICL since it greatly relies on the returns from investment in KSE, which is undergoing a bearish trend these days.

Investment income per unit of investment asset has increased tremendously over the years. The dip in the ratio was seen in FY'05 and can be attributed to a greater increase in the investment assets most noticeably marketable securities. Investment income as a percentage of net premiums has also shown an increasing trend and substantiates the increasing proportion of returns generated through investment portfolio.

Adamjee Insurance has decreased its reliance on debt evident from the debt management graph. This augers well for the company, as the financial risk has been mitigated considerably. With better yields and strong market performance, AICL is now diverting its focus on equity financing. But with the shaky investors' confidence seen these days owing to instability and political turmoil, AICL might have to shift towards debt financing adding to the financial risk for the company as people (both local and foreign investors) are reluctant to invest.

The capital adequacy indicators deal with the regulatory aspect with emphasis on paid-up capital and total equity. AICL enjoys high capital adequacy ratios owing to increase in paid-up capital requirement, retained earnings from increased profit levels and increased accumulated net surplus. The declining paid-up capital to equity ratio is due to high denominator effect because of the reasons discussed above. Thus, AICL has fulfilled the capital requirements as laid down in the regulatory framework. In fact, it enjoys the highest paid-up capital in the industry and thus enjoys leadership in this regard.

With its aggressive plans, Adamjee Insurance is well positioned to reap the benefits of the rising insurance market so as to augment its market share. Besides, the company's equity base and balance sheet footing is also getting stronger. This in turn is assisting AICL to reap benefits in the stock market. The company's shares are being traded on KSE and LSE at higher P/E multiples and truly reflects investors' confidence in the company.

COURTESY: Economics and Finance Department, Institute of Business Administration, Karachi
Title: Re: AICL -- Adamjee Insurance
Post by: Farzooq on June 18, 2010, 12:43:57 PM
AICL: Target Price Revision

We have revised our investment case for Adamjee Insurance Company Ltd. (AICL) to account for 1) conservative capital market assumptions and 2) revised business outlook on account of 1QCY10 results, which present an interesting picture of both growth and risk. For CY10E, we expect the company to post earnings of PkR761mn (EPS-PkR6.15). The Federal Budget FY11 brought an end to the exemption from tax on capital gains and since investment income has generally made up the majority of total earnings, we expect capital gains tax (CGT) on capital gains (if booked within 12 months of acquisition) to keep bottomline growth in check. In this regard, we model a higher effective tax rate of ~18%. However, we remain positive on AICL's medium term prospects as it expands its regional footprint and benefits from an improving domestic economy. At current levels, AICL offers an upside of 12% to our revised SoP-based target price of PkR98/share - Accumulate!
Title: Re: AICL -- Adamjee Insurance
Post by: mohammad.tahir.siddiqui on June 29, 2010, 01:33:25 PM
80rs is very attractive rate buy this time.in my opinion. :biggthumpup:
Title: Re: AICL -- Adamjee Insurance
Post by: invincible on June 29, 2010, 01:48:21 PM
80rs is very attractive rate buy this time.in my opinion. :biggthumpup:
 

Nope dear, :smilestar:. 74 is the level where it will bottom out. so w8 little bit  :fingerscrossed1:
Title: Re: AICL -- Adamjee Insurance
Post by: Trademaster on June 30, 2010, 11:35:50 AM
Salam.

Pls tell me anyone would AICL cross 100 in near future?

Any bad news regarding AICL thts why it is so low?
Title: Re: AICL -- Adamjee Insurance
Post by: Farzooq on June 30, 2010, 01:21:28 PM
Salam.

Pls tell me anyone would AICL cross 100 in near future?

Any bad news regarding AICL thts why it is so low?

insurance sector profits will now get hit due to cgtax
Title: Re: AICL -- Adamjee Insurance
Post by: mohammad.tahir.siddiqui on July 03, 2010, 03:57:52 PM
ye 100rs kab ae ga.
Title: Re: AICL -- Adamjee Insurance
Post by: Farzooq on July 13, 2010, 11:47:10 AM

buy aicl with stop below 80
current rate 81
Title: Re: AICL -- Adamjee Insurance
Post by: Farzooq on July 13, 2010, 12:01:10 PM

buy aicl with stop below 80
current rate 81

82  :shoaby:
Title: Re: AICL -- Adamjee Insurance
Post by: saagar on July 13, 2010, 12:41:20 PM

buy aicl with stop below 80
current rate 81

82  :shoaby:
:clap1:
Title: Re: AICL -- Adamjee Insurance
Post by: Ashar Shaikh on July 13, 2010, 10:35:21 PM
bought 5000 today, It shall rise as per its past behavior on rising market
Title: Re: AICL -- Adamjee Insurance
Post by: KhanBhaee on July 14, 2010, 09:20:23 AM
bought 5000 today, It shall rise as per its past behavior on rising market
i have also bought yesterday :console:
Title: Re: AICL -- Adamjee Insurance
Post by: Farzooq on July 14, 2010, 09:59:34 AM

buy aicl with stop below 80
current rate 81

83.5 laoo cap kar do isay
Title: Re: AICL -- Adamjee Insurance
Post by: KhanBhaee on July 14, 2010, 10:11:45 AM

buy aicl with stop below 80
current rate 81

83.5 laoo cap kar do isay
ma na tu 83.30 pr batch deya ha :smilestar:
Title: Re: AICL -- Adamjee Insurance
Post by: shahid123456 on July 14, 2010, 02:19:49 PM

buy aicl with stop below 80
current rate 81

83.5 laoo cap kar do isay

85.24  :shoaby: :shoaby: :shoaby:
Locked  :clap1: :clap1:

V gud call farzooq right on spot  :goodc:
Title: Re: AICL -- Adamjee Insurance
Post by: KhanBhaee on July 14, 2010, 02:22:06 PM

buy aicl with stop below 80
current rate 81

83.5 laoo cap kar do isay
:clap1: :goodc: :clap1:
Title: Re: AICL -- Adamjee Insurance
Post by: Research Doctor on July 14, 2010, 02:25:22 PM
SHAHID BHAI u there???? silence for so many days?????? i thought u left the market due to CGT fears............ ok nice to see u and keep sharing
Title: Re: AICL -- Adamjee Insurance
Post by: Farzooq on July 14, 2010, 02:35:49 PM

buy aicl with stop below 80
current rate 81

83.5 laoo cap kar do isay

cap  :banana:
Title: Re: AICL -- Adamjee Insurance
Post by: shahid123456 on July 14, 2010, 02:40:47 PM
SHAHID BHAI u there???? silence for so many days?????? i thought u left the market due to CGT fears............ ok nice to see u and keep sharing

 :thanks: thanks RD bro for remembring me, i was busy in some official assignments and was not able to give much time to the market, visited both the forums on and off during this interval and read you comments over them, and I must say that MashaAllah you have develop great intellect and wisdom in the stocks. May Allah bless you with all the happiness of the world.

Bro CGT is dere and we have to live with it, it is just like that when back in 2000 GST was imposed by Musharaf and too much hue and cry was there but what happened its almost a decade and we are living with it, so CGT se dar ke kia bhagna.....
Title: Re: AICL -- Adamjee Insurance
Post by: Research Doctor on July 14, 2010, 03:11:41 PM
SHAHID BHAI u there???? silence for so many days?????? i thought u left the market due to CGT fears............ ok nice to see u and keep sharing

 :thanks: thanks RD bro for remembring me,

thank u and welcome back
Title: Re: AICL -- Adamjee Insurance
Post by: mohammad.tahir.siddiqui on July 15, 2010, 05:45:35 PM
aicl jald 120rs dikhae ga.laooo
Title: Re: AICL -- Adamjee Insurance
Post by: Celebrations on July 16, 2010, 12:49:08 AM
aicl jald 120rs dikhae ga.laooo
Jhooton k sir per seengh hote sab se bare tumhare sur par hote :biggrin:
Title: Re: AICL -- Adamjee Insurance
Post by: wasi on July 16, 2010, 01:42:39 AM
aicl jald 120rs dikhae ga.laooo
Jhooton k sir per seengh hote sab se bare tumhare sur par hote :biggrin:
:clap1:
Title: Re: AICL -- Adamjee Insurance
Post by: Kid on July 16, 2010, 08:55:05 AM
aicl jald 120rs dikhae ga.laooo
Jhooton k sir per seengh hote sab se bare tumhare sur par hote :biggrin:
I second that...... He is a nasty rumour spreader.
Title: Re: AICL -- Adamjee Insurance
Post by: mohammad.tahir.siddiqui on July 21, 2010, 01:16:53 PM
aicl 40rs upside 120per share fair value.now big game for aicl.
Title: Re: AICL -- Adamjee Insurance
Post by: Farzooq on July 28, 2010, 12:37:48 PM

laoo aicl 88
Title: Re: AICL -- Adamjee Insurance
Post by: mohammad.tahir.siddiqui on July 28, 2010, 12:49:06 PM
aicl lock 120rs ki taraf rawa dawa.
Title: Re: AICL -- Adamjee Insurance
Post by: mohammad.tahir.siddiqui on July 28, 2010, 01:10:21 PM
isko cap karwao ji.
Title: Re: AICL -- Adamjee Insurance
Post by: mohammad.tahir.siddiqui on July 28, 2010, 02:39:42 PM
phir ruk gaya chalte chalte.phir kisi ki nazar lag gai aiccl ko.
Title: Re: AICL -- Adamjee Insurance
Post by: Trademaster on August 03, 2010, 10:51:40 AM
Any idea about the BM of AICL.

Will the BM trigger it to go above 100?
Title: Re: AICL -- Adamjee Insurance
Post by: M&M on August 03, 2010, 11:32:01 AM
Any idea about the BM of AICL.

Will the BM trigger it to go above 100?

only if u have a vivid imagination  :biggrin:
Title: Re: AICL -- Adamjee Insurance
Post by: mohammad.tahir.siddiqui on August 03, 2010, 04:33:56 PM
aicl ki bm kab hai.
Title: Re: AICL -- Adamjee Insurance
Post by: mohammad.tahir.siddiqui on August 05, 2010, 02:39:07 AM
INSHALLAH GAME START. :clap1:
Title: Re: AICL -- Adamjee Insurance
Post by: wasi on August 05, 2010, 03:54:25 AM
INSHALLAH GAME START. :clap1:

Kh. Tahir bahi, Anl aur JSCl kaa kiaa kiyaa app nee? abb aicl kiii bari tu nahii kia? :bangin:
Title: Re: AICL -- Adamjee Insurance
Post by: mohammad.tahir.siddiqui on August 05, 2010, 09:44:05 AM
janab aicl acha share hai aaj cap ho ga.
Title: Re: AICL -- Adamjee Insurance
Post by: mohammad.tahir.siddiqui on August 05, 2010, 09:53:23 AM
aicl low rate pe trade ho raha hai lao aicl bus.
Title: Re: AICL -- Adamjee Insurance
Post by: mohammad.tahir.siddiqui on August 05, 2010, 10:22:36 AM
aicl very bad share na lo fazool share hai chal hi nahi raha .
Title: Re: AICL -- Adamjee Insurance
Post by: mohammad.tahir.siddiqui on August 05, 2010, 10:35:01 AM
aicl se nikal jao. :dunno:
Title: Re: AICL -- Adamjee Insurance
Post by: mohammad.tahir.siddiqui on August 05, 2010, 10:44:58 AM
na lo na lo logo ko phasa rahe hai na lo .
Title: Re: AICL -- Adamjee Insurance
Post by: Research Doctor on August 05, 2010, 12:51:30 PM
Kh. Sb aap kia keh aur ker rahay hain??? r u normal and balanced????? think first before u opine!
Title: Re: AICL -- Adamjee Insurance
Post by: mohammad.tahir.siddiqui on August 05, 2010, 02:09:16 PM
ha ji normal to ho lakin is ko thaka do ga ma . :rtfm:
Title: Re: AICL -- Adamjee Insurance
Post by: mohammad.tahir.siddiqui on August 06, 2010, 04:23:34 AM
aicl ki bm kab hai any news for bm.farzook sahab
Title: Re: AICL -- Adamjee Insurance
Post by: mohammad.tahir.siddiqui on August 06, 2010, 03:07:02 PM
mene kaha tha aicl ganda share hai nikal jao is ma se.
Title: Re: AICL -- Adamjee Insurance
Post by: mohammad.tahir.siddiqui on August 06, 2010, 03:25:02 PM
INSHALLAH JALD LAO HO GA AICL.
Title: Re: AICL -- Adamjee Insurance
Post by: mohammad.tahir.siddiqui on August 09, 2010, 09:39:58 AM
girti hoi diwaar ko 1dhakka or do.
Title: Re: AICL -- Adamjee Insurance
Post by: invincible on August 10, 2010, 10:23:10 AM
yar mujhe aicl 80 k around bhut atractive lag raha hai. should I buy it? plz comment
Title: Re: AICL -- Adamjee Insurance
Post by: mohammad.tahir.siddiqui on August 10, 2010, 10:38:09 AM
ha buy kar lo aicl aaj upper cap mare ga .
Title: Re: AICL -- Adamjee Insurance
Post by: invincible on August 10, 2010, 10:59:55 AM
ha buy kar lo aicl aaj upper cap mare ga .


Yar tum tou mujhe khi mein kahin mill jaou. hemasha disinformation dytay hou :smilestar:  :smilestar:

Farzooq bhai n mamu plz opine on aicl, whr to buy?
Title: Re: AICL -- Adamjee Insurance
Post by: M&M on August 10, 2010, 11:24:28 AM
ha buy kar lo aicl aaj upper cap mare ga .

muhuhahahah  :laugh:
Title: Re: AICL -- Adamjee Insurance
Post by: invincible on August 10, 2010, 11:27:43 AM
M@M bhai plz comment on aicl
Title: Re: AICL -- Adamjee Insurance
Post by: M&M on August 10, 2010, 11:32:24 AM
M@M bhai plz comment on aicl

not a follower .. so can't comment on buy/sell/hold.
generally, it's better to be sidelined due to overall negative sentiments.  :thanks:
Title: Re: AICL -- Adamjee Insurance
Post by: shahid123456 on August 10, 2010, 11:38:38 AM
cash is the king better miss a trade than booking loss.....
Title: Re: AICL -- Adamjee Insurance
Post by: invincible on August 10, 2010, 11:40:32 AM
 :thanks: both of u
Title: Re: AICL -- Adamjee Insurance
Post by: mohammad.tahir.siddiqui on August 10, 2010, 12:31:17 PM
buy call bahi buy call.
Title: Re: AICL -- Adamjee Insurance
Post by: mohammad.tahir.siddiqui on August 10, 2010, 12:34:54 PM
aicl ki bm announce hone wali hai.
Title: Re: AICL -- Adamjee Insurance
Post by: mohammad.tahir.siddiqui on August 10, 2010, 08:22:30 PM
aicl ki bm kab hai ji reply kar k batai farzook sahab. :console:
Title: Re: AICL -- Adamjee Insurance
Post by: mohammad.tahir.siddiqui on August 13, 2010, 12:31:04 AM
80rs pe mill raha hai buy call.
Title: Re: AICL -- Adamjee Insurance
Post by: mohammad.tahir.siddiqui on August 13, 2010, 12:17:50 PM
aicl pe nazar daloo.
Title: Re: AICL -- Adamjee Insurance
Post by: 007 on August 13, 2010, 08:26:11 PM
screw you

60 ka hoga :bangin:
Title: Re: AICL -- Adamjee Insurance
Post by: arauf on August 13, 2010, 09:13:37 PM
Khawaja Sahib Pehlay ANL and JSCL kaa kuch kar lain.
Title: Re: AICL -- Adamjee Insurance
Post by: asimsaim on August 14, 2010, 01:16:46 PM
aicl pe nazar daloo.

Correction lay sakta hay.  magar correction kay signal b abhi nahi hain.
Title: Re: AICL -- Adamjee Insurance
Post by: mohammad.tahir.siddiqui on August 16, 2010, 12:15:38 PM
ise kehte hai girti hoi diwaar ko 1dhakka or do buy this time now buy call.
Title: Re: AICL -- Adamjee Insurance
Post by: mohammad.tahir.siddiqui on August 16, 2010, 12:23:17 PM
now safe investment aicl,ppl,pso,apl,efug,pol,nbp,mcb,buycall in my opinion.
Title: Re: AICL -- Adamjee Insurance
Post by: mohammad.tahir.siddiqui on August 17, 2010, 09:11:45 PM
kal aicl upper lock ho ga INSHALLAH BUY CALL IN MY OPPINION.
Title: Re: AICL -- Adamjee Insurance
Post by: Farzooq on August 19, 2010, 12:19:57 PM
bm 25th aug
Title: Re: AICL -- Adamjee Insurance
Post by: Trademaster on August 19, 2010, 01:57:47 PM
Dear fazrooq Bhai

 :thanks:

Please post your technical analysis and what is the expectation?

Regards
Title: Re: AICL -- Adamjee Insurance
Post by: Poker Face on August 22, 2010, 06:55:34 PM
What is wrong with AICL? Why is it coming down and down? Is there something wrong fundamentally or is it just a bearish rally which can be over any time? :(
Title: Re: AICL -- Adamjee Insurance
Post by: Farzooq on August 22, 2010, 09:33:46 PM
What is wrong with AICL? Why is it coming down and down? Is there something wrong fundamentally or is it just a bearish rally which can be over any time? :(

Insurance sector have been falling after the
Airblue incident and floods
Title: Re: AICL -- Adamjee Insurance
Post by: invincible on August 22, 2010, 09:41:12 PM
What is wrong with AICL? Why is it coming down and down? Is there something wrong fundamentally or is it just a bearish rally which can be over any time? :(

Insurance sector have been falling after the
Airblue incident and floods


Dear, to best of my knowledge, efu group has to pay 5 p/c in air blue incident, 95 p/c are foreign insurance companies.

Regards,
Title: Re: AICL -- Adamjee Insurance
Post by: mohammad.tahir.siddiqui on August 23, 2010, 10:00:16 AM
aicl cheaper rate pe hai by call.
Title: Re: AICL -- Adamjee Insurance
Post by: Trademaster on August 23, 2010, 10:03:10 AM
Fazrooq bhai


So What is the expected EPS of AICL?

Will it further falling down?


Regards
Title: Re: AICL -- Adamjee Insurance
Post by: Farzooq on August 23, 2010, 10:14:53 AM
Fazrooq bhai


So What is the expected EPS of AICL?

Will it further falling down?


Regards

dont know the reason but insurance sector as a whole is falling for sometime now

Title: Re: AICL -- Adamjee Insurance
Post by: mohammad.tahir.siddiqui on August 23, 2010, 12:36:14 PM
15cnt bns d sakta ha aicl.
Title: Re: AICL -- Adamjee Insurance
Post by: mohammad.tahir.siddiqui on August 23, 2010, 08:29:24 PM
aicl ki rally kab start ho rahi hai please guide me.
Title: Re: AICL -- Adamjee Insurance
Post by: Trademaster on August 24, 2010, 08:58:54 AM
Kh sahab

Ab to lagta hai down side rally hi start ho gi result ke bad  :brickwall:.

Title: Re: AICL -- Adamjee Insurance
Post by: mohammad.tahir.siddiqui on August 24, 2010, 10:06:24 AM
INSHALLAH MUJHE UMEED HAI AAJ CAP MARE GA INSHALLAH.
Title: Re: AICL -- Adamjee Insurance
Post by: Trademaster on August 24, 2010, 10:59:15 AM
Aap ka buying average kia hai ?
Title: Re: AICL -- Adamjee Insurance
Post by: Farzooq on August 24, 2010, 12:15:43 PM
AICL: 1HCY10 Result Preview

Adamjee Insurance Company Ltd. (AICL) is scheduled to finalize its 1HCY10 result tomorrow. We expect the company to post an earnings decline of 47%YoY in 1HCY10. In this regard, NPAT is expected to be PkR310mn (fully diluted EPS - PkR2.51 on 123.7mn shares) for 1HCY10 compared to NPAT of PkR582mn (fully diluted EPS-PkR4.71) in the same period last year.
Title: Re: AICL -- Adamjee Insurance
Post by: mohammad.tahir.siddiqui on August 24, 2010, 03:21:36 PM
meri average 100rs hai bahi .
Title: Re: AICL -- Adamjee Insurance
Post by: wasi on August 24, 2010, 09:17:44 PM
meri average 100rs hai bahi .

anl lee looo :biggthumpup:
Title: Re: AICL -- Adamjee Insurance
Post by: mohammad.tahir.siddiqui on August 25, 2010, 04:08:27 AM
mujhe pagal dog ne nahi kata jo ma anl le lo is se acha to pso hai.
Title: Re: AICL -- Adamjee Insurance
Post by: mohammad.tahir.siddiqui on August 25, 2010, 10:34:35 AM
any result announcement.
Title: Re: AICL -- Adamjee Insurance
Post by: M&M on August 25, 2010, 11:24:45 AM
mujhe pagal dog ne nahi kata jo ma anl le lo is se acha to pso hai.

hehe
Title: Re: AICL -- Adamjee Insurance
Post by: mohammad.tahir.siddiqui on August 25, 2010, 11:35:11 AM
rs pe buy call agar nahi lena to na lo phir na kehna k khabbar na hoi.
Title: Re: AICL -- Adamjee Insurance
Post by: Farzooq on August 25, 2010, 01:00:01 PM
eps 2.41 dividend 1 rs
Title: Re: AICL -- Adamjee Insurance
Post by: Trademaster on August 25, 2010, 01:05:47 PM
Kh sahab

Ab to lagta hai down side rally hi start ho gi result ke bad  :brickwall:.





 :console: :console:
Title: Re: AICL -- Adamjee Insurance
Post by: mohammad.tahir.siddiqui on August 25, 2010, 02:01:36 PM
jitna girna tha gir gaya shazaad sahab kal se upper lock strat ho jae ge ji janab umeed pe duniya kaem hai.
Title: Re: AICL -- Adamjee Insurance
Post by: mamu jee on August 25, 2010, 02:17:41 PM
jitna girna tha gir gaya shazaad sahab kal se upper lock strat ho jae ge ji janab umeed pe duniya kaem hai.
:console:
Title: Re: AICL -- Adamjee Insurance
Post by: Trademaster on August 25, 2010, 08:58:27 PM
jitna girna tha gir gaya shazaad sahab kal se upper lock strat ho jae ge ji janab umeed pe duniya kaem hai.

Kh sahab

Allah aap ki zaban mubarak kare wese i have booked the loss and sell at 77 yesterday because Fazrooq bhai ne jo result ki expectation di thi us se isi behavour ki umeed thi.  :brickwall: :crying_anim02:. if it will rise again then i will try to recover my losses.

Todays result shows that it will further go down to 60 if they will not recover in 3rd third quarter.   :bangin:

In my opinion it is moving according to the EPS.  Last year third quarter EPS 15.3 which bring it from 95 to 125 in Aug to oct . but this year flood and other damages increase the insurance claim ristrict thier profit and it looks very difficult to increase their earnings as last year.

2009                  EPS                      Commulative          Share Price
 
2nd Quarter      2.4                              4.71                      80
3rd Quarter      15.4                             20.1                     120
Full Year            2.3                              22.47                   130

2010

1st quarter      2.2                                                            85
Half Year          0.21                             2.41                        ?
Title: Re: AICL -- Adamjee Insurance
Post by: Poker Face on August 25, 2010, 10:20:47 PM
Smoothly heading towards 60/- . But Nishat Group is one of the most kanjoos group at KSE after the award winning Kanjoos Company of the world "Packages Limited". They simply fill their own pockets. Thumbs down to DG Cement, NML  and Adamjee. :rtfm:
Title: Re: AICL -- Adamjee Insurance
Post by: Farzooq on August 25, 2010, 10:50:18 PM
Aicl holds a lots of blue chip stocks and its performance largely depends on
Stock market performance which is down nowadays
Title: Re: AICL -- Adamjee Insurance
Post by: mohammad.tahir.siddiqui on August 26, 2010, 12:35:41 PM
aicl mansha ka share hai chale ga zaroor.
Title: Re: AICL -- Adamjee Insurance
Post by: shahid123456 on August 26, 2010, 12:38:11 PM
hann 2012 main ye rally dikhae ga ..... :shoaby: :shoaby: :shoaby:
Title: Re: AICL -- Adamjee Insurance
Post by: Farzooq on August 26, 2010, 02:39:01 PM
The highlights for the period under review are as under:
Gross Premium 5,858,280 5,172,654
Net Premium 3,431,086 3,578,555
Underwriting Results 392,272 401,007
Investment Income 223,383 560,130
Profit Before Tax 385,918 762,399
Profit After Tax 298,689 582,529
Earning per Share (Rupees) 2.41 4.71

The Company has shown a growth of 13.25% in Gross Premium, where as Net Claim and Net Commission has been
reduced by 3.5% and 20.3% respectively over the corresponding period of last year.

The investment income of the Company has declined by 60% as compared to last year and there is a charge of Rs.
129.5 million during the period due to the adverse position of stock markets in the country. Increase in investment
income in the half year of 2009 was mainly due to the 'Reversal of provision for available for sales investments' which
amounts to Rs. 287 million. The Profit Before and After Tax have declined by 49.4 % and 48.7 % respectively from the
same period of last year
Title: Re: AICL -- Adamjee Insurance
Post by: Farzooq on August 26, 2010, 02:57:52 PM

Aicl holdings

21m mcb
1m dgkc
800k nml

800k ahsl

1m abl
5.5m bahl
3.2m hmbl
1.1m nbp
2m ubl

20m ncpl

110k pso
325k shell
2m sngp

1.6m ogdc
400k pol
1.4m ppl

1.1m inil

300k agtl
300k mtl
170k siemen

350k engro
400k ffbl
1.2m ffc

1.2m abot
700k glaxo

500k mureb
32k nestle
26k ulever

Title: Re: AICL -- Adamjee Insurance
Post by: mohammad.tahir.siddiqui on August 26, 2010, 07:38:17 PM
fazook bahi zara batae ye or kitna neeche jae ga.
Title: Re: AICL -- Adamjee Insurance
Post by: Farzooq on August 26, 2010, 07:43:34 PM
fazook bahi zara batae ye or kitna neeche jae ga.

No support yet Lets c where it finds support
Title: Re: AICL -- Adamjee Insurance
Post by: invincible on August 26, 2010, 09:23:15 PM
I think, around 63.
Title: Re: AICL -- Adamjee Insurance
Post by: Poker Face on August 26, 2010, 10:53:13 PM
It will keep coming down until the next bull rally. Ab jab market bullish ho gi yeh us waqt hi charhe ga. Har koi FFC to nahi hota na :biggrin:
Title: Re: AICL -- Adamjee Insurance
Post by: mohammad.tahir.siddiqui on August 26, 2010, 11:47:02 PM
mujhe to lagta ha kal se upper ki janib start ho ga.
Title: Re: AICL -- Adamjee Insurance
Post by: Research Doctor on August 26, 2010, 11:58:46 PM
mujhe to lagta ha kal se upper ki janib start ho ga.
Bhai is ko abhi 60 se ooper koi support nahi ha. Abhi yeh girta hi rahay ga. Aap ko kiun daily hallucination rehti hai is ke baaray main???
Title: Re: AICL -- Adamjee Insurance
Post by: asimsaim on August 27, 2010, 01:04:45 AM
Do these guys insure,  fallin Jets as well,  may be,
Title: Re: AICL -- Adamjee Insurance
Post by: mustafa sheikh on August 27, 2010, 01:28:40 AM
mujhe to lagta ha kal se upper ki janib start ho ga.
Bhai is ko abhi 60 se ooper koi support nahi ha. Abhi yeh girta hi rahay ga. Aap ko kiun daily hallucination rehti hai is ke baaray main???
loved ur comment!!!
Title: Re: AICL -- Adamjee Insurance
Post by: mohammad.tahir.siddiqui on August 27, 2010, 08:19:55 AM
ok mar jao . :shock:
Title: Re: AICL -- Adamjee Insurance
Post by: mohammad.tahir.siddiqui on August 27, 2010, 08:21:51 AM
ma to kehta ho 50rs pe ajae chalo ma 5k or buy kar lo ga.
Title: Re: AICL -- Adamjee Insurance
Post by: Farzooq on September 03, 2010, 11:43:02 AM
AKD Quotidian

AICL: Target Price Revision

Adamjee Insurance Company Ltd. (AICL) announced its 1HCY10 results recently. AICL posted NPAT of PkR299mn (EPS-PkR2.41) during 1HCY10 versus NPAT of PkR583mn (EPS-PkR4.71) reported in the corresponding period last year, a decline of 49%YoY. This was inline with our expected NPAT of PkR310mn (EPS-PkR2.51). Key result takeaways include: 1) a sizable 60%YoY decline in investment income during 1HCY10 due to a weak capital market, 2) underwriting profitability down by 2%YoY and 3) overseas operations driving 45% of underwriting profitability. Going forward, 3QCY10 will likely witness flood-affected claims unfavorably impacting AICL's fire & property portfolio (claims arising from the crop insurance portfolio and the AES Power Plants). Factoring flood-related claims and alongside a likely sluggish macroeconomic environment going forward, we lower our EPS forecast across CY10E-CY14F by 5% on average. Combined with the recent 5bps hike in the Discount Rate, we accordingly cut our target price to PkR78/share Current levels imply an upside of 16%.   
Title: Re: AICL -- Adamjee Insurance
Post by: Poker Face on September 03, 2010, 10:31:57 PM
AICL is currently bearish and it is totally inadvisable to buy this scrip at this level. Good thing is that now if the market goes down, it may touch Rs. 35-40 level, only then it can be bought for good return on investment.
The company is very old so risk is not that gr8. Only thing is their unstable profit margins on quarterly basis.
Title: Re: AICL -- Adamjee Insurance
Post by: babri on September 04, 2010, 02:26:44 AM
AICL is currently bearish and it is totally inadvisable to buy this scrip at this level. Good thing is that now if the market goes down, it may touch Rs. 35-40 level, only then it can be bought for good return on investment.
The company is very old so risk is not that gr8. Only thing is their unstable profit margins on quarterly basis.
Dont u think, once the flood result season starts, too much claim would be there for insurance firms.
Title: Re: AICL -- Adamjee Insurance
Post by: Farzooq on September 27, 2010, 11:51:41 AM
AICL: Company update – ‘Buy’ maintained

Adamjee Insurance (AICL) in its 1H2010 result
reported a profit after tax of Rs299mn (EPS: Rs2.41),
decline of 49%YoY. Declining Investment and Other
Income (down 60%YoY and 22%YoY, respectively)
coupled with a decrease (2%YoY) in underwriting
results were main reasons for the poor performance
in 1H2010. In the wake of this result and the flood
losses, we revise down our full year 2010 earnings estimate
to Rs5.5 per share from Rs7.6 per share previously.
Consequently, our target price for the scrip has also been
revised to Rs80 per share (potential upside of 18% from
current the market price). The stock currently trades at a
2011F PE of 5.9x, hence we maintain our ‘Buy’ stance on the
scrip.

JSGCL
Title: Re: AICL -- Adamjee Insurance
Post by: guru1 on October 06, 2010, 09:52:28 AM
Aicl holds a lots of blue chip stocks and its performance largely depends on
Stock market performance which is down nowadays
@farzooq bahi-  In blue chips stocks ki maliyat bata dhain oar is k total number of shares kitnay hain.
Title: Re: AICL -- Adamjee Insurance
Post by: Farzooq on October 06, 2010, 10:05:52 AM

Aicl holdings

21m mcb
1m dgkc
800k nml

800k ahsl

1m abl
5.5m bahl
3.2m hmbl
1.1m nbp
2m ubl

20m ncpl

110k pso
325k shell
2m sngp

1.6m ogdc
400k pol
1.4m ppl

1.1m inil

300k agtl
300k mtl
170k siemen

350k engro
400k ffbl
1.2m ffc

1.2m abot
700k glaxo

500k mureb
32k nestle
26k ulever



Aicl holds a lots of blue chip stocks and its performance largely depends on
Stock market performance which is down nowadays
@farzooq bahi-  In blue chips stocks ki maliyat bata dhain oar is k total number of shares kitnay hain.
Title: Re: AICL -- Adamjee Insurance
Post by: Poker Face on October 19, 2010, 09:33:02 PM
@Kh.Tahir
Bhai kya lagta hai AICL zor pakar rahi hai?
Title: Re: AICL -- Adamjee Insurance
Post by: mohammad.tahir.siddiqui on October 19, 2010, 10:17:56 PM
mene to aicl sale kar diya tha janab .nbp le lo is se acha.
Title: Re: AICL -- Adamjee Insurance
Post by: Poker Face on October 19, 2010, 11:17:58 PM
kyun bhai jab tezi ke din aye to sale kar diya?
Title: Re: AICL -- Adamjee Insurance
Post by: mohammad.tahir.siddiqui on October 20, 2010, 08:52:09 AM
ha yaar ALLAH KI MARZY HA MA KIA KAR SAKTA HO WO BENIYAAZ HAI ALLAH HI MALIK HA SUB KA.
Title: Re: AICL -- Adamjee Insurance
Post by: Farzooq on October 27, 2010, 01:51:36 PM
AICL: 9MCY10 Result Preview

We expect the company to post an earnings decline of 87%YoY in 9MCY10. In this regard, NPAT is expected to be PkR304mn (EPS: PkR2.46) for 9MCY10 compared to NPAT of PkR2,309mn (EPS: PkR18.66) in the same period last year

AKD
Title: Re: AICL -- Adamjee Insurance
Post by: mohammad.tahir.siddiqui on October 28, 2010, 11:54:29 AM
ANY RESULT UPDATE PLEASE.
Title: Re: AICL -- Adamjee Insurance
Post by: invincible on October 28, 2010, 01:58:38 PM
ANY RESULT UPDATE PLEASE.



 :skeptic:
Title: Re: AICL -- Adamjee Insurance
Post by: mohammad.tahir.siddiqui on October 28, 2010, 03:00:26 PM
1rs dividened only.
Title: Re: AICL -- Adamjee Insurance
Post by: Dhillon on October 28, 2010, 03:49:27 PM
EPs 1.08 below result
Title: Re: AICL -- Adamjee Insurance
Post by: Trademaster on October 28, 2010, 04:07:51 PM
EPs 1.08 below result

Is it 9 month or 3rd qtr alone?
Title: Re: AICL -- Adamjee Insurance
Post by: Farzooq on October 28, 2010, 05:54:27 PM
EPs 1.08 below result

Is it 9 month or 3rd qtr alone?

9 months 1.08 no payout
Title: Re: AICL -- Adamjee Insurance
Post by: Trademaster on October 29, 2010, 08:35:49 AM
EPs 1.08 below result

Is it 9 month or 3rd qtr alone?

9 months 1.08 no payout

Its mean loss in 3rd Qtr.

Kia hashar ho gaya is company ka   :shock:
Title: Re: AICL -- Adamjee Insurance
Post by: Faisal on October 29, 2010, 03:20:28 PM
EPs 1.08 below result

Is it 9 month or 3rd qtr alone?

9 months 1.08 no payout

Its mean loss in 3rd Qtr.

Kia hashar ho gaya is company ka   :shock:
:brickwall:
Title: Re: AICL -- Adamjee Insurance
Post by: invincible on October 29, 2010, 04:29:49 PM
aicl ki 66 pe buying bante hai? experts plz opine  :thanks:
Title: Re: AICL -- Adamjee Insurance
Post by: Poker Face on October 29, 2010, 04:33:34 PM
I am not an expert but I will advise you to wait for some time. It is not posting good results at the moment. Secondly it does not pay good dividends as compared to its price.
Title: Re: AICL -- Adamjee Insurance
Post by: invincible on October 29, 2010, 04:36:51 PM
I am not an expert but I will advise you to wait for some time. It is not posting good results at the moment. Secondly it does not pay good dividends as compared to its price.


Dear, whr do u see its level in coming days, (in v short- term)
Title: Re: AICL -- Adamjee Insurance
Post by: Poker Face on October 29, 2010, 04:42:53 PM
Normally if a company posts bad result and its price does not drop in the first week then its price is likely to drop in coming weeks. But DGKC price went up even it posted bad result. Short term mein 50% chance hai up hone ka may be 73-74 level. But I am not sure. Market bhi filhal bearish hai.
Title: Re: AICL -- Adamjee Insurance
Post by: invincible on October 29, 2010, 04:45:44 PM
Farzooq n MM bro kindly guide me its trend through charts.

Regards,
Title: Re: AICL -- Adamjee Insurance
Post by: invincible on October 29, 2010, 07:19:06 PM
Farzooq n MM bro kindly guide me its trend through charts.

Regards,



Awaiting  :(
Title: Re: AICL -- Adamjee Insurance
Post by: M&M on October 29, 2010, 09:15:32 PM
Farzooq n MM bro kindly guide me its trend through charts.

Regards,



Awaiting  :(

yar jab market correction mode per ho to positions liquidate kerte hey na brother ..
i'm looking at the chart and it's in a down trendline ..

(http://img838.imageshack.us/img838/4316/aicldt29oct10.png)

Title: Re: AICL -- Adamjee Insurance
Post by: Poker Face on October 29, 2010, 09:29:34 PM
Chalo fundamentals kuch ache hon to phir bhi baat banti hai lekin yahan to woh bhi nahin hai. Pata nahi invincible ko yeh attractive kyun lag raha hai?
Title: Re: AICL -- Adamjee Insurance
Post by: invincible on October 29, 2010, 09:34:55 PM
Chalo fundamentals kuch ache hon to phir bhi baat banti hai lekin yahan to woh bhi nahin hai. Pata nahi invincible ko yeh attractive kyun lag raha hai?


Yar actually I have done short sell in it at 70.So one of my close friend has frightened me tht it wil touch 80 next week, thts y I m worried. BTW thanx alot MM n m.k.k for ur precious time, I m relaxed now. I would love to hear Farzooq opinion too.  :thanks:
Title: Re: AICL -- Adamjee Insurance
Post by: Poker Face on October 29, 2010, 09:38:05 PM
 :biggrin: aap to baray woh nikle
Title: Re: AICL -- Adamjee Insurance
Post by: invincible on October 29, 2010, 09:41:15 PM
:biggrin: aap to baray woh nikle


Bs Yara apke student hain  :laugh:
Title: Re: AICL -- Adamjee Insurance
Post by: M&M on October 29, 2010, 09:44:45 PM
muhuhahaha  :clap1:
ailaaa .. aaj ki trading to chart mey hey hi nahin .. wait i'll update
Title: Re: AICL -- Adamjee Insurance
Post by: M&M on October 29, 2010, 09:47:45 PM
(http://img529.imageshack.us/img529/4316/aicldt29oct10.png)
Title: Re: AICL -- Adamjee Insurance
Post by: invincible on October 31, 2010, 10:18:11 PM
(http://img529.imageshack.us/img529/4316/aicldt29oct10.png)


Dear, kindly explain trend from lattest chart.  :s1:
Title: Re: AICL -- Adamjee Insurance
Post by: M&M on November 01, 2010, 10:08:03 AM
primary trend:bearish as long as it doesn't break the trendline
Title: Re: AICL -- Adamjee Insurance
Post by: invincible on November 01, 2010, 11:00:24 AM
primary trend:bearish as long as it doesn't break the trendline



Bundle of  :thanks:
Title: Re: AICL -- Adamjee Insurance
Post by: invincible on November 02, 2010, 12:47:12 PM
short  :brickwall: :brickwall:  :brickwall:
Title: Re: AICL -- Adamjee Insurance
Post by: invincible on November 03, 2010, 12:37:02 PM
Farzooq n MM bro, aicl k short ka kya karun, plz enlighten me by charts. plz urgently.
Title: Re: AICL -- Adamjee Insurance
Post by: Farzooq on November 03, 2010, 12:45:19 PM
Farzooq n MM bro, aicl k short ka kya karun, plz enlighten me by charts. plz urgently.

hold ur short with aicl-nov stop of 73
Title: Re: AICL -- Adamjee Insurance
Post by: invincible on November 03, 2010, 01:14:07 PM
Farzooq n MM bro, aicl k short ka kya karun, plz enlighten me by charts. plz urgently.

hold ur short with aicl-nov stop of 73


 :thanks:
Title: Re: AICL -- Adamjee Insurance
Post by: invincible on November 04, 2010, 02:23:02 PM
short ka kya karun bhai, plz respond fast.
Title: Re: AICL -- Adamjee Insurance
Post by: mohammad.tahir.siddiqui on November 04, 2010, 03:01:12 PM
SHORT KU KIA HAI AAP NE AB BUY KA TIME HA AB HOSLA RAKHO MARKET HIGH HA SABAR KARO ALLAH SABAR KARNE WALO K SATH HA.OR NIMAAZ PARHO BUS.
Title: Re: AICL -- Adamjee Insurance
Post by: Poker Face on November 05, 2010, 04:08:12 PM
short ka kya karun bhai, plz respond fast.
Kya kiya aap ne?
Title: Re: AICL -- Adamjee Insurance
Post by: invincible on November 05, 2010, 04:31:05 PM
short ka kya karun bhai, plz respond fast.
Kya kiya aap ne?


Cover karliya kal  :console:  :console:
Title: Re: AICL -- Adamjee Insurance
Post by: M&M on November 05, 2010, 07:26:12 PM
(http://img17.imageshack.us/img17/4415/aiclnewupt7nov10sup.png)
Title: Re: AICL -- Adamjee Insurance
Post by: M&M on November 07, 2010, 02:55:28 PM
'AICL' seems to be the best bet in current bullish rally as you can see in the chart.
The break above the previous reaction high (76.25) has also confirmed that the uptrend is strong and likely to continue.
I don't have any calculated target but 85 looks reasonable and put ur stop below 75.
Good luck.
Title: Re: AICL -- Adamjee Insurance
Post by: M&M on November 07, 2010, 03:02:38 PM
SHORT KU KIA HAI AAP NE AB BUY KA TIME HA AB HOSLA RAKHO MARKET HIGH HA SABAR KARO ALLAH SABAR KARNE WALO K SATH HA.OR NIMAAZ PARHO BUS.

 :goodc: :laugh:
Title: Re: AICL -- Adamjee Insurance
Post by: jahangir on November 08, 2010, 12:44:58 AM
(http://i1218.photobucket.com/albums/dd403/doji133/aicl.png)
 :dunno:
Title: Re: AICL -- Adamjee Insurance
Post by: M&M on November 08, 2010, 12:01:01 PM
@doji133 - apparently it seems u have a point .. but take a look at the bigger picture ..
i'll post the chart explaining later today
Title: Re: AICL -- Adamjee Insurance
Post by: M&M on November 08, 2010, 12:06:27 PM
aaj full gap opening hui hey - not a good sign actually if it ends up as a 'doji'.
Title: Re: AICL -- Adamjee Insurance
Post by: M&M on November 08, 2010, 12:17:05 PM
capped.
Title: Re: AICL -- Adamjee Insurance
Post by: M&M on November 08, 2010, 02:48:43 PM
@doji133 - apparently it seems u have a point .. but take a look at the bigger picture ..
i'll post the chart explaining later today
(http://img130.imageshack.us/img130/151/aicltrendbigp8nov10.png)
quick explaination:
so what u see is key primary trend was bullish .. in dec trendline break hui but it was disregarded when a new high was formed. then late jan mey trend break hua but until it broker the previous low it stayed sideways no new high/low was formed and then finally it crossed down the previous low level giving confirmation to the trendline break.
Title: Re: AICL -- Adamjee Insurance
Post by: jahangir on November 08, 2010, 05:51:30 PM
@M&M sir I hope I will be gain lot of knowledge at this forum, especially on technicals, looking forward for your guidance.
I usually fallow stave nision books regarding candlestick patterns and learning the working of amibroker (thx to this forum for free download link).         
Title: Re: AICL -- Adamjee Insurance
Post by: M&M on November 15, 2010, 07:47:40 PM
kal 85 touch karsakta hey ..
Title: Re: AICL -- Adamjee Insurance
Post by: M&M on November 16, 2010, 01:43:14 PM
kal 85 touch karsakta hey ..
dismal ..
Title: Re: AICL -- Adamjee Insurance
Post by: tariqdbest on November 16, 2010, 02:11:54 PM
looks like AICL will come down from this point
Title: Re: AICL -- Adamjee Insurance
Post by: tariqdbest on November 25, 2010, 01:49:27 PM
AICL is consolidating below 85 level
Title: Re: AICL -- Adamjee Insurance
Post by: invincible on November 25, 2010, 01:51:23 PM
AICL is consolidating below 85 level


So whr to buy it. ur view?
Title: Re: AICL -- Adamjee Insurance
Post by: tariqdbest on November 25, 2010, 03:13:39 PM
AICL is consolidating below 85 level


So whr to buy it. ur view?

buy it at around 80
Title: Re: AICL -- Adamjee Insurance
Post by: invincible on November 25, 2010, 03:57:34 PM
Dear Farzooq plz throw some light on aicl trend, whr to buy n short term target. Thanx
Title: Re: AICL -- Adamjee Insurance
Post by: Farzooq on November 25, 2010, 04:08:23 PM
Dear Farzooq plz throw some light on aicl trend, whr to buy n short term target. Thanx

buy on dip stop 77
Title: Re: AICL -- Adamjee Insurance
Post by: invincible on November 25, 2010, 07:15:20 PM
Dear Farzooq plz throw some light on aicl trend, whr to buy n short term target. Thanx

buy on dip stop 77


 :thanks:
Title: Re: AICL -- Adamjee Insurance
Post by: invincible on November 28, 2010, 06:56:58 PM
MM bro plz guide me aicl trend whr to buy? 90 is achievable in short term,I m told by some one last day. whts ur view?
Title: Re: AICL -- Adamjee Insurance
Post by: M&M on November 28, 2010, 07:04:55 PM
MM bro plz guide me aicl trend whr to buy? 90 is achievable in short term,I m told by some one last day. whts ur view?
abhi market per depend kerta hey .. mps ke baad agar market nahin girti to 90 aram se jayega aur agar girti hey to pehle neechey jayega but I see 85-90 in medium to long term ..
Title: Re: AICL -- Adamjee Insurance
Post by: invincible on November 29, 2010, 07:41:06 PM
MM bro plz guide me aicl trend whr to buy? 90 is achievable in short term,I m told by some one last day. whts ur view?
abhi market per depend kerta hey .. mps ke baad agar market nahin girti to 90 aram se jayega aur agar girti hey to pehle neechey jayega but I see 85-90 in medium to long term ..


 :thanks: bro, wht will be d out come on aicl after 50 bp increas in DR?
Title: Re: AICL -- Adamjee Insurance
Post by: M&M on November 29, 2010, 08:23:49 PM
MM bro plz guide me aicl trend whr to buy? 90 is achievable in short term,I m told by some one last day. whts ur view?
abhi market per depend kerta hey .. mps ke baad agar market nahin girti to 90 aram se jayega aur agar girti hey to pehle neechey jayega but I see 85-90 in medium to long term ..


 :thanks: bro, wht will be d out come on aicl after 50 bp increas in DR?
my signature says it all ;)
Title: Re: AICL -- Adamjee Insurance
Post by: Poker Face on November 30, 2010, 07:14:38 PM
@Invincible
Bhai aap ko kya lagta hai. Aap ke flying bird ne koi ache earnings ki news di hai jo itna betaab hai AICL ke liye? Hamein bhi batayen takeh hum bhi koi faida utha len. Warna mujhe to koi optimistism nahi hai result ke baare mein.
Title: Re: AICL -- Adamjee Insurance
Post by: invincible on November 30, 2010, 08:02:10 PM
@Invincible
Bhai aap ko kya lagta hai. Aap ke flying bird ne koi ache earnings ki news di hai jo itna betaab hai AICL ke liye? Hamein bhi batayen takeh hum bhi koi faida utha len. Warna mujhe to koi optimistism nahi hai result ke baare mein.


Dear 88 to 90 is quite attainable in short term (likely to be in dec)as aicl has invested heavy in stock mkt, n mkt is rocking since oct  :fingerscrossed1:
Title: Re: AICL -- Adamjee Insurance
Post by: jahangir on November 30, 2010, 09:04:11 PM
(http://i1218.photobucket.com/albums/dd403/doji133/AICL-1.png)
Title: Re: AICL -- Adamjee Insurance
Post by: invincible on December 01, 2010, 06:47:30 PM
doji bro plz guide me via chart whr is break out n short term target.
Title: Re: AICL -- Adamjee Insurance
Post by: jahangir on December 01, 2010, 09:01:47 PM
same as above chart support around 78, frist resistance at 84-85 if close above 85 than can be test 90.
as for as break out at 90 close above 90 with volume.will confirm the breakout. in short term it can move between 80 to 90 range.
hold with stop loss just bellow 78.
Title: Re: AICL -- Adamjee Insurance
Post by: invincible on December 02, 2010, 10:13:16 AM
same as above chart support around 78, frist resistance at 84-85 if close above 85 than can be test 90.
as for as break out at 90 close above 90 with volume.will confirm the breakout. in short term it can move between 80 to 90 range.
hold with stop loss just bellow 78.


 :thanks:
Title: Re: AICL -- Adamjee Insurance
Post by: invincible on December 02, 2010, 11:55:03 AM
Mansha Sb has awekened from deep slumber after long time.Ful group is in masti today  :shoaby:  :shoaby:
Title: Re: AICL -- Adamjee Insurance
Post by: invincible on December 02, 2010, 12:19:31 PM
Farzoq bhai aicl should be holded further or sold on strenght? todays vloumes seem huge. Whts ur recommendation?
Title: Re: AICL -- Adamjee Insurance
Post by: Farzooq on December 02, 2010, 12:24:05 PM
Farzoq bhai aicl should be holded further or sold on strenght? todays vloumes seem huge. Whts ur recommendation?

hold
Title: Re: AICL -- Adamjee Insurance
Post by: invincible on December 02, 2010, 12:27:17 PM
 :thanks: Bro
Title: Re: AICL -- Adamjee Insurance
Post by: Farzooq on December 05, 2010, 11:42:23 AM

hold with stop of 79 or buy on break above 84
Title: Re: AICL -- Adamjee Insurance
Post by: invincible on December 05, 2010, 11:51:56 AM

hold with stop of 79 or buy on break above 84


Thanks dear
Title: Re: AICL -- Adamjee Insurance
Post by: Farzooq on December 05, 2010, 01:53:55 PM

hold with stop of 79 or buy on break above 84

(http://i229.photobucket.com/albums/ee214/farzooq/aicl-4.png)
Title: Re: AICL -- Adamjee Insurance
Post by: invincible on December 05, 2010, 01:59:09 PM

hold with stop of 79 or buy on break above 84

(http://i229.photobucket.com/albums/ee214/farzooq/aicl-4.png)

Bro plz eloborate details from chart. I had sold on strengh on friday and wana buy back around 80.50. Wht is ur recommendation?  :thanks:
Title: Re: AICL -- Adamjee Insurance
Post by: Farzooq on December 05, 2010, 02:19:38 PM

Bro plz eloborate details from chart. I had sold on strengh on friday and wana buy back around 80.50. Wht is ur recommendation?  :thanks:

hold with stop of 79 or buy on break above 84
Title: Re: AICL -- Adamjee Insurance
Post by: invincible on December 06, 2010, 10:12:06 AM
Aicl looks strong enough today.  :goodc:
Title: Re: AICL -- Adamjee Insurance
Post by: Farzooq on December 08, 2010, 01:47:18 PM

expected aicl full year eps ??

a. 5 rs
b. 10rs
c. 15rs
Title: Re: AICL -- Adamjee Insurance
Post by: M&M on December 08, 2010, 02:16:40 PM

expected aicl full year eps ??

a. 5 rs
b. 10rs
c. 15rs
i'd like to use phone-a-friend hehe
option b. 10rs per taala laga do
Title: Re: AICL -- Adamjee Insurance
Post by: jahangir on December 08, 2010, 02:21:00 PM
app kay leay agla sawal hay  RS 130 ka. :biggrin:
Title: Re: AICL -- Adamjee Insurance
Post by: invincible on December 08, 2010, 03:34:00 PM
app kay leay agla sawal hay  RS 130 ka. :biggrin:


All life lines failed  :biggrin:
Title: Re: AICL -- Adamjee Insurance
Post by: Farzooq on December 08, 2010, 04:28:56 PM

expected aicl full year eps ??

a. 5 rs
b. 10rs
c. 15rs
i'd like to use phone-a-friend hehe
option b. 10rs per taala laga do


c per kiun na taala lagaya jaye ??
Title: Re: AICL -- Adamjee Insurance
Post by: invincible on December 08, 2010, 04:34:44 PM

expected aicl full year eps ??

a. 5 rs
b. 10rs
c. 15rs
i'd like to use phone-a-friend hehe
option b. 10rs per taala laga do


c per kiun na taala lagaya jaye ??
 

Really???? Do u forsee 15 eps ?
Title: Re: AICL -- Adamjee Insurance
Post by: Trademaster on December 08, 2010, 04:40:34 PM
???

 :skeptic:
Title: Re: AICL -- Adamjee Insurance
Post by: Trademaster on December 08, 2010, 04:50:58 PM
Wese eps 15 bhi possible hai b/c rates of all the holdings equities of AICL has going higher and higher and it will recieved heavy divident income from these equities in this quarter as well .

As AICL showed the eps 15 in a single quarter 3Q09. same performance could be repeated. 
Title: Re: AICL -- Adamjee Insurance
Post by: Trademaster on December 08, 2010, 04:52:25 PM
Seniours Plz comments ?
Title: Re: AICL -- Adamjee Insurance
Post by: Farzooq on December 08, 2010, 08:21:35 PM
Seniours Plz comments ?

Detailed calculations have to be done to fimd out exact eps
Title: Re: AICL -- Adamjee Insurance
Post by: Farzooq on December 08, 2010, 08:35:04 PM
Seniours Plz comments ?

Detailed calculations have to be done to fimd out exact eps

Initial estimates suggest eps in range of 10-15
Title: Re: AICL -- Adamjee Insurance
Post by: Poker Face on December 08, 2010, 09:24:22 PM
yaaro tum logon ko kya hua hai? 9 month earning 1.06 hai. Last quarter mein pichle saal bhi down raha tha. I disagree.
Title: Re: AICL -- Adamjee Insurance
Post by: Trademaster on December 09, 2010, 08:50:40 AM
Last year 3rd quarter mein market mein tezi rahi thi ( 7162 ~ 9349 ) aur last quarter mein mandee ( 9349 ~ 9386 )this year reverese hai last quarter mein almost 2000 ka jump lia hai market nai. .
Title: Re: AICL -- Adamjee Insurance
Post by: Farzooq on December 09, 2010, 09:50:37 AM

laoo laoo breakout laoo  :shoaby:
Title: Re: AICL -- Adamjee Insurance
Post by: Trademaster on December 09, 2010, 10:14:32 AM
 :banana: Breakout.

But Pray for close above this.

Ehat will be the target Fazrooq bhai
Title: Re: AICL -- Adamjee Insurance
Post by: invincible on December 09, 2010, 10:58:05 AM
Farzooq bhai, aicl hold or sell on strenght? I need ur opinion.  :thanks:
Title: Re: AICL -- Adamjee Insurance
Post by: M&M on December 09, 2010, 11:48:14 AM
dus ka dum hoho
Title: Re: AICL -- Adamjee Insurance
Post by: invincible on December 09, 2010, 11:54:11 AM
dus ka dum hoho


Yar dus ka dum purana hogaya hai, ab big boss ka zamana hai  :shoaby:, so wht u recommend-- hold or exit?
Title: Re: AICL -- Adamjee Insurance
Post by: Farzooq on December 09, 2010, 12:00:58 PM
dus ka dum hoho


Yar dus ka dum purana hogaya hai, ab big boss ka zamana hai  :shoaby:, so wht u recommend-- hold or exit?

stop rakh kar janay do
or sell half hold half
Title: Re: AICL -- Adamjee Insurance
Post by: M&M on December 09, 2010, 12:01:47 PM
dus ka dum hoho

Yar dus ka dum purana hogaya hai, ab big boss ka zamana hai  :shoaby:, so wht u recommend-- hold or exit?
agar closing resistance se ooper hoti hey to hold hi rakho 90 jayega ..
Title: Re: AICL -- Adamjee Insurance
Post by: invincible on December 09, 2010, 12:03:23 PM
Thanks to both of U.. :s1:
Title: Re: AICL -- Adamjee Insurance
Post by: Trademaster on December 09, 2010, 12:23:08 PM
Thnx dear
Title: Re: AICL -- Adamjee Insurance
Post by: invincible on December 09, 2010, 02:12:39 PM
Aicl looks extremely strong at current level. I m double minded on hold or sell.  ::)
Title: Re: AICL -- Adamjee Insurance
Post by: Trademaster on December 09, 2010, 02:47:25 PM
I think It must upper cap today itni weak market mein inti strong support hai
Title: Re: AICL -- Adamjee Insurance
Post by: invincible on December 09, 2010, 03:10:25 PM
Farzooq n MM bhai, I want to buy more aicl on this level after seeing its performance today. Wht u recommend as ur words matter alot to me.

Regards,
Title: Re: AICL -- Adamjee Insurance
Post by: Farzooq on December 09, 2010, 03:17:50 PM
Farzooq n MM bhai, I want to buy more aicl on this level after seeing its performance today. Wht u recommend as ur words matter alot to me.

Regards,

stop ?
Title: Re: AICL -- Adamjee Insurance
Post by: invincible on December 09, 2010, 03:21:42 PM
Aicl b gaya neechay  :console:
Title: Re: AICL -- Adamjee Insurance
Post by: Farzooq on December 09, 2010, 03:22:07 PM
Farzooq n MM bhai, I want to buy more aicl on this level after seeing its performance today. Wht u recommend as ur words matter alot to me.

Regards,

stop ?

avoid buying if its closin below 84 stop 81
Title: Re: AICL -- Adamjee Insurance
Post by: invincible on December 09, 2010, 03:25:38 PM
Farzooq n MM bhai, I want to buy more aicl on this level after seeing its performance today. Wht u recommend as ur words matter alot to me.

Regards,

stop ?

avoid buying if its closin below 84 stop 81


 :thanks:
Title: Re: AICL -- Adamjee Insurance
Post by: Poker Face on December 09, 2010, 07:16:50 PM
Chalo fundamentals kuch ache hon to phir bhi baat banti hai lekin yahan to woh bhi nahin hai. Pata nahi invincible ko yeh attractive kyun lag raha hai?


Yar actually I have done short sell in it at 70.So one of my close friend has frightened me tht it wil touch 80 next week, thts y I m worried. BTW thanx alot MM n m.k.k for ur precious time, I m relaxed now. I would love to hear Farzooq opinion too.  :thanks:
Aap ke close friend ne aap ko bilkul theek kaha tha.  :s1:
Title: Re: AICL -- Adamjee Insurance
Post by: Trademaster on December 10, 2010, 03:08:08 PM
Ye kambakht din bher 84 se oper trade hota hai end mein break kar jata hai  :brickwall:
Title: Re: AICL -- Adamjee Insurance
Post by: invincible on December 10, 2010, 03:18:08 PM
Ye kambakht din bher 84 se oper trade hota hai end mein break kar jata hai  :brickwall:


Patience. abi 1.15 min hain.
Title: Re: AICL -- Adamjee Insurance
Post by: Trademaster on December 10, 2010, 03:34:08 PM
Kal itni low market mein itna high chal raha tha aj itni high market mein low  :dunno:
Title: Re: AICL -- Adamjee Insurance
Post by: invincible on December 10, 2010, 03:36:44 PM
Kal itni low market mein itna high chal raha tha aj itni high market mein low  :dunno:


Hold ur pulse dude  ::)
Title: Re: AICL -- Adamjee Insurance
Post by: Poker Face on December 10, 2010, 03:37:34 PM
High to jana chahiye kyunki is ne 15 rupee last qtr ki earning jo show karni hai.  :laugh:
Title: Re: AICL -- Adamjee Insurance
Post by: Trademaster on December 10, 2010, 04:22:39 PM
Ye kambakht din bher 84 se oper trade hota hai end mein break kar jata hai  :brickwall:


Patience. abi 1.15 min hain.

Great  :goodc:

Title: Re: AICL -- Adamjee Insurance
Post by: invincible on December 10, 2010, 04:23:01 PM
Ye kambakht din bher 84 se oper trade hota hai end mein break kar jata hai  :brickwall:


Patience. abi 1.15 min hain.


Now get fruit of patience  :shoaby:
Title: Re: AICL -- Adamjee Insurance
Post by: Trademaster on December 10, 2010, 04:33:15 PM
Now it looks strong towards 90.  :shoaby:

Lets see final closing kis rate pe aati hai.
Title: Re: AICL -- Adamjee Insurance
Post by: invincible on December 10, 2010, 04:34:50 PM
Gr8, :banana:  closed wid massive vloume. 6 lac traded in 12 min.
Title: Re: AICL -- Adamjee Insurance
Post by: invincible on December 10, 2010, 04:52:22 PM
Gr8, :banana:  closed wid massive vloume. 6 lac traded in 12 min.


Closed on 84.26. Farzzoq n MM bro throw some light on further move.

Regards
Title: Re: AICL -- Adamjee Insurance
Post by: invincible on December 11, 2010, 12:53:40 PM
Gr8, :banana:  closed wid massive vloume. 6 lac traded in 12 min.


Closed on 84.26. Farzzoq n MM bro throw some light on further move.

Regards


Answer is eagerly awaited  ::)
Title: Re: AICL -- Adamjee Insurance
Post by: M&M on December 11, 2010, 02:59:36 PM
Gr8, :banana:  closed wid massive vloume. 6 lac traded in 12 min.


Closed on 84.26. Farzzoq n MM bro throw some light on further move.

Regards


Answer is eagerly awaited  ::)
hold
Title: Re: AICL -- Adamjee Insurance
Post by: invincible on December 11, 2010, 06:10:26 PM
Gr8, :banana:  closed wid massive vloume. 6 lac traded in 12 min.


Closed on 84.26. Farzzoq n MM bro throw some light on further move.

Regards


Answer is eagerly awaited  ::)
hold


Ok Big boss  :s1:
Title: Re: AICL -- Adamjee Insurance
Post by: invincible on December 13, 2010, 11:22:26 AM
MashAllah  :shoaby:  :banana:
Title: Re: AICL -- Adamjee Insurance
Post by: Trademaster on December 13, 2010, 11:26:34 AM
 :shoaby: :banana:

Great yar.

Thnx to all seniors for guidance. :thanks:
Title: Re: AICL -- Adamjee Insurance
Post by: Rizvi on December 13, 2010, 11:33:36 AM
Sell or still hold?
Title: Re: AICL -- Adamjee Insurance
Post by: invincible on December 13, 2010, 11:34:59 AM
Dont forget to book profit. Correction is due in mkt. regards
Title: Re: AICL -- Adamjee Insurance
Post by: Rizvi on December 13, 2010, 11:41:52 AM
mutlub i should sell and then buy after correction?
Title: Re: AICL -- Adamjee Insurance
Post by: invincible on December 13, 2010, 11:46:43 AM
mutlub i should sell and then buy after correction?


Yar I myself confused wht to do, mind says to sell n heart says to hold. U decide urself bt correction is due.
Title: Re: AICL -- Adamjee Insurance
Post by: Rizvi on December 13, 2010, 11:55:56 AM
Haha..thnx dost
Title: Re: AICL -- Adamjee Insurance
Post by: M&M on December 13, 2010, 11:57:28 AM
sell on strength
Title: Re: AICL -- Adamjee Insurance
Post by: stockist on December 13, 2010, 11:58:14 AM
I recomend sell, dont wait anymore, for shortterm
Title: Re: AICL -- Adamjee Insurance
Post by: invincible on December 13, 2010, 02:11:20 PM
CAP  :shoaby:  BUT I sold earlier  :brickwall:
Title: Re: AICL -- Adamjee Insurance
Post by: Farzooq on December 13, 2010, 03:59:51 PM
(http://i229.photobucket.com/albums/ee214/farzooq/aicl-5.jpg)
Title: Re: AICL -- Adamjee Insurance
Post by: Farzooq on December 14, 2010, 04:11:38 PM
(http://i229.photobucket.com/albums/ee214/farzooq/aicl-5.jpg)

 :skeptic:
Title: Re: AICL -- Adamjee Insurance
Post by: Trademaster on December 14, 2010, 05:34:58 PM
Thnx Sir

AICL ke total no of shares kitne hain?
Title: Re: AICL -- Adamjee Insurance
Post by: Trademaster on December 14, 2010, 05:38:07 PM
Is ke ilawa Divident and bonuses bhi hain jo is quarter mein recieved hoe hain in securities se
Title: Re: AICL -- Adamjee Insurance
Post by: Farzooq on December 14, 2010, 06:12:56 PM
Is ke ilawa Divident and bonuses bhi hain jo is quarter mein recieved hoe hain in securities se

Yes
Title: Re: AICL -- Adamjee Insurance
Post by: Farzooq on December 14, 2010, 06:14:25 PM
Thnx Sir

AICL ke total no of shares kitne hain?

150m
Title: Re: AICL -- Adamjee Insurance
Post by: jahangir on December 14, 2010, 07:03:40 PM
but did they sell all the holdings? or is it unreleased profit.
Title: Re: AICL -- Adamjee Insurance
Post by: Farzooq on December 20, 2010, 02:15:57 PM
 :banana:
Title: Re: AICL -- Adamjee Insurance
Post by: Trademaster on December 20, 2010, 02:22:55 PM
Dear Sir

Still Hold or book profit?
Title: Re: AICL -- Adamjee Insurance
Post by: M&M on December 20, 2010, 02:43:32 PM
target met with a bang  :goodc:
Title: Re: AICL -- Adamjee Insurance
Post by: Farzooq on December 21, 2010, 11:31:34 AM
Insurance: AICL - CY10 Does Not Have Much to Offer
   AICL has appreciated by 44% since Oct10, outperforming the KSE by 29% over the same period. The stock rally came on the back of anticipated gains on AFS securities and the recent announcement of IPO for Pakgen

   We expect CY10 results for AICL to remain dull due to 1) rising claims on the back of flood losses, 2) little room for reversal of impairment on AFS securities and 3) no major improvement in company’s core business activity

   Floods came as a major hit to the core business activity, increasing combined ratio by 20.5% on QoQ basis and 19.2% on YoY basis; however this event represents a one-time hit and both claim ratio and combined ratio are expected to revert back to ~66% and ~83% levels

   Given the economic and political uncertainty prevailing in the country, insurance industry does not present a healthy picture. Insurance industry over the last year has experienced a decline of 6% in net premium and has not shown improvement in combined ratio. We thus maintain an Underweight stance on the sector

   AICL does not appear to be too attractive given its PBV of 1.06x. We are however looking to bring the company under detailed coverage and will update our stance in due time
 
BMA
Title: Re: AICL -- Adamjee Insurance
Post by: invincible on January 04, 2011, 10:22:24 AM
Farzooq n MM bro: I took position in aicl yesterday, should I sell it on strength or hold? Plz opine.

Regards,
Title: Re: AICL -- Adamjee Insurance
Post by: Farzooq on January 04, 2011, 10:35:43 AM
Farzooq n MM bro: I took position in aicl yesterday, should I sell it on strength or hold? Plz opine.

Regards,


sell on strength
Title: Re: AICL -- Adamjee Insurance
Post by: invincible on January 04, 2011, 10:38:00 AM
Farzooq n MM bro: I took position in aicl yesterday, should I sell it on strength or hold? Plz opine.

Regards,


sell on strength


 :thanks:
Title: Re: AICL -- Adamjee Insurance
Post by: Farzooq on January 12, 2011, 11:40:19 AM
Insurance: AICL - Initiating Coverage with NEUTRAL Stance
   We now formally intiate coverage on AICL with SoTP based target price for 31 Dec, 2011 of PKR87/share – where PKR44/sh is being contributed by the investment portfolio while core business accounts for PKR43/sh

   We expect CY10 results for AICL to post YoY decline of 78% in profits due to 1) rising claims on the back of flood losses, 2) little room for reversal of impairment on AFS securities and 3) no major improvement in company’s core business activity

   We do not expect significant dividend income for 4QCY10; however upside risks posed by gain on sales of AFS may boost investment income

   Floods came as a major hit to the core business activity, increasing combined ratio by 20.5% on QoQ basis and 19.2% on YoY basis; however this event represents a one-time hit and both ratios (claim ratio and combined ratio) are expected to revert back to ~66% and ~83% levels respectively

   Based on last closing price of PKR89/share, the stock currently offers a meager potential downside of 2% while it trades at CY11E PBV of 1.0x. We thus recommend a NEUTRAL stance on the stock
 
BMA
Title: Re: AICL -- Adamjee Insurance
Post by: Farzooq on January 14, 2011, 09:53:55 AM
ADAMJEE INSURANCE COMPANY LIMITED - Analysis of Financial Statements Financial Year 2004-3Q Financial Year 2010


OVERVIEW  (January 14, 2011) : The insurance industry of Pakistan forms a meagre part of the GDP as compared to other nations of the world. With a very low penetration level, the industry is still in its nascent stage in consequent of lower demand.

The concept of insurance in Pakistan is not acceptable on account of many reasons; most prominently being the positioning, marketing and distribution related issues. Furthermore, the demand for insurance depends on real disposable income of the prospective policyholder, the individual's preference about the need for financial security, economic environment, interest rates, inflation and insurance premium rates; factors which are all missing in the Pakistani scenario. Then the cultural and religious factors also play an integral part.

Pakistan's insurance sector is reaping the benefits of a growing economy coupled with the insurance sector reforms, soaring trade activities, improving per capita income and competition among insurance sector companies, which are driving the current growth in the insurance sector. The gross premiums and net premiums of the insurance industry have shown an increasing trend, thanks to the better marketing environment. Also, the percentage of gross premium to GDP also showed an increasing trend over the period under assessment. This trend is indicative of growth of insurance penetration in the economy.

At present there are 54 insurance companies out of which 49 companies offer non-life insurance and 5 offer life insurance services. The non-life insurance industry also includes six companies that provide health insurance coverage as well.

Recent results (3Q10)

During the period under review, company has underwritten the premium of Rs 8,446 million and registered growth of 14% over the corresponding period. Net premium written was Rs 5049 million, a decline of 2.6%. The third quarter has seen considerable increase in claim expenses under the classes of 'Fire and Property Damage' and 'Crop' business due to the natural catastrophe and floods in the country. However, on a 9M to 9M basis, the increase was 6.7% more in 2010 as compared to 2009. The main reason behind the massive decline in profitability was the investment income. The investment income has declined by 85% as compared to last year and there is a charge of Rs 165 million during the period due to adverse position of stock markets in the country. All the other expenses were in the same range as compared to the previous years.

The profit before and after tax declined by 91% to Rs 231 million and 94% to Rs 133 million respectively, from the same period of last year. EPS was Rs 1.08 in 9MFY10 as compared to Rs 18.66 in 9MFY09.

Non-life insurance

There is a monopolistic competition within the non-life insurance sector in Pakistan as there are around 49 non-life insurance companies. The promulgation of insurance ordinance in 2000 and subsequent regulatory changes strengthened the regulatory and supervisory infrastructure for NLI companies. For instance, enhancement in paid-up capital requirement improved the equity structure and reduced the number of non-profitable companies. The non-life insurance sector's profitability has jumped by 17 percent in the 1st half of current year over the same period last year. The demand for auto insurance, marine insurance, and fire insurance augmented owing to availability of consumer financing at low interest rates, unprecedented rise in trade volumes and increased uncertainty due to terrorist attacks in many regions, surge in industrial activity and high growth construction business respectively. The structure of the NLI sector is still skewed. The top 5 companies have more than 70 percent in the overall assets and net premium of the sector.

Claim ratio of the sector depicted a declining trend while combined ratio of the sector stood at 79 percent versus 80 percent in 2006. Moreover, expense ratio of the sector stood at the level of last year, ie 18 percent. With the enhancement in the insurance products, further growth is expected in this sector.

Adamjee Insurance Company Limited (AICL) was incorporated as a public limited company on September 28, 1960. The primary business of the company is to provide General Insurance at retail and corporate levels. AICL is listed on Karachi and Lahore stock exchanges of the country. The company is also registered with the Central Depository Company of Pakistan Limited (CDC). AICL broadly is involved in underwriting the following classes of businesses:

AICL offers three products in the retail insurance category namely, Fire, Motor, and Bancassurance. While for corporate customers it has Engineering, Fire, Health, Livestock, Marine, Specialised Cover and Miscellaneous insurance coverage options.

AICL has a diversified client portfolio encompassing both retail corporate levels. The company insures most of the banks. Moreover, it insures petrochemical and complex industrial risks of very high value. The company has a major market share of engineering business in Pakistan. It provides Insurance protection to most of the private sector telecommunication industries. It also insures most of the textile mills, sugar mills and cement factories of the country along with covering the energy risks in Pakistan. Foreign concerns entering Pakistan to execute construction, erection or infrastructure development projects are insured by AICL. Also, the company is the principal insurer in Pakistan against kidnapping for ransom, professional indemnity, product liability and other specialized lines.

Starting with a paid up capital of Rs 2.5 million, AICL has grown phenomenally to the current paid up capital of Rs 1.022 billion which is the highest amongst all the general insurance companies. AICL enjoys a competitive edge in the insurance industry due its strong asset base, paid up capital, huge reserves, and balanced portfolio mix, steady growth in gross premium and continuous increase in share price at the stock market. All these attributes place Adamjee Insurance in the top notch of the non-life insurance sector. Based on the amount of assets and total premium, the company can be safely considered as the market leader in non-life insurance with a total share of 42%.

Over the years, AICL has posted a tremendous growth in its net premiums and gross premiums. The demand for insurance is a function of rising GDP and booming manufacturing and service sector of Pakistan. A substantial contribution in the growth was by the motor insurance policy followed by fire insurance policy. The consumer finance explosion in the last four or five years has helped the motor insurance industry to thrive while enhancing the demand for cars. Banks that are offering car finance loans have put together special deals with insurers for their customer base.

The growth in the net premium in marine business of Adamjee Insurance Company Limited is attributable to the overall growth in the exports and imports of Pakistan in the current period. Fire and property damage insurance is also on the rise in consequent of a surge in the construction of shopping centers, residential properties etc and therefore has provided ongoing opportunities for insurers. Furthermore, the building of residential properties for a growing middle class and their subsequent insurance is being encouraged by an increase in loan facilities from banks.

Portfolio analysis (CY08-CY09):

Fire and property: The fire portfolio includes engineering and terrorism business. With a gross premium of Rs 3.553 billion (2008: 3.381 billion), this class showed a growth of 5% since last year. It contributed 35% towards the total gross premium.

The underwriting profit amounted to Rs 243 million (2008: Rs 185 million) which increased by 31%. The underwriting profitability ratio is 21% and the combined ratio has improved to 79% as against 88% in 2008. This is mainly due to decrease in claims by 32%.

Marine, aviation and transport:

The slowdown in economy specially imports and exports affected this class of business which showed a decrease in gross premium by 25%. This class contributed 11% towards the total gross premium (2008: 15%). The underwriting results of Rs 223 million depicted remarkable increase of 38% over last year.

The underwriting profitability is 23% and combined ratio under this portfolio is 77% as against 87% in 2008. This improvement is mainly attributable to net claims and net commission which decreased by 32% and 29% respectively.

Motor

Motor business constitutes largest portfolio being 36% of total gross premium (2008: 38%) and 51% of total net premium (2008: 50%) of the company. In 2009, the economy faced liquidity crunch and banks restricted their lending. As a result the automobile sector remained slow during first half of 2009. The decrease in prices by automobile manufacturers from July 2009 improved the situation.

These circumstances had an impact on your company and gross premium decreased by 3%. The combined ratio however has improved to 94% as against 98% in 2008, due to which underwriting profits amounting to Rs 191.5 million, recorded an increase of 123% over last year.

Miscellaneous:

Miscellaneous business constitutes health, crop, livestock, travel insurance and other lines of business. The gross premium amounted to Rs 1.898 billion showing an increase of 32%. This class contributed 18% towards both total gross premium and the total net premium.

Industry results (FY09):

The insurance industry grew at a rate of 6% in the CY09, the same rate observed in the last 2 years. However the industry has a lot of room to grow, taking in account the fact that the industry only represents 0.8 percent penetration rate ie insurance premium represent only 0.8 percent, which is the lowest among comparable countries. The reason for a somewhat low performance can be associated with the emergence of macroeconomic instability since late 2007, turmoil in global financial markets and dislocation of the domestic equity market along with the deteriorating security situation, posed substantial challenges to the sector in 2008.

According to the 2009 data, there are 31 general (non-life) insurance companies operating in the market. Approximately 60 percent of the market share is with the top three players; that are namely:

-- EFU General Insurance Ltd.

-- Adamjee Insurance Ltd

-- IGI Insurance Ltd

For the purpose of analysing this sector I have selected three top insurance companies in addition to the three mentioned above. The six companies are ranked as the top companies in terms of total assets possessed. Three additional companies are as follows:

-- Security General Insurance

-- New Jubilee Insurance

- Premier Insurance

These six companies out of 31 in total represent 79% of total industry assets, which signals a very high degree of concentration of resources.

Operating performance:

The operating performance in terms of under writing profits to net premium, IGI Insurance and Security General showed very high ratios of 41% and 29%, compared to other companies that range between 10% to 1%. However a closer look reveals both IGI and Security Gen actually performed pretty badly in terms of net premium earnings in rupees of just Rs 614 million and Rs 286 million respectively compared to net premiums as high as Rs 5.5 billion and Rs 6.8 billion of EFU and Adamjee respectively.

Another look into the operating performance of the companies reveals that although EFU performed very well in terms net premium earned, however it was not very lucky in avoiding the claims on its insurance which were as high as 70% of net premium this year. On the other hand Adamjee and New Jubilee were both efficient in terms of ratio of net claims to net premium of 65% and 62% respectively that resulted in savings. The other three did not earn enough net premiums this year and thus net claims weren't much either.

Adamjee Insurance displayed great efficiency in terms its management expenses as well keeping it at a very efficient rate of 29% of net premium earned. Other players also kept it controlled between 24% and 69%.

In terms of commission to net premium there is not much to compare as all the companies have kept it aligned at 7% to 11%.

Profitability ratios:

In terms Profit after tax to Net Premium IGI securities had the highest ratio of 43%, while Adamjee and New jubilee were next in line with a ratio of 36% and 29% respectively. Although the ratio is a good indicator of performance a closer look is necessary to get a better picture of performance. IGI this year relied heavily on its investment income which represented 70% of its net premium, thus despite having poor underwriting results the ratio was still healthy. However IGIs performance in terms of investment income to investment assets wasn't highly admirable with a ratio of only 4%, thus signifying IGIs performance this year both in terms of net premium earned and investment income was dismal.

As can be seen from the graph the best performer of all is clearly Adamjee as all its ratios seem to be balanced, because of which it has the best investment income to investment assets ratio of 23%. EFU, although possessing the same strength as Adamjee in terms of assets, did not live up to expectations, performing low on all accounts. However performance of New Jubilee insurance must applauded with a healthy investment income and net premium.

A much better measure of performance in these circumstances shall be return on assets that shows a much truer picture. Adamjee is best performer with 11% return on assets, and New Jubilee is the second best with 10% while the ratios of all other players are disappointing.

Market value

Adamjee's superiority in the market is evident by the studying the EPS and the share market price, with EPS of Rs 21.71 and share price of Rs 127.5. EFU although stronger that Adamjee in terms of total assets still lags behind in both EPS and share price as its efficiency keeps on declining and so do the future expectations of earnings. Nonetheless, the performance of NJI must be commended as it only represents 6% of the market but still its share price is comparable to big players such as EFU who represent 24% of the market. Thus going forward there is a huge potential for growth for Adamjee and especially NJI.

Recent performance

Adamjee's performance in CY09 was nothing short of spectacular given the context of the industry and struggling economy. The profit after tax which represented 36% of the net premium grew by an amazing 124% in CY09. The reason for such fabulous growth in profits was in summary attributed to a rise in investment income and also tremendous efficiency shown in keeping down the expenses.

=====================================================
Financial Results                  2009          2008
=====================================================
Total Assets                     21,612        19,004
Equity                           10,781         8,559
Gross Premium Underwritten       10,321        10,205
Underwriting Results                679           367
Investment Income                 2,479         1,098
Profit After Tax                  2,434         1,099
=====================================================

The distribution of revenue in the calendar year 2009 changed from the last year, as contribution of investment income as revenue source increased from 13% to 27%.

Net premium revenue represented a lesser percentage (72%) of total revenue compared to last year when 85% of the total revenue was net premium.

However it must be noted that the sharp increase in investment income over shadowed the fall in premium earned that was 9% lower than the last year. The reason for higher investment income this year can be attributed to the increased investment in 1 year treasury bills and also to the fall in provision made for impairment in value of investment.

Nevertheless the decrease in net premium cannot be ignored as it represents the greatest chunk of revenue Admajee. However the slow growth in the overall industry and present economic turmoil has been a primary reason for why Adamjee's net premiums decreased.

Furthermore, as a positive sign, the net claims decreased by 14%, due to a much better situation of the country in terms law and order compared to the last year. This resulted in an 85% improvement in underwriting results this year.

Investment income

The return from available-for-sale (AFS) securities contributed entirely to the investment income while there was no return from the held to maturity securities. In available for sale securities the return on both fixed income and TFCs declined by 42.1% and 8.3% respectively. On the other hand the dividend income increased by 6.64% and gain on sale for AFS securities increased by 192.35%. This resulted in increase in net investment income by 99.44%.

Increase in demand for insurance as discussed earlier consequently boosted the revenue generating from the premiums rose in FY06. During FY06, fire and motor insurance contributed 37% and 31% towards the total insurance policy portfolio respectively. AICL enjoys the competitive advantage of having a diversified set of insurance policies. Thus, any setback in one revenue source is offset by the other source of premiums.

While the premiums increased on the one hand, the claim rate also increased resulting in lower growth in underwriting profits as a percentage of total premiums. The underwriting profits increased at a decreasing rate with the major claims emanating from fire and property damage. The management of AICL is trying to bring down the claim ratio through better risk management and diversification. Furthermore, the claims for motor insurance are also on a higher side as reflected in higher traffic incidents because of irregularities in traffic management, violation of traffic rules and rising theft cases. AICL has taken strict measures to improve the quality of business and to curtail the claim ratio by improving controls in the motor claims settlement procedure.

A thorough study of the financial statements reveals that the best policy for Adamjee Insurance is Marine insurance policy as the claim rates are on the lower side while the high risk attached enables the company to fetch higher premiums. In the motor insurance, the higher premiums have offset the high proportion of claims coming from the policyholders.

The underwriting profits and the net premiums registered an increase of 55.6% and 10.6% respectively in June 2007 as compared to June 2006. Being a relatively old company, AICL enjoys a large network of clients who trust the service of AICL. This also justifies the increasingly higher growth margins of the company.

Despite an upsurge in the total claims, most noticeably the motor claims, AICL has been able to perform well as far as management of expenses is concerned. The high net premiums charges against the higher risk have mitigated the effect of higher claims. As a result net loss ratio has posted a declining trend. The expense ratio as measure by total underwriting expenses including commissions to net premiums has also registered a declining trend continuing in FY07 as well, owing to better management and efficiency on part of the company.

The combined ratio is the sum of loss ratio and expense ratio. It is a measure of insurer profitability, which does not consider investment income and takes into account only the income generated by core business of the insurance company. AICL showed posted declining tendency in combined ratio in FY05. It now hovers around 91% after posting a marked decline in combined ratio in FY06 and indicates that the company is making underwriting profit. Before that it was paying out more money in claims that it was receiving from premiums.

Other comprehensive indicator of profitability is the net income margin as a percentage of total premiums. Income margin too has been favorable for the company as a result of higher income coming from investment portfolio. Higher returns from capital gains have offset the higher claims and expenses in favor of the company. Thus, AICL has overall posted a healthy trend in its profitability measures.

AICL has carried out its major investment in shares of listed companies. The stock portfolio is well-diversified encompassing shares of both volatile and non-volatile sectors. Since the Stock Market of Pakistan is a characteristic of changing political and international scenarios, market risk is pervasively high for the company. 69% of the company's investment income comes through capital gains and dividend income through long-term holdings, which depicts the unstable nature of AICL's income. On a more holistic note, AICL has a well-diversified investment portfolio with all three modes of generating income namely dividend income, interest income and income from capital gains. Now that the tax has been exempted from the capital gains, AICL will be the major beneficiary. With the stock exchange posting a bullish trend over the years, AICL has been able to reap benefits through high capital gains and dividend income. However, the increased instability in the country will have a magnified effect on the investment income of AICL since it greatly relies on the returns from investment in KSE, which is undergoing a bearish trend these days.

Investment income per unit of investment asset has increased tremendously over the years. The dip in the ratio was seen in FY05 and can be attributed to a greater increase in the investment assets most noticeably marketable securities. Investment income as a percentage of net premiums has also shown an increasing trend and substantiates the increasing proportion of returns generated through investment portfolio.

Adamjee Insurance has decreased its reliance on debt evident from the debt management graph. This augers well for the company, as the financial risk has been mitigated considerably. With better yields and strong market performance, AICL is now diverting its focus on equity financing. But with the shaky investors' confidence seen these days owing to instability and political turmoil, AICL might have to shift towards debt financing adding to the financial risk for the company as people (both local and foreign investors) are reluctant to invest.

The capital adequacy indicators deal with the regulatory aspect with emphasis on paid-up capital and total equity. AICL enjoys high capital adequacy ratios owing to increase in paid-up capital requirement, retained earnings from increased profit levels and increased accumulated net surplus. The declining paid-up capital to equity ratio is due to high denominator effect because of the reasons discussed above. Thus, AICL has fulfilled the capital requirements as laid down in the regulatory framework. In fact, it enjoys the highest paid-up capital in the industry and thus enjoys leadership in this regard.

COURTESY: Economics and Finance Department, Institute of Business Administration, Karachi
Title: Re: AICL -- Adamjee Insurance
Post by: Farzooq on January 14, 2011, 12:55:25 PM
We highlight insurance companies among the
primary beneficiaries of the Bull Run witnessed at the
KSE 100 index in 4Q2010 where the market gained
20%, accounting for almost 71% of 2010 gains.
Activity in non-life insurance sector picked up during
the period, slightly outperforming the market by 1%.
We believe this to be mainly attributable to
expectations of better investment income from a sizeable
equity portfolio, which these companies carry on their balance
sheets. AICL, the only non-life insurance company under our
coverage with an equity portfolio worth Rs9.2bn as of January
13, 2010 has outperformed the market by 14% in 4Q2010.
The stock currently trades at a 2011F PE of 9.1x, hence we
recommend to ‘Hold’ on to AICL.

AICL: Investment income could surprise in 2010
AICL’s core business ran into losses during 3Q2010 due to
the massive floods in the country, which is why we believe the
company’s full year underwriting business will remain under
pressure and will report a profit of Rs435mn (down 36%YoY)
in 2010. However, company’s equity portfolio, 70% of which
comprises of heavy weights like MCB, FFC, OGDC, PPL and
NCPL (up 17-47% in 4Q2010) could enable AICL to book
decent gains during the last quarter. The market value of the
company’s equity portfolio as of September 30, 2010 stood at
Rs6.9bn (Rs56 per share) and which then ballooned to
Rs8.4bn (Rs68 per share) by December 31, 2010. Insurance
companies generate a significant share of their profits via
their investments and hence the said Bull Run in the market is
likely to bode well for these.

Outlook
Amid the recent flooding in the country, the insurance sector
has suffered losses in its underwriting business. However,
equity market conditions have improved significantly since
then, which should provide a breather to these companies. In
the case of AICL, given the strong performance in the Middle
East and its plans for expansion in the region during the
current year (opening branches in Qatar and Abu Dhabi), we
foresee its underwriting business to rebound in 2011. The
scrip currently trades at a 2011F PE of 9.1x and we maintain
our ‘Hold’ call for it.

jsgcl
Title: Re: AICL -- Adamjee Insurance
Post by: invincible on January 20, 2011, 11:25:35 AM
Farzooq n MM bro, put some light on aicl, it looks v strong even 86 minus market?  :skeptic:
Title: Re: AICL -- Adamjee Insurance
Post by: Farzooq on February 02, 2011, 10:14:06 AM
PACRA maintains rating of AICL

KARACHI: The Pakistan Credit Rating Agency (PACRA) has maintained the Insurer Financial Strength rating of Adamjee Insurance Company Limited (AICL) at AA (Double A).

The rating denotes a very strong capacity to meet policyholder and contract obligations, and risk factors are considered modest.

The rating reflects AICL’s ability to sustain its leading position in the insurance sector despite intense competition and subdued economic environment.

However, the company’s underwriting margins remain thin. The management, while identifying new growth avenues, is rationalizing its cost structure to improve core performance. The rating incorporates the company’s strong risk absorption capacity emanating from robust financial profile and ample liquidity.
Title: Re: AICL -- Adamjee Insurance
Post by: invincible on February 02, 2011, 11:57:57 AM
Aicl ka downfall q start hugaya hai rating maintain hunay k bawajood?  :skeptic:
Title: Re: AICL -- Adamjee Insurance
Post by: M&M on March 11, 2011, 10:18:40 PM
keep an eye.
Title: Re: AICL -- Adamjee Insurance
Post by: 007 on March 12, 2011, 02:13:43 AM
spinning top on the daily charts  :fingerscrossed1:
Title: Re: AICL -- Adamjee Insurance
Post by: Farzooq on March 17, 2011, 10:23:50 AM
bm on 22nd march
Title: Re: AICL -- Adamjee Insurance
Post by: M&M on March 17, 2011, 02:56:28 PM
gap filled ..
Title: Re: AICL -- Adamjee Insurance
Post by: Farzooq on March 18, 2011, 12:06:25 PM
AKD Quotidian

AICL: CY10 Result Preview

Adamjee Insurance Company Ltd. (AICL) is expected to announce its full year CY10 result on March 22, 2011. We expect earnings to decline by 79%YoY to reach NPAT of PkR500mn (EPS: PkR4.04) in CY10 compared to NPAT of PkR2,434mn (EPS: PkR19.68) in CY09. Bottom-line decline is expected to be primarily driven by a combination of 1) lower risk retention, 2) higher claims during 2HCY10 (floods) and 3) lower investment income during the review period. In this regard, risk retention is estimated to reach 58% in CY10 against 66% last year and claims arising from the Aug'10 flooding are expected to enhance the claim ratio by 500bpsYoY to 70% in CY10. Despite favorable equity market conditions in 4QCY10 (and likely realization of gains), a high base effect last year due to impairment reversals should lower investment income by 67%YoY in CY10. Current price levels imply a Reduce stance with a target price of PkR75/share. However, we will be reviewing our investment case post CY10 results.

Title: Re: AICL -- Adamjee Insurance
Post by: Farzooq on March 21, 2011, 10:27:37 AM
Insurance: AICL - CY10E EPS to Decline by 86% YoY
 We expect AICL to post PAT of PKR335mn (EPS: PKR2.71) for CY10, down 86% YoY – the decline being largely attributable to minimal capital gains when compared to preceding year

 Net Premium for the company is expected to remain flat while sharp rise in claims during floods in 3QCY10 is likely to hurt the underwriting result. Overall claim ratio is expected to rise by 6% YoY from 65% in CY09 to 71% in CY10

 During CY10, the company is expected to generate interest and dividend income of PKR494mn (YoY increase of 12%) but will be unable to realize sizeable capital gains with balance of reversal of provisions for impairment being almost exhausted

 Based on last closing price of PKR78/share, the stock currently offers a potential upside of 12% to our Dec11 target price of PKR87/share, while it trades at CY11E PBV of 0.8x. We thus recommend a ADD stance on the stock

 BMA
Title: Re: AICL -- Adamjee Insurance
Post by: guru1 on March 22, 2011, 02:08:01 PM
iss ko kia hoa, any news?
Title: Re: AICL -- Adamjee Insurance
Post by: Farzooq on March 22, 2011, 02:13:54 PM
iss ko kia hoa, any news?

eps 4.18 dps 1.5
Title: Re: AICL -- Adamjee Insurance
Post by: junaidph on March 22, 2011, 02:57:48 PM
iss ko kia hoa, any news?
bad result , EPS Rs.4 and cash div 15% , well i expect its bad
Title: Re: AICL -- Adamjee Insurance
Post by: invincible on March 22, 2011, 02:59:39 PM
iss ko kia hoa, any news?
bad result , EPS Rs.4 and cash div 15% , well i expect its bad


68+ k qareeb buy krna chahyeh for short term gain. Mark my words.  :goodc:
Title: Re: AICL -- Adamjee Insurance
Post by: Poker Face on March 22, 2011, 03:53:29 PM
Seniours Plz comments ?

Detailed calculations have to be done to fimd out exact eps

Initial estimates suggest eps in range of 10-15
:arrowhead:
Title: Re: AICL -- Adamjee Insurance
Post by: Farzooq on March 22, 2011, 03:56:44 PM
Seniours Plz comments ?

Detailed calculations have to be done to fimd out exact eps

Initial estimates suggest eps in range of 10-15
:arrowhead:


the reason being  AICL will be unable to realize sizeable capital gains with balance of reversal of provisions for impairment being almost exhausted
Title: Re: AICL -- Adamjee Insurance
Post by: Farzooq on March 22, 2011, 04:34:15 PM
The market value of the
company’s equity portfolio as of September 30, 2010 stood at
Rs6.9bn (Rs56 per share) and which then ballooned to
Rs8.4bn (Rs68 per share) by December 31, 2010
Title: Re: AICL -- Adamjee Insurance
Post by: SK on April 11, 2011, 09:18:18 PM
Adamjee Insurance Co., Ltd (ACIL) - Result update CY10
Adamjee insurance Company Ltd (AICL) recently announced its full year CY10 result which
is lower than our expectation; the company posted NPAT of Rs519mn, down by 79%YoY. The
main reason behind the decline was stagnant growth in topline of the company; net claimsincreased due to floods coupled with lower investment income booked by the company
despite better performance of the equity market during the year. We expect that the
company to reap the benefits of stability in UAE operations. In CY10 the company showed
a huge increase of 67% in motor segment from outside Pakistan while the claims ratio of
this segment remained on lower side.
However, we are revising our stance to 'Hold' from 'Buy' with target price revised down to
Rs78/- (Dec-11) based on the assumption of slowdown in economic activities of the country,
prevailing law and order situation and no major room available for equity market to perform
in near future.

InvestCap Research
Title: Re: AICL -- Adamjee Insurance
Post by: Farzooq on April 26, 2011, 12:08:42 PM
Insurance: Adamjee General Insurance (AICL) - 1QCY11E EPS of PKR1.53
   Adamjee General Insurance (AICL) is scheduled to announce its 1QCY11 results on Wednesday, April 27, 2011

   We expect the company to post PAT of PKR189mn (EPS: PKR1.53) for 1QCY11 compared to PAT of PKR248mn (EPS: PKR2.00) for 1QCY10

   AICL is currently trading at CY11E PBV of 0.7x; our Dec11 TP at PKR87/share reflects potential upside of 27% from current levels. BUy
 
bma
Title: Re: AICL -- Adamjee Insurance
Post by: Farzooq on April 27, 2011, 02:58:39 PM
eps 2.33 above expectations
Title: Re: AICL -- Adamjee Insurance
Post by: Farzooq on April 30, 2011, 07:04:12 PM
http://www.adamjeeinsurance.com/downloads/pdf/annual_reports/2011/01_first_quarter/02_unconsolidated_march.pdf
Title: Re: AICL -- Adamjee Insurance
Post by: Farzooq on May 24, 2011, 01:31:14 PM
buy with stop below 64.5
low risk
Title: Re: AICL -- Adamjee Insurance
Post by: Farzooq on May 25, 2011, 12:32:49 PM
buy with stop below 64.5
low risk

(http://i229.photobucket.com/albums/ee214/farzooq/aicl-6.png)

seems no one is interested
it has broken out of falling wedge which is a bullish pattern
target 72 and then 85
Title: Re: AICL -- Adamjee Insurance
Post by: Farzooq on May 25, 2011, 01:36:24 PM
 :shoaby: :banana: :shoaby:
Title: Re: AICL -- Adamjee Insurance
Post by: Farzooq on May 26, 2011, 11:06:34 AM
:shoaby: :banana: :shoaby:

 :shoaby: :banana: :shoaby:
Title: Re: AICL -- Adamjee Insurance
Post by: M&M on May 26, 2011, 11:10:46 AM
bahut aalaa
Title: Re: AICL -- Adamjee Insurance
Post by: Farzooq on June 02, 2011, 11:37:23 AM
Adamjee Insurance (AICL) in its 1Q2011 result
reported a profit after tax of Rs289mn (EPS: Rs2.33),
up 17%YoY. Improved underwriting results, due to
higher net premium was the major reason for this
growth in the bottom line. Post this result we have
tweaked our assumptions and revised our 2011E
earnings to Rs7.21 per share from Rs6.95 per share
previously. Consequently, our target price for the scrip has
also been revised to Rs85 per share (potential upside of 25%
from current the market price) from Rs83 earlier. We maintain
our ‘Buy’ stance on it.

jsgcl
Title: Re: AICL -- Adamjee Insurance
Post by: Farzooq on June 16, 2011, 11:08:09 AM
Insurance: Adamjee Insurance (AICL) - Improving Fundamentals Calling for a BUY

   Claim Ratio and Expense Ratio for the company declined by 303bps and 566bps QoQ respectively in 1QCY11. Combined Ratio for the company now stands at reasonable levels resulting in 335% QoQ increase in underwriting result

   Latest records indicate that the book value of the company’s investment portfolio stands at PKR9.1bn against its current market value of PKR10.1bn (or PKR82/share)

   We value Adamjee Insurance (AICL) with SoTP based target price for Dec 31, 2011 at PKR88/share – where PKR41/sh is being contributed by the investment portfolio while core business accounts for PKR47/sh

   Based on last closing price of PKR67/share, the stock offers a potential upside of 31% to our Dec11 target price while it trades at CY11E PBV of 0.8x

   Given the strong investment portfolio value coupled with improving insurance business fundamentals we recommend a BUY on the stock. However we continue to believe that the stock performance will remain dependent on the performance of the broader index
 
bma
Title: Re: AICL -- Adamjee Insurance
Post by: STOCK.DEPENDENT on July 15, 2011, 11:52:00 AM
farzooq bhai, AICL k bare mein aapka kya view he? inhi levels pe ghoom rha he, short ya medium term k lia buying recommend krte hein aap?
Title: Re: AICL -- Adamjee Insurance
Post by: Farzooq on July 15, 2011, 01:52:41 PM
farzooq bhai, AICL k bare mein aapka kya view he? inhi levels pe ghoom rha he, short ya medium term k lia buying recommend krte hein aap?

better focus on scrips with high dividend yields
Title: Re: AICL -- Adamjee Insurance
Post by: Dhillon on August 25, 2011, 10:16:02 PM
AICL to post net profit of Rs538mn, translates into an EPS of Rs4.34
The board of AICL is scheduled to meet on Tuesday, August 30, 2011 to announce its 1HCY11 result. We expect the company to show healthy growth of 80% in its bottom-line. Gross premium of the company is expected to grow by 19% to Rs4.09bn, while net claims of the company will increase by 23%. Despite higher claim ratio, the underwriting results of the company is expected to improve as core profit would increase by 13%. The core profitability ratio of the company is expected to remain in the same region as same period last year at 89%. Profit from investment income is also expected to improve by 67% to Rs374mn as 1) the equity market remained in green zone during the period and 2) the company is shifting their investment towards the fixed income instruments which provide the bottomline a cushion against volatility.
We expect the company to book capital gain of ~Rs200mn due as the market was hovering at the peak levels during the period under review. The profit after tax of the company would thereby improve by 80% to reach at Rs538mn, which translates into an EPS of Rs4.34 as compared to last year PAT of Rs299mn (EPS of Rs2.41).

investcap
Title: Re: AICL -- Adamjee Insurance
Post by: 007 on August 27, 2011, 01:28:58 AM
short term trade acchi ho sakti hai

agar prediction theek hui tou
Title: Re: AICL -- Adamjee Insurance
Post by: 007 on August 27, 2011, 11:28:27 PM
Planning on buying 2k before result I think 2-3 re ki game ho sakti hai

Comments
Title: Re: AICL -- Adamjee Insurance
Post by: Poker Face on August 27, 2011, 11:32:13 PM
Come on 007
You are making entry just for a 2-3 rupee game?

Itni game to kisi bhi share mein ho sakti hai brother.
Anyway
go for it if u think its worth risk.  :biggthumpup:
Title: Re: AICL -- Adamjee Insurance
Post by: Farzooq on August 27, 2011, 11:32:59 PM
Planning on buying 2k before result I think 2-3 re ki game ho sakti hai

Comments

Aicls major investment is in banks and you can see recent performance of
Banking sector
Title: Re: AICL -- Adamjee Insurance
Post by: 007 on August 28, 2011, 01:04:50 AM
with 80 to 100 percent possible increase in eps from last half year and dividend annoucement which could be around 20 %, we can see some real gains 

(http://inlinethumb39.webshots.com/48998/2839437200103588977S600x600Q85.jpg) (http://good-times.webshots.com/photo/2839437200103588977qgqHQG)

may be its worth while taking a buy position tommorrow

lets C
Title: Re: AICL -- Adamjee Insurance
Post by: Farzooq on August 29, 2011, 12:36:24 PM

AKD Daily

AICL: 1HCY11 Result Preview

Adamjee Insurance Company Ltd (AICL) is scheduled to finalize its 1HCY11 result tomorrow. We expect the company to post NPAT of PkR548mn (EPS: PkR4.35) in 1HCY11 against NPAT of PkR299mn (EPS: PkR2.41) in 1HCY10, translating into a robust growth of 80%YoY. Alongside the result, AICL is expected to announce a first interim dividend of PkR1.50/share. While net underwriting is expected to be up 14%YoY and AICL has clearly focused on admin cost control, the bulk of projected growth should be driven by a strong increase in investment income (low base last year + some Pakgen gains). This should compensate for a likely higher claims ratio (66% in 1HCY11E vs. 64% in 1HCY10). AICL has shed 26%FYTD to trade at an attractive forward PER of 5.6x (annualized 1HCY11E) which, in our view, both limits further downside and offers a good investment opportunity considering full-year CY11F profits may end up 2x of CY10 profits. At current levels, our target price of PkR75/share implies a Buy stance. That said, we will look to revisit our investment case post release of detailed 1HCY11 accounts. 

Investment Perspective: Since the FY12 Budget, which did not contain the expected concessions on capital gains tax, AICL has shed 28% (17% underperformance vs. the Index). Going forward, while the KSE-100 Index has shed 26%FYTD which may depress sequential investment income, we expect AICL to post strong YoY growth in 2HCY11 as last year's profitability was affected by the Aug'10 floods (abnormally high claims). Based on annualized 1HCY11E profits, AICL trades at a forward PER of 5.6x. While our target price of PkR75/share implies a Buy stance, we will look to revisit our investment case post release of detailed 1HCY11 accounts.
Title: Re: AICL -- Adamjee Insurance
Post by: Farzooq on August 30, 2011, 11:11:50 AM
Insurance: Adamjee General Insurance (AICL) - 1HCY11E EPS of PKR3.98

   Adamjee General Insurance (AICL) is scheduled to announce its 1HCY11 results on today, August 30, 2011

   During 1HCY11, we expect PAT to increase by 65% YoY as a result of (1) 23% YoY increase in underwriting result primarily led by 15% YoY increase in net premium revenue coupled with 1% decline in combined ratio and (2) 46% YoY increase in investment income

   We expect the company to post PAT of PKR493mn (EPS: PKR3.98) for 1HCY11 compared to PAT of PKR299mn (EPS: PKR2.41) for 1HCY10

   On quarterly basis we expect the company to post PAT of PKR204mn (EPS: PKR1.65) for 2QCY11, up by 303% YoY

   AICL is currently trading at CY11E PBV of 0.5x; our Dec11 Target Price at PKR90/share reflects potential upside of 86% from current levels. BUY
 
bma
Title: Re: AICL -- Adamjee Insurance
Post by: STOCK.DEPENDENT on August 30, 2011, 02:02:04 PM
EPS 2.57 PREVIOUS 2.41
1 RUPEE D
Title: Re: AICL -- Adamjee Insurance
Post by: Trademaster on August 30, 2011, 02:25:05 PM
Hahaha. Hawa nikal gai iski. Ab to te 25 ya 30 rs mein mile ga. Series of lower lock from monday
Title: Re: AICL -- Adamjee Insurance
Post by: HAMDANI_Punjtani on August 30, 2011, 02:31:11 PM
EPS 2.57 PREVIOUS 2.41
1 RUPEE D
what a pathetic result . shuker hai mai ney buy nahee kia tha. tamam brokerage houses kay analysts ki chuti kar dainey chahiye specially bma ke :smilestar:
Title: Re: AICL -- Adamjee Insurance
Post by: Laoo Maal on August 30, 2011, 02:35:48 PM
EPS 2.57 PREVIOUS 2.41
1 RUPEE D
what a pathetic result . shuker hai mai ney buy nahee kia tha. tamam brokerage houses kay analysts ki chuti kar dainey chahiye specially bma ke :smilestar:
bhai bma ka pehle se hi inform karta aa raha hoo
bma wale mamoo bana rahe hote hain
dawh ki tp 92 bta rahe hai
itna bhi koi mamoo nahi betha
Title: Re: AICL -- Adamjee Insurance
Post by: 007 on August 31, 2011, 01:25:43 AM
AKD BMA Invest Cap sab hee nay 4 plus prediction ki thi


there must be some unusual item in my opinion
Title: Re: AICL -- Adamjee Insurance
Post by: Farzooq on September 07, 2011, 12:06:39 PM
AICL’s 1HCY11 results stand below expectations

Adamjee Insurance Company Limited (AICL) posted an EPS of Rs2.57, marginally up by 7% YoY with cash dividend of Rs1 per share for 1HCY11. The company recorded an appreciation of 8.4% in net premiums, while the claim ratio reached to 68% as against industry's 59%. The total claims rose by 15% YoY during 1HCY11 in which Misc segment was the major troublemaker, which had a leap of 61% YoY in 1HCY11, dragging the underwriting results of the company by 24% YoY to Rs300mn in 1HCY11 (though only Rs49mn in 2QCY11). However, company’s bottomline was up 7% YoY in 1HCY11, thanks to investment income which registered a jump of 99% YoY during the period. Overall, despite lower-than-expected earnings, we believe company’s operations in the Middle East coupled with relative improvement in law & order in the country is expected to provide cushion to the bottomline in the coming quarters. We reiterate 'Buy' on AICL’s scrip with our Dec-11 TP of Rs78/sh.

investcap
Title: Re: AICL -- Adamjee Insurance
Post by: Trademaster on September 07, 2011, 12:28:55 PM
Is quarter mein to investment income badly hurt hoi hai. Market itna giri hai is ki 3rd quarter earning hit ho gi. Agar market sep mein koi bara teer mar le aur divedend income se support mil jae to kuch behtar earning de sakta hai. I think Still wait for 3rd quarter result.
Title: Re: AICL -- Adamjee Insurance
Post by: M&M on October 08, 2011, 06:53:51 PM
keep an eye .. potential to cross 56
Title: Re: AICL -- Adamjee Insurance
Post by: Farzooq on October 27, 2011, 11:09:24 AM
Insurance: Adamjee General Insurance (AICL) - 9MCY11E EPS of PKR4.3

   Adamjee General Insurance (AICL) is scheduled to announce its 9MCY11 results today

   During 9MCY11, we expect PAT to increase by 3x YoY as a result of (1) 123% YoY increase in underwriting result primarily led by 12% YoY increase in net premium revenue coupled with 4% decline in combined ratio and (2) 96% YoY increase in investment income

   We expect the company to post PAT of PKR532mn (EPS: PKR4.30) for 9MCY11 compared to PAT of PKR133mn (EPS: PKR1.08) for 9MCY10

   On quarterly basis we expect the company to post PAT of PKR214mn (EPS: PKR1.73) for 3QCY11, compared to PAT of PKR165mn (EPS: PKR1.34) for 3QCY10

   AICL is currently trading at CY12E PBV of 0.5x; our Dec11 Target Price at PKR98/share reflects potential upside of 98% from current levels. BUY!
 
bma
Title: Re: AICL -- Adamjee Insurance
Post by: kamal on October 27, 2011, 11:20:56 AM
Insurance: Adamjee General Insurance (AICL) - 9MCY11E EPS of PKR4.3

   Adamjee General Insurance (AICL) is scheduled to announce its 9MCY11 results today

   During 9MCY11, we expect PAT to increase by 3x YoY as a result of (1) 123% YoY increase in underwriting result primarily led by 12% YoY increase in net premium revenue coupled with 4% decline in combined ratio and (2) 96% YoY increase in investment income

   We expect the company to post PAT of PKR532mn (EPS: PKR4.30) for 9MCY11 compared to PAT of PKR133mn (EPS: PKR1.08) for 9MCY10

   On quarterly basis we expect the company to post PAT of PKR214mn (EPS: PKR1.73) for 3QCY11, compared to PAT of PKR165mn (EPS: PKR1.34) for 3QCY10

   AICL is currently trading at CY12E PBV of 0.5x; our Dec11 Target Price at PKR98/share reflects potential upside of 98% from current levels. BUY!
 
bma

BMA ... 98 tau 12,500 levels main hoga ..

AICL Pata nahee kaaha ki valuations ... hain
Title: Re: AICL -- Adamjee Insurance
Post by: M&M on October 27, 2011, 02:33:41 PM
eps 2.98
Title: Re: AICL -- Adamjee Insurance
Post by: Trademaster on October 27, 2011, 02:48:53 PM
Disappointing again.

Is pe to 3 times mitti dal ke qul parh lein.
Title: Re: AICL -- Adamjee Insurance
Post by: kamal on October 27, 2011, 03:25:00 PM
Disappointing again.

Is pe to 3 times mitti dal ke qul parh lein.

Matti bhee mehngee hai bhaee ...  :biggthumpup:
Title: Re: AICL -- Adamjee Insurance
Post by: Farzooq on November 11, 2011, 12:12:09 PM
AICL post better earnings during 9MCY11

Adamjee Insurance Company Limited (AICL) posted an EPS of Rs2.98, up by a solid 176% YoY, while during 3QCY11 the company posted an EPS of Rs0.42 as against a loss incurred by the company in 3QCY10. The main reason for the loss in the bottmline during 3Q last year was significantly increased claims ratio amid floods hitting the country. During 3QCY11, the company turned into profits despite booking a loss of Rs0.09 per share from its Middle East operations (mainly due to an upsurge of 68% YoY witnessed in the general and admin. expense). During 9MCY11, the company earned net investment income of Rs935mn as compared to last year's Rs336mn, contributing 189% to its pre-tax profits.

Despite lower earnings during 3QCY11 recorded by the company, we still believe that in the coming quarters AICL can perform better on the back of relatively better law & order situation in the country for a while now with stable to rising capital markets, as investment income stands as a major earnings support to the company. We reiterate 'Buy' on AICL with our Dec-11 TP of Rs78/share.

investcap
Title: Re: AICL -- Adamjee Insurance
Post by: Farzooq on November 14, 2011, 12:27:22 PM
MCB Investment Services is pleased to announce the launch of Invest for Life, a unique single-payment Investment plan with built-in natural death and free accidental death insurance.

 The plan is issued by Adamjee Life Assurance Limited, whereas MCB Bank Limited is a distributor of the Plan.
Title: Re: AICL -- Adamjee Insurance
Post by: Farzooq on December 09, 2011, 11:21:00 AM
Adamjee Insurance (AICL) in its 9M2011 result
reported a profit after tax of Rs369mn (EPS: Rs2.98),
up a massive 177%YoY. Improved underwriting
results due to higher net premium and significantly
high investment income were major reasons for this
growth. In 3Q, the company posted a nominal PAT of
Rs51mn compared to a loss of Rs165mn last year.
Recall that 3Q2010 was hit by floods which resulted in a
dismal performance of the company. Post this result we have
tweaked our assumptions and revised down our 2011E-13F
earnings estimates by 18-52%. Consequently, our target price
for the stock has also been revised down to Rs63, still offering
a potential upside of 46%. Thus, we maintain our ‘Buy’ stance
on it

Recommendation: ‘Buy’ maintained
Post this result, we have revised down our earnings estimates
for 2011E-13F by 18-52%. However, given its improvement in
the underwriting business with major support coming in from
its expansions in the Middle East, AICL is set to cash in on
the very low penetration of the insurance sector in Pakistan.
Furthermore, major support from investment income is likely
to add more fuel to the bottom line going forward. The stock
currently offers a potential upside of 45% to our revised target
price of Rs63 and we maintain our ‘Buy’ call on it.

EPS revision
(Rs) New Old ?%
2011E 3.49 7.21 -52%
2012F 6.91 8.45 -18%
2013F 7.57 9.64 -21%
Target Price 63 83 -24%
Source: JS Research
Title: Re: AICL -- Adamjee Insurance
Post by: M&M on February 02, 2012, 09:59:28 AM
(http://i.imgur.com/VH4O6.png)
(http://i.imgur.com/jtyl1.png)
Breakout @ 54
Title: Re: AICL -- Adamjee Insurance
Post by: M&M on February 08, 2012, 10:01:44 PM
ziddi bacha  :biggrin:
Title: Re: AICL -- Adamjee Insurance
Post by: AGz on February 09, 2012, 09:57:19 AM
ziddi bacha  :biggrin:

Hahahaha  :laugh:
Title: Re: AICL -- Adamjee Insurance
Post by: M&M on February 10, 2012, 01:51:36 PM
AICL is up almost 40% from dec lows
Title: Re: AICL -- Adamjee Insurance
Post by: M&M on February 21, 2012, 10:32:25 AM
trading above 54  :fingerscrossed1:
Title: Re: AICL -- Adamjee Insurance
Post by: kamal on February 21, 2012, 10:33:24 AM
trading above 54  :fingerscrossed1:

Wow ..70;s ka hai ....Bonus Dai dai is martbaa Allah karay ..
Title: Re: AICL -- Adamjee Insurance
Post by: Farzooq on February 22, 2012, 12:59:30 PM

(http://i229.photobucket.com/albums/ee214/farzooq/aicl-7.png)

Inverse head and shoulder pattern on charts
Break above 55 would target 65-70rs

Title: Re: AICL -- Adamjee Insurance
Post by: M&M on March 01, 2012, 01:11:02 PM
is dheed ka number kab ayega i wonder
Title: Re: AICL -- Adamjee Insurance
Post by: Farzooq on March 01, 2012, 01:17:45 PM
is dheed ka number kab ayega i wonder

taking a lot of time
might breakout near its result by mid march  :fingerscrossed1:
Title: Re: AICL -- Adamjee Insurance
Post by: kamal on March 01, 2012, 01:20:35 PM
is dheed ka number kab ayega i wonder

taking a lot of time
might breakout near its result by mid march  :fingerscrossed1:

BREAK HEE NAHEE HOJAI YEH >>>ME also holding abb tak 60 tau hojana chiay tha yaar ..Waisay insurance sector 2011 was great ..
Title: Re: AICL -- Adamjee Insurance
Post by: Farzooq on March 02, 2012, 03:52:13 PM

is dheed ka number kab ayega i wonder

taking a lot of time
might breakout near its result by mid march  :fingerscrossed1:

Is ka number bhi aa hi gaya
Trying its best to close above 55
Title: Re: AICL -- Adamjee Insurance
Post by: M&M on March 02, 2012, 05:58:02 PM

is dheed ka number kab ayega i wonder

taking a lot of time
might breakout near its result by mid march  :fingerscrossed1:

Is ka number bhi aa hi gaya
Trying its best to close above 55
i think it will continue uptrending in higher high and higher low pattern
Title: Re: AICL -- Adamjee Insurance
Post by: Poker Face on March 02, 2012, 06:04:52 PM

Aicl holdings

21m mcb
1m dgkc
800k nml

800k ahsl

1m abl
5.5m bahl
3.2m hmbl
1.1m nbp
2m ubl

20m ncpl

110k pso
325k shell
2m sngp

1.6m ogdc
400k pol
1.4m ppl

1.1m inil

300k agtl
300k mtl
170k siemen

350k engro
400k ffbl
1.2m ffc

1.2m abot
700k glaxo

500k mureb
32k nestle
26k ulever

is porfolio ki kitni value hogi is tezi ke baad and what is expected eps of AICL for Q1 2012 if index maintains 13000 till 31 march?
Title: Re: AICL -- Adamjee Insurance
Post by: Farzooq on March 02, 2012, 06:37:32 PM
Market value of investments would increase but no impact on earnings. Dividends will be booked in 4q 2011 and 2q 2012.

Aicl is expected to post eps of 5 for 2011 dps 2 and bonus 10%
Title: Re: AICL -- Adamjee Insurance
Post by: Poker Face on March 02, 2012, 06:39:01 PM
nml 1.25m
hubc 115.5k
dgkc 1.4m
mcb 25.6m
lalpir 27.6m
pakgen 29.7m
ahcl 960k
abl 1.4m
akbl 1.6m
bahl 7.7m
bafl 837k
hbl 280k
hamb 3.7m
nbp 1.7m
snbl 284k
ubl 3.8m
efug 15k
pakri 286k
hirat 400k  :thumbsup_anim:
kapco 85k
pso 110k
shell 174k
sngp 1.9m
ogdc 790k
pol 427k
ppl 1.5m
inil 1.4m
agtl 300k
mtl 400k
siem 171k
engro 135k
ffbl 704k
ffc 2.1m
fatima 177k
cpl 88k  :thumbsup_anim:
mureb 642k
nestle 32k
ulever 26k

as on 2011 report
but they keep on changing / adjusting
Title: Re: AICL -- Adamjee Insurance
Post by: Poker Face on March 02, 2012, 07:10:12 PM
is ko kehte hain divesification
'don't put all aggs in one basket' ki practical example  ;)
Title: Re: AICL -- Adamjee Insurance
Post by: Poker Face on March 02, 2012, 07:23:50 PM
I wish they had some mebl too....
Title: Re: AICL -- Adamjee Insurance
Post by: Farzooq on March 02, 2012, 07:30:07 PM
is ko kehte hain divesification
'don't put all aggs in one basket' ki practical example  ;)

Banks heavy portfolio
Title: Re: AICL -- Adamjee Insurance
Post by: kamal on March 02, 2012, 11:31:50 PM
Market value of investments would increase but no impact on earnings. Dividends will be booked in 4q 2011 and 2q 2012.

Aicl is expected to post eps of 5 for 2011 dps 2 and bonus 10%

What about reversal of impairment losses on investment with changed market values ..bro .. ::)
Title: Re: AICL -- Adamjee Insurance
Post by: invincible on March 05, 2012, 09:59:38 AM
Guys pay heed.

Its a breakout, man.  :goodc:
Title: Re: AICL -- Adamjee Insurance
Post by: invincible on March 05, 2012, 12:01:51 PM
Come on-- Aicl-- accept my order.  >:(
Title: Re: AICL -- Adamjee Insurance
Post by: invincible on March 05, 2012, 12:30:30 PM
Position has been taken.  :fingerscrossed1:. (friends, meray Haq mein Duaa kijeyga)  ::)
Title: Re: AICL -- Adamjee Insurance
Post by: ihashishin on March 05, 2012, 03:02:44 PM
nml 1.25m
hubc 115.5k
dgkc 1.4m
mcb 25.6m
lalpir 27.6m
pakgen 29.7m
ahcl 960k
abl 1.4m
akbl 1.6m
bahl 7.7m
bafl 837k
hbl 280k
hamb 3.7m
nbp 1.7m
snbl 284k
ubl 3.8m
efug 15k
pakri 286k
hirat 400k  :thumbsup_anim:
kapco 85k
pso 110k
shell 174k
sngp 1.9m
ogdc 790k
pol 427k
ppl 1.5m
inil 1.4m
agtl 300k
mtl 400k
siem 171k
engro 135k
ffbl 704k
ffc 2.1m
fatima 177k
cpl 88k  :thumbsup_anim:
mureb 642k
nestle 32k
ulever 26k

as on 2011 report
but they keep on changing / adjusting
tried to calculate the worth of their portfolio, excluding dividends, from you list what i get is:
(taking lalpir at carrying value since its not listed)

SEP2011=65.1 DEC 2011=54.64 CURRENT VALUE=65.59
Title: Re: AICL -- Adamjee Insurance
Post by: invincible on March 06, 2012, 11:33:38 AM
nml 1.25m
hubc 115.5k
dgkc 1.4m
mcb 25.6m
lalpir 27.6m
pakgen 29.7m
ahcl 960k
abl 1.4m
akbl 1.6m
bahl 7.7m
bafl 837k
hbl 280k
hamb 3.7m
nbp 1.7m
snbl 284k
ubl 3.8m
efug 15k
pakri 286k
hirat 400k  :thumbsup_anim:
kapco 85k
pso 110k
shell 174k
sngp 1.9m
ogdc 790k
pol 427k
ppl 1.5m
inil 1.4m
agtl 300k
mtl 400k
siem 171k
engro 135k
ffbl 704k
ffc 2.1m
fatima 177k
cpl 88k  :thumbsup_anim:
mureb 642k
nestle 32k
ulever 26k

as on 2011 report
but they keep on changing / adjusting
tried to calculate the worth of their portfolio, excluding dividends, from you list what i get is:
(taking lalpir at carrying value since its not listed)

SEP2011=65.1 DEC 2011=54.64 CURRENT VALUE=65.59

Hopefully.  :fingerscrossed1:
Title: Re: AICL -- Adamjee Insurance
Post by: Farzooq on March 06, 2012, 12:13:12 PM
Upper locked  :banana:
Title: Re: AICL -- Adamjee Insurance
Post by: invincible on March 06, 2012, 12:14:39 PM
Yeh Cheaz  :biggthumpup:

Bundle of Thanks to Dear Farzooq n MM for their expert input.  :s1:
Title: Re: AICL -- Adamjee Insurance
Post by: M&M on March 06, 2012, 01:04:27 PM
 :biggthumpup:
Title: Re: AICL -- Adamjee Insurance
Post by: invincible on March 06, 2012, 08:38:33 PM
:biggthumpup:

Still positive stance na?  ::)

60 to 62 rate seems attainable in a few days.  :goodc:
Title: Re: AICL -- Adamjee Insurance
Post by: M&M on March 06, 2012, 09:16:39 PM
:biggthumpup:

Still positive stance na?  ::)

60 to 62 rate seems attainable in a few days.  :goodc:
i think it will continue uptrending in higher high and higher low pattern till results
Title: Re: AICL -- Adamjee Insurance
Post by: invincible on March 06, 2012, 09:35:51 PM
:biggthumpup:

Still positive stance na?  ::)

60 to 62 rate seems attainable in a few days.  :goodc:
i think it will continue uptrending in higher high and higher low pattern till results

Thanks, Any short term target in mind?  :goodc:
Title: Re: AICL -- Adamjee Insurance
Post by: M&M on March 06, 2012, 09:53:22 PM
:biggthumpup:

Still positive stance na?  ::)

60 to 62 rate seems attainable in a few days.  :goodc:
i think it will continue uptrending in higher high and higher low pattern till results

Thanks, Any short term target in mind?  :goodc:
http://www.pakinvestorsguide.com/index.php/topic,133.msg73758.html#msg73758
Title: Re: AICL -- Adamjee Insurance
Post by: invincible on March 07, 2012, 10:54:40 AM
:biggthumpup:

Still positive stance na?  ::)

60 to 62 rate seems attainable in a few days.  :goodc:
i think it will continue uptrending in higher high and higher low pattern till results

Thanks, Any short term target in mind?  :goodc:
http://www.pakinvestorsguide.com/index.php/topic,133.msg73758.html#msg73758

 :goodc:  :thanks:
Title: Re: AICL -- Adamjee Insurance
Post by: masamad on March 07, 2012, 01:09:27 PM
one month target 69 it seems
Title: Re: AICL -- Adamjee Insurance
Post by: invincible on March 07, 2012, 01:43:26 PM
Kuch Ghairat k capsule yeh b kha ley.  ::)
Title: Re: AICL -- Adamjee Insurance
Post by: invincible on March 07, 2012, 03:40:29 PM
 :skeptic:
Title: Re: AICL -- Adamjee Insurance
Post by: invincible on March 08, 2012, 11:35:33 AM
Looks strong today.  :goodc:
Title: Re: AICL -- Adamjee Insurance
Post by: invincible on March 09, 2012, 04:01:56 PM
Come on-- Just one upper cap plz.  :biggrin:  :bigeyed:
Title: Re: AICL -- Adamjee Insurance
Post by: M&M on March 13, 2012, 01:26:55 PM
looks like a retest of neckline support around 55
Title: Re: AICL -- Adamjee Insurance
Post by: M&M on March 19, 2012, 10:01:13 AM
(http://i.imgur.com/rON9R.png)
Hit below 51.61 to negate HH HL pattern ..
bm likely to be announced today
Title: Re: AICL -- Adamjee Insurance
Post by: kamal on March 19, 2012, 10:04:42 AM
(http://i.imgur.com/rON9R.png)
Hit below 51.61 to negate HH HL pattern ..
bm likely to be announced today

Very Disppointing really ... 74 ka para hua hai ...I regret my that decision ...most ... >:(
Title: Re: AICL -- Adamjee Insurance
Post by: invincible on March 19, 2012, 11:44:17 AM
I took exit prudently at 58.  :goodc:
Title: Re: AICL -- Adamjee Insurance
Post by: M&M on March 19, 2012, 03:16:30 PM
HH HL pattern negated
Title: Re: AICL -- Adamjee Insurance
Post by: Poker Face on March 19, 2012, 05:54:31 PM
lagta hai yeh to mandi ka wait kar raha tha
ooper jate huay bohat mushkilat ka saamna ho raha tha aur neeche ki flight to bohat smooth pakri hai janab ne  :biggrin:
Title: Re: AICL -- Adamjee Insurance
Post by: hirani on March 19, 2012, 09:48:14 PM
Do you think below 50 cud b a gud buy?
Title: Re: AICL -- Adamjee Insurance
Post by: M&M on March 19, 2012, 10:00:58 PM
I'm hoping for a lower high around 56 where I would seek exit
Title: Re: AICL -- Adamjee Insurance
Post by: ally on March 20, 2012, 12:37:25 AM
@ M&M, trend reversal ki abi further confirmation ki zarorat hy ya phir ho chuki hy
Title: Re: AICL -- Adamjee Insurance
Post by: M&M on March 20, 2012, 10:15:44 AM
@ M&M, trend reversal ki abi further confirmation ki zarorat hy ya phir ho chuki hy
there are 3 trendlines, we crossed first in Jan and achieved good gains .. now the second trendline is below 65 area while i was positive we'd break that but now that HH HL pattern is negated I think there are less chances we make high above 59.4 so I suggest sell on strength and wait for other positive signals to re-enter.
Title: Re: AICL -- Adamjee Insurance
Post by: M&M on March 20, 2012, 01:47:42 PM
bm 22nd March
Title: Re: AICL -- Adamjee Insurance
Post by: Farzooq on March 23, 2012, 04:59:28 PM
AICL to post PAT of Rs595mn (EPS Rs4.81), total cash payout at Rs3/share

Adamjee Insurance Company Limited (AICL) is expected to post a net profit after tax of Rs595mn (EPS Rs4.81) for CY11, against last year's profit after tax of Rs517mn (EPS Rs4.18), showing a decent growth of 15% in the bottomline on YoY basis. The company's bottomline comprises two segments; 1) core income i.e. insurance underwriting business of the company and 2) investment income of the company. During 9MCY11, AICL underwrote total premiums of Rs8.9bn, showing a nominal growth of 5% YoY. However, this time around, the claims expense remained in downward trend during 9MCY11. We expect the claim expenses to remain in the declining mode in 4QCY11 mainly owing to relatively better law & order situation in the country. On the other hand, the investment income, which showed a massive growth of 178% YoY during 9MFY11, is expected to remain in the same trajectory as the capital market remained stable during the last quarter of CY11 (Oct-Dec11). We expect a final cash payout of Rs2/sh with the results, taking company’s CY11 payout to Rs3/share.

Outlook and recommendation

The CY11 profits are expected to be primarily driven by investment income while core income of the company will also be supported with 71% growth that is expected in the underwriting results of the company for CY11. Our Dec-12 target price for the company scrip stands at Rs58/share - based on weighted average of the RIVM, DDM and CAPM methodologies, while assuming 13% risk free rate and 7.5% risk premium, the stock currently trades at a CY12F PBV of 0.48x. On the back of expecting recoveries in country's macros along with further stability in the law & order ahead, the company's leading position in the insurance market, by augmenting its footstep in the retail segment and expanding in to the UAE markets, we expect AICL to post a solid bottomline CAGR of 58% for 2011-14 periods. However, we recommend 'Hold' on the scrip as it provides only 11.3% upside to our Jun-12 target price from current levels

investcap
Title: Re: AICL -- Adamjee Insurance
Post by: M&M on March 23, 2012, 09:14:29 PM
bonus milega to baat banegi
Title: Re: AICL -- Adamjee Insurance
Post by: kamal on March 25, 2012, 05:59:16 PM
bonus milega to baat banegi

warna bottom 40's ki shakal dekhni paray gee .. issay acha tau PAKRI hai ...74 ki buy paree hai ..1.5-2 saal sai ..one of regrettable decision of mine.. ::)
Title: Re: AICL -- Adamjee Insurance
Post by: Farzooq on March 26, 2012, 09:54:03 AM
Eps 1.07 no payout
Title: Re: AICL -- Adamjee Insurance
Post by: M&M on March 26, 2012, 09:58:01 AM
Eps 1.07 no payout
:thumbsdown_anim:
Title: Re: AICL -- Adamjee Insurance
Post by: Poker Face on March 26, 2012, 10:01:46 AM
what is the problem? :skeptic:
Title: Re: AICL -- Adamjee Insurance
Post by: Farzooq on March 26, 2012, 10:24:07 AM
what is the problem? :skeptic:

they might have done some kind of provising as admin exp is up almost a billion from last year
Title: Re: AICL -- Adamjee Insurance
Post by: M&M on March 27, 2012, 09:35:50 AM
what is the problem? :skeptic:

they might have done some kind of provising as admin exp is up almost a billion from last year

i remember last time jsg reported that rise in gen/admin expenses was a one-time event due to golden handshake scheme but looks like it had continued and affected last quarter as well .. the positive thing is that the core business is doing well.
now it has to be seen if exp is normalised in 1st quarter.
Title: Re: AICL -- Adamjee Insurance
Post by: Farzooq on March 27, 2012, 10:46:17 PM
(http://i229.photobucket.com/albums/ee214/farzooq/aicl-8.png)

weekly chart
Title: Re: AICL -- Adamjee Insurance
Post by: M&M on March 28, 2012, 10:13:29 AM
limit up
Title: Re: AICL -- Adamjee Insurance
Post by: M&M on March 29, 2012, 09:38:03 AM
I'm hoping for a lower high around 56 where I would seek exit
sold it
Title: Re: AICL -- Adamjee Insurance
Post by: M&M on March 29, 2012, 09:48:56 AM
again limit up
Title: Re: AICL -- Adamjee Insurance
Post by: Poker Face on March 29, 2012, 11:19:58 AM
this is the irony
bad result = up
good result = down
Title: Re: AICL -- Adamjee Insurance
Post by: stockz_123 on March 29, 2012, 11:24:39 AM
this is the irony
bad result = up
good result = down

no its not, look in to beyond it, future expectations are superb.
Title: Re: AICL -- Adamjee Insurance
Post by: M&M on April 10, 2012, 02:59:12 PM
ye kis khushi mey cap hogaya hey
Title: Re: AICL -- Adamjee Insurance
Post by: invincible on April 10, 2012, 03:02:41 PM
ye kis khushi mey cap hogaya hey

Sometimes isse yaad aata hai k index 14ooo pe hai n iss ka rate 11000 wala hai.  :biggrin:
Title: Re: AICL -- Adamjee Insurance
Post by: M&M on April 10, 2012, 03:11:53 PM
ye kis khushi mey cap hogaya hey

Sometimes isse yaad aata hai k index 14ooo pe hai n iss ka rate 11000 wala hai.  :biggrin:

 :biggrin:
Title: Re: AICL -- Adamjee Insurance
Post by: aalam on April 10, 2012, 03:13:47 PM
aap ki nazar lag gai bachay ko :laugh:
Title: Re: AICL -- Adamjee Insurance
Post by: stockz_123 on April 11, 2012, 11:11:21 AM
this is the irony
bad result = up
good result = down

no its not, look in to beyond it, future expectations are superb.

 :biggthumpup:
Title: Re: AICL -- Adamjee Insurance
Post by: stockz_123 on April 12, 2012, 10:00:51 AM
 :shoaby: :banana: :shoaby: outstanding
Title: Re: AICL -- Adamjee Insurance
Post by: M&M on April 12, 2012, 11:41:57 AM
Non-life insurance profits down by 16% in CY11                         Written as on April 11, 2012
Highlights
            •         Non-Life insurance profits down by 16%YoY despite rise in core income
            •         Investment Income surge by 22%YoY in CY11
            •         Adamjee Insurance (AICL) - Results update CY11
 
In today's Value Seeker, we present an update on non-life insurance sector's profitability as well as result update on Adamjee Insurance Co. Ltd (AICL), which is under our coverage.
Non-Life insurance profits down by 16%YoY despite rise in core income
The non-life insurance sector containing 21 insurance companies has shown accumulated decline of 16% YoY in profits during CY11. The decline in bottom-line was mainly due to significant increase in admin expense which increased by massive 48% YoY during CY11. However, a significant growth was witnessed in the core as well as investment income which soared by 64%YoY and 22% YoY respectively during the year. On a sample of 21 out of  22 listed non-life insurance companies (we exclude PAKRI also due to its nature of reinsurance business) on the KSE, representing ~100% of the sector's market capitalization, Pakistan Gen. Insurance Ltd recorded a massive  909%YoY  jump in profits while two companies booked net losses during CY11.
In CY11, the total net premium (gross premium minus reinsurance arrangements) of the non-life insurance companies stood at Rs22bn, showing an appreciation 7.5% YoY, also the claims ratio improved to reach at 58% as compared to 63% recorded in last year. The core profit (underwriting results) has also improved by 64% YoY, whereas combined ratio (profitability ratio) reached to 12.5% as compared to 8.2% witnessed in the last year.
Segment wise analysis reveals that the net premium of major segments like 'Fire & property damage' (FIRE) and 'Marine aviation and transport' (MARINE) has improved during the year and registered a growth of15%YoY and 16%YoY respectively, while the 'Miscellaneous' (MISC) segment net premium improved by 25% YoY. On the other hand, the net premium of motor segment has shown a decline of 1.3% during the year.  In line with our expectation, the claims ratio of these segments also improved during the year, a  21%YoY improvement witnessed in the 'FIRE' segment, which reached at 47% . Motor segment's claim ratio improved by 4%YoY while 'MARINE' and Miscellaneous claims ratio declined by 1.1%YoY and 8.4%YoY to reach at 49% and 72% respectively during the year.
Investment Income surge by 22%YoY in CY11
The investment income (dividend income plus capital gains) which is a major component of profits of non-life insurance sector surged by 22% YoY while 12%QoQ on quarter basis. This growth however, could not tickle down to the bottom line of the sector owing to 48% YoY increase in admin expense which translates bottom-line decline during the year. The main reason for such an abrupt increase in admin expense was the organizational restructuring by majority of insurance companies which we believe is one-off expense of the sector.
We believe that the 1QCY12 would be better for insurance sector’s profitability due to major investment income from the equity market transactions amid upward movement in stock markets coupled with expectation of better law and order situation of the country.
Adamjee Insurance (AICL) - Results update CY11
Adamjee insurance Company Ltd (AICL) recently announced its full year CY11 result in which posted the lowest  earning in a decade. The company posted Net profit after tax of Rs132mn, down by 74%YoY. Despite 88%YoY growth in core profits and 9%YoY rise in investment income, the company earned loss before taxation of Rs42mn owing to 147%YoY sharp rise in admin expenses. However, due to tax benefits, the company managed to post profit after tax of Rs132mn (EPS: 1.07). On QoQ basis, AICL posted loss of Rs237mn (LPS  Rs1.91) as against profit of Rs51mn (EPS Rs0.41).
After booking lower earnings during CY11, we expect the company to reap the benefits of upward movement of the stock market during 1QCY12 coupled with expectations of  stable law and order situation in the country . Since the CY11 accounts details are not yet available, we will update the valuation details soon.
 
Mazhar A. Sabir
mazhar@investcapital.com
+111 111 097 (8635)
Title: Re: AICL -- Adamjee Insurance
Post by: M&M on April 14, 2012, 12:14:50 PM
(http://i.imgur.com/PdsSq.png)
Breaking iH&S pattern and trendline hinting at a good CY12 for AICL

(http://static.incrediblecharts.com/images/png_images/inverted%20head%20and%20shoulders.png)
Title: Re: AICL -- Adamjee Insurance
Post by: stockz_123 on April 17, 2012, 11:31:04 AM
 :shoaby: :banana: :shoaby:

Title: Re: AICL -- Adamjee Insurance
Post by: M&M on April 19, 2012, 12:51:20 PM
one-time provision made against doubtful recievables (932mn) was the cause of whopping rise in gen. admin. exp.
Title: Re: AICL -- Adamjee Insurance
Post by: stockz_123 on April 19, 2012, 12:58:00 PM
aicl is super duperrrrrrr :banana:
Title: Re: AICL -- Adamjee Insurance
Post by: stockz_123 on April 20, 2012, 09:34:34 AM
 :shoaby: :shoaby: :shoaby:
Title: Re: AICL -- Adamjee Insurance
Post by: M&M on April 24, 2012, 03:08:11 PM
bm 28
Title: Re: AICL -- Adamjee Insurance
Post by: M Obaid Khan on April 24, 2012, 06:27:37 PM
stockz_123 Bhai ajj AICL Ko Kiya Hogaya................................??
Title: Re: AICL -- Adamjee Insurance
Post by: Honda Re-born on April 24, 2012, 06:28:51 PM
stockz_123 Bhai ajj AICL Ko Kiya Hogaya................................??

50 - 80 tak aya ab kya iss ka haq nahe ha correction lainay ka??? :rtfm:
Title: Re: AICL -- Adamjee Insurance
Post by: stockz_123 on April 24, 2012, 08:20:30 PM
stockz_123 Bhai ajj AICL Ko Kiya Hogaya................................??

yar itny upper caps lagaye hen to kuch lower b banty hen...
Title: Re: AICL -- Adamjee Insurance
Post by: Trademaster on April 27, 2012, 12:03:50 PM

(http://i.imgur.com/PdsSq.png)
Breaking iH&S pattern and trendline hinting at a good CY12 for AICL

(http://static.incrediblecharts.com/images/png_images/inverted%20head%20and%20shoulders.png)




Buy AICL here with stoploss on close below 63. I think i has completed the deep correction and retest thier broken resistance of 63.

Bounce back is expected
Title: Re: AICL -- Adamjee Insurance
Post by: Trademaster on April 27, 2012, 04:30:15 PM

(http://i.imgur.com/PdsSq.png)
Breaking iH&S pattern and trendline hinting at a good CY12 for AICL

(http://static.incrediblecharts.com/images/png_images/inverted%20head%20and%20shoulders.png)




Buy AICL here with stoploss on close below 63. I think i has completed the deep correction and retest thier broken resistance of 63.

Bounce back is expected

 :shoaby: It did exactly what i was expecting . I Bought near lower lock and enjoying the ride. Sold Half at 68 to avoid bad result shock.
Title: Re: AICL -- Adamjee Insurance
Post by: M&M on April 27, 2012, 04:38:12 PM

(http://i.imgur.com/PdsSq.png)
Breaking iH&S pattern and trendline hinting at a good CY12 for AICL

(http://static.incrediblecharts.com/images/png_images/inverted%20head%20and%20shoulders.png)




Buy AICL here with stoploss on close below 63. I think i has completed the deep correction and retest thier broken resistance of 63.

Bounce back is expected

 :shoaby: It did exactly what i was expecting . I Bought near lower lock and enjoying the ride. Sold Half at 68 to avoid bad result shock.

 :goodc:
Title: Re: AICL -- Adamjee Insurance
Post by: Trademaster on April 27, 2012, 04:53:15 PM
Dear MM

thanks you . I took the hint from your posted chart. at the time of break out i missed the rally but kept my eyes on the time of retest the level.
Title: Re: AICL -- Adamjee Insurance
Post by: Trademaster on April 30, 2012, 09:58:35 AM
Anyone knows its result?
Title: Re: AICL -- Adamjee Insurance
Post by: M&M on April 30, 2012, 10:55:38 AM
1stq eps: 2.37
Title: Re: AICL -- Adamjee Insurance
Post by: M&M on April 30, 2012, 11:04:14 AM
sequential decline in revenue
gen and admin expense normalized as expected
Title: Re: AICL -- Adamjee Insurance
Post by: Trademaster on April 30, 2012, 11:24:47 AM
i am unable to see result. please post here
Title: Re: AICL -- Adamjee Insurance
Post by: 007 on April 30, 2012, 12:35:18 PM
heading for lower
Title: Re: AICL -- Adamjee Insurance
Post by: M&M on April 30, 2012, 12:37:24 PM
(http://www.kse.com.pk/newsimage/033606-1.gif?)
(http://www.kse.com.pk/newsimage/033606-3.gif?)
(http://www.kse.com.pk/newsimage/033606-4.gif?)
(http://www.kse.com.pk/newsimage/033606-5.gif?)
Title: Re: AICL -- Adamjee Insurance
Post by: Trademaster on May 02, 2012, 09:48:48 AM
Dear MM

As you follow this stock .Please suggest what to do now as its result is not satisfactory and it is tading on its support line?
Title: Re: AICL -- Adamjee Insurance
Post by: M&M on May 02, 2012, 10:35:09 AM
Dear MM

As you follow this stock .Please suggest what to do now as its result is not satisfactory and it is tading on its support line?
let it settle and find support
Title: Re: AICL -- Adamjee Insurance
Post by: Trademaster on May 02, 2012, 02:18:22 PM
Look it found support around 62 ~ 63 and rebound
Title: Re: AICL -- Adamjee Insurance
Post by: M&M on May 02, 2012, 02:46:58 PM
Look it found support around 62 ~ 63 and rebound

yes
Title: Re: AICL -- Adamjee Insurance
Post by: Trademaster on May 03, 2012, 11:50:26 AM
Jitne sode hoi hain din bher mein us se ziada buyer lock pe khare hain  :shoaby:
Title: Re: AICL -- Adamjee Insurance
Post by: Trademaster on May 04, 2012, 09:48:18 AM
Jitne sode hoi hain din bher mein us se ziada buyer lock pe khare hain  :shoaby:

Same story today. Look like it will touch 85~90 in this rally as per chart.

Dear MM please post updated chart and give your valuable comments.

Title: Re: AICL -- Adamjee Insurance
Post by: M&M on May 04, 2012, 11:27:13 AM
Jitne sode hoi hain din bher mein us se ziada buyer lock pe khare hain  :shoaby:

Same story today. Look like it will touch 85~90 in this rally as per chart.

Dear MM please post updated chart and give your valuable comments.

wait for weekend
Title: Re: AICL -- Adamjee Insurance
Post by: Trademaster on May 10, 2012, 05:52:48 PM
g
Title: Re: AICL -- Adamjee Insurance
Post by: Trademaster on May 10, 2012, 06:32:24 PM
(http://i.imgur.com/PdsSq.png)
Breaking iH&S pattern and trendline hinting at a good CY12 for AICL

(http://static.incrediblecharts.com/images/png_images/inverted%20head%20and%20shoulders.png)

Technically looks very strong to toucch resistance level of 88~90. Itni bear market mein bhi lock kar gaya its mean ke aur potential hai oper jane ka.

Dear MM please comments
Title: Re: AICL -- Adamjee Insurance
Post by: stockz_123 on May 10, 2012, 07:19:24 PM
(http://i.imgur.com/PdsSq.png)
Breaking iH&S pattern and trendline hinting at a good CY12 for AICL

(http://static.incrediblecharts.com/images/png_images/inverted%20head%20and%20shoulders.png)

Technically looks very strong to toucch resistance level of 88~90. Itni bear market mein bhi lock kar gaya its mean ke aur potential hai oper jane ka.

Dear MM please comments

aicl back with the bangggggggggggg!
Title: Re: AICL -- Adamjee Insurance
Post by: M&M on May 10, 2012, 08:41:40 PM
AICL closed at upper lock with 5.7mn shares
traded after the announcement of EOGM to sought approval of
shareholders to invest Rs.3.51bn to purchase shares of MCB in next 3
years.
Title: Re: AICL -- Adamjee Insurance
Post by: Farzooq on May 17, 2012, 04:53:22 PM
AICL: Consolidating rather than Growing

   We re-initiate our coverage on Adamjee Insurance (AICL) with a Dec12 Target Price of PKR78/sh, deriving 46% (PKR36) of its value from core operations and 54% (PKR42) value from its investment portfolio

   AICL’s gross premiums declined by 4% YoY to PKR11.06bn in CY11, in stark contrast to a decent ~9% growth witnessed by the industry. Consequently AICL lost its market share by 400bps to 28%

   Despite being the largest player, AICL has struggled to keep pace with the industry in Fire & Property segment as it has depicted a CY06-CY11 CAGR of 10% compared to industry’s 15%

   AICL has also legged behind in marine segment, reporting average 3% decline in top-line for five years as opposed to a stable industry growth rate of 6%

   Motor segment, on the other hand, portrays an entirely different picture. While the industry has declined by a CAGR of 2% in last five years, AICL has successfully managed to post a 5 year CAGR of 5%

   85% of AICL’s investment portfolio constitutes equities, with associate company ‘MCB’ forming a substantial 44% of entire investment portfolio

   AICL currently trades at 13% discount to our revised Dec12 Target Price of PKR78/share, justifying ADD stance
 
bma
Title: Re: AICL -- Adamjee Insurance
Post by: M&M on May 19, 2012, 11:06:29 AM
(http://i.imgur.com/PdsSq.png)
Breaking iH&S pattern and trendline hinting at a good CY12 for AICL

(http://static.incrediblecharts.com/images/png_images/inverted%20head%20and%20shoulders.png)

Technically looks very strong to toucch resistance level of 88~90. Itni bear market mein bhi lock kar gaya its mean ke aur potential hai oper jane ka.

Dear MM please comments
(http://i.imgur.com/dRdPw.png)
Multiple resistance ahead. While the rally could stretch towards 85~90, it has started to create a negative divergence on daily RSI
It's better to reduce on strength as I analyse.
Title: Re: AICL -- Adamjee Insurance
Post by: Farzooq on May 25, 2012, 11:28:03 AM
Adamjee Insurance (AICL) has been in the limelight
during the recent past appreciating by 9.13% since
its 1Q2012 result announcement on April 30, 2012.
We view its impressive return to profitability in
1Q2012 compared to 4Q2011 to be the main driver
behind the stock’s performance. Improved state of
the stock market during 1Q was the main reason for
the growth in the bottom line. Although, the company’s core
business shrank by 77%YoY, strong investment income of
Rs292mn kept the earnings high by 1%YoY during the period
under review. With positive sentiments likely to continue at
the stock market owing to regulatory changes on account of
the Capital Gains Tax (CGT) ordinance, we revise our
earnings estimates up by 57-50% for 2012E-13F.
Consequently, our target price has been revised up by 14% to
Rs72 and we maintain our ‘hold’ call on the stock.
Underwriting profits down 32%YoY in 1Q2012
Company’s net premiums in 1Q2012 witnessed a decline of
24%YoY to Rs1.5bn while net claims also came down by
23%YoY to Rs1.0bn. Nevertheless, the claims ratio slightly
increased by 84bps to 66.96% in 1Q2012. Segment wise
break up shows that Fire & Property claims ratio stayed flat at
74.86%, while for the Marine segment it grew by a notable
11ppts to 50.1%. On the other hand, the Motor and the
Miscellaneous segments witnessed a decline by 3ppts each
in the claims ratio to 65.54% and 71.06%, respectively.
Main difference came in the combined ratio (claim + expense
ratio) which grew by a significant 8ppts to 91.12% in 1Q2012.
Consequently, the company’s underwriting profits shrank by
77%YoY to Rs89mn. Importantly, the company’s Middle East
operations, which had given healthy support in the past to the
consolidated core operations also came under pressure this
year. Its underwriting profits slid down to only Rs9.7mn
compared to Rs57.5mn in 1Q2011.

Healthy dividend income supports the bottom line
While the core operations were under pressure, improved
performance of the stock market helped the company post a
1%YoY growth in over all profitability in 1Q2012. Higher
dividend income of Rs237mn and reversal of impairment in
value for AFS securities of Rs30.8mn helped the total
investment income to grow by 47%YoY. Last year, AICL
booked an impairment charge on AFS investment worth
Rs94mn which stemmed the bottom line in 1Q2011. The
increase in dividend income came from improved profitability
across the board at the KSE. As per the 1Q2012 accounts the
company’s investment portfolio stands at Rs9.5bn with
Rs2.3bn in cash and bank deposits.

Financial highlights
(Rs mn) 1Q2012 1Q2011 ?%
Net premium 1 ,510 1,985 -24%
Net claims 1,011 1,312 -23%
Expenses 3 65 341 7%
Net commission 8 9 131 -32%
Underwriting result 4 5 200 -77%
Investment income 2 92 198 47%
Gen. & adm. expense 4 6 6 6 -30%
Profit Before Taxation 3 20 365 -12%
Tax 2 7 7 6 -64%
Profit After Taxation 2 93 289 1%
Earning per share 2 .37 2.33 1%
Source: Company accounts
Recommendation: ‘Buy’ maintained
Given the positive outlook on the stock market this year on
account of the CGT ordinance post the budget and in light of
1Q results, we have tweaked our assumptions for AICL. We
now project the company’s earnings in 2012 to rebound after
a dismal 2011.

EPS revision
(Rs) New Old ?%
2012E 5.52 3.52 57%
2013F 7.67 5.11 50%
Target Price 72 63 14%
Source: JS Research

Our 2012E-13F earnings forecasts have been revised up by
57-50% to Rs5.52 and Rs7.67 per share, respectively. Our
target price has been revised up by 14% to Rs72 and we
maintain our ‘Hold’ call on the stock.

jsgcl
Title: Re: AICL -- Adamjee Insurance
Post by: aliraza on June 21, 2012, 03:10:41 PM
(http://i.imgur.com/PdsSq.png)
Breaking iH&S pattern and trendline hinting at a good CY12 for AICL

(http://static.incrediblecharts.com/images/png_images/inverted%20head%20and%20shoulders.png)

Technically looks very strong to toucch resistance level of 88~90. Itni bear market mein bhi lock kar gaya its mean ke aur potential hai oper jane ka.

Dear MM please comments
(http://i.imgur.com/dRdPw.png)
Multiple resistance ahead. While the rally could stretch towards 85~90, it has started to create a negative divergence on daily RSI
It's better to reduce on strength as I analyse.

MM sir technical aicl good buy call ya mazeed wait kare
Title: Re: AICL -- Adamjee Insurance
Post by: M&M on June 21, 2012, 07:36:08 PM
(http://i.imgur.com/PdsSq.png)
Breaking iH&S pattern and trendline hinting at a good CY12 for AICL

(http://static.incrediblecharts.com/images/png_images/inverted%20head%20and%20shoulders.png)

Technically looks very strong to toucch resistance level of 88~90. Itni bear market mein bhi lock kar gaya its mean ke aur potential hai oper jane ka.

Dear MM please comments
(http://i.imgur.com/dRdPw.png)
Multiple resistance ahead. While the rally could stretch towards 85~90, it has started to create a negative divergence on daily RSI
It's better to reduce on strength as I analyse.

MM sir technical aicl good buy call ya mazeed wait kare
http://www.pakinvestorsguide.com/index.php/topic,550.msg91296/topicseen/highlight,AICL.html#msg91296
Title: Re: AICL -- Adamjee Insurance
Post by: aliraza on June 25, 2012, 03:27:23 PM
MM sir my holding is 60 AICL if AICL down more then kis level pa mazeed average karoo any suggestion
Title: Re: AICL -- Adamjee Insurance
Post by: M&M on June 25, 2012, 08:16:55 PM
MM sir my holding is 60 AICL if AICL down more then kis level pa mazeed average karoo any suggestion
hold with stop of 57
Title: Re: AICL -- Adamjee Insurance
Post by: aliraza on June 26, 2012, 06:08:06 PM
MM sir my holding is 60 AICL if AICL down more then kis level pa mazeed average karoo any suggestion
hold with stop of 57

MM SIR IF 57 level not sustain then next level support technical
Title: Re: AICL -- Adamjee Insurance
Post by: M&M on June 26, 2012, 07:53:37 PM
MM sir my holding is 60 AICL if AICL down more then kis level pa mazeed average karoo any suggestion
hold with stop of 57

MM SIR IF 57 level not sustain then next level support technical
then wait till it finds new support probably around 50
Title: Re: AICL -- Adamjee Insurance
Post by: aliraza on June 26, 2012, 09:12:54 PM
MM sir my holding is 60 AICL if AICL down more then kis level pa mazeed average karoo any suggestion
hold with stop of 57

MM SIR IF 57 level not sustain then next level support technical
then wait till it finds new support probably around 50
[/quote}

MM sir i think result AICL ka august ko haa what u accept eps and payout any bonus surprise accept samjta haa
Title: Re: AICL -- Adamjee Insurance
Post by: aliraza on June 27, 2012, 10:51:44 AM
MM sir my holding is 60 AICL if AICL down more then kis level pa mazeed average karoo any suggestion
hold with stop of 57

MM SIR IF 57 level not sustain then next level support technical
then wait till it finds new support probably around 50
[/quote}

MM sir i think result AICL ka august ko haa what u accept eps and payout any bonus surprise accept samjta haa

MM sir i think result AICL ka august ko haa what u accept eps and payout any bonus surprise accept samjta haa
Title: Re: AICL -- Adamjee Insurance
Post by: M&M on June 27, 2012, 03:04:09 PM
@aliraza
"I accept hy three eps and one dps trade only techincal good only my view sir please"
Title: Re: AICL -- Adamjee Insurance
Post by: aliraza on June 27, 2012, 04:57:55 PM
@aliraza
"I accept hy three eps and one dps trade only techincal good only my view sir please"



SIR i think eps is 3 sa above is quarter ka  accpt nahee  karte ap most brookeghouse eps 3 sa above accept karte haa today 58 sustain and buying small chuck let see
Title: Re: AICL -- Adamjee Insurance
Post by: Farzooq on July 04, 2012, 12:37:35 PM
We reiterate our ‘Buy’ call on Adamjee Insurance
(AICL). The stock has underperformed the broader
market by 13.3% in June 2012, whereas the non-life
insurance sector underperformed the market by only
3.4% during the same period. Looking ahead positive
trend in the stock market is likely to sustain healthy
investment income, providing support to otherwise
weak core business. The stock trades at a 2012E PBV of
0.67x vs. 5-year historical average of 2.0x, while offers a
potential upside of 18% to our target price of Rs72.
AICL: investment income to support bottom-line
AICL reported investment income at Rs292mn (up 47%YoY)
in 1Q2012, as KSE-100 gained 21% during the period. It
supported the dwindling core business which was down
77%YoY. Interestingly, AICL portfolio value has risen by ~6%
vs. KSE-100 gain of 0.3% during 2Q owing to out
performance of stocks like PPL, UBL and DGKC. Hence, we
anticipate strong investment income to support the bottomline
of the company; albeit it is likely to be lower on a QoQ
basis. However, lower underwriting profits amid slowdown in
net premiums will remain a key irritant.

Recommendation: ‘Buy’
Given the positive outlook on the stock market this year, we
anticipate strong investment income for AICL in 2012 to
compensate for the under pressure core business. However,
any monsoon related floods can act as a negative trigger for
the stock. With the recent decline in the AICL’s stock price,
we reiterate our ‘Buy’ call with a target price of Rs72. The
stock currently trades at 2012E PBV 0.67 vs. its 5-year
historical average of 2.0x.

Key statistics
2011A 2012E 2013F
PE (x) 5 9.5 1 1.0 7.9
EPS (Rs) 1.1 5.5 7.7
PBV (x) 0.7 0.7 0.6
ROE (%) 1.2% 6.1% 8.0%
Source: JS Research
Title: Re: AICL -- Adamjee Insurance
Post by: Farzooq on July 24, 2012, 03:35:38 AM
Insurance industry to grow rapidly with new SECP Takaful rules’

Staff Report

LAHORE: Takaful Industry is growing rapidly around the world with 230 Takaful companies and 13 re-Takaful companies with the total volume of $11 billion.

Takaful was started in 2005 in Pakistan when Securities and Exchange Commission of Pakistan (SECP) introduced Takaful rules 2005 according to which only full fledge Takaful companies had the permission to operate and in this regard, 5 Takaful companies came into being due to efforts of investors of Malaysia, Qatar, Kuwait, UAE, Saudi Arabia and Pakistan. Among these 5 companies, 3 Takaful companies are general whereas 2 companies are providing the services of Shari’ah compliant life insurance. But in accordance with the recently issued SECP Takaful rules 2012, conventional insurance companies can open window operations of Takaful due to which Takaful industry would get promotion rapidly at national level.

Muhammad Zubair Mughal, Chief Executive Officer of AlHuda Centre of Islamic Banking and Economics has declared these Takaful rules 2012 a good step for Takaful industry which would promote Takaful industry rapidly at national level and masses would have the opportunity to fulfill their insurance needs in Shari’ah compliant manner because in Pakistan, due to the elements of interest, gharar and gambling in insurance, people avoid insurance.

While analysing the insurance industry, he said there were 37 general insurance companies, 7 life insurance companies, 5 Takaful and re-Takaful companies operating in Pakistan and now, in accordance with the Takaful rules 2012, more than 40 insurance companies could start window operation of Takaful by fulfilling SECP laws and conventional insurance companies could be transformed into Takaful companies.

He said there were 3 types of business opportunities for Takaful industry, people, who do not use insurance due to interest factor, people who use insurance by compulsion but they can come to Islamic insurance when this alternate is introduced and people who do not fall under the category of insurance as in Pakistan, the penetration of insurance is less than 1 percent.

Experts have declared Takaful rules 2012 a very good sign for Pakistan which has the status of milestone in Pakistan insurance industry.
Title: Re: AICL -- Adamjee Insurance
Post by: saifullahkhan7 on August 23, 2012, 02:10:39 PM
BM Wednesday 29-08-2012

(Found the thread Farzooq Bhai  :$:)
Title: Re: AICL -- Adamjee Insurance
Post by: sAr on August 24, 2012, 01:26:26 AM
Profitability is expected to stay subdued. AICL may have booked some heavy claims this quarter. Thus EPS may marginally rise from Last Quarter Figure. Not much expected in 2Q. However, Investment gains will buttress the Bottom-line. Keep fingers crossed and avoid heavy exposure in AICL.
Title: Re: AICL -- Adamjee Insurance
Post by: Farzooq on August 29, 2012, 04:59:43 PM
Hy Eps 3.4 dps 1.5
Title: Re: AICL -- Adamjee Insurance
Post by: aliraza on August 29, 2012, 05:27:28 PM
Hy Eps 3.4 dps 1.5
farzooq bahi aicl result below ya better last year coments pls
Title: Re: AICL -- Adamjee Insurance
Post by: M&M on August 29, 2012, 07:02:49 PM
Hy Eps 3.4 dps 1.5
farzooq bahi aicl result below ya better last year coments pls
overall topline continued to decline as expected (revenue outside Pakistan was sequentially higher).
higher investment income and normal gen. and admin expenses led to higher PBT QoQ but the real kick came from the deferred tax that led to higher than expected earnings in Q2.
dividend was also 0.5 Rs higher than expected.
Title: Re: AICL -- Adamjee Insurance
Post by: sAr on August 30, 2012, 03:14:25 AM
Profitability is expected to stay subdued. AICL may have booked some heavy claims this quarter. Thus EPS may marginally rise from Last Quarter Figure. Not much expected in 2Q. However, Investment gains will buttress the Bottom-line. Keep fingers crossed and avoid heavy exposure in AICL.

As expected AICL's profitability declined owing to uncertain and volatile industry trend. Profit before taxation declined by 5% YoY however, Deferred tax entry increased the Net profitability of the company. AICL's underwriting result(Gross margin) remained negative marking loss of PKR188mn. While substantial Investment Income supported the bottom-line. Cautious approach should be employed as trading levels will remains volatile. AICL should settle between 55-58
Title: Re: AICL -- Adamjee Insurance
Post by: ally on August 31, 2012, 03:01:03 AM
M&M bahi, ap khas dast-e-shafqat rakhty han is share par...

my average is 69, where do you see this share, half year Eps 3.4 and dps 1.5 are not very encourging....
Title: Re: AICL -- Adamjee Insurance
Post by: M&M on August 31, 2012, 10:47:50 AM
M&M bahi, ap khas dast-e-shafqat rakhty han is share par...

my average is 69, where do you see this share, half year Eps 3.4 and dps 1.5 are not very encourging....

i see rangebound activity
result was ok, not bad.
Title: Re: AICL -- Adamjee Insurance
Post by: aliraza on September 06, 2012, 06:20:08 PM
M&M bahi, ap khas dast-e-shafqat rakhty han is share par...

my average is 69, where do you see this share, half year Eps 3.4 and dps 1.5 are not very encourging....

i see rangebound activity
result was ok, not bad.

MM bahi spot date kab sa start ho rahee haa kuch is share ko be boom ajye is share ma  kuch potential lagta ha 67 per stuck hooooooo
Title: Re: AICL -- Adamjee Insurance
Post by: M&M on September 06, 2012, 06:25:32 PM
M&M bahi, ap khas dast-e-shafqat rakhty han is share par...

my average is 69, where do you see this share, half year Eps 3.4 and dps 1.5 are not very encourging....

i see rangebound activity
result was ok, not bad.

MM bahi spot date kab sa start ho rahee haa kuch is share ko be boom ajye is share ma  kuch potential lagta ha 67 per stuck hooooooo
ex october 2
62 per support hey, if you can hold till full year results then do so eventually uper hi jana hey .. bonus jo mile ga
Title: Re: AICL -- Adamjee Insurance
Post by: Farzooq on September 19, 2012, 01:24:07 PM
Adamjee Insurance (AICL) reported 32%YoY
earnings growth in its 1H2012 result, with a profit
after tax of Rs420mn (EPS: Rs3.40). As expected,
the underwriting business came under pressure due
to lower premiums written during the period under
consideration. However, investment income
continued to support the bottom line of the company,
rising by 39%YoY mainly on account of better performance of
its portfolio. In the wake of recent monsoon floods we
highlight risk of high claims to dent the core business further;
nevertheless we believe the company’s investment income
will continue to support the bottom line going forward. We
have tweaked our assumptions post 1H2012 result and
revised our 2012 earnings by +7% to Rs5.93 per share.
Consequently, our target price for the stock has been revised
up by 4% to Rs74 (also incorporating the recent discount rate
cut), offering a potential upside of 17%. We maintain our ‘Buy’
stance on the stock.

Underwriting turns negative in 2Q2012
The company’s 2Q2012 net premiums witnessed a decline of
19%YoY and 7%QoQ to Rs1.4bn which put pressure on the
underwriting result of the company.

1H2012 Financial highlights
(Rs mn) 1H2012 1H2011 YoY%? 2Q2012 QoQ%? YoY%?
Net premium 2 ,921 3 ,721 -21% 1,411 -7% -19%
Net claims 2 ,086 2 ,449 -15% 1,074 6% -5%
Expenses 8 65 8 34 4% 500 37% 2%
Net commission 1 59 2 66 -40% 70 -21% -48%
Underwriting result ( 188) 1 72 NM (233) NM NM
Investment income 6 20 4 46 39% 328 12% 33%
Other income 7 7 8 8 -12% 47 53% -11%
Gen. & adm. expense 9 9 2 65 -63% 53 15% -73%
Fin. chrg on lease rental 3 1 0 -65% 2 -17% -74%
Profit Before Tax 4 08 4 31 -5% 87 -73% 32%
Profit After Tax 4 20 3 18 32% 127 -57% NM
Earning per share 3 .40 2 .57 32% 1.03 -57% NM
Source: Company accounts

1H2012 premiums were recorded at Rs2.9bn; down 21%YoY
resulting in a underwriting loss of Rs188mn. Importantly, the
company’s Middle East operation continued its commendable
performance, posting an underwriting profit of Rs26mn
compared to a core loss of Rs214mn in business underwritten
in Pakistan. Although net claims fell by 15%YoY in 1H2012 to
Rs2.1bn, claims ratio increased by 6ppts to 71.4% in 1H2012
mainly on account of lower net premiums. Segment wise
break up shows that Fire & Property claims ratio jumped the
highest by 13ppts to 79.3% while for the Marine and
Miscellaneous segments it grew by 4ppts and 3ppts to 49.1%
and 74.9%, respectively. On the other hand, Motor segment’s
claim ratio actually fell by 2ppts to 71.0%.

Healthy dividend income supports the bottom line
While core operations posted loss, healthy dividend income
from its strong investment portfolio helped AICL post a growth
of 32%YoY in overall profitability in 1H2012. The company
posted a growth of 39%YoY in dividend income in 1H2012 to
Rs428mn. As a result, total investment income was recorded
at Rs620mn, up 39%YoY. As for the company’s investment
portfolio its value as of September 18, 2012 stood at
Rs10.9bn with Rs2.9bn in cash and bank deposits.

Outlook
Post 1H2012 results, we have tweaked our assumptions and
revised our 2012 earnings forecast by +7% to Rs5.93 per
share with underwriting business returning into the green. We
highlight higher claims in the upcoming two quarters in the
wake of recent monsoon floods in the country as risk to our
estimates

Revised estimates
(Rs) New Old ?%
2012 5.93 5.52 7%
2013 8.17 7.67 7%
Target Price 7 4 71 4%
Source: JS Research estimates

The stock is currently trading at a 2012E PE and PBV of
10.7x and 0.7x respectively. With 17% upside to our revised
target price of Rs74 we recommend a ‘Buy’ at current levels.
Title: Re: AICL -- Adamjee Insurance
Post by: asadullah1977 on October 11, 2012, 01:33:00 PM
 :fingerscrossed1:one of my friends told me that the insurance shares will post a rally as it has been away from all the upward trend...is it safe to buy on current levels? ill be banking on munsha items as all others have rallied
Title: Re: AICL -- Adamjee Insurance
Post by: M&M on October 18, 2012, 09:34:05 PM
(http://www.kse.com.pk/newsimage/037483-1.gif)
Title: Re: AICL -- Adamjee Insurance
Post by: asadullah1977 on October 19, 2012, 03:38:38 PM
 huhu

bought at 65.75 and with all the rally its still at 63.70. any advise pundits as im stuck
Title: Re: AICL -- Adamjee Insurance
Post by: mahmad786 on October 19, 2012, 03:46:43 PM
Yes aysaa hee share hey . But hold
Title: Re: AICL -- Adamjee Insurance
Post by: asadullah1977 on October 19, 2012, 04:05:25 PM
thanks bro
Title: Re: AICL -- Adamjee Insurance
Post by: asadullah1977 on October 22, 2012, 01:46:30 AM
any recommendation for this week as i have this share in future
Title: Re: AICL -- Adamjee Insurance
Post by: asim.786 on October 22, 2012, 01:53:39 AM
any recommendation for this week as i have this share in future

Aicl telenor and tamer micro finance easy paisa lounch a life insurence product in last week which is good for aicl foture eps
Title: Re: AICL -- Adamjee Insurance
Post by: asim.786 on October 22, 2012, 02:28:13 AM
any recommendation for this week as i have this share in future

Aicl telenor and tamer micro finance easy paisa lounch a life insurence product in last week which is good for aicl foture eps

MCB, Adamjee Life launch i-Insure Plus
KARACHI: Adamjee Life and MCB Bank held a joint ceremony to celebrate the launch of i-Insure Plus (monthly income benefit) plan in association with MCB Consumer Lending division.

i-Insure Plus is specially designed for MCB Credit Card customers looking for affordable monthly income options for...
Title: Re: AICL -- Adamjee Insurance
Post by: asadullah1977 on October 22, 2012, 09:45:09 PM
guys it did well today any suggestions
Title: Re: AICL -- Adamjee Insurance
Post by: mahmad786 on October 25, 2012, 12:55:31 PM
AICL showing some attitude in manda :)
Look at IGIIL people got more 50% gains and this is stuck at 63.
Looking at charts it seems like a rally is overdue now
Title: Re: AICL -- Adamjee Insurance
Post by: M&M on October 25, 2012, 07:10:12 PM
http://www.kse.com.pk/notices-updates/detail2.php?id=4&nid=038125
eps 6.81
Title: Re: AICL -- Adamjee Insurance
Post by: saifullahkhan7 on October 26, 2012, 08:18:52 PM
Seniors kindly can you guide me, I was working out Insurance Industry, but the P/E is a bit bizarre... what is the acceptable P/E range for Insurance companies in your view?
Title: Re: AICL -- Adamjee Insurance
Post by: M&M on October 26, 2012, 11:36:29 PM
Seniors kindly can you guide me, I was working out Insurance Industry, but the P/E is a bit bizarre... what is the acceptable P/E range for Insurance companies in your view?
better to look for companies in this sector that are likely going to give bonus+dividends with fy result
look for payments history and solid 9M result and stocks that are yet to rise ..
this stock is one of them, I'm expecting good returns eventually.
Title: Re: AICL -- Adamjee Insurance
Post by: Farzooq on November 02, 2012, 04:21:15 PM
At 30 September 2012, the fair value of available-for-sale securities was Rupees 12,305.972 million (31 December 2011: Rupees 9,556.734 million).

company’s investment portfolio worth 100rs per share

http://www.adamjeeinsurance.com/downloads/pdf/annual_reports/2012/04_third_quarter/02_unconsolidated_september.pdf
Title: Re: AICL -- Adamjee Insurance
Post by: ally on November 02, 2012, 04:37:01 PM
Farzooq Bahi, almost all of the nine months profit is from investments....normal opretions havnt contrbuted much on YTD basis....

Although Q3'12 has some improvment....waht do you think in coming perionds operations will also contribute positvly?
Title: Re: AICL -- Adamjee Insurance
Post by: Farzooq on November 02, 2012, 04:57:28 PM
Farzooq Bahi, almost all of the nine months profit is from investments....normal opretions havnt contrbuted much on YTD basis....

Although Q3'12 has some improvment....waht do you think in coming perionds operations will also contribute positvly?

Underwriting results in the 3rd quarter have shown improvement, I am hoping it will continue to contribute positively in the future.
Title: Re: AICL -- Adamjee Insurance
Post by: Abdul Qadir on November 02, 2012, 05:37:46 PM
AICL attractive around 64 ...
Target above 70 Insha ALLAH.
Title: Re: AICL -- Adamjee Insurance
Post by: M&M on November 02, 2012, 07:14:08 PM
(http://www.kse.com.pk/newsimage/037483-1.gif)
http://www.kse.com.pk/notices-updates/detail2.php?id=4&nid=038483
competitor
Title: Re: AICL -- Adamjee Insurance
Post by: SBM on November 02, 2012, 09:26:29 PM
(http://www.kse.com.pk/newsimage/037483-1.gif)
http://www.kse.com.pk/notices-updates/detail2.php?id=4&nid=038483
competitor
TPL insurance and igi insurance are also interested..
Title: Re: AICL -- Adamjee Insurance
Post by: M&M on November 02, 2012, 10:06:10 PM
(http://www.kse.com.pk/newsimage/037483-1.gif)
http://www.kse.com.pk/notices-updates/detail2.php?id=4&nid=038483
competitor
TPL insurance and igi insurance are also interested..
ALICO is enjoying  :laugh:
Title: Re: AICL -- Adamjee Insurance
Post by: Abdul Qadir on November 05, 2012, 11:13:09 AM
AICL attractive around 64 ...
Target above 70 Insha ALLAH.

LAOOOOOO MAAAAAAAAAAAL........ :D
Title: Re: AICL -- Adamjee Insurance
Post by: aqadir92 on November 05, 2012, 11:22:34 AM
thankz qadir bhai cha gaiy app to :clap1:
Title: Re: AICL -- Adamjee Insurance
Post by: mahmad786 on November 13, 2012, 01:07:13 PM
Holding for more than 2 months now .Is kee garee 66 per thus ho jatee hey.......pretty slow pacer...
Title: Re: AICL -- Adamjee Insurance
Post by: Farzooq on November 19, 2012, 10:23:01 PM
Target 80 on break of 67
Title: Re: AICL -- Adamjee Insurance
Post by: Farzooq on November 20, 2012, 10:07:58 AM
We reiterate ‘Buy’ stance on Adamjee Insurance (AICL), Pakistan’s largest non-life insurance firm with more than 25% market share which has underperformed broader market by 2% so far in 2012 despite improving core earnings. The company has posted an earnings growth of 129% in 9M2012 primarily due to lower provisioning in 2012.  Thus, with upward revision in 2012 earnings and improving portfolio value, our sum of the parts target price for Adamjee Insurance has been revised upward to Rs88 per share (including discounted portfolio value of Rs80).  The stock trades at PE of 6.3x based on estimated earnings of 2012.
 
Improved core earnings on QoQ
 
Thanks to improving underwriting business, the company posted EPS of Rs3.19 in 3Q2012 versus EPS of Rs1.03 in preceding quarter (2Q2012). Compared to loss of Rs233mn in underwriting business in 2Q2012, company posted underwriting profit of Rs200mn. This primarily stems from lower insurance claims from Motor segment. As a result, claim ratio (net claim over net premium) stood at 52% in 3Q2012 versus 76% in 2Q2012.
 
Overall in 9M2012, Adamjee posted EPS of Rs6.8 in 9M2012 compared to EPS of Rs3 last year. Though, net premium reduced by 20%, decline in net claims by 22% and sharp reduction in provision against doubtful receivables help strengthen company’s bottomline. Last year during the same period, the company booked provision of Rs522mn related to premiums which were due but not paid by policy holders (especially by textile and sugar companies) and on the receivables related to coinsurer’s inability to reimburse funds due to defaults.
 
However, so far in 2012, no such provisioning has been made, according to our discussion with the management.
 
Moreover, higher investment income also remained the major earnings driver as last year due to depressed market condition the company booked impairment on investment.
 
Low prov. & capital gain to improve 2012 EPS
 
With improving core earnings and better stock market gain of 43%YTD, we expect Adamjee Insurance to post EPS of Rs10.2 in 2012 compared to EPS of Rs1.1 in 2011.  Company is likely to benefit from estimated unrealized gain of Rs2.5 per share on its equity portfolio as we expect some portion will be realized in last quarter. On the flip side, claim ratio is expected to remain higher in 4Q2012 due to tragic fire incident in a factory in Karachi.
 
Investments worth Rs13.6bn (Rs110/share)
 
The major chunk of the company’s investment is concentrated in equities. Of Rs13.6bn estimated market value of investments, approx. Rs9.7bn (71% weight age) is invested in stock market with residual investment in fixed income and bank deposits. Within the stock market exposure, the investment is skewed towards its group companies, particularly MCB that accounts for 57% of the company’s equity investment and 40% of total investment.

topline
Title: Re: AICL -- Adamjee Insurance
Post by: masamad on November 22, 2012, 10:05:05 AM
today AICL show.
Title: Re: AICL -- Adamjee Insurance
Post by: Abdul Qadir on November 22, 2012, 11:58:36 AM
AICL attractive around 64 ...
Target above 70 Insha ALLAH.

LAOOOOOO MAAAAAAAAAAAL........... :D
Title: Re: AICL -- Adamjee Insurance
Post by: Farzooq on November 22, 2012, 12:26:28 PM
Earnings hiked on better underwriting result
We raise our earnings forecast for AICL to Rs8.96 for full year 2012, up 51% from
our earlier estimate of Rs5.93 per share. The revision has come in mainly on
account of recovery in the underwriting business of the company which returned to
profitability in 3Q2012. Similarly 2013F earnings are also likley to grow by 25%YoY
to Rs11.23 per share, led by core business. However, given that the KSE is
currently trading at all time high above the 16,000 level we eye relatively stable
investment income post 2012. We continue to maintain our ‘Buy’ call on the stock
with a revised target price of Rs72.

9M2012 result review
AICL’s underwriting business returned to profitability in 3Q2012 posting
underwriting profits of Rs200mn compared to a loss of Rs46mn in the
corresponding period last year and a loss of Rs233mn in 2Q2012. Decline in claims
ratio to 51.8% in 3Q, down 16ppt YoY and 24ppt QoQ was the main factor
bolstering underwriting results.

9M2012 Financial highlights
(Rs mn) 9M2012 9M2011 YoY%? 3Q2012 2Q2012 QoQ%? YoY%?
Net premium 4 ,300 5,370 -20% 1 ,379 1,411 -2% -16%
Net claims 2,800 3,568 -22% 7 15 1,074 -33% -36%
Expenses 1 ,244 1,293 -4% 3 79 5 00 -24% -18%
Net commission 2 44 3 84 -36% 8 5 7 0 22% -28%
Underwriting result 1 2 1 26 -90% 2 00 ( 233) NM NM
Investment income 8 96 9 35 -4% 2 76 3 28 -16% -44%
Other income 1 17 1 19 -2% 4 0 4 7 -14% 26%
Gen. & adm. expense 1 64 6 77 -76% 6 6 5 3 25% -84%
Profit Before Tax 8 58 4 94 74% 4 50 8 7 414% 606%
Profit After Tax 8 42 3 69 128% 3 94 1 27 209% 668%
Earning per share 6 .81 2 .98 128% 3 .19 1 .03 209% 668%
Source: Company accounts

Apart from this, the company’s general and administrative expenses came down
considerably in 3Q2012, down 84%YoY, as the company announced one-off
golden handshakes to employees last year. As a result, the company posted
earnings of Rs394mn (EPS: Rs3.19) in 3Q2012, up 668%YoY and 209%QoQ.
With this, in 9M2012 the company posted a PAT of Rs842mn (EPS: Rs6.81), up
128%YoY. Main reason for the growth was again the 76%YoY decline in general
and administrative expenses. Interestingly, underwriting result turned to profitability
with the 3Q results, however was down 90%YoY in 9M2012. Net premiums
declined by 20%YoY while net claims fell by 22%YoY leading to a decline in the
claims ratio to 65.1% in 9M2012 from 66.4% in 9M2011. Segment wise breakup
shows that claims ratio fell the most in the miscellaneous section (down 19ppts
YoY) to 61.9% followed by Motor and Marine sections which fell by 2ppt each to
65.3% and 50.3%, respectively. As for the fire and property section, claims ratio
rose by 16ppts to 77.3% in 9M2012.

Investment income continue to support
Apart from positives in the core business, dividend income from its strong
investment portfolio continued to support the bottom line of the company coming in
at Rs685mn (down a minor 2%) in 9M2012. Furthermore, with the KSE up by
36.1% in 9M2012, the company also booked Rs51mn in reversals for impairment in
investment compared to provisions of Rs131mn in the corresponding period last
year. As a result, total investment income was recorded at Rs896mn, down
4%YoY. Given the KSE-100 is at its all time high currently, after a strong YTD2012
return, we believe investment income will be moderate post 2012, though we still
expect the same to support the bottom line.

Revised estimates
(Rs) New Old %?
2012E 8 .96 5 .93 51%
2013F 1 1.23 8 .17 37%
Target Price 7 2 7 4 -3%
Source: JS Research estimates
Title: Re: AICL -- Adamjee Insurance
Post by: ally on November 23, 2012, 01:31:54 AM
Farzooq and M&M bahi,

AICL went above 66 with good volumes......break confirm hy ya we need to wait for a seesion or two more.....

what you guys suggest one should wait for some appreciation before selling ya phir nikal dea gae.....
Title: Re: AICL -- Adamjee Insurance
Post by: llllll on November 23, 2012, 02:26:39 AM
what about holding it for next 12-18 months and
possibility of bonus with year end figures?
Title: Re: AICL -- Adamjee Insurance
Post by: Abdul Qadir on November 23, 2012, 10:14:54 AM
AICL attractive around 64 ...
Target above 70 Insha ALLAH.

LAOOOOOO MAAAAAAAAAAAL........... :D

Target acheived.. ;)
Title: Re: AICL -- Adamjee Insurance
Post by: masamad on November 23, 2012, 10:21:37 AM
wah qadir bhai aap great ho.
Title: Re: AICL -- Adamjee Insurance
Post by: 007 on November 23, 2012, 11:36:46 AM
AICL attractive around 64 ...
Target above 70 Insha ALLAH.

LAOOOOOO MAAAAAAAAAAAL........... :D

Target acheived.. ;)

 :biggthumpup:
Title: Re: AICL -- Adamjee Insurance
Post by: M&M on November 23, 2012, 11:47:13 AM
Farzooq and M&M bahi,

AICL went above 66 with good volumes......break confirm hy ya we need to wait for a seesion or two more.....

what you guys suggest one should wait for some appreciation before selling ya phir nikal dea gae.....
hold till result atleast
Title: Re: AICL -- Adamjee Insurance
Post by: sanwar on November 23, 2012, 12:31:37 PM
Farzooq and M&M bahi,

AICL went above 66 with good volumes......break confirm hy ya we need to wait for a seesion or two more.....

what you guys suggest one should wait for some appreciation before selling ya phir nikal dea gae.....
hold till result atleast

@ M&M bhai, any specific target in mind...?
Title: Re: AICL -- Adamjee Insurance
Post by: M&M on November 23, 2012, 02:20:26 PM
Farzooq and M&M bahi,

AICL went above 66 with good volumes......break confirm hy ya we need to wait for a seesion or two more.....

what you guys suggest one should wait for some appreciation before selling ya phir nikal dea gae.....
hold till result atleast

@ M&M bhai, any specific target in mind...?
80
Title: Re: AICL -- Adamjee Insurance
Post by: aliraza on December 18, 2012, 12:13:49 PM
Farzooq and M&M bahi,

AICL went above 66 with good volumes......break confirm hy ya we need to wait for a seesion or two more.....

what you guys suggest one should wait for some appreciation before selling ya phir nikal dea gae.....
hold till result atleast

@ M&M bhai, any specific target in mind...?
80

mm bhai result tak hope 100 kare jaye gaa and good bonus accpet kay view haa apka
Title: Re: AICL -- Adamjee Insurance
Post by: Farzooq on December 22, 2012, 01:07:05 PM
At 30 September 2012, the fair value of available-for-sale securities was Rupees 12,305.972 million (31 December 2011: Rupees 9,556.734 million).

Investments worth 100rs per share as of 31st sept which will be much higher now as 55-60% of the investment is in mcb. Cash worth 20rs. This is apart from its core insurance business.

Hold with March target of 85
Title: Re: AICL -- Adamjee Insurance
Post by: Salammembers on January 04, 2013, 11:22:53 AM
looking cheap but uncertainity around14th Jan outcome keeping buyers away?
Title: Re: AICL -- Adamjee Insurance
Post by: Salammembers on January 06, 2013, 04:16:31 PM
Dear Gurus,
kia Aicl portfolio maay current price paar khappay,khappay, khappay?
Title: Re: AICL -- Adamjee Insurance
Post by: Salammembers on January 09, 2013, 03:25:38 PM
mcb k paichaay aicl koo b bhagna hoo Ga, looks attractive for both short and medium,
for longterm -its evergreen scrip
if one can hold for few months- loss unlikely if not 0% and that too because of political uncertainity
Title: Re: AICL -- Adamjee Insurance
Post by: Salammembers on January 20, 2013, 07:42:57 PM
koi bola Aicl aab nahi tu kabhi nahi,
I agree
Title: Re: AICL -- Adamjee Insurance
Post by: Salammembers on January 23, 2013, 12:23:10 AM
Volume up  for last 2 days, sector sentiments getting positive and  index too heading north again after MQM  given reassurance by Fakhru bhai,meeting date too getting closer  tu phir laoo maal aicl for short, medium and long term
Title: Re: AICL -- Adamjee Insurance
Post by: Salammembers on January 24, 2013, 10:03:52 AM
Exit point pl based on TA
Title: Re: AICL -- Adamjee Insurance
Post by: Salammembers on January 31, 2013, 04:33:28 AM
30% sold due to mkt rumors aand poltical uncertainity, hope to re-enter at some point but for next few days going 2 bet on ppl and may b buy few more shel for short term trading . Might switch further 20% aicl to nml today after cing mkt mood
Title: Re: AICL -- Adamjee Insurance
Post by: Ali Ahmed on February 22, 2013, 04:34:09 PM
When is the BM?
Title: Re: AICL -- Adamjee Insurance
Post by: M&M on February 22, 2013, 10:29:35 PM
When is the BM?

after mid march
Title: Re: AICL -- Adamjee Insurance
Post by: PK on February 27, 2013, 10:04:27 PM
Laoo 80/- ka aicl .. yaar .. muje bechna hai  ;)
Title: Re: AICL -- Adamjee Insurance
Post by: M&M on February 27, 2013, 10:28:20 PM
Laoo 80/- ka aicl .. yaar .. muje bechna hai  ;)

subhi ko behcna hey bhai hehe
itney dheet pan ke baad lao 90  :D
Title: Re: AICL -- Adamjee Insurance
Post by: Salammembers on February 27, 2013, 11:19:12 PM
mcb k paichaay aicl koo b bhagna hoo Ga, looks attractive for both short and medium,
for longterm -its evergreen scrip
if one can hold for few months- loss unlikely if not 0% and that too because of political uncertainity
apni post nobody read :skeptic:
Title: Re: AICL -- Adamjee Insurance
Post by: aliraza on March 01, 2013, 06:40:05 PM
Laoo 80/- ka aicl .. yaar .. muje bechna hai  ;)

subhi ko behcna hey bhai hehe
itney dheet pan ke baad lao 90  :D

mm bhai aicl ko kuch boom boom afridi karoooooo ya 70 sa 76 ke range ma hee goom raha ha
isko to above 85 hona chaiiii march maaaaaaaa
Title: Re: AICL -- Adamjee Insurance
Post by: M&M on March 01, 2013, 07:21:38 PM
Laoo 80/- ka aicl .. yaar .. muje bechna hai  ;)

subhi ko behcna hey bhai hehe
itney dheet pan ke baad lao 90  :D

mm bhai aicl ko kuch boom boom afridi karoooooo ya 70 sa 76 ke range ma hee goom raha ha
isko to above 85 hona chaiiii march maaaaaaaa

haan sahe baat hey .. ab nahin chalega to kab chalega. hold rakho
Title: Re: AICL -- Adamjee Insurance
Post by: PK on March 01, 2013, 08:42:49 PM
mcb k paichaay aicl koo b bhagna hoo Ga, looks attractive for both short and medium,
for longterm -its evergreen scrip
if one can hold for few months- loss unlikely if not 0% and that too because of political uncertainity
apni post nobody read :skeptic:
Haa yaar ur right most of the times ur post goes unappreciated ..reason on my part is k u keep on talking to urself .. i prefer nt to interfere ...  :D anyways ..u always talk logic .. thanks for ur effort ..
Title: Re: AICL -- Adamjee Insurance
Post by: aliraza on March 05, 2013, 05:05:10 PM
Laoo 80/- ka aicl .. yaar .. muje bechna hai  ;)

subhi ko behcna hey bhai hehe
itney dheet pan ke baad lao 90  :D

mm bhai aicl ko kuch boom boom afridi karoooooo ya 70 sa 76 ke range ma hee goom raha ha
isko to above 85 hona chaiiii march maaaaaaaa

haan sahe baat hey .. ab nahin chalega to kab chalega. hold rakho

mm bhai aicl ko is level pa to sharm ani chaiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiii 80 laooooooooooooo
Title: Re: AICL -- Adamjee Insurance
Post by: neppra on March 05, 2013, 11:07:33 PM
Laoo 80/- ka aicl .. yaar .. muje bechna hai  ;)

subhi ko behcna hey bhai hehe
itney dheet pan ke baad lao 90  :D

mm bhai aicl ko kuch boom boom afridi karoooooo ya 70 sa 76 ke range ma hee goom raha ha
isko to above 85 hona chaiiii march maaaaaaaa

haan sahe baat hey .. ab nahin chalega to kab chalega. hold rakho

mm bhai aicl ko is level pa to sharm ani chaiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiii 80 laooooooooooooo

nasir jamshed, hafeeez , ya phir ahmad shahzad mi misaal do , afridi to ab kabhi boom boom nhi karne wala
Title: Re: AICL -- Adamjee Insurance
Post by: aliraza on March 10, 2013, 06:51:46 PM
aicl ke trading ka leya  count down suroo kar loo guys laooooooo he laooooooo haa is ma
Title: Re: AICL -- Adamjee Insurance
Post by: sanwar on March 10, 2013, 08:04:55 PM
aicl ke trading ka leya  count down suroo kar loo guys laooooooo he laooooooo haa is ma

@Ali Raza bhai, what is your target and timeframe...??
I have been sitting on it for many months in hope for upward move... but every time it moves up, it comes back to it position in a day or two...
Title: Re: AICL -- Adamjee Insurance
Post by: PK on March 10, 2013, 08:48:49 PM
aicl ke trading ka leya  count down suroo kar loo guys laooooooo he laooooooo haa is ma

@Ali Raza bhai, what is your target and timeframe...??
I have been sitting on it for many months in hope for upward move... but every time it moves up, it comes back to it position in a day or two...
85/- ... m expecting it to be  80 within this month ..  :fingerscrossed1:
Title: Re: AICL -- Adamjee Insurance
Post by: sanwar on March 10, 2013, 09:02:58 PM
aicl ke trading ka leya  count down suroo kar loo guys laooooooo he laooooooo haa is ma

@Ali Raza bhai, what is your target and timeframe...??
I have been sitting on it for many months in hope for upward move... but every time it moves up, it comes back to it position in a day or two...
85/- ... m expecting it to be  80 within this month ..  :fingerscrossed1:

Thanks PK bhai...!
Title: Re: AICL -- Adamjee Insurance
Post by: obaid6 on March 10, 2013, 09:55:43 PM
aicl ke trading ka leya  count down suroo kar loo guys laooooooo he laooooooo haa is ma

@Ali Raza bhai, what is your target and timeframe...??
I have been sitting on it for many months in hope for upward move... but every time it moves up, it comes back to it position in a day or two...
85/- ... m expecting it to be  80 within this month ..  :fingerscrossed1:

yr whatever the target is bs isko laaao kro ab next week se.soya mra pra ha  :lazy2: dheeeeeeeeeeeeet
Title: Re: AICL -- Adamjee Insurance
Post by: newface on March 12, 2013, 12:06:35 PM
 
LAOOOOOOOOOOOOOOOOOO karo AICL ko please. It has immense potential to touch 85.
A sincere advice. Dehan apna apna
Title: Re: AICL -- Adamjee Insurance
Post by: TechGuru on March 13, 2013, 07:26:41 PM
Is AICL board meeting date announced yet?
Title: Re: AICL -- Adamjee Insurance
Post by: newface on March 13, 2013, 07:44:26 PM
 :rtfm:
Title: Re: AICL -- Adamjee Insurance
Post by: aliraza on March 13, 2013, 07:58:50 PM
Is AICL board meeting date announced yet?


my be next two session ya next week bm accept and then ??????
Title: Re: AICL -- Adamjee Insurance
Post by: TechGuru on March 13, 2013, 11:41:59 PM
Yaar I think the day its BM date is announced it will give some upward rally... i am holding  AICL of avg. around 71..  will sell with 2-3 rupees gain.
Title: Re: AICL -- Adamjee Insurance
Post by: guru1 on March 14, 2013, 12:46:26 PM
KOI ISS K PORTFOLIO KI PER SHARE VALUE BATASAKTA HA? :rtfm:
Title: Re: AICL -- Adamjee Insurance
Post by: aliraza on March 15, 2013, 03:34:10 PM
Is AICL board meeting date announced yet?


my be next two session ya next week bm accept and then ??????

lagta haa intzar ke gari khatam bm 21 march laoooooooooo aicl ab 80 plus
Title: Re: AICL -- Adamjee Insurance
Post by: aliraza on March 16, 2013, 05:38:46 PM
mm bhai aicl kab chale gaa bm 21 march ko haa jab mrkt neach jaye gee tab chale gaaa kayyyyyyyyyy kuch is ka be khail kare
Title: Re: AICL -- Adamjee Insurance
Post by: aliraza on March 18, 2013, 11:36:21 AM
mm bhai aicl kab chale gaa bm 21 march ko haa jab mrkt neach jaye gee tab chale gaaa kayyyyyyyyyy kuch is ka be khail kare

mm bhai aicl kab chale gaa bm 21 march ko haa jab mrkt neach jaye gee tab chale gaaa kayyyyyyyyyy kuch is ka be khail kare


challlllllllllllllll para  mrkt 270 negative or aicl cappppppppppppppppppp  :dance :dance :dance
Title: Re: AICL -- Adamjee Insurance
Post by: TechGuru on March 18, 2013, 11:39:10 AM
LAAAOO AICL   :dance :dance :dance :dance :dance :dance
Title: Re: AICL -- Adamjee Insurance
Post by: aliraza on March 19, 2013, 08:33:44 PM
buy on weeknes again and hold aicl abhi target achive hona haa
Title: Re: AICL -- Adamjee Insurance
Post by: aalam on March 19, 2013, 08:51:12 PM
buy on weeknes again and hold aicl abhi target achive hona haa
ghatya share :mad:
Title: Re: AICL -- Adamjee Insurance
Post by: PK on March 19, 2013, 10:39:17 PM
buy on weeknes again and hold aicl abhi target achive hona haa
ghatya share :mad:
80 ka hojayega to abhi yehi kahega alaam ???  :tongue:
Title: Re: AICL -- Adamjee Insurance
Post by: newface on March 21, 2013, 06:34:49 PM
buy on weeknes again and hold aicl abhi target achive hona haa
ghatya share :mad:

Ghatya Tareeeen Share AICL...... Aaaaaaaaaaaaaaaaaakh thu
Title: Re: AICL -- Adamjee Insurance
Post by: newface on March 21, 2013, 06:37:10 PM
 
Thanks GOD I had sold this manhus share few days back.

 :dance :dance :dance
Title: Re: AICL -- Adamjee Insurance
Post by: obaid6 on March 21, 2013, 06:41:30 PM
buy on weeknes again and hold aicl abhi target achive hona haa
ghatya share :mad:

Ghatya Tareeeen Share AICL...... Aaaaaaaaaaaaaaaaaakh thu


Thanks GOD I had sold this manhus share few days back.

 :dance :dance :dance



Agreed......................... sold today before result announcement     :dance   :dance     :dance
Title: Re: AICL -- Adamjee Insurance
Post by: aliraza on March 23, 2013, 02:46:51 PM
mm bhai aicl result dissappoint kuch nahee deya kuch holding raha gee haa ab to sabar he kar sakta haaa let see next support kaha milte haa :bangin:
Title: Re: AICL -- Adamjee Insurance
Post by: HAMDANI_Punjtani on March 23, 2013, 06:12:38 PM
Guys where do u see this share heading?
Also need some comments on the result.MM bro pls comment

Title: Re: AICL -- Adamjee Insurance
Post by: Salammembers on March 23, 2013, 06:15:29 PM
mm bhai aicl result dissappoint kuch nahee deya kuch holding raha gee haa ab to sabar he kar sakta haaa let see next support kaha milte haa :bangin:
  yeh, mkt gets it right 99.9% of time :rtfm:
Title: Re: AICL -- Adamjee Insurance
Post by: Irfankhan on March 23, 2013, 07:14:39 PM
Brothers, Kindly adivse the shareholdings that AICL has in its portfolio. thank you.
Title: Re: AICL -- Adamjee Insurance
Post by: Irfankhan on March 25, 2013, 05:48:28 AM
Brothers, Kindly adivse the shareholdings that AICL has in its portfolio. thank you.
knock knock
Title: Re: AICL -- Adamjee Insurance
Post by: newface on March 26, 2013, 08:21:55 PM
I wonder how and why AICL appreciated Rs. 3.34 plus and got upper locked today !  :confused1:
Title: Re: AICL -- Adamjee Insurance
Post by: aliraza on March 26, 2013, 08:26:00 PM
I wonder how and why AICL appreciated Rs. 3.34 plus and got upper locked today !  :confused1:

technical good suppot around 66 so comeback let see tomarrow movement
Title: Re: AICL -- Adamjee Insurance
Post by: sheikhnazir11 on March 26, 2013, 10:54:54 PM
kal aur aaj aicl me short selling hui thi. is liye big b.s  ne use catch kiya .ab ye barhta jaega jab tak log bhata nahin katenge
Title: Re: AICL -- Adamjee Insurance
Post by: Salammembers on March 27, 2013, 12:42:28 AM
Most insurance sector scrips were in green today, aicl a sector giant can overperform in all seasons. Always risky to guess such scrips direction on mkt ki awazain
Title: Re: AICL -- Adamjee Insurance
Post by: Salammembers on May 02, 2013, 09:58:15 AM
Most insurance sector scrips were in green today, aicl a sector giant can overperform in all seasons. Always risky to guess such scrips direction on mkt ki awazain


Excellent result , buy khappay tgt 100 by dec 2013
Title: Re: AICL -- Adamjee Insurance
Post by: Salammembers on May 03, 2013, 04:28:01 PM
Most insurance sector scrips were in green today, aicl a sector giant can overperform in all seasons. Always risky to guess such scrips direction on mkt ki awazain


Excellent result , buy khappay tgt 100 by dec 2013

laoooooooooooooooooooooooooooooo maaaal  ;)
Title: Re: AICL -- Adamjee Insurance
Post by: aliraza on May 03, 2013, 05:08:06 PM
Most insurance sector scrips were in green today, aicl a sector giant can overperform in all seasons. Always risky to guess such scrips direction on mkt ki awazain


Excellent result , buy khappay tgt 100 by dec 2013

laoooooooooooooooooooooooooooooo maaaal  ;)

inshallah ho gaa 100 aicl
Title: Re: AICL -- Adamjee Insurance
Post by: Salammembers on May 07, 2013, 01:26:36 PM
If u got maal, sell in R and buyback  cheaPer in F
Title: Re: AICL -- Adamjee Insurance
Post by: alij on May 07, 2013, 01:50:02 PM
If u got maal, sell in R and buyback  cheaPer in F

Could you elaborate what R and F stand for?
Title: Re: AICL -- Adamjee Insurance
Post by: Salammembers on May 07, 2013, 01:53:00 PM
regular and future
Title: Re: AICL -- Adamjee Insurance
Post by: Salammembers on May 07, 2013, 05:16:09 PM
Laoooo maal   :tongue:
Title: Re: AICL -- Adamjee Insurance
Post by: Salammembers on May 08, 2013, 01:52:37 PM
UL :rtfm:
Title: Re: AICL -- Adamjee Insurance
Post by: Salammembers on May 12, 2013, 07:03:32 PM
Mansha items now expected to reach their FV, aicl and nml 100 khappay and last few days gaar bhaar in aicl May F price suggest 100 saay ooper ka game because only very big boys can afford to play such games  :tongue:
Title: Re: AICL -- Adamjee Insurance
Post by: Salammembers on May 13, 2013, 12:05:48 PM
laoooooooooooooooooooooooooooooooooooooooooooooooooos maal :dance :dance :dance :dance :dance :dance :dance
Title: Re: AICL -- Adamjee Insurance
Post by: Farzooq on May 20, 2013, 02:58:12 PM
Earnings hiked on better investment income
We raise our 2013E earnings estimate for AICL to Rs15.42/share, up 37% from our
earlier estimate of Rs11.23/share. The revision is led mainly by revising up
investment income estimates, post higher than anticipated investment income in
1Q2013. We also expect AICL to book gain on sale of shares of Unilever Pakistan
in 2Q2013 (positive impact of Rs3.22/share on the bottom line) which is likely to
further boost 2Q profitability. At the same time, we revise up 2014F earnings to
Rs18.12/share as well (+18% YoY), assuming a gradual recovery in core business.
That said with most of the positives already priced-in; we downgrade AICL by one
notch to ‘Hold’ from ‘Buy’ earlier with a revised target price of Rs91.

1Q2013 financial review
Despite lower net premiums (-13%YoY), AICL’s underwriting business remained in
the green in 1Q2013 posting underwriting profits of Rs46mn compared to Rs45mn
in the corresponding period last year.
1Q2013 Financial highlights
(Rs mn) 1Q2013 1Q2012 YoY%?
Net premium 1,309 1,510 -13%
Net claims 825 1,011 -18%
Expenses 351 365 -4%
Net commission 8 7 89 -2%
Underwriting result 4 6 45 2%
Investment income 709 292 143%
Other income 3 5 31 13%
Gen. & adm. expense 5 4 46 17%
Profit Before Tax 738 320 130%
Tax 3 7 27 36%
Profit After Tax 701 293 139%
Earning per share 5.67 2.37 139%
Source: Company accounts

Growth remained weak in the core business, given slow macro growth
environment. Claims ratio fell to 63.0% in 1Q, down 4ppt YoY while combined ratio
fell by 1ppt to 89.8% which somewhat supported the underwriting results. Apart
from this, the company’s investment income grew considerably by 143%YoY to
Rs709mn, which was the major driver of earnings growth. Growth in investment
income mainly came in from higher dividend income from associates (+150%YoY)
and 21x higher gain on sale of investments booked by the company. As a result,
AICL posted earnings of Rs701mn (EPS: Rs5.67) in 1Q2013, up 139%YoY.

Outlook
Going forward we anticipate relative stable investment income (KSE-100 index
already trading at all time high crossing the 20,000 mark) post 2Q2013. That said,
recovery in underwriting business going forward is likely to be the key earnings
drivers. To recall in 2012, the company reported underwriting losses of Rs412mn.
The stock is currently trading at 2013E PE and PBV of 5.4x and 0.8x respectively
and with positives largely priced-in, we downgrade our stance on the stock to ‘Hold’

jsgcl
Title: Re: AICL -- Adamjee Insurance
Post by: Salammembers on May 29, 2013, 10:33:30 AM
Not selling below 100 :tongue:
Title: Re: AICL -- Adamjee Insurance
Post by: asadullah1977 on May 29, 2013, 11:34:56 AM
 :$: :confused1:
badi mushkil say niklaa houn on profit sold at 83.75 -----agay mkt ka kya paataa jhoolay dai rahi hai so better 2 book profit and buy on dips In Sha Alalh  :fingerscrossed1:
Title: Re: AICL -- Adamjee Insurance
Post by: Salammembers on May 29, 2013, 12:13:52 PM
:$: :confused1:
badi mushkil say niklaa houn on profit sold at 83.75 -----agay mkt ka kya paataa jhoolay dai rahi hai so better 2 book profit and buy on dips In Sha Alalh  :fingerscrossed1:

Sir,
yeh INSHALLAH sirf apnaay liay lagta haay :o
aik kaam ki baat,
when u invest /buy solid maal like aicl -never worry or try to play according to mkt trend,
u will gain more and your health will avoid un-neccesary harm though choice is indeed yoursl
Title: Re: AICL -- Adamjee Insurance
Post by: asadullah1977 on May 29, 2013, 01:32:43 PM
 :confused1:
Yaar wo AICL-May thaa isliya zaraa jaldi main thaa  :bangin:
Title: Re: AICL -- Adamjee Insurance
Post by: Salammembers on May 29, 2013, 09:28:09 PM
Gora buying now :rtfm: fairly obvious,
aicl has always been 1 of the Gora Favourite scrip,
so hold no pl LOCK :confused1: and INSHALLAH v will
b rewarded handsomely,
waisaay b its fair valued at present and safe long term holding
tu weak and faint hearts kio na aicl buy karaay :dance :dance :dance
Title: Re: AICL -- Adamjee Insurance
Post by: MZ on May 29, 2013, 10:36:24 PM
Gora buying now :rtfm: fairly obvious,
aicl has always been 1 of the Gora Favourite scrip,
so hold no pl LOCK :confused1: and INSHALLAH v will
b rewarded handsomely,
waisaay b its fair valued at present and safe long term holding
tu weak and faint hearts kio na aicl buy karaay :dance :dance :dance

 :good
Title: Re: AICL -- Adamjee Insurance
Post by: Salammembers on June 03, 2013, 11:25:32 AM
Big boys buying done,
now Revise FV report expected soon :tongue:
not a buy call,
buy calls already given in early 80s and holding locked
in main CDC account
Title: Re: AICL -- Adamjee Insurance
Post by: PK on June 03, 2013, 06:07:19 PM
Should trade 100+ soon  :fingerscrossed1:
Title: Re: AICL -- Adamjee Insurance
Post by: SBM on June 03, 2013, 06:30:30 PM
Should trade 100+ soon  :fingerscrossed1:

 ;)
Title: Re: AICL -- Adamjee Insurance
Post by: TechGuru on June 07, 2013, 02:10:37 AM
Lao Adam! it corrected its 23.6% (67.81--89.50) level today.. now its ready to take off!
Title: Re: AICL -- Adamjee Insurance
Post by: naro on June 07, 2013, 04:31:55 AM
  :lazy2:                          :$:                               :lazy2:
Title: Re: AICL -- Adamjee Insurance
Post by: Salammembers on June 08, 2013, 12:41:47 AM
Lao Adam! it corrected its 23.6% (67.81--89.50) level today.. now its ready to take off!
  ;  chalna tu haay but junta cannot predict precise moment because its big boys item :rtfm:
Title: Re: AICL -- Adamjee Insurance
Post by: SBM on June 08, 2013, 01:07:58 AM
http://goo.gl/LnsVl

market value of investment pf , roughly 17.25 billion
market value of aicl 10.612 billion

Title: Re: AICL -- Adamjee Insurance
Post by: Saiti on June 08, 2013, 08:46:31 AM
http://goo.gl/LnsVl

market value of investment pf , roughly 17.25 billion
market value of aicl 10.612 billion

Phir tou AICL ko double karien ... Thanks :p
Title: Re: AICL -- Adamjee Insurance
Post by: newface on June 08, 2013, 09:49:16 AM
The most THAKKAL and THAKKAL Co.

Ghorey Gadhey chal gaey magar Ye na chala. 

Title: Re: AICL -- Adamjee Insurance
Post by: TechGuru on June 08, 2013, 10:37:10 AM
The most THAKKAL and THAKKAL Co.

Ghorey Gadhey chal gaey magar Ye na chala.

jab chalay ga to haath nahi aaega! :good
Title: Re: AICL -- Adamjee Insurance
Post by: naro on June 08, 2013, 02:25:51 PM
 :D        :lazy2:
http://goo.gl/LnsVl

market value of investment pf , roughly 17.25 billion
market value of aicl 10.612 billion

Phir tou AICL ko double karien ... Thanks :p
Title: Re: AICL -- Adamjee Insurance
Post by: Abdul Qadir on June 08, 2013, 04:00:36 PM
Start buying
Initial target 120
Title: Re: AICL -- Adamjee Insurance
Post by: naro on June 08, 2013, 04:09:19 PM
 :biggthumpup:

bus issi call ka intzar tha.............lllllllllllaaaaaaaaaaaaooooooooooooooooooooo 120 :thumbsup_anim:
Title: Re: AICL -- Adamjee Insurance
Post by: PK on June 08, 2013, 04:13:53 PM
:biggthumpup:

bus issi call ka intzar tha.............lllllllllllaaaaaaaaaaaaooooooooooooooooooooo 120 :thumbsup_anim:
140/150 nahi chahiye kya ?  :D
Title: Re: AICL -- Adamjee Insurance
Post by: naro on June 08, 2013, 04:35:59 PM
 :tongue: :thanks: pk tumhaie maie shakarghar ki shakar courier kar do aisi call par yaqeen mano....moun meethaaaaaaaaaaaa he rahayyyyyyyyyyyyyyy....
:biggthumpup:

bus issi call ka intzar tha.............lllllllllllaaaaaaaaaaaaooooooooooooooooooooo 120 :thumbsup_anim:
140/150 nahi chahiye kya ?  :D
Title: Re: AICL -- Adamjee Insurance
Post by: umer on June 08, 2013, 06:34:58 PM
Pk is insider now  :D . Achay/Good targets deta hai. Pk is a big gun now. Pk k sources say fiada uthao bhaio yeh koi choti moti cheez nhe hai.
Title: Re: AICL -- Adamjee Insurance
Post by: Saiti on June 08, 2013, 06:43:07 PM
:biggthumpup:

bus issi call ka intzar tha.............lllllllllllaaaaaaaaaaaaooooooooooooooooooooo 120 :thumbsup_anim:
140/150 nahi chahiye kya ?  :D

 :shoaby:  :thumbsup_anim:  :good  :fingerscrossed1:
Title: Re: AICL -- Adamjee Insurance
Post by: Salammembers on June 10, 2013, 02:10:57 AM
http://tribune.com.pk/story/560915/sunny-side-up-country-has-changed-future-looks-really-bright-says-mansha/laòooooooooooooooooooooo maal mansha :rtfm:
Title: Re: AICL -- Adamjee Insurance
Post by: umair vohra on June 11, 2013, 12:02:37 PM
SALAM

BROTHER BUDJET KA KIYA EFFECT HOSKTA HAI ADAMJI INSURANCE PER?
Title: Re: AICL -- Adamjee Insurance
Post by: Salammembers on June 11, 2013, 12:18:44 PM
SALAM

BROTHER BUDJET KA KIYA EFFECT HOSKTA HAI ADAMJI INSURANCE PER?

Budget ka koi significant effect unlikely, because aicl abhi chala hee nahi following Q1 impressive figures,
plus ouulman bro posted aicl investment portfolio details and current valuation over the weekend
after which its appears the safest bet in pre-budget uncertainity . post election, Mansha high profile in media  makes
aicl even more attractive for weakhearts like me hence i bought more yesterday after reducing  cement sector exposure.
Title: Re: AICL -- Adamjee Insurance
Post by: umair vohra on June 11, 2013, 12:29:51 PM
SALAM

BROTHER BUDJET KA KIYA EFFECT HOSKTA HAI ADAMJI INSURANCE PER?

Budget ka koi significant effect unlikely, because aicl abhi chala hee nahi following Q1 impressive figures,
plus ouulman bro posted aicl investment portfolio details and current valuation over the weekend
after which its appears the safest bet in pre-budget uncertainity . post election, Mansha high profile in media  makes
aicl even more attractive for weakhearts like me hence i bought more yesterday after reducing  cement sector exposure.


thanks salman bhai actuallt abhi reserch start nahi kari to thora confuse ho k investment karo k nahi
Title: Re: AICL -- Adamjee Insurance
Post by: umair vohra on June 12, 2013, 11:50:25 AM
ADAMJIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII :dance :dance :dance
Title: Re: AICL -- Adamjee Insurance
Post by: Salammembers on June 13, 2013, 11:24:53 AM
aaj 88 totna zaroori haay otherwise something is wrong somewhere :confused1:
Title: Re: AICL -- Adamjee Insurance
Post by: umair vohra on June 13, 2013, 11:33:45 AM
aaj 88 totna zaroori haay otherwise something is wrong somewhere :confused1:

ARAY YAAR MAAL NIKALWARAHY HAI MJY YEH BULAGAYA HAI ISSAY APNAY BOARD SAY HATADO PER SALE KARDOGAY SASTY MAI  :dunno:
Title: Re: AICL -- Adamjee Insurance
Post by: Salammembers on June 13, 2013, 11:50:58 AM
ok thanks,
may b quantity generating dhak dhak as i bought few more aicl
yesterday as well
Title: Re: AICL -- Adamjee Insurance
Post by: umair vohra on June 13, 2013, 12:22:15 PM
ok thanks,
may b quantity generating dhak dhak as i bought few more aicl
yesterday as well

88 to cross karjhayga INSHAALLAH aaj
Title: Re: AICL -- Adamjee Insurance
Post by: umair vohra on June 13, 2013, 12:32:04 PM
laooooooooooooooooooooooo uper lock  :dance :dance :dance :dance
Title: Re: AICL -- Adamjee Insurance
Post by: umair vohra on June 13, 2013, 02:31:49 PM
koi topi phenao bahi issay aab :shoaby: :shoaby: :shoaby:
Title: Re: AICL -- Adamjee Insurance
Post by: th3.inv3stor on June 13, 2013, 10:39:14 PM
koi topi phenao bahi issay aab :shoaby: :shoaby: :shoaby:

Close above 91. Phir Topian hi Topian  :biggthumpup:
Title: Re: AICL -- Adamjee Insurance
Post by: umair vohra on June 14, 2013, 10:47:46 AM
divident income per tax 25% hoga instead of 35 % kiya hai applicable hai insurance sector k liyeh bhe ?
Title: Re: AICL -- Adamjee Insurance
Post by: aba on June 14, 2013, 11:37:27 AM
Nope, its not applicable on insurance companies. Further, for banks, dividend income from debts & money martket fund of AMC will be taxed at 25%.
Title: Re: AICL -- Adamjee Insurance
Post by: umair vohra on June 14, 2013, 11:45:52 AM
Nope, its not applicable on insurance companies. Further, for banks, dividend income from debts & money martket fund of AMC will be taxed at 25%.

noted and thanks brother
Title: Re: AICL -- Adamjee Insurance
Post by: aba on June 14, 2013, 12:47:04 PM
One pertinent change related to insurance companies is Capital Gain Tax (CGT).

CGT on shares held by insurance companies increased from 12.5% to 15% (if holding is less than 6-mths) and from 8.5% to 9% (if holding more than 6-mths but less than 1-year).

Regards
Title: Re: AICL -- Adamjee Insurance
Post by: umair vohra on June 14, 2013, 01:04:22 PM
One pertinent change related to insurance companies is Capital Gain Tax (CGT).

CGT on shares held by insurance companies increased from 12.5% to 15% (if holding is less than 6-mths) and from 8.5% to 9% (if holding more than 6-mths but less than 1-year).

Regards

thanks per Adamjiii ki investment major investment same he hai almost 3 salo say (RELATED GROUP INVESTMENT )
Title: Re: AICL -- Adamjee Insurance
Post by: umair vohra on June 14, 2013, 02:23:54 PM
MCB Bank Limited                                       100,245,201 (Divident income )
Allied Bank Limited                                         2,164,183             "
United Bank Limited                                       7,661,088             "
Fauji Fertilizer Company Limited                  13,611,990              "
Unilever Pakistan Limited                           398,699,000 (buy back record value @3428 per share buyback at 15000)

EPS------------------------------------------------------4.20/= which translate Halfyearly EPS Between 9.5 to 10.50 Plus Insurance profit and loss effect
so Laoooooooooooooooooooo Malllllllllllll
Title: Re: AICL -- Adamjee Insurance
Post by: umair vohra on June 15, 2013, 10:50:39 AM
HAAN BHAIYYYOOO INTEREST RATE KA KIYA EFFECT HOSKTA HAI IS PER
Title: Re: AICL -- Adamjee Insurance
Post by: umair vohra on June 18, 2013, 11:52:13 AM
 :bangin: :bangin: :bangin: :bangin: :bangin: :bangin: :bangin: :bangin: :bangin: :bangin: :bangin: :bangin:
Title: Re: AICL -- Adamjee Insurance
Post by: umair vohra on June 19, 2013, 02:40:19 PM
 :bangin: :bangin: :bangin:
Title: Re: AICL -- Adamjee Insurance
Post by: NoorMaier on June 21, 2013, 08:55:20 AM
AICL Analysis Update
http://noormaier.net/kse-analysis/aicl-adamjee-insurance-company-analysis-21-june-2013/
Title: Re: AICL -- Adamjee Insurance
Post by: alij on June 28, 2013, 10:06:21 AM
Any specific reasons why AICL is getting a beating? Should I average?

Thanks!
Title: Re: AICL -- Adamjee Insurance
Post by: umair vohra on June 28, 2013, 10:40:22 AM
Any specific reasons why AICL is getting a beating? Should I average?

Thanks!

aicl say jsil mai entry karoo INSHAALLAH acha profit bannay ga
Title: Re: AICL -- Adamjee Insurance
Post by: lovegreen on June 30, 2013, 11:41:51 PM
I am stuck in Aicl what should be stoploss in mind to get safe from more loss.
Title: Re: AICL -- Adamjee Insurance
Post by: MZ on July 01, 2013, 12:09:17 AM
I am stuck in Aicl what should be stoploss in mind to get safe from more loss.

in steep downtrend on charts.better to sell on strength,70 seems quite possible.
Title: Re: AICL -- Adamjee Insurance
Post by: 007 on July 01, 2013, 02:00:11 AM
AICL Analysis Update
http://noormaier.net/kse-analysis/aicl-adamjee-insurance-company-analysis-21-june-2013/

aik trg ka analysis bhi diya tha spp nay  huhu
Title: Re: AICL -- Adamjee Insurance
Post by: alij on July 08, 2013, 02:12:43 PM
Finally at my buying price...  :fingerscrossed1:
Title: Re: AICL -- Adamjee Insurance
Post by: naro on July 08, 2013, 09:41:26 PM
 :good  :good                        :shoaby:                      :good     :good
Title: Re: AICL -- Adamjee Insurance
Post by: 007 on July 09, 2013, 01:45:35 AM
Laoo aik aur cap
Title: Re: AICL -- Adamjee Insurance
Post by: lovegreen on July 09, 2013, 03:31:41 PM
Bakwas share Aicl  :thumbsdown_anim: Itnay above points mei bhe aj nhe chala.
Title: Re: AICL -- Adamjee Insurance
Post by: 007 on July 10, 2013, 10:08:06 AM
yes :(
Title: Re: AICL -- Adamjee Insurance
Post by: Hypnotized on July 10, 2013, 10:30:47 AM
Aicl baich k kis share main convert karna iss waqt better rahe ga?  :confused1:


Title: Re: AICL -- Adamjee Insurance
Post by: PK on July 15, 2013, 01:31:16 AM
Bakwas share Aicl  :thumbsdown_anim: Itnay above points mei bhe aj nhe chala.
Hold Bro .. i guess u wont regret ...
Title: Re: AICL -- Adamjee Insurance
Post by: PK on July 15, 2013, 01:32:32 AM
Movements expected this week lets hope it works this time ..  :fingerscrossed1: if nt thn chup chap hold karlo  :laugh:
Title: Re: AICL -- Adamjee Insurance
Post by: Saiti on July 16, 2013, 12:47:37 PM
Movements expected this week lets hope it works this time ..  :fingerscrossed1: if nt thn chup chap hold karlo  :laugh:


 :clap1: :clap1: :clap1: :clap1:     :shoaby: :shoaby: :shoaby: :shoaby: :shoaby:     :dance :dance :dance :dance :dance :dance :dance
Title: Re: AICL -- Adamjee Insurance
Post by: Hypnotized on July 16, 2013, 01:31:19 PM
 :crying_anim02:  huhu
Title: Re: AICL -- Adamjee Insurance
Post by: PK on July 16, 2013, 03:52:15 PM
Movements expected this week lets hope it works this time ..  :fingerscrossed1: if nt thn chup chap hold karlo  :laugh:
:shoaby: :clap1: :shoaby:
Title: Re: AICL -- Adamjee Insurance
Post by: naro on July 16, 2013, 07:11:12 PM
Movements expected this week lets hope it works this time ..  :fingerscrossed1: if nt thn chup chap hold karlo  :laugh:
:shoaby: :clap1: :shoaby:


 :thanks:             :dance
Title: Re: AICL -- Adamjee Insurance
Post by: 007 on July 16, 2013, 09:29:44 PM
+2 for pk  :thumbsup_anim:
Title: Re: AICL -- Adamjee Insurance
Post by: PK on July 16, 2013, 10:34:50 PM
:crying_anim02:  huhu
92$ ka hoga tb khush honge aap ?   :bangin:
Title: Re: AICL -- Adamjee Insurance
Post by: Hypnotized on July 17, 2013, 09:33:36 AM
:crying_anim02:  huhu
92$ ka hoga tb khush honge aap ?   :bangin:

I sold a couple of days ago!  huhu  huhu
Title: Re: AICL -- Adamjee Insurance
Post by: PK on July 18, 2013, 02:26:03 PM
uuu
:good :thumbsup_anim: :shoaby:
Title: Re: AICL -- Adamjee Insurance
Post by: naro on July 18, 2013, 06:19:22 PM
uuu
:good :thumbsup_anim: :shoaby:

 :dance   :dance     :dance    :dance     :dance       :dance      :dance        :dance
Title: Re: AICL -- Adamjee Insurance
Post by: zahidnch on July 19, 2013, 12:14:35 AM
uuu
:good :thumbsup_anim: :shoaby:

 :dance   :dance     :dance    :dance     :dance       :dance      :dance        :dance

uuu
:good :thumbsup_anim: :shoaby:

 :dance   :dance     :dance    :dance     :dance       :dance      :dance        :dance
:clap1: seniors say tp 120
Title: Re: AICL -- Adamjee Insurance
Post by: invincible on July 20, 2013, 06:25:10 PM
AQ:

Kindly give ur TP for this script (Short Term)

Regards,
Title: Re: AICL -- Adamjee Insurance
Post by: invincible on August 04, 2013, 11:13:21 PM
AQ:

Kindly give ur TP for this script (Short Term)

Regards,

Itna Sanata q hai bhai  :dunno:
Title: Re: AICL -- Adamjee Insurance
Post by: 007 on August 07, 2013, 07:37:39 PM
Chalaoooo AICL ko
Title: Re: AICL -- Adamjee Insurance
Post by: stockz_123 on August 23, 2013, 10:06:43 AM
Directors of Pakistan’s leading insurer, Adamjee insurance, are scheduled to meet on August 27, 2013 to approve 1H2013 accounts. We expect company to post EPS of Rs11.7 compared to EPS Rs3.4 in 1H2012. The result may be accompanied by cash dividend of Rs2-2.5 per share. Though, company’s core insurance business is still under recovery phase, growth in earnings is mainly linked to higher investment income which is supported by one time gain of Rs400mn (EPS impact Rs3.2) on sale of shares of Unilever Pakistan. Going forward, insurance business is likely to revive gradually on the back of improvement in the overall economy under the leadership of PML-N led business friendly govt. However, risk of higher claims in coming quarters cannot be ruled out due to recent floods in the country.

Since our last note on AICL dated March 22, 2013, the stock has rallied 21%. Based on the gain we have changed our stance to ‘Hold’ from ‘Buy’. We continue with our liking of the stock and advice accumulation on any decline.

2Q EPS estimated at to Rs6.0

The prevalent weaknesses in the economy had forced the company to adopt a conservative approach in its underwriting business. We do not expect recovery in this regard in 2Q either. However, we expect AICL to post 2.4x higher earnings of Rs1.4bn (EPS Rs11.7) in 1H2013 compared to Rs420 (EPS Rs3.4) in 1H2012 on the back of strong investment income.

We expect investment income to increase by 137% to Rs1.5bn during 1H2013. Strong investment income is mainly because of Unilever Pakistan buyback and delisting. We expect Rs400mn capital gain arising from sales of 34,456 shares at Rs15,000 per share price, which had a book value of Rs3,429 per share in its last annual report. For 2Q2013, we expect company to post earnings of Rs742mn (EPS Rs6.0) compared to Rs701 (EPS Rs5.7) in 1Q2013 and Rs127 (EPS Rs1.0) in 2Q2012.

Investment portfolio estimated at Rs151/share

Company maintains a diversified investment portfolio with major chunk of investments concentrated in equities. At present, estimated market value of the portfolio is Rs18.6bn (Rs151 per share). In the recent tough times for insurance business, dividend income and capital gain from the portfolio has been the major earning driver for AICL.

We expect revival in the economy during the tenure of business friendly govt of PML-N. As a result, AICL’s earning is likely to grow in coming years supported by underlying business and investment income.

 Recent floods: Not as severe as in past years

Recent monsoon season and summer ice melt has resulted into floods in rivers which has reportedly affected 300-400k lives in Pakistan. Until now, the flood has been categorized at low to medium level and the overall loss is much lower than last year.

We may not see sharp surge in insurance claims witnessed in 2012 due to low intensity/damage of the flood. However, any severity in the situation carries a threat of higher claims.

Topline Sec
Title: Re: AICL -- Adamjee Insurance
Post by: Hypnotized on August 27, 2013, 02:46:31 PM
25%(D)    EPS 12.21


http://www.kse.com.pk/notices-updates/detail2.php?0.2837255452759564&id=4&nid=045962
Title: Re: AICL -- Adamjee Insurance
Post by: wiseman on August 27, 2013, 03:22:29 PM
Why is AICL on lower lock after declaration of results according to expectation?

Title: Re: AICL -- Adamjee Insurance
Post by: 007 on August 27, 2013, 05:33:26 PM
bauhat na insafi hai aicl ka lower lock
Title: Re: AICL -- Adamjee Insurance
Post by: sumbul on August 27, 2013, 05:43:42 PM
bauhat na insafi hai aicl ka lower lock

na insafi kya yeah tou khula tazaad hey  :bangin:
Title: Re: AICL -- Adamjee Insurance
Post by: Abdul Qadir on August 27, 2013, 06:13:52 PM
Investment income done the trick , core operations are in Loss ...... :D
Title: Re: AICL -- Adamjee Insurance
Post by: SBM on August 27, 2013, 06:45:16 PM
Investment income done the trick , core operations are in Loss ...... :D

comparatively, agic and atil have  amazing core operations
Title: Re: AICL -- Adamjee Insurance
Post by: Hypnotized on August 27, 2013, 08:16:00 PM
Investment income done the trick , core operations are in Loss ...... :D

comparatively, agic and atil have  amazing core operations

If core operations are in loss, is it unlikely for Aicl to go beyond 120 in medium term? Should people book profits when it's in mid 90's?

Title: Re: AICL -- Adamjee Insurance
Post by: Abdul Qadir on August 27, 2013, 08:18:34 PM
Investment income done the trick , core operations are in Loss ...... :D

comparatively, agic and atil have  amazing core operations

Yes both of these companies are doing well as compared to big giants.... :D
Title: Re: AICL -- Adamjee Insurance
Post by: sumbul on August 27, 2013, 11:04:26 PM
Investment income done the trick , core operations are in Loss ...... :D

comparatively, agic and atil have  amazing core operations

If core operations are in loss, is it unlikely for Aicl to go beyond 120 in medium term? Should people book profits when it's in mid 90's?

Very good observations by all members  :good
Title: Re: AICL -- Adamjee Insurance
Post by: SBM on August 28, 2013, 07:24:58 PM
AICL: earnings jump, share price plumps (http://www.brecorder.com/br-research/999:all/3625:aicl-earnings-jump-share-price-plumps/?date=2013-08-28)
Title: Re: AICL -- Adamjee Insurance
Post by: 007 on August 28, 2013, 08:49:19 PM
AICL: earnings jump, share price plumps (http://www.brecorder.com/br-research/999:all/3625:aicl-earnings-jump-share-price-plumps/?date=2013-08-28)

plumps nahin slumps hona chaiye
Title: Re: AICL -- Adamjee Insurance
Post by: Salammembers on September 04, 2013, 10:03:23 AM
Tech Guru ki help khappay,
kia 77-80 range maay sell and 74-77 ki range maay buyback sahee strategy hay?
Title: Re: AICL -- Adamjee Insurance
Post by: Salammembers on September 04, 2013, 12:04:04 PM
Mansha scrips recovering so aicl may also reverse or stablise around 75
Title: Re: AICL -- Adamjee Insurance
Post by: Salammembers on September 11, 2013, 01:48:06 PM
looking good since friday,
Tech Guru help khappay for members,
i have already bought back 50% maal sold around 90
Title: Re: AICL -- Adamjee Insurance
Post by: Salammembers on September 12, 2013, 01:21:25 PM
looking good since friday,
Tech Guru help khappay for members,
i have already bought back 50% maal sold around 90
     achaay hakeem koo ecg nahi sirf  pulse khappaay :tongue:  laoo maal aicl  :dance :dance :dance
Title: Re: AICL -- Adamjee Insurance
Post by: 007 on September 15, 2013, 11:09:24 PM
bot some on firday  :(
Title: Re: AICL -- Adamjee Insurance
Post by: Salammembers on September 16, 2013, 01:11:19 AM
bot some on firday  :(
   lets c kitna girta haay but I am not selling tomorrow  to buy back at lower rates
Title: Re: AICL -- Adamjee Insurance
Post by: rashi on September 17, 2013, 07:45:03 PM
will it come down again to 75 or may towards 70
Title: Re: AICL -- Adamjee Insurance
Post by: aliraza on September 17, 2013, 08:07:20 PM
will it come down again to 75 or may towards 70

bhai above 90 hone ke bat karoo soon ap nr 70 dahk rahee hoo dahka haa kay hota haa
Title: Re: AICL -- Adamjee Insurance
Post by: MZ on September 17, 2013, 08:17:28 PM
will it come down again to 75 or may towards 70

75 looks possible .
Title: Re: AICL -- Adamjee Insurance
Post by: 007 on September 18, 2013, 02:01:24 AM
Sold AICL at a little loss  :(
Title: Re: AICL -- Adamjee Insurance
Post by: Salammembers on September 18, 2013, 02:54:05 AM
decided to go long in aicl due to mansha factor and Q2 impressive eps
Title: Re: AICL -- Adamjee Insurance
Post by: Salammembers on September 20, 2013, 11:21:59 AM
decided to go long in aicl due to mansha factor and Q2 impressive eps

30% offloaded around 85 ,will re-enter agar naichaay aayaa
Title: Re: AICL -- Adamjee Insurance
Post by: rashi on September 20, 2013, 12:39:01 PM
Qadir bhi, plz guide me , can this rally take aicl to 90 or should i offload it near 85
Title: Re: AICL -- Adamjee Insurance
Post by: Salammembers on September 20, 2013, 06:23:54 PM
decided to go long in aicl due to mansha factor and Q2 impressive eps

30% offloaded around 85 ,will re-enter agar naichaay aayaa
    end maay maal wapis uthaa lia    :rtfm:
Title: Re: AICL -- Adamjee Insurance
Post by: 007 on September 20, 2013, 06:26:08 PM
decided to go long in aicl due to mansha factor and Q2 impressive eps

30% offloaded around 85 ,will re-enter agar naichaay aayaa
    end maay maal wapis uthaa lia    :rtfm:

igiil is better
Title: Re: AICL -- Adamjee Insurance
Post by: aliraza on September 20, 2013, 07:54:44 PM
aicl aj 2rs above plus saa vapis aj kuch samj nahee i
Title: Re: AICL -- Adamjee Insurance
Post by: ali101 on September 21, 2013, 01:21:35 AM
aicl aj 2rs above plus saa vapis aj kuch samj nahee i

jo samaj nah aya usko hi kse bolta haan dude
Title: Re: AICL -- Adamjee Insurance
Post by: aliraza on September 21, 2013, 02:49:04 PM
aicl aj 2rs above plus saa vapis aj kuch samj nahee i

jo samaj nah aya usko hi kse bolta haan dude

monday ko ek cap to banta haaa
Title: Re: AICL -- Adamjee Insurance
Post by: MZ on October 23, 2013, 12:57:57 PM
Board Meetings (http://www.kse.com.pk/notices-updates/detail2.php?0.4846699277404696&id=4&nid=047903)
Title: Re: AICL -- Adamjee Insurance
Post by: MZ on October 31, 2013, 08:36:47 AM

AICL: core business warrants attentionAdamjee Insurance almost doubled its net profits in nine months of this year, compared to the previous year taking the tally to Rs1,743 million (EPS: Rs14.07). The jump is attributed to one time capital gains of Rs400 million (EPS impact: Rs3.2) on sale of shares of Unilever Pakistan.

That is why its investment income increased by 2.6 times to stand at Rs2,035 million in 9M CY13. But that transaction took place in the first quarter and ever since then nothing is in offing to shine the insurance giant. The third quarter cut a sorry figure on the performance of the company--as its bottom line slashed to almost; Rs227 million (EPS: Rs1.83) compared to the corresponding period, a year ago.

Although net premiums exhibited steady decent growth of 27 percent in the third quarter, the toll of heavy claims bowed profitability down significantly--net claims soared by 47 percent in the third quarter, and that broke the streak of declining claims in the first two quarters of this year.

Higher claims in fire and property damages relative to premiums earned from the same business offset the gains from the motor segment. The underwriting results in the third quarter are well in the red as compared to hefty profits of Rs200 million in the similar period of last year. And it faded the gains of the previous two quarters as underwriting income shrank to Rs79 million for 9M CY13. Still its much better than a meagre Rs12 million in the corresponding period of last year.

The company has to watch its administrative expenses given the slow growing economy, to keep its bottom line shielded. Going forward chances of economic activities picking up under this government are fair, as is AICLs chance to boost profitability in its core business.
Title: Re: AICL -- Adamjee Insurance
Post by: pieyomie on November 06, 2013, 11:28:01 AM
Dividend received
Title: Re: AICL -- Adamjee Insurance
Post by: rashi on November 09, 2013, 08:16:32 PM
i hav not yet received my divident,neither in my account nor by post
can any one please guide me how could i enquiry about this issue, 18k divident it was,
Title: Re: AICL -- Adamjee Insurance
Post by: SBM on November 09, 2013, 11:03:41 PM
i hav not yet received my divident,neither in my account nor by post
can any one please guide me how could i enquiry about this issue, 18k divident it was,

Share registrar of aicl
M/s. Technology Trade (Pvt) Ltd.
Dagia House, 241-C, Block-2, PECHS, Karachi. 
Tel +92.21 3439 1316-7 & 19, 3438 7960-1| Fax +92.21 3439 1318 |
Title: Re: AICL -- Adamjee Insurance
Post by: Salammembers on November 11, 2013, 12:44:33 AM
Bond bro, kia wednesday taak 82 tooraay ga?
Title: Re: AICL -- Adamjee Insurance
Post by: kashif.ak on November 11, 2013, 01:30:04 AM
I have holding at 92.
Should book loss or wait and what should be the target and time frame? thanks
Title: Re: AICL -- Adamjee Insurance
Post by: Salammembers on November 11, 2013, 02:36:28 AM
I dont sell quality blue chip at a loss, I will hold it and keep enjoying div and B for next 2-3 yrs  :rtfm: B possible with annual result and mkt price of 100 also possible around that time
Title: Re: AICL -- Adamjee Insurance
Post by: hasan on November 11, 2013, 02:46:51 AM
when is the full year result expected ?
Title: Re: AICL -- Adamjee Insurance
Post by: Salammembers on November 11, 2013, 03:17:49 AM
when is the full year result expected ?
   march 2014
Title: Re: AICL -- Adamjee Insurance
Post by: Salammembers on November 11, 2013, 03:13:00 PM
I dont sell quality blue chip at a loss, I will hold it and keep enjoying div and B for next 2-3 yrs  :rtfm: B possible with annual result and mkt price of 100 also possible around that time
    jackpot  :dance :dance :dance :dance :dance :dance :dance :dance :dance :dance :dance
Title: Re: AICL -- Adamjee Insurance
Post by: SBM on November 11, 2013, 03:19:20 PM
http://www.kse.com.pk/notices-updates/detail2.php?id=4&nid=048808&pagesize=1&pageno=5

bonus of 1.892 shares for every 1 share held to meet regulatory requirement for operating in UAE
Title: Re: AICL -- Adamjee Insurance
Post by: kashif.ak on November 11, 2013, 08:21:35 PM
Hi i have 25000 shares of aicl at 92.
I just received dividend couple of days back.
Can you please explain this bonus share issue.
how does this work? regards  Kashif
Title: Re: AICL -- Adamjee Insurance
Post by: Dehan on November 11, 2013, 08:24:10 PM
Hi i have 25000 shares of aicl at 92.
I just received dividend couple of days back.
Can you please explain this bonus share issue.
how does this work? regards  Kashif

If u will have aicl shares in ur account on 11-12-13 u will b entitled for the bonus.
Title: Re: AICL -- Adamjee Insurance
Post by: kashif.ak on November 11, 2013, 08:27:19 PM
Yes I'm holding. does that mean i will get more than double shares as it states 1.8 ratio. like i will get more than 40,000 bonus shares?
and will they be of the same rate? thanks
Title: Re: AICL -- Adamjee Insurance
Post by: kashif.ak on November 11, 2013, 08:29:20 PM
I dont sell quality blue chip at a loss, I will hold it and keep enjoying div and B for next 2-3 yrs  :rtfm: B possible with annual result and mkt price of 100 also possible around that time
    jackpot  :dance :dance :dance :dance :dance :dance :dance :dance :dance :dance :dance

Hi can you please explain my situation? thank you for your prompt replies.
Title: Re: AICL -- Adamjee Insurance
Post by: Dehan on November 11, 2013, 08:42:07 PM
Yes I'm holding. does that mean i will get more than double shares as it states 1.8 ratio. like i will get more than 40,000 bonus shares?
and will they be of the same rate? thanks

Yes I'm holding. does that mean i will get more than double shares as it states 1.8 ratio. like i will get more than 40,000 bonus shares?
and will they be of the same rate? thanks

Against 25,000 shares u will get 45,733 bonus shares. Then u will have total holding os 70,733 shares (25,000+ 45.733). The price of aicl X price of Aicl will b determined as folows:

Closing Price on 11-12-13 divided by 2.82932212.

Title: Re: AICL -- Adamjee Insurance
Post by: kashif.ak on November 11, 2013, 09:16:01 PM
Yes I'm holding. does that mean i will get more than double shares as it states 1.8 ratio. like i will get more than 40,000 bonus shares?
and will they be of the same rate? thanks

Yes I'm holding. does that mean i will get more than double shares as it states 1.8 ratio. like i will get more than 40,000 bonus shares?
and will they be of the same rate? thanks

Against 25,000 shares u will get 45,733 bonus shares. Then u will have total holding os 70,733 shares (25,000+ 45.733). The price of aicl X price of Aicl will b determined as folows:

Closing Price on 11-12-13 divided by 2.82932212.
  Thank you for explaining so nicely. Just one more thing. Where do see the price of aicl going before bonus issue and second once bonus is issued and x price is set. then one should sell immediately or hold for a longer period? thanks
Title: Re: AICL -- Adamjee Insurance
Post by: phaze on November 11, 2013, 10:31:38 PM
Hello Hi.

Closing Price on 11-12-13 divided by 2.82932212.

How it come 2.82932212.

Thanks.
Title: Re: AICL -- Adamjee Insurance
Post by: SBM on November 11, 2013, 10:43:18 PM
Hello Hi.

Closing Price on 11-12-13 divided by 2.82932212.

How it come 2.82932212.

Thanks.

it should be closing price dividend by 1.82 not 2.82
Title: Re: AICL -- Adamjee Insurance
Post by: kashif.ak on November 11, 2013, 10:50:57 PM
Hello Hi.

Closing Price on 11-12-13 divided by 2.82932212.

How it come 2.82932212.

Thanks.


it should be closing price dividend by 1.82 not 2.82
1.82 is correct?
Title: Re: AICL -- Adamjee Insurance
Post by: Dehan on November 11, 2013, 10:55:50 PM
Hello Hi.

Closing Price on 11-12-13 divided by 2.82932212.

How it come 2.82932212.

Thanks.

it should be closing price dividend by 1.82 not 2.82

2.82932212 = 1+ 1.82932212

1 is the share against which u will get 1.82932212 bonus shares. So after X date u will have 2.82932212 shares. So divide the closing price of before X of one share with the total No of shares.
Title: Re: AICL -- Adamjee Insurance
Post by: Salammembers on November 12, 2013, 12:44:12 AM
Ul kaha tootaay Ga? Dont sell below 120 -eat Bonus,  around 130 might sell 30% , at 135 might sell another 20% , above 140 -75% sold , above 150 - total exit possible , aab gurus ki advice khappay :rtfm:
Title: Re: AICL -- Adamjee Insurance
Post by: SBM on November 12, 2013, 10:23:58 AM
yes divided by 2.82, not 1.82. sorry
 :$:
Title: Re: AICL -- Adamjee Insurance
Post by: Salammembers on November 16, 2013, 11:26:25 PM
Ul kaha tootaay Ga? Dont sell below 120 -eat Bonus,  around 130 might sell 30% , at 135 might sell another 20% , above 140 -75% sold , above 150 - total exit possible , aab gurus ki advice khappay :rtfm:

i will eat B below 120 :rtfm:
Title: Re: AICL -- Adamjee Insurance
Post by: daniyal on November 16, 2013, 11:30:38 PM
Yar is ko buy krne ka to tareeqa btao.. market open hote hi cap ho jata hai?
Title: Re: AICL -- Adamjee Insurance
Post by: Dehan on November 16, 2013, 11:35:23 PM
Ul kaha tootaay Ga? Dont sell below 120 -eat Bonus,  around 130 might sell 30% , at 135 might sell another 20% , above 140 -75% sold , above 150 - total exit possible , aab gurus ki advice khappay :rtfm:

i will eat B below 120 :rtfm:

One should remember that price of a share is always based on Future Earnings. Bonus is a one time trigger. So keep an eye on its future earning to go long in this share.
Title: Re: AICL -- Adamjee Insurance
Post by: Dehan on November 16, 2013, 11:38:33 PM
Yar is ko buy krne ka to tareeqa btao.. market open hote hi cap ho jata hai?

Milay ga bohat milla ga per apnein wakat pa.
Title: Re: AICL -- Adamjee Insurance
Post by: daniyal on November 16, 2013, 11:41:07 PM
is ka waqt to ab 120 ke bad ka hi lag raha hai :down:
Title: Re: AICL -- Adamjee Insurance
Post by: Abdul Qadir on November 16, 2013, 11:45:04 PM
Ul kaha tootaay Ga? Dont sell below 120 -eat Bonus,  around 130 might sell 30% , at 135 might sell another 20% , above 140 -75% sold , above 150 - total exit possible , aab gurus ki advice khappay :rtfm:

i will eat B below 120 :rtfm:

One should remember that price of a share is always based on Future Earnings. Bonus is a one time trigger. So keep an eye on its future earning to go long in this share.


insurance sector companies in Pakistan never be measured on future growth of earnings , they are mostly valued based on their investment portfolio . AICL , EFUG and IGIIL all of them have core operations at break even. Its the investment income deriving the earnings.
Title: Re: AICL -- Adamjee Insurance
Post by: Dehan on November 16, 2013, 11:54:13 PM
Ul kaha tootaay Ga? Dont sell below 120 -eat Bonus,  around 130 might sell 30% , at 135 might sell another 20% , above 140 -75% sold , above 150 - total exit possible , aab gurus ki advice khappay :rtfm:

i will eat B below 120 :rtfm:

One should remember that price of a share is always based on Future Earnings. Bonus is a one time trigger. So keep an eye on its future earning to go long in this share.


insurance sector companies in Pakistan never be measured on future growth of earnings , they are mostly valued based on their investment portfolio . AICL , EFUG and IGIIL all of them have core operations at break even. Its the investment income deriving the earnings.

AQ bhai thats true:

I am also taking about Future Earning which is inclusive of investment income. After bonus the paid up capital will increase by 1.83% as such it will effect the EPS of the company. One should  take into account that aspect. As such  after X the price will not return to previous level i.e before the announcement of bonus. Most of our new investors don't count this aspect.
Title: Re: AICL -- Adamjee Insurance
Post by: Salammembers on November 17, 2013, 01:08:37 AM
mansha group cos r expected to prosper further under the current Govt and chances of NS continuing as PM
for another term appear realistic.
Connection`s help Globally and bring extraordinary Rewards in third world countries like pakistan.
I dont c aicl share price trading below 30 after going xb , between 34-38 possible and c it heading towards 45-50
near year end result when i intend to exit if aicl fails to break 120 before going xb.
Title: Re: AICL -- Adamjee Insurance
Post by: Salammembers on November 17, 2013, 02:32:17 AM
mansha group cos r expected to prosper further under the current Govt and chances of NS continuing as PM
for another term appear realistic.
Connection`s help Globally and bring extraordinary Rewards in third world countries like pakistan.
I dont c aicl share price trading below 30 after going xb , between 34-38 possible and c it heading towards 45-50
near year end result when i intend to exit if aicl fails to break 120 before going xb.

JSGF-top holding aicl
jsvf-aicl within top 10 holding
js large capital -aicl within top 10 holding
js pension saving fund -aicl within top 10 holding
js aggressive allocation fund-third largest holding-aicl

aab tu js k saath hee sell karaay Gaay :tongue:
Title: Re: AICL -- Adamjee Insurance
Post by: daniyal on November 17, 2013, 02:34:19 AM
I just need guidance that I want to invest in this share? Should I buy now or wait for ex? I am not that much interested in Bonus but I want to know which would be more viable?
Title: Re: AICL -- Adamjee Insurance
Post by: Salammembers on November 17, 2013, 02:59:04 AM
I just need guidance that I want to invest in this share? Should I buy now or wait for ex? I am not that much interested in Bonus but I want to know which would be more viable?

new/fresh entry not advised,
those holding aicl need to plan Smart exit
and thats what i am trying 2 do,
pl ignore aicl completely until year end figures available
regards salam

Title: Re: AICL -- Adamjee Insurance
Post by: daniyal on November 18, 2013, 02:33:59 AM
I heard the rumor that it will hit 17 more caps till Dec 11 without any share being available to public. Is it possible?
i don't think so. this would make this share price over 200 before ex
Title: Re: AICL -- Adamjee Insurance
Post by: asim.786 on November 18, 2013, 02:37:07 AM
I heard the rumor that it will hit 17 more caps till Dec 11 without any share being available to public. Is it possible?
i don't think so. this would make this share price over 200 before ex

Maximum 3-4 lock more expected not more than that. It maximum range 110-115. So avoid new comers at this stage
Title: Re: AICL -- Adamjee Insurance
Post by: daniyal on November 18, 2013, 02:43:10 AM
Sir, suppose if its gets more upper locks then it will be able for general public to grab it?
I mean in KSE is there any incident which make a scrip to hit 20 upper locks in a row without a transaction?
Title: Re: AICL -- Adamjee Insurance
Post by: Salammembers on November 18, 2013, 03:16:15 AM
I heard the rumor that it will hit 17 more caps till Dec 11 without any share being available to public. Is it possible?
i don't think so. this would make this share price over 200 before ex

possible,
post announcement jackpot issi liay likha tha  :rtfm:,
js funds heavy investment in aicl suggest atleast 140 cross hoo Ga,
lets c what happens next week because this week lock totna unlikely
Title: Re: AICL -- Adamjee Insurance
Post by: SBM on November 19, 2013, 12:20:55 PM
Adamjee: Bonus gains/Cut to 'Hold'

(November 19, 2013)
 
On Nov 11, 2013, AICL pleasantly surprised investors by announcing 183% bonus shares/stock dividend. As a result, insurer's paid-up capital will increase to Rs3.5bn from Rs1.24bn at present. Stock gained 56.2% since Nov 2012 and yielded 50% return in 2013YTD, outperforming benchmark KSE100 Index by 10%. Recent bonus issue is not a change in company's payout pattern but a regulatory requirement to meet minimum capital requirement in UAE.
For 2013, we expect AICL to post two-fold higher EPS of Rs16.1 compared to Rs5.05 in last year. However, considering the recent performance at KSE, we downgrade AICL to 'Hold' from our previous 'Buy' stance. We maintain our target price at Rs102 per share.

Regulatory changes in UAE
AICL has scheduled an EOGM (Extraordinary General Meeting) of shareholders on Dec 18, 2013 to approve as increase in paid-up capital from Rs1.24bn to Rs3.5bn by 183% bonus dividend. The bonus does not portray any change in company's payout pattern and is solely a one-time event to meet minimum capital requirement.
To recall, AICL is fairly capitalized when it comes to regulations in Pakistan. However, UAE Insurance Authority increased minimum paid-up requirement to AED 100mn for the insurance companies operating in UAE. At present, AICL has two branches in UAE (Dubai & Abu Dhabi). We believe that the current bonus issue will help company to continue its foreign operations smoothly at a time when underwriting business is not doing so well in Pakistan.
Investment portfolio estimated at Rs151/share
Major attraction of the stock comes from its diversified investment portfolio whose major chunk is concentrated in equities. In recent tough times for insurance business, dividend income and capital gain from the portfolio has been the major earning driver for AICL.
At present, estimated market value of the portfolio is Rs18.7bn (Rs151 per share). However, after assigning 40% discount to the portfolio, we value the portfolio at Rs102 per share. Our 40% portfolio discount if based on a study on 13 sample companies. We see that market is now assigning an average discount of 40% to portfolio valuation.
AICL: 2013 EPS Rs16.1, TP Rs102

The prevalent weaknesses in the economy had forced the company to adopt a conservative approach in its underwriting business. As a result, we expect the insurer to break-even on its underwriting business compared to underwriting loss of Rs412mn in 2012. However, we highlight strong investment income as a main thrust to the two-fold improvement in the bottom line. In 2013, we expect 78% higher investment income to Rs2.4bn. Though booming stock market also contributed, Unilever Pakistan buyback resulted in capital gain of Rs400mn in 2013.

For coming years, we expect revival in the economy during the tenure of business friendly govt of PML-N. As a result, AICL's earnings from underwriting business are likely to grow in coming years. We expect AICL to post EPS of Rs16.1 in 2013 (183% bonus diluted EPS Rs5.7), Rs12.0 in 2014 (Diluted Rs4.2) compared to Rs5.0 (Diluted Rs1.8) in 2012. At present, we maintain our target price of Rs102 which will be diluted to Rs36 after bonus issue.
 
 
Topline
Title: Re: AICL -- Adamjee Insurance
Post by: Salammembers on November 20, 2013, 02:01:23 AM
topline Reputation on stake? from today as aicl will achieve its(topline) TP on wednesday with another
solid UL
Title: Re: AICL -- Adamjee Insurance
Post by: daniyal on November 20, 2013, 05:16:33 AM
topline Reputation on stake? from today as aicl will achieve its(topline) TP on wednesday with another
solid UL

Bro these research houses have no prestige and credibility. If stock keeps going up they keep changing their TP.
6 months back every house gave TP of Engro Dec 13 of 200-220
Last year when lucky cement was traded at 110 every house gave TP of 140 of year end after few weeks they changed it to 194, 240 and so on. There are several examples like that. I never believe these reports. It can only give initial overview.   
Title: Re: AICL -- Adamjee Insurance
Post by: Salammembers on November 20, 2013, 09:56:40 AM
topline Reputation on stake? from today as aicl will achieve its(topline) TP on wednesday with another
solid UL
thanks 2 topline Sharamnaak aicl report junta phir lutt gaayaee ?
Title: Re: AICL -- Adamjee Insurance
Post by: MZ on November 20, 2013, 10:28:30 AM
Aaj ge Bhar kar buy kr lo AICL.
Title: Re: AICL -- Adamjee Insurance
Post by: Ali135 on November 20, 2013, 10:40:17 AM
Aaj ge Bhar kar buy kr lo AICL.

MZ BRO  u r giving a buy call for AICL??????
Title: Re: AICL -- Adamjee Insurance
Post by: MZ on November 20, 2013, 10:53:58 AM
Aaj ge Bhar kar buy kr lo AICL.

MZ BRO  u r giving a buy call for AICL??????

yes i had already mentioned at this forum, it wil give a chance.
Title: Re: AICL -- Adamjee Insurance
Post by: Ali135 on November 20, 2013, 10:55:13 AM
Aaj ge Bhar kar buy kr lo AICL.

MZ BRO  u r giving a buy call for AICL??????

yes i had already mentioned at this forum, it wil give a chance.

 :biggthumpup: im still holding
Title: Re: AICL -- Adamjee Insurance
Post by: MZ on November 20, 2013, 11:01:18 AM
Aaj ge Bhar kar buy kr lo AICL.

MZ BRO  u r giving a buy call for AICL??????

yes i had already mentioned at this forum, it wil give a chance.

 :biggthumpup: im still holding

hold tight then
Title: Re: AICL -- Adamjee Insurance
Post by: SBM on November 20, 2013, 12:08:33 PM
§        We raise our 2013E earning estimate for Adamjee Insurance Company Limited (AICL) to Rs16.38 per share from Rs15.42 per share on the back of higher than expected 9M2013 investment income (gains from sale of investment and dividend from associates),
§        Although core business reported losses in 3Q2013 which we anticipate to recover (albeit slowly) in 4Q2013, higher investment income (once again) is likely to be the savior again in 4Q2013.
§        We raise our Target Price to Rs102 from Rs93 earlier. However, following the recent surge is AICL’s stock price due to the announcement of 183% bonus issue, we downgrade AICL by one notch to ‘Hold’ from ‘Buy’ earlier

Js global
Title: Re: AICL -- Adamjee Insurance
Post by: Salammembers on November 20, 2013, 03:29:15 PM
Jaab Dgkc aur nml ka laga tarka  tu aicl koo b laga Jhatka :confused1:
Title: Re: AICL -- Adamjee Insurance
Post by: Zedenc on November 20, 2013, 06:22:34 PM
Aaj ge Bhar kar buy kr lo AICL.

MZ BRO  u r giving a buy call for AICL??????

yes i had already mentioned at this forum, it wil give a chance.

 :biggthumpup: im still holding

hold tight then
TPs of AICL assessed by various expert research houses is currently confusing small / new investors, because they differ from one another with a big gap (i.e. 102,...110-115,..120,...140...some say 200) ...JS narated today..., "We raise our Target Price to Rs102 from Rs93 earlier. However, following the recent surge is AICL’s stock price due to the announcement of 183% bonus issue, we downgrade AICL by one notch to ‘Hold’ from ‘Buy’ earlier"-Js global.
Title: Re: AICL -- Adamjee Insurance
Post by: Salammembers on November 23, 2013, 12:44:48 PM
Apna minimum tgt still 115 + before 12th December
Title: Re: AICL -- Adamjee Insurance
Post by: randhawa on November 23, 2013, 03:44:01 PM
ky a monday kay cap lug sakta hai
Title: Re: AICL -- Adamjee Insurance
Post by: phaze on November 26, 2013, 05:16:05 PM
i have aicl shares... 10K it will go up ??? i have cash aicl... but in future aicl-dec its price is 38 how they calculate 38. so is there formula that can show how much it will go up
Title: Re: AICL -- Adamjee Insurance
Post by: daniyal on November 26, 2013, 05:28:19 PM
i have aicl shares... 10K it will go up ??? i have cash aicl... but in future aicl-dec its price is 38 how they calculate 38. so is there formula that can show how much it will go up
AICL closing price divided by 1+1.83 = AICL ex price
For example => 106/2.83= 37.45
Title: Re: AICL -- Adamjee Insurance
Post by: Salammembers on November 28, 2013, 11:10:46 PM
Koi aicl ka portfolio share karaay ga? Remember  SBM doing total value calculation few months ago
Title: Re: AICL -- Adamjee Insurance
Post by: SBM on November 29, 2013, 11:14:14 AM
Koi aicl ka portfolio share karaay ga? Remember  SBM doing total value calculation few months ago

https://docs.google.com/spreadsheet/ccc?key=0AmlE8H4YKpKTdHd4eDVoVXhqd3I1MEZDZjg1TzIwVnc&usp=sharing

as at 31 march i think. adj prices accordingly .
Title: Re: AICL -- Adamjee Insurance
Post by: randhawa on November 29, 2013, 10:45:04 PM
Bhayo wat d u think TP before ex bonus?
Title: Re: AICL -- Adamjee Insurance
Post by: Salammembers on November 30, 2013, 12:15:49 AM
Bhayo wat d u think TP before ex bonus?

i am not selling at current rate,
waiting  for final tezi Round but if range bound pattern continues tu 8th december k baad
hee exit decision hoo Ga
Title: Re: AICL -- Adamjee Insurance
Post by: 007 on November 30, 2013, 01:51:51 AM
aicl ki batain to 120 ki thee  :thumbsdown_anim:
Title: Re: AICL -- Adamjee Insurance
Post by: SBM on November 30, 2013, 02:13:28 AM
http://tribune.com.pk/story/638949/price-manipulation-big-insurance-company-being-investigated-for-insider-trading/

lol!
Title: Re: AICL -- Adamjee Insurance
Post by: Salammembers on November 30, 2013, 02:19:35 AM
aicl ki batain to 120 ki thee  :thumbsdown_anim:
   still unsure about selling below 115-120  :confused1:
Title: Re: AICL -- Adamjee Insurance
Post by: 007 on November 30, 2013, 03:13:36 AM
http://tribune.com.pk/story/638949/price-manipulation-big-insurance-company-being-investigated-for-insider-trading/

lol!

I doubt secp will do anything mansha and broker community too strong

the will get a clean bill of health
Title: Re: AICL -- Adamjee Insurance
Post by: Ali135 on December 03, 2013, 09:47:49 PM
RIP ho gaya lagta hai AICL b........  :skeptic:
Title: Re: AICL -- Adamjee Insurance
Post by: Farzooq on December 03, 2013, 09:55:48 PM
Aicl Spot from 5-10th dec
Title: Re: AICL -- Adamjee Insurance
Post by: MZ on December 03, 2013, 10:34:41 PM
Aicl Spot from 5-10th dec

Bhai how you see the performance of AICL in spot period?
Title: Re: AICL -- Adamjee Insurance
Post by: sanwar on December 04, 2013, 09:28:19 AM
Aicl Spot from 5-10th dec

Wasn't that 12-18th December...??
Title: Re: AICL -- Adamjee Insurance
Post by: Zedenc on December 04, 2013, 04:00:02 PM
Aicl Spot from 5-10th dec

Wasn't that 12-18th December...??
@Sanwar bhai, 12-18th December..is books closure period...where as AICL remains Spot from 5-10th dec
Title: Re: AICL -- Adamjee Insurance
Post by: Super on December 06, 2013, 01:02:38 PM
AICL-DEC future mai delivery leni chahiye?
Title: Re: AICL -- Adamjee Insurance
Post by: Ali on December 06, 2013, 01:42:57 PM
Ready main laiyna chahiye
Title: Re: AICL -- Adamjee Insurance
Post by: Ali on December 06, 2013, 03:55:30 PM
Purchase AICL as much as u can...
seems upper lock
Till Tuesday 110... :clap1: :clap1: :clap1: :clap1: :clap1:
Title: Re: AICL -- Adamjee Insurance
Post by: 007 on December 06, 2013, 03:56:41 PM
Purchase AICL as much as u can...
seems upper lock
Till Tuesday 110... :clap1: :clap1: :clap1: :clap1: :clap1:

still have the same conviction
Title: Re: AICL -- Adamjee Insurance
Post by: Ali on December 06, 2013, 08:14:19 PM
Purchase AICL as much as u can...
seems upper lock
Till Tuesday 110... :clap1: :clap1: :clap1: :clap1: :clap1:

still have the same conviction

Wths members says about aicl?
Title: Re: AICL -- Adamjee Insurance
Post by: tahirdxb on December 06, 2013, 09:13:52 PM
Monday say AICL Laoooooooooooo Cap-o-Cap  ;)
Title: Re: AICL -- Adamjee Insurance
Post by: Super on December 06, 2013, 11:26:48 PM
Ready main laiyna chahiye

Spot pe buy karne par bonus milay ga?
Title: Re: AICL -- Adamjee Insurance
Post by: Ali on December 06, 2013, 11:39:37 PM
yes
Title: Re: AICL -- Adamjee Insurance
Post by: Ali135 on December 07, 2013, 08:07:06 PM
x k bad kya dehan hai aicl ka seniors???


farzooq bhai plz guide... im holding aicl rit now.
Title: Re: AICL -- Adamjee Insurance
Post by: Salammembers on December 08, 2013, 09:23:47 AM
x k bad kya dehan hai aicl ka seniors???


farzooq bhai plz guide... im holding aicl rit now.
  I think js funds and jsgcl will eat B but for junta exit above 104 bei ng adviced by brokers . M y own broker is going to eat bonus because uss koo aicl below 40 bura nahi lagta while others r planning 2 re-enter aicl in 32-34 range.
Title: Re: AICL -- Adamjee Insurance
Post by: aalam on December 08, 2013, 10:19:36 AM
182% bonous day kr b 105 say ooper nai jaa ska?? pakri wala scene lagta hay
Title: Re: AICL -- Adamjee Insurance
Post by: Ali on December 08, 2013, 10:42:24 AM
Monday will be the critical day for AICL.
Decent trading was done on Friday. Approx 4.5 million shares traded.
Looking Good. Till 10:30 we will get the right picture.
Title: Re: AICL -- Adamjee Insurance
Post by: DEVDAS on December 08, 2013, 03:08:43 PM
Monday will be the critical day for AICL.
Decent trading was done on Friday. Approx 4.5 million shares traded.
Looking Good. Till 10:30 we will get the right picture.
even if it does not go up in spot it will run back after x-bonus. 20 to 30 rupee s quite possible.
Title: Re: AICL -- Adamjee Insurance
Post by: Ali135 on December 08, 2013, 04:32:06 PM
Monday will be the critical day for AICL.
Decent trading was done on Friday. Approx 4.5 million shares traded.
Looking Good. Till 10:30 we will get the right picture.
even if it does not go up in spot it will run back after x-bonus. 20 to 30 rupee s quite possible.

20 to 30 rupees??? u r talking abt upto 55 to 65 rs rally after x???? ...........  :ohmy:
Title: Re: AICL -- Adamjee Insurance
Post by: Ali on December 08, 2013, 05:12:17 PM
Dua karo ex honay sai penly hi 110 cross kare...
Title: Re: AICL -- Adamjee Insurance
Post by: umer on December 08, 2013, 05:51:48 PM
Monday will be the critical day for AICL.
Decent trading was done on Friday. Approx 4.5 million shares traded.
Looking Good. Till 10:30 we will get the right picture.
even if it does not go up in spot it will run back after x-bonus. 20 to 30 rupee s quite possible.
20 to 30 rs nhe brother I think we should think for a big flight but it needs patience one should buy after x and give it time from 6 months to even 1 year for a nicest rate to see towards 85 + if I am not wrong
Title: Re: AICL -- Adamjee Insurance
Post by: aalam on December 08, 2013, 06:10:11 PM
pakri wala scene ho ga :crying_anim02:
Title: Re: AICL -- Adamjee Insurance
Post by: Salammembers on December 08, 2013, 06:55:17 PM
pakri wala scene ho ga :crying_anim02:
  Allah karaay u r proved right but aicl isnt pakri and pakri ka personal chokidar koi nahi tha and joo thaay they cannot b compared wirh mansha plus reason for aicl Big B is different :rtfm:
Title: Re: AICL -- Adamjee Insurance
Post by: Ali135 on December 08, 2013, 07:47:59 PM
Monday will be the critical day for AICL.
Decent trading was done on Friday. Approx 4.5 million shares traded.
Looking Good. Till 10:30 we will get the right picture.
even if it does not go up in spot it will run back after x-bonus. 20 to 30 rupee s quite possible.
20 to 30 rs nhe brother I think we should think for a big flight but it needs patience one should buy after x and give it time from 6 months to even 1 year for a nicest rate to see towards 85 + if I am not wrong

for 85+ i can even sleep over it for a year...... but mushkil lagta hai.... salam, dehan and other seniors can shed some light. qadir and farzooq bhai ager comment ker dain to zara clear ho jay k agay kerain kya aicl ka.     :thanks:
Title: Re: AICL -- Adamjee Insurance
Post by: Salammembers on December 08, 2013, 08:10:07 PM
pakri wala scene ho ga :crying_anim02:
  Allah karaay u r proved right but aicl isnt pakri and pakri ka personal chokidar koi nahi tha and joo thaay they cannot b compared wirh mansha plus reason for aicl Big B is different :rtfm:

Ali bro,
read my above message shlowly, u will know my gameplan
Title: Re: AICL -- Adamjee Insurance
Post by: DEVDAS on December 08, 2013, 08:33:24 PM
pakri wala scene ho ga :crying_anim02:
  Allah karaay u r proved right but aicl isnt pakri and pakri ka personal chokidar koi nahi tha and joo thaay they cannot b compared wirh mansha plus reason for aicl Big B is different :rtfm:

Ali bro,
read my above message shlowly, u will know my gameplan
My remarks of 20 to 30 rupees rally was on the basis of accumulation done between 100- 105 price range. It's easy to increase price of share trading at average of Rs. 80vv from 37 to 65.
Title: Re: AICL -- Adamjee Insurance
Post by: Ali135 on December 08, 2013, 08:43:33 PM
pakri wala scene ho ga :crying_anim02:
  Allah karaay u r proved right but aicl isnt pakri and pakri ka personal chokidar koi nahi tha and joo thaay they cannot b compared wirh mansha plus reason for aicl Big B is different :rtfm:

Ali bro,
read my above message shlowly, u will know my gameplan

so u r going to hold then and eat the bonus....
Title: Re: AICL -- Adamjee Insurance
Post by: Dehan on December 08, 2013, 10:12:22 PM
Monday will be the critical day for AICL.
Decent trading was done on Friday. Approx 4.5 million shares traded.
Looking Good. Till 10:30 we will get the right picture.
even if it does not go up in spot it will run back after x-bonus. 20 to 30 rupee s quite possible.

Profit book kar liana hi achi option hay, as per my opinion.
Title: Re: AICL -- Adamjee Insurance
Post by: Salammembers on December 08, 2013, 11:53:03 PM
aicl Guru says XB below 32 milnaay ka boohat strong chance haay but uss k paas b future ka crystal ball nahi :tongue:
Title: Re: AICL -- Adamjee Insurance
Post by: 007 on December 09, 2013, 12:03:15 AM
103 ki closing per xb 36.41 hoga  :bangin:
Title: Re: AICL -- Adamjee Insurance
Post by: 007 on December 09, 2013, 12:03:57 AM
http://www.ksestocks.com/XRateCalculator
Title: Re: AICL -- Adamjee Insurance
Post by: Ali on December 09, 2013, 12:31:22 AM
113 pe 40 around banti hai.
2 days 2 lock enjoy
Title: Re: AICL -- Adamjee Insurance
Post by: 007 on December 09, 2013, 03:28:17 AM
113 pe 40 around banti hai.
2 days 2 lock enjoy

have you seen the future  :confused1:
Title: Re: AICL -- Adamjee Insurance
Post by: Dehan on December 09, 2013, 05:21:36 PM
Monday will be the critical day for AICL.
Decent trading was done on Friday. Approx 4.5 million shares traded.
Looking Good. Till 10:30 we will get the right picture.
even if it does not go up in spot it will run back after x-bonus. 20 to 30 rupee s quite possible.

Profit book kar liana hi achi option hay, as per my opinion.

Booking of profit was witnessed today. :D :console:
Title: Re: AICL -- Adamjee Insurance
Post by: sAr on December 10, 2013, 04:24:33 PM
JS Funds offloaded AICL before December Start.
Title: Re: AICL -- Adamjee Insurance
Post by: Salammembers on December 10, 2013, 05:32:02 PM
JS Funds offloaded AICL before December Start.
  except for 1 fund  :rtfm: to avoid  complaint/another investigation :tongue:
Title: Re: AICL -- Adamjee Insurance
Post by: 007 on December 10, 2013, 07:17:17 PM
113 pe 40 around banti hai.
2 days 2 lock enjoy

have you seen the future  :confused1:

posting shit like this like you own the place makes me sick man

kya hua app kay upper locks ka

bhaiwishwani fail ho gaye kya
Title: Re: AICL -- Adamjee Insurance
Post by: Ali on December 10, 2013, 07:38:51 PM
Prediction went false. 
Title: Re: AICL -- Adamjee Insurance
Post by: aalam on December 10, 2013, 07:56:02 PM
Prediction went false.
don't worry...................no 1 can b perfect in stocks :fingerscrossed1:
Title: Re: AICL -- Adamjee Insurance
Post by: Ali135 on December 10, 2013, 08:01:38 PM
subah ab 35.6x pay khulay ga aicl.....  and its all time low was 38.82..................
Title: Re: AICL -- Adamjee Insurance
Post by: aalam on December 10, 2013, 08:30:21 PM
subah ab 35.6x pay khulay ga aicl.....  and its all time low was 38.82..................
but this time its XB
Title: Re: AICL -- Adamjee Insurance
Post by: Ali135 on December 10, 2013, 09:03:31 PM
subah ab 35.6x pay khulay ga aicl.....  and its all time low was 38.82..................
but this time its XB

of-course................  :s1:
Title: Re: AICL -- Adamjee Insurance
Post by: Dehan on December 10, 2013, 10:38:43 PM
113 pe 40 around banti hai.
2 days 2 lock enjoy

have you seen the future  :confused1:

posting shit like this like you own the place makes me sick man

kya hua app kay upper locks ka

bhaiwishwani fail ho gaye kya

Bohat hi masoom is khawhish thi. Aisi masoomiat pa kia kehna.
Title: Re: AICL -- Adamjee Insurance
Post by: Salammembers on December 10, 2013, 11:10:23 PM
xb hum koo above 32 nahi buy karna unless index breaks 27000 or year end figures r exceptional :rtfm:
Title: Re: AICL -- Adamjee Insurance
Post by: 007 on December 11, 2013, 12:00:48 AM
Dehan Bhai

32 Millay tou lay lain ?

Thanks for comments
Title: Re: AICL -- Adamjee Insurance
Post by: Ali on December 11, 2013, 11:16:57 AM
113 pe 40 around banti hai.
2 days 2 lock enjoy

have you seen the future  :confused1:

Chalo locks start... :clap1: :clap1: :clap1: :clap1: :clap1:

posting shit like this like you own the place makes me sick man

kya hua app kay upper locks ka

bhaiwishwani fail ho gaye kya

Bohat hi masoom is khawhish thi. Aisi masoomiat pa kia kehna.
Title: Re: AICL -- Adamjee Insurance
Post by: DEVDAS on December 11, 2013, 01:44:07 PM
pakri wala scene ho ga :crying_anim02:
  Allah karaay u r proved right but aicl isnt pakri and pakri ka personal chokidar koi nahi tha and joo thaay they cannot b compared wirh mansha plus reason for aicl Big B is different :rtfm:

Ali bro,
read my above message shlowly, u will know my gameplan
My remarks of 20 to 30 rupees rally was on the basis of accumulation done between 100- 105 price range. It's easy to increase price of share trading at average of Rs. 80vv from 37 to 65.
So little game started..........lets see how long it goes
Title: Re: AICL -- Adamjee Insurance
Post by: Ali on December 11, 2013, 02:35:45 PM
113 pe 40 around banti hai.
2 days 2 lock enjoy

have you seen the future  :confused1:

posting shit like this like you own the place makes me sick man

kya hua app kay upper locks ka

bhaiwishwani fail ho gaye kya

Prediction is not wrong... But timing is not correct.
Check it now...
AICL future is also lock.
 :dance 
Title: Re: AICL -- Adamjee Insurance
Post by: 007 on December 11, 2013, 03:18:52 PM
101 ka buy kar kay 37 per upper lock per kush ho rahay hain ali bhai  :console:
Title: Re: AICL -- Adamjee Insurance
Post by: Ali on December 11, 2013, 03:50:24 PM
check the future rate... its lock with good buyer in end.
Tomorrow opening will be around 39 InshaAllah.
Title: Re: AICL -- Adamjee Insurance
Post by: Ali on December 12, 2013, 11:34:07 AM
Good Show... Shukar Alhamdolillah... :shoaby: :shoaby: :shoaby: :clap1: :clap1: :clap1: :dance :dance :dance
Title: Re: AICL -- Adamjee Insurance
Post by: Ali on December 12, 2013, 03:10:34 PM
Wht is the game going in AICL?
Title: Re: AICL -- Adamjee Insurance
Post by: phaze on December 13, 2013, 01:08:43 PM
in december maen aicl kahan tak jay ga. what will be his move?
Title: Re: AICL -- Adamjee Insurance
Post by: Saiti on December 13, 2013, 03:08:14 PM
113 pe 40 around banti hai.
2 days 2 lock enjoy
Good call
aaj 40 ki jagha 41.28 laga gaya... 2 ki jagha 3 caps
Title: Re: AICL -- Adamjee Insurance
Post by: lovegreen on December 13, 2013, 11:02:14 PM
Seniors please advice that should we enter in Aicl on Monday at level of 40-41 or should we wait for little low rate? Please advice soon.
Title: Re: AICL -- Adamjee Insurance
Post by: Salammembers on December 13, 2013, 11:11:39 PM
Seniors please advice that should we enter in Aicl on Monday at level of 40-41 or should we wait for little low rate? Please advice soon.

Bro though I am out of aicl , I must admit XB aicl looks  attractive and bit cheap.
however,
many senior people on our board  adviced exit before aicl book closure and v must respect their combined Dhiyan
and try to keep away from aicl for now.
maximum upside might b  25% from here but if less risky item is available i will opt for that `doosra` item
because v r in kse to earn with minimum risk   
Title: Re: AICL -- Adamjee Insurance
Post by: hamid78 on December 14, 2013, 12:13:18 AM
bhai woh less risky items kon se hien as compare to aicl. plz advise as i m still holding few aicl so that i can roll over with those items
Title: Re: AICL -- Adamjee Insurance
Post by: dhoom on December 14, 2013, 12:54:10 AM
now banks r risk free. fabl.bop.bafl.
Title: Re: AICL -- Adamjee Insurance
Post by: Salammembers on December 14, 2013, 12:59:15 AM
bhai woh less risky items kon se hien as compare to aicl. plz advise as i m still holding few aicl so that i can roll over with those items

Bro,
for time being,
pl put stop loss daily 50-90 paisa above lower lock and continue to enjoy aicl XB Ride

Title: Re: AICL -- Adamjee Insurance
Post by: Ali on December 14, 2013, 01:05:25 AM
When is bonus shares expected? 15 Jan or till 30th Jan?
Title: Re: AICL -- Adamjee Insurance
Post by: hamid78 on December 14, 2013, 03:19:54 AM
thnx for guidance seniors
Title: Re: AICL -- Adamjee Insurance
Post by: phaze on December 14, 2013, 02:56:07 PM
Hi.

Have a nice day, and thank you very much for advance.

aicl bonus shares when expected?

Ready 5000 @101 shares before x... what will be calculation of bonus shares

Thanks.
Regards.
Title: Re: AICL -- Adamjee Insurance
Post by: Ali on December 14, 2013, 03:14:09 PM
Around 35.7
Title: Re: AICL -- Adamjee Insurance
Post by: aalam on December 14, 2013, 06:14:11 PM
leeeeeeeeeeeee.....sell on strenghth
Title: Re: AICL -- Adamjee Insurance
Post by: aalam on December 14, 2013, 06:23:39 PM
32....................... :good
Title: Re: AICL -- Adamjee Insurance
Post by: Azizibiz on December 14, 2013, 07:58:02 PM
time 2 buy as much aicl as it is possible 4 u 2 buy. within days it'll cross 50, 60, 70...  real capital gain opportunity.
Title: Re: AICL -- Adamjee Insurance
Post by: Azizibiz on December 14, 2013, 07:59:49 PM
buy and hold yes buy and hold
Title: Re: AICL -- Adamjee Insurance
Post by: lovegreen on December 14, 2013, 08:11:46 PM
Seniors please advice that should we enter in Aicl on Monday at level of 40-41 or should we wait for little low rate? Please advice soon.

Bro though I am out of aicl , I must admit XB aicl looks  attractive and bit cheap.
however,
many senior people on our board  adviced exit before aicl book closure and v must respect their combined Dhiyan
and try to keep away from aicl for now.
maximum upside might b  25% from here but if less risky item is available i will opt for that `doosra` item
because v r in kse to earn with minimum risk
Thanks slammember bhai for reply yes it's cheap after x but x k bad kbhe kbhe shares high ja k dip letay hain so app kia boltay hain @ slammember kis rate pe best buy hoga aicl any Idea current rates around 40 or wait for dip ?
Title: Re: AICL -- Adamjee Insurance
Post by: Salammembers on December 14, 2013, 10:32:36 PM
Have been Adviced to avoid aicl above 34 but 6th sense bolta haay 50 hoo sakta haay and should have bought aicl xb atleast 5-10, 000 huhu huhu huhu though logically buying aicl at present will b high risk decision and complete ly avoidable mistake
Title: Re: AICL -- Adamjee Insurance
Post by: phaze on December 16, 2013, 05:44:19 PM
Aicl kia planning kar raha hai.

Aalaam bhai can you past aicl fundamental and technal report.

Also please give your valuable opinion what is the strategy of aicl.

Aj tu ya batameez floor ho gia hai.
Title: Re: AICL -- Adamjee Insurance
Post by: aalam on December 16, 2013, 05:48:21 PM
32-33 is buying range, imho...........and if correction comes, then 27 is my target............ :good
Title: Re: AICL -- Adamjee Insurance
Post by: 007 on December 17, 2013, 09:59:52 AM
another efoods engro like prediction

you are on a roll aalam bhai

laooo aicl 27 ka
Title: Re: AICL -- Adamjee Insurance
Post by: phaze on December 19, 2013, 05:01:39 PM
Some one asked here.... when bonus share will be credited in account.

I asked this question to kasb... They replied.

Refer to query AICL bonus shares will be credited in account after one month of last day of book closure. which is 18/12/13. So it will be credit on 18/1/2014 tentatively.

Thank you.
Title: Re: AICL -- Adamjee Insurance
Post by: decentshaw on December 20, 2013, 12:20:47 PM
AOA to all,
I am quite away from shares due to my JOb.
AICL is looking attractive at current levels. After the heavy bonus announcement, Its eps will dilute too much effecting its share price too. Vaguely i think 50 can a short term target for it.
What are your suggestions and input, i m confused ?

Regards
Title: Re: AICL -- Adamjee Insurance
Post by: phaze on December 20, 2013, 02:20:34 PM
On this same thread you can read last week updates.

I REPEAT HERE.

Aicl tip was 60 some are saying 50.

Aalaam bhai wrote here that it will come to 32.

It made me not confuse, it made me crazy.

i talked to kasb they told me it will go up.
Title: Re: AICL -- Adamjee Insurance
Post by: Saiti on December 20, 2013, 02:28:56 PM
Some one asked here.... when bonus share will be credited in account.

I asked this question to kasb... They replied.

Refer to query AICL bonus shares will be credited in account after one month of last day of book closure. which is 18/12/13. So it will be credit on 18/1/2014 tentatively.

Thank you.

Deserves a +1

Maybe later when the database error glitch is fixed
Title: Re: AICL -- Adamjee Insurance
Post by: tac786 on December 20, 2013, 03:13:14 PM
On this same thread you can read last week updates.

I REPEAT HERE.

Aicl tip was 60 some are saying 50.

Aalaam bhai wrote here that it will come to 32.

It made me not confuse, it made me crazy.

i talked to kasb they told me it will go up.

 :D bhiya ye aksar aap ne suna ho ga buy on dip  sell on hihg jab buy ka waqt hota hain  tab or nichy or nichy k khyalat hote hain tab tak train chot jate hain............MINTUSSS KHAOO AKAL KI BATI JALOOOOOOOOOOOOOOOOO....... :shoaby: :dance :fingerscrossed1:
Title: Re: AICL -- Adamjee Insurance
Post by: Ali135 on December 20, 2013, 03:45:58 PM
On this same thread you can read last week updates.

I REPEAT HERE.

Aicl tip was 60 some are saying 50.

Aalaam bhai wrote here that it will come to 32.

It made me not confuse, it made me crazy.

i talked to kasb they told me it will go up.

 :D bhiya ye aksar aap ne suna ho ga buy on dip  sell on hihg jab buy ka waqt hota hain  tab or nichy or nichy k khyalat hote hain tab tak train chot jate hain............MINTUSSS KHAOO AKAL KI BATI JALOOOOOOOOOOOOOOOOO....... :shoaby: :dance :fingerscrossed1:




Laoooooooooooo maaaaaallllllllllllllllllll/ laooooooooooooooooooo maaaaaaaaaaaaaaaaaaaalllllllllllllll......  :shoaby: :shoaby: :shoaby: :dance :dance :dance :clap1: :clap1: :clap1:

ab to laooooo dance b ho gaya. ab laooooo...    :@
Title: Re: AICL -- Adamjee Insurance
Post by: Koolfire on December 24, 2013, 08:46:46 AM
Bonus shares credited
Title: Re: AICL -- Adamjee Insurance
Post by: Saiti on December 24, 2013, 08:56:18 AM
Bonus shares credited
I dont see any bonus shares in my terminal
Title: Re: AICL -- Adamjee Insurance
Post by: Koolfire on December 24, 2013, 09:03:45 AM
Bonus shares credited
I dont see any bonus shares in my terminal

shares have been credited in cdc but broker may need to update clients accounts
Title: Re: AICL -- Adamjee Insurance
Post by: Saiti on December 24, 2013, 09:26:33 AM
Bonus shares credited
I dont see any bonus shares in my terminal

shares have been credited in cdc but broker may need to update clients accounts
Thanks
Title: Re: AICL -- Adamjee Insurance
Post by: aalam on December 25, 2013, 08:11:58 PM
another efoods engro like prediction

you are on a roll aalam bhai

laooo aicl 27 ka
efoods 162 say 80 aya the aalam ki call pr.....what else u need....aur ye ley lijiye....aicl b aa raha hay auqat me :good
Title: Re: AICL -- Adamjee Insurance
Post by: SBM on December 25, 2013, 10:28:38 PM
another efoods engro like prediction

you are on a roll aalam bhai

laooo aicl 27 ka
efoods 162 say 80 aya the aalam ki call pr.....what else u need....aur ye ley lijiye....aicl b aa raha hay auqat me :good

 :ohmy:
Title: Re: AICL -- Adamjee Insurance
Post by: 007 on December 25, 2013, 11:22:06 PM
another efoods engro like prediction

you are on a roll aalam bhai

laooo aicl 27 ka
efoods 162 say 80 aya the aalam ki call pr.....what else u need....aur ye ley lijiye....aicl b aa raha hay auqat me :good

Stop lying you have shit dehan and shittier sense of timing

Hopefully you will be banned permanently

I dont even wanna point the shit calls you made

If any one has an iota of common sense they would not listen to you
Title: Re: AICL -- Adamjee Insurance
Post by: irfanayub80 on December 25, 2013, 11:34:58 PM
can i buy aicl at this current rate at 37 - 38 for long term any idea?
Title: Re: AICL -- Adamjee Insurance
Post by: irfanayub80 on December 25, 2013, 11:58:57 PM
kia yeh 70 or 85 touch kar sakta ha i mean next three month main?
Title: Re: AICL -- Adamjee Insurance
Post by: SBM on December 26, 2013, 12:03:53 AM
kia yeh 70 or 85 touch kar sakta ha i mean next three month main?

no
Title: Re: AICL -- Adamjee Insurance
Post by: irfanayub80 on December 26, 2013, 12:10:53 AM
kia matlab to phir isko hold karaon ya sell kardon aur is ki t p kia banti ha aap ka hisab say? :s1:
Title: Re: AICL -- Adamjee Insurance
Post by: Irfan on December 27, 2013, 12:30:28 AM
For my personal portfolio , MZ , 007 , SBM , asim.786 , Qadir bahi (  Agar ap chupka sa forum visit kerta hain tu :D  :tongue: ) and other seniors, do you guys think , it is advisable to enter in this script at this stage for long term  ?

It will be highly appreciated if you can share your views.  :thanks:



Title: Re: AICL -- Adamjee Insurance
Post by: 007 on December 27, 2013, 02:41:04 AM
Rates are goodish limited downside but I don't see a quick bull run happening unless another bombshell news is conjured up by aicl
Title: Re: AICL -- Adamjee Insurance
Post by: umer on December 29, 2013, 08:39:05 PM
another efoods engro like prediction

you are on a roll aalam bhai

laooo aicl 27 ka
efoods 162 say 80 aya the aalam ki call pr.....what else u need....aur ye ley lijiye....aicl b aa raha hay auqat me :good
Aalam bhai yar aap bhol rhe ho apnay tow aicl 45 pe lana tha  :rtfm: :D 45 pe latay tow apko man jatay 80 per tow efoods k buray naseeb (bad results) isko le aye thay but it bounced back from 80 so didn't come at 45 which you most of the time given call k lee mall efoods but yeh 80 say bhag gia high  ;)
Title: Re: AICL -- Adamjee Insurance
Post by: Avi2013 on January 02, 2014, 04:22:24 PM
50 ki Awazain ah rahe hainn bhaiyonn.....seniors thori se nazar dal len  :skeptic: :skeptic:
Title: Re: AICL -- Adamjee Insurance
Post by: CanBull on January 02, 2014, 04:24:15 PM
It will soon touch in range of 30-32. Buy not recommended at this stage. :thumbsdown_anim:
Title: Re: AICL -- Adamjee Insurance
Post by: Avi2013 on January 02, 2014, 04:31:16 PM
today many brokers said k Its time to hit 50 very soon..!! i m confused now  :skeptic: :skeptic: :skeptic:
Title: Re: AICL -- Adamjee Insurance
Post by: Irfan on January 02, 2014, 05:01:17 PM
I was interested to take position in AICL but i was asked to wait by my adviser .  Just sharing my opinion .

Rest is your choice , no recommendation for buying or selling in this script .   :thanks:
Title: Re: AICL -- Adamjee Insurance
Post by: 007 on January 03, 2014, 11:51:36 PM
bot 10K at 38.60  :bangin:
Title: Re: AICL -- Adamjee Insurance
Post by: Avi2013 on January 04, 2014, 01:19:32 AM
bot 10K at 38.60  :bangin:

Same here...Bought 25k on 38.50  ;) ;)
Title: Re: AICL -- Adamjee Insurance
Post by: 007 on January 05, 2014, 02:54:32 PM
lets hope it does not disappoint
Title: Re: AICL -- Adamjee Insurance
Post by: Avi2013 on January 05, 2014, 03:13:32 PM
lets hope it does not disappoint

50 ki awazain han brokers k pass..lets seeee  :biggthumpup: :biggthumpup:
Title: Re: AICL -- Adamjee Insurance
Post by: Avi2013 on January 07, 2014, 03:22:33 AM
Tu b chal jaa yaar  :laugh: :laugh:
Title: Re: AICL -- Adamjee Insurance
Post by: tac786 on January 07, 2014, 08:23:15 AM
Tu b chal jaa yaar  :laugh: :laugh:

challllllllllllllll :bangin: :bangin: :bangin: :bangin: :bangin: :bangin:

challllllllllllll uuu uuu uuu uuu uuu uuu uuu uuu uuu uuu uuu uuu uuu

ab ye chaley..............:D
Title: Re: AICL -- Adamjee Insurance
Post by: Avi2013 on January 07, 2014, 10:03:06 PM
 :thumbsdown_anim: :thumbsdown_anim: :thumbsdown_anim: huhu
Title: Re: AICL -- Adamjee Insurance
Post by: Ali135 on January 08, 2014, 06:42:14 AM
:thumbsdown_anim: :thumbsdown_anim: :thumbsdown_anim: huhu

 :console: :console:   till march.....  :lazy2: :lazy2: :lazy2: :lazy2: :lazy2:
Title: Re: AICL -- Adamjee Insurance
Post by: Irfan on January 08, 2014, 06:59:17 PM
Main is ka neecha ana ka wait ke reha hoon aur ap loog is ka upper jana ka  :$:

kya yeah khula tazad nahi  :tongue:
Title: Re: AICL -- Adamjee Insurance
Post by: Salammembers on January 08, 2014, 11:15:22 PM
Main is ka neecha ana ka wait ke reha hoon aur ap loog is ka upper jana ka  :$:

kya yeah khula tazad nahi  :tongue:
me too but might b tempted 2 jump blindly if 40 break huwa
Title: Re: AICL -- Adamjee Insurance
Post by: Allah Tawakal on January 09, 2014, 12:30:54 AM
looking very attractive at these levels,,, jumping in tmoro,,, no high tips just Allah Tawakal  :D
Title: Re: AICL -- Adamjee Insurance
Post by: Salammembers on January 09, 2014, 12:18:10 PM
looking very attractive at these levels,,, jumping in tmoro,,, no high tips just Allah Tawakal  :D

aicl now struggling to trade below 38 due to continuous rise in index and mkt sentiments,
kia jump maroo?  :confused1:
chaloo phased buying shroo kartaay haay as downside filhaal only 2 rupee and keep
some money in safe to average if mkt laaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaal hoi :rtfm:
Title: Re: AICL -- Adamjee Insurance
Post by: aliraza on January 09, 2014, 12:34:14 PM
looking very attractive at these levels,,, jumping in tmoro,,, no high tips just Allah Tawakal  :D

aicl now struggling to trade below 38 due to continuous rise in index and mkt sentiments,
kia jump maroo?  :confused1:
chaloo phased buying shroo kartaay haay as downside filhaal only 2 rupee and keep
some money in safe to average if mkt laaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaal hoi :rtfm:

abhi hold rahkoo enjoy karoo gaa
Title: Re: AICL -- Adamjee Insurance
Post by: 007 on January 09, 2014, 12:40:17 PM
aliraza bhai 32-33 ka nahin milay ga kya
Title: Re: AICL -- Adamjee Insurance
Post by: aliraza on January 09, 2014, 12:46:53 PM
aliraza bhai 32-33 ka nahin milay ga kya

007 bhai umeed rrahke shad mil jayeee
Title: Re: AICL -- Adamjee Insurance
Post by: aliraza on January 13, 2014, 11:58:34 AM
aaj aicl ko kay ho gaaa aas nahee honaa chaiiiiiiiiii thaaaa is level pa :bangin: :bangin: :bangin:
Title: Re: AICL -- Adamjee Insurance
Post by: CanBull on January 13, 2014, 12:15:07 PM
It has to go down till the level of 32-34.. :thumbsdown_anim:
Title: Re: AICL -- Adamjee Insurance
Post by: aliraza on January 13, 2014, 12:32:58 PM
It has to go down till the level of 32-34.. :thumbsdown_anim:

asa na kahoo bhai yaha saa golaa marna chaiiiiiiiiiiiiiiiiiiiiii
Title: Re: AICL -- Adamjee Insurance
Post by: CanBull on January 13, 2014, 12:39:08 PM
Let's see, I am very optimistic  ;). Correction is due in market. So it will push it to 32-34 range
Title: Re: AICL -- Adamjee Insurance
Post by: aalam on January 13, 2014, 04:11:47 PM
Let's see, I am very optimistic  ;). Correction is due in market. So it will push it to 32-34 range
sab ko correction ka intzaar hay....aur correction nahi dooooooooooor tak....what does it mean ali bahi? :tongue:
Title: Re: AICL -- Adamjee Insurance
Post by: aliraza on January 13, 2014, 04:28:14 PM
Let's see, I am very optimistic  ;). Correction is due in market. So it will push it to 32-34 range
sab ko correction ka intzaar hay....aur correction nahi dooooooooooor tak....what does it mean ali bahi? :tongue:


aalam bhai aicl mrkt trend sa nahee chalta mrkt ma jab correction i to lazmi nahee sab share correction lay kuch share kafi discount ma ho gaaa dahkta haa ky hota haa
Title: Re: AICL -- Adamjee Insurance
Post by: aalam on January 13, 2014, 06:11:24 PM
32 pr milay ga aicl......I.A
Title: Re: AICL -- Adamjee Insurance
Post by: 007 on January 13, 2014, 06:43:44 PM
efoods 45 ka aur engro 80 ga  :console:

qassam khai hai aalam sb nay 
Title: Re: AICL -- Adamjee Insurance
Post by: Allah Tawakal on January 13, 2014, 07:33:23 PM
bond bhai realistically, ap ki kya soch hy? kis level pr buy krna chahye AICL?
Title: Re: AICL -- Adamjee Insurance
Post by: 007 on January 13, 2014, 07:34:22 PM
not bad rates right now buy in dips 36 is strong support
Title: Re: AICL -- Adamjee Insurance
Post by: Allah Tawakal on January 13, 2014, 07:38:37 PM
acknowledged with thanks bro  :good
Title: Re: AICL -- Adamjee Insurance
Post by: Ali on January 13, 2014, 08:27:24 PM
acknowledged with thanks bro  :good
Its one of the good buy at current level. Dont know why it is not picking up...
Title: Re: AICL -- Adamjee Insurance
Post by: Avi2013 on January 13, 2014, 08:46:04 PM
best time to buy  :)
kal thora or necha jae then buy karte hain isko b  :thumbsup_anim: :thumbsup_anim:
Title: Re: AICL -- Adamjee Insurance
Post by: Allah Tawakal on January 13, 2014, 11:26:46 PM
INSHA ALLAH buying tmoro  :good
Title: Re: AICL -- Adamjee Insurance
Post by: Salammembers on January 13, 2014, 11:45:38 PM
INSHA ALLAH buying tmoro  :good
u mean wednesday :tongue:
Title: Re: AICL -- Adamjee Insurance
Post by: aliraza on January 15, 2014, 10:58:16 AM
Let's see, I am very optimistic  ;). Correction is due in market. So it will push it to 32-34 range
sab ko correction ka intzaar hay....aur correction nahi dooooooooooor tak....what does it mean ali bahi? :tongue:


aalam bhai aicl mrkt trend sa nahee chalta mrkt ma jab correction i to lazmi nahee sab share correction lay kuch share kafi discount ma ho gaaa dahkta haa ky hota haa

aalam bhaiiiiiiiiiiiiiiiiiiii aicl  :dance :dance :dance :thumbsup_anim:
Title: Re: AICL -- Adamjee Insurance
Post by: Ali on January 15, 2014, 11:02:05 AM
best time to buy  :)
kal thora or necha jae then buy karte hain isko b  :thumbsup_anim: :thumbsup_anim:
AICL will lock in next 10 mins IA.
 :shoaby: :shoaby: :shoaby: :shoaby: :shoaby:
Title: Re: AICL -- Adamjee Insurance
Post by: 007 on January 15, 2014, 12:45:38 PM
32 pr milay ga aicl......I.A

 huhu

 :tongue:

Title: Re: AICL -- Adamjee Insurance
Post by: Ali on January 15, 2014, 06:58:54 PM
Good volumes...We can see 40 in the current week...
Title: Re: AICL -- Adamjee Insurance
Post by: Ali on January 17, 2014, 10:10:45 AM
Tu bhi kuch dekha  :clap1: :clap1: :clap1:
Title: Re: AICL -- Adamjee Insurance
Post by: 007 on January 17, 2014, 07:21:50 PM
32 pr milay ga aicl......I.A

 :dance
Title: Re: AICL -- Adamjee Insurance
Post by: ali62 on January 17, 2014, 07:41:11 PM
 :clap1: :clap1:
Title: Re: AICL -- Adamjee Insurance
Post by: DEVDAS on January 18, 2014, 01:07:21 AM
32 pr milay ga aicl......I.A

 :dance

50 per jaa kar 32 per milay gaa
Title: Re: AICL -- Adamjee Insurance
Post by: Irfan on January 19, 2014, 01:17:05 AM
32  :$: itna neecha jana possible ha ??   :dunno:

Maybe koye bhut bare breaking news aye ,  Nawaz Shareef is pregnant , Market Crash  :laugh: :laugh: :laugh:
Title: Re: AICL -- Adamjee Insurance
Post by: tahirdxb on January 19, 2014, 01:27:04 AM
Great Science @ Irfan
Title: Re: AICL -- Adamjee Insurance
Post by: Saiti on January 19, 2014, 12:30:03 PM
nawaz shareef hey ... arnold schwarzeneger nahi
Title: Re: AICL -- Adamjee Insurance
Post by: 007 on January 29, 2014, 02:23:03 PM
AICL: Buy with Dec ’14 TP of PKR55/-

We have revised our Dec 2014 Target Price (TP) of Adamjee Insurance Company Ltd. (AICL) to PKR55/- on the back of forecasted strong core earnings and rising investment income during FY13. Yesterday, the AICL scrip closed at PKR38.67/- implying a 42pc upside to our Dec ’14 TP of PKR55/- for the scrip; at its FY2014 EPS of PKR6.56, the AICL scrip is currently trading at a PER of 5.89x and offers a dividend yield of 9pc (FY2014 DPS: PKR3.50). We thus recommend a ‘BUY’ stance for the scrip at current levels.

We foresee AICL announcing FY14 profit after tax of PKR2,295mn (EPS: PKR6.56) together with dividend per share of PKR3.50. In the last trading session (Jan 29, 2014), the AICL scrip closed at PKR38.67/- implying FY14 PER (x) of 5.89x. Our Dec 2014 Target Price (TP) for the AICL scrip stands at PKR55/- implying that the scrip is currently trading at a discount of 42pc to its TP. We thus have a ‘BUY’ stance for AICL scrip at current levels!
 
 
 
 Research

 AL Habib Capital Markets (Pvt.) Ltd
Title: Re: AICL -- Adamjee Insurance
Post by: aliraza on January 29, 2014, 02:39:44 PM
AICL: Buy with Dec ’14 TP of PKR55/-

We have revised our Dec 2014 Target Price (TP) of Adamjee Insurance Company Ltd. (AICL) to PKR55/- on the back of forecasted strong core earnings and rising investment income during FY13. Yesterday, the AICL scrip closed at PKR38.67/- implying a 42pc upside to our Dec ’14 TP of PKR55/- for the scrip; at its FY2014 EPS of PKR6.56, the AICL scrip is currently trading at a PER of 5.89x and offers a dividend yield of 9pc (FY2014 DPS: PKR3.50). We thus recommend a ‘BUY’ stance for the scrip at current levels.

We foresee AICL announcing FY14 profit after tax of PKR2,295mn (EPS: PKR6.56) together with dividend per share of PKR3.50. In the last trading session (Jan 29, 2014), the AICL scrip closed at PKR38.67/- implying FY14 PER (x) of 5.89x. Our Dec 2014 Target Price (TP) for the AICL scrip stands at PKR55/- implying that the scrip is currently trading at a discount of 42pc to its TP. We thus have a ‘BUY’ stance for AICL scrip at current levels!
 
 
 
 Research

 AL Habib Capital Markets (Pvt.) Ltd

 :good
Title: Re: AICL -- Adamjee Insurance
Post by: Salammembers on February 01, 2014, 01:59:02 PM
Very strong support around 38.50 , lagta haay next week 40 tooraay ga
Title: Re: AICL -- Adamjee Insurance
Post by: CanBull on February 12, 2014, 06:42:29 PM
 :clap1: :clap1:.. Towards 45 >>>>
Title: Re: AICL -- Adamjee Insurance
Post by: 007 on February 12, 2014, 10:24:06 PM
good show
Title: Re: AICL -- Adamjee Insurance
Post by: tahirdxb on February 12, 2014, 11:16:26 PM
Get Ready once more U.L.  ;)
Title: Re: AICL -- Adamjee Insurance
Post by: CanBull on February 12, 2014, 11:52:40 PM
Get Ready once more U.L.  ;)
The show started before time. I was expecting in first week of March. OK Let's have fun till 45 - 48 :shoaby: :shoaby: :biggthumpup:
Title: Re: AICL -- Adamjee Insurance
Post by: CanBull on February 13, 2014, 05:36:43 PM
Is there any news of interim dividend or bonus shares ????
Title: Re: AICL -- Adamjee Insurance
Post by: sanwar on February 13, 2014, 08:42:46 PM
Is there any news of interim dividend or bonus shares ????

Since 2006, AICL announces dividend in December (except for 2011).
However, they announced a hefty bonus of 182.9% in November, which was realized in holders account in Dec '13...

Title: Re: AICL -- Adamjee Insurance
Post by: MZ on February 13, 2014, 11:06:07 PM
Operating since 1960, Adamjee Insurance Company Limited (AICL), a premier name in the field of insurance is armed with an asset base of Rs 24 billion and a market capitalisation of Rs 13.6 billion, and is listed on all three stock exchanges of Pakistan and operates in Pakistan as well as in UAE. Adamjee Insurance with Hollard Insurance based in South Africa launched life assurance operations through a separate entity named as Adamjee Life Assurance Company Limited.

The paid up capital of the company has grown to a large extent in the past five decades to Rs 1.24 billion, from Rs 2.5 million at the time when the Company commenced its operations.

Operational business Key operating segments where the Company is involved include: fire and property, engineering, health, marine, motor and miscellaneous business. Moreover, the Company is also known to offer insurance coverage to petrochemical, factories and industrial risk projects and also specialises in providing insurance to engineering, telecom, sugar and energy sectors. Further, the Company is the principal insurer of kidnap and ransom, professional indemnity, product liability. Adamjee Insurance has also been involved in executing and assembling construction or infrastructure development projects with foreign investors entering into Pakistan for business purposes.

Financial performance-9M CY13 Nine-month results of Adamjee Insurance have taken the wind out of investors' sails, which perhaps may be the reason behind Adamjee Insurance's recent rally on local bourse.

Although net premium revenue declined by 5 percent during the period, improvement in net claims caused net claims to net premium revenue to fall from 65 percent in 9M CY12 to 62 percent in 9M CY13. As a result of improvement in net claims, underwriting result surged massively by Rs 67 million over last year to clock in at Rs 79 million in 9M CY13.

Gain on sales of available for sale securities as reflected in the investment income portion, showed a hefty growth of 125 percent when compared to the corresponding period of last year. Although other income declined, hefty rise in rental income mitigated the negative impact of decline in other income. Besides, strong underwriting profit and rise in income from other sources, the Company also booked a fat exchange loss of Rs 41 million during these nine months. Owing to this, the profitability improved to Rs 1,735 million up from Rs 842 million in the same period of last year, depicting a rise of 106 percent over 9M CY12.

Despite a touch economic scenario, the Company managed to improve its operational results by concentrating on maintaining quality portfolio, while boost from healthy investment portfolio further enabled the Company to live a life of luxury.

Financial performance-2012 Poor operating performance weighed down Adamjee Insurance's profitability during 2012. As net claims to net premium revenue marked significant rise from 66 percent to 73 percent during the year, the Company was prompted to book underwriting loss worth Rs 412 million in 2012 as opposed to underwriting profit of Rs 165 million in 2011.

Gross premium decreased by 9 percent to Rs 10 billion over the previous year, which can primarily be attributed to loss of business in fire, marine and motor segments of the Company in consequence of Company's strategy of shifting its focus towards pursuing and retaining quality portfolio to improve Company's profitability in coming years-which is evident by the nine-month results of 2013.

During 2012, administrative expenses depicted improvement by Rs 787 million, equivalent to a decline of 65 percent on year-on-year basis. This occurred on the back of reduced provisioning against doubtful receivables of Rs 101 million vis-à-vis a provision of Rs 932 million booked last year.

Delving into the segmental profitability, fire and property segment making up 40 percent of the total portfolio of Adamjee Insurance incurred underwriting loss of Rs 308 million versus an underwriting profit of Rs 86 million in 2011. Followed by fire and property segment, motor segment that constitutes 30 percent of the total portfolio of Adamjee Insurance recorded an underwriting loss of Rs 48 million versus an underwriting profit of Rs 114 million in 2011. The marine segment constituting eight percent of the total portfolio, posted underwriting profit of Rs 66 million which is line with the underwriting profit as witnessed in 2011.

Finally, the miscellaneous segment, constituting 22 percent of the total portfolio of Adamjee Insurance, reported an underwriting loss of Rs 122 million versus an underwriting loss of Rs 100 million. Sizeable claims in health segment and increased claims in crop business owing to flood losses were highlighted as the key reasons by Company's management behind this lackluster underwriting result of this segment.

However, such bad operating performance was not the fate of Adamjee as hefty income from other sources and decline in expenses contributed its share towards saving the Company during bad times. Investment income rose by 56 percent to Rs 1.3 billion in 2013, this healthy increase occurred on the back of reversal in impairment of available for sale investments.

Industry outlook The performance of insurance industry is linked with the performance of economic activity, while tough economic conditions leave the insurance providers in tough situations; booming economic market on the other hand, provides room for the insurance industry to expand its footprints.

While Pakistan is the country where insurance penetration is relatively less as a percentage of GDP, and the industry is still untapped to a large extent, insurance companies now have the opportunity to take advantage of revival in economic activity and pursue opportunities in sectors that still carry huge potential and have been left high and dry in the past.

While distribution of insurance policies has remained the key issue for insurance companies, collaborating with banks and incentivizing banks to sell insurance policies while also encouraging them to retain clients will help foster the client base of the industry. In this situation, focusing on development of low cost and high need based products will enable Adamjee Insurance to increase its market share and expand its footprints.

===========================================================
ADAMJEE INSURANCE- FINANCIAL HIGHLIGHTS
===========================================================
Rs  (000)                              9MCY13        9MCY12
===========================================================
Net Premium Revenue                 4,099,609     4,300,489
Net Claims Expense                  2,551,964     2,800,346
Underwriting Result                    79,156        12,487
Investment Income                   2,016,199       895,998
Rental Income                           3,651             0
Other Income                           75,994       117,345
General & Administrative expenses     257,703       164,540
Exchange gain                          41,189         1,072
Finance charge on lease rentals         1,520         4,719
Profit before taxation              1,956,966       857,643
Profit after taxation               1,735,188       841,941
EPS - basic and diluted                 14.03          6.81
-----------------------------------------------------------
Source: Company Accounts
===========================================================
Title: Re: AICL -- Adamjee Insurance
Post by: jay on February 17, 2014, 07:21:56 PM
pls iss ke baray main be batian. kia lagta hai
Title: Re: AICL -- Adamjee Insurance
Post by: Murtaza8888 on February 17, 2014, 10:20:25 PM
pls iss ke baray main be batian. kia lagta hai

Hold rakhoo aur 39.50 say avg. kar na 38.50 tak result tak 48+ hoo ga IN SHA ALLAH
Title: Re: AICL -- Adamjee Insurance
Post by: CanBull on February 20, 2014, 04:59:55 PM
It's strong despite of red market
Title: Re: AICL -- Adamjee Insurance
Post by: Adil. on March 06, 2014, 09:45:27 PM
My Buying price is 38.1 , what should be medium term objective ?
Title: Re: AICL -- Adamjee Insurance
Post by: Irfy on March 06, 2014, 10:47:12 PM
Rs.46-47....
Title: Re: AICL -- Adamjee Insurance
Post by: Ali135 on March 07, 2014, 06:02:45 PM
is ki bm ka kuch ata pata hi nahi... lao next week mai bm announcement....  :rtfm:
Title: Re: AICL -- Adamjee Insurance
Post by: Ali135 on March 11, 2014, 09:13:49 AM
http://www.thenews.com.pk/Todays-News-3-237105-SECP-proposes-tax-benefits-for-insurance-sector


 :thumbsup_anim: :dance :dance :dance
Title: Re: AICL -- Adamjee Insurance
Post by: Ali135 on March 11, 2014, 03:18:15 PM
 :dance :dance :dance :clap1: :clap1: :clap1: :shoaby: :shoaby: :shoaby:
Title: Re: AICL -- Adamjee Insurance
Post by: CanBull on March 11, 2014, 03:40:11 PM
good show
    :shoaby: :shoaby:
:clap1: :clap1:.. Towards 45 >>>>
Acheived my first target. Now next is 50 till end of march.  :clap1:

Title: Re: AICL -- Adamjee Insurance
Post by: umer on March 11, 2014, 03:45:20 PM
good show
    :shoaby: :shoaby:
:clap1: :clap1:.. Towards 45 >>>>
Acheived my first target. Now next is 50 till end of march.  :clap1:

My buy is in 37 and holding for medium to long term atleast for 65 + . I will hold for further 6 to 12 months or 65 + which ever comes first. ( Itne big price x hue hai share ke from 100 to 40 below kuch na kuch tow perform krega he in whole year to reach high )
Title: Re: AICL -- Adamjee Insurance
Post by: CanBull on March 11, 2014, 05:18:38 PM
good show
    :shoaby: :shoaby:
:clap1: :clap1:.. Towards 45 >>>>
Acheived my first target. Now next is 50 till end of march.  :clap1:

My buy is in 37 and holding for medium to long term atleast for 65 + . I will hold for further 6 to 12 months or 65 + which ever comes first. ( Itne big price x hue hai share ke from 100 to 40 below kuch na kuch tow perform krega he in whole year to reach high )
60-65 is very much achievable target till july end. But if insurance sector performs then it can make new high till year end.
Title: Re: AICL -- Adamjee Insurance
Post by: mrbaig on March 11, 2014, 08:12:57 PM
Look at it's history, 77 to 108 it did.
Title: Re: AICL -- Adamjee Insurance
Post by: aliraza on March 11, 2014, 09:09:53 PM
Look at it's history, 77 to 108 it did.


only target 50 :biggthumpup:
Title: Re: AICL -- Adamjee Insurance
Post by: Ali135 on March 13, 2014, 09:59:45 PM
bm abhi tak announce nahi hoe..... :rtfm:
Title: Re: AICL -- Adamjee Insurance
Post by: aliraza on March 14, 2014, 11:17:22 AM
bm abhi tak announce nahi hoe..... :rtfm:

bm 20 march       


http://www.kse.com.pk/notices-updates/detail2.php?0.43723490691909184&id=4&nid=051910
Title: Re: AICL -- Adamjee Insurance
Post by: Saeed Muhammad on March 16, 2014, 05:59:02 PM
Ali Bhai any idea about AICL
Title: Re: AICL -- Adamjee Insurance
Post by: Saeed Muhammad on March 17, 2014, 03:46:42 PM
Koi senior plz advise
Title: Re: AICL -- Adamjee Insurance
Post by: aliraza on March 18, 2014, 01:54:37 PM
Koi senior plz advise

dividend day sakta haa
Title: Re: AICL -- Adamjee Insurance
Post by: Ali135 on March 19, 2014, 09:59:41 PM
anyone worked on its result?? whats the expected eps this time???  :thanks:
Title: Re: AICL -- Adamjee Insurance
Post by: CanBull on March 20, 2014, 12:14:44 AM
anyone worked on its result?? whats the expected eps this time???  :thanks:
EPS should be around 5  :thumbsup_anim:
Title: Re: AICL -- Adamjee Insurance
Post by: aliraza on March 20, 2014, 09:26:25 AM
anyone worked on its result?? whats the expected eps this time???  :thanks:
EPS should be around 5  :thumbsup_anim:

aaj aicl dance hona haaaa :thumbsup_anim:
Title: Re: AICL -- Adamjee Insurance
Post by: CanBull on March 20, 2014, 12:23:33 PM
anyone worked on its result?? whats the expected eps this time???  :thanks:
EPS should be around 5  :thumbsup_anim:

aaj aicl dance hona haaaa :thumbsup_anim:
Yes, Dance started now....   :dance :dance :dance
Title: Re: AICL -- Adamjee Insurance
Post by: umarm on March 20, 2014, 12:49:36 PM
BM ho gaee ha ? Whats the news
Title: Re: AICL -- Adamjee Insurance
Post by: aliraza on March 20, 2014, 01:52:58 PM
anyone worked on its result?? whats the expected eps this time???  :thanks:
EPS should be around 5  :thumbsup_anim:

aaj aicl dance hona haaaa :thumbsup_anim:
Yes, Dance started now....   :dance :dance :dance

result ka bad taheek dance ho gaaa :thumbsup_anim: :shoaby:
Title: Re: AICL -- Adamjee Insurance
Post by: ajaz115 on March 20, 2014, 02:08:43 PM
meeting in process ..... ALLAH BEHTAR HE KARAY GA
Title: Re: AICL -- Adamjee Insurance
Post by: Avi2013 on March 20, 2014, 02:25:20 PM
I short on 45.80  :tongue: :tongue:
Title: Re: AICL -- Adamjee Insurance
Post by: ajaz115 on March 20, 2014, 02:29:09 PM
YE TECHNIQUE BUHAT BEHTAR HAY...WESE DAILY BASIS KA GAME BETTER HOTA HAY AS HOLD
Title: Re: AICL -- Adamjee Insurance
Post by: ajaz115 on March 20, 2014, 03:54:23 PM
AICL   Adamjee Insurance Co. Ltd.    2014-03-20   2.00 P.M   Dec   CY13       5.62   10%(CY3)
Title: Re: AICL -- Adamjee Insurance
Post by: CanBull on March 20, 2014, 04:13:15 PM
AICL   Adamjee Insurance Co. Ltd.    2014-03-20   2.00 P.M   Dec   CY13       5.62   10%(CY3)
So EPS is as per expectation .....
Title: Re: AICL -- Adamjee Insurance
Post by: Ali135 on March 20, 2014, 05:25:08 PM
result to fit aya hai phir b itni maar perh gai.  :console:
Title: Re: AICL -- Adamjee Insurance
Post by: CanBull on March 20, 2014, 05:28:55 PM
result to fit aya hai phir b itni maar perh gai.  :console:
temporary maar hay.. But now it may break previous record in future ;)
Title: Re: AICL -- Adamjee Insurance
Post by: Ali135 on March 20, 2014, 05:32:32 PM
result to fit aya hai phir b itni maar perh gai.  :console:
temporary maar hay.. But now it may break previous record in future ;)

yes Inshah Allah.  :fingerscrossed1: im holding since last sept...... ::)
Title: Re: AICL -- Adamjee Insurance
Post by: SYB on March 20, 2014, 05:42:01 PM
Seems Overbought. needs correction  :skeptic:
Title: Re: AICL -- Adamjee Insurance
Post by: aliraza on March 20, 2014, 05:46:11 PM
Seems Overbought. needs correction  :skeptic:
[/quot

result to acha haaa kal dip ma buy kar sakte haa or hold rahkoo kuch nahee hota
Title: Re: AICL -- Adamjee Insurance
Post by: Salammembers on March 20, 2014, 09:12:21 PM
Seems Overbought. needs correction  :skeptic:
  agree, back to 40-41 possible or even lower , lets use cash elsewhere :rtfm:
Title: Re: AICL -- Adamjee Insurance
Post by: CanBull on March 20, 2014, 09:28:56 PM
Public sey maal nikalwana hay.. otherwise its result is good and its Mansha item too.... Good return in mid term
Title: Re: AICL -- Adamjee Insurance
Post by: Koolfire on March 21, 2014, 07:09:14 AM
Adamjee Insurance: reversal of fortune

March 21, 2014 BR Research 0 Comments E-mailPrintPDF
2013 marked the turnaround of fortune for Adamjee Insurance Company (AICL). By focusing on its core business, AICL was able to reverse its underwriting losses during the year.

What helped AICLs underwriting results land in green was its managements strategy to focus on quality portfolio that bore its fruits as net claims to net premium ratio declined significantly to 63 percent from 73 percent last year. Resultantly, AICL posted an underwriting profit of Rs136million vis-à-vis an underwriting loss of Rs412million in 2012. This significant drop in claims substantiates the view that the management has been successful in cleaning the insurance portfolio to a great extent.

In terms of segment-wise performance, the Company was able to reduce its underwriting losses in fire and property damage segment, from underwriting loss of Rs308million last year to underwriting loss of Rs55million.

In the meanwhile, AICLs healthy investment portfolio sugar-coated its bottom line as investment income generated a colossal gain of 77 percent during the year. Hence, investment income made up 43 percent of net premium revenue of AICL (2012: 23 percent).

Backed by improvement in claims ratio and a boost from investment income, profit after tax of AICL rose by over 3 times to Rs1.9billion from Rs628million in 2012. And along with this staggering performance, there was yet another reason for investors to smile as AICL announced a final cash dividend of Re1 in addition to Rs2.5 already paid out during the year.

http://www.brecorder.com/br-research/44:miscellaneous/4237:adamjee-insurance-reversal-of-fortune/
Title: Re: AICL -- Adamjee Insurance
Post by: ajaz115 on March 21, 2014, 03:19:24 PM
agar ye 45.10 toar day tu 46 bhe toar daiga
Title: Re: AICL -- Adamjee Insurance
Post by: MZ on March 21, 2014, 08:58:55 PM
FY13 results, fairly in line with expectation

Adamjee Insurance Company Limited (AICL) announced its FY13 financial result on Mar 20, 2014. AICL reported a profit after tax (PAT) of PKR1,966mn (Diluted EPS: PKR5.62) during FY13 against a profit after tax of PKR624mn (Diluted EPS: PKR5.05) during the last year. The company also announced a dividend per share of PKR1.0/- as Final Dividend for FY13, excluding PKR2.5 as interim dividend and a Bonus payout of 183%aprox against a dividend per share of PKR2.5/- during FY12.

 AHCML
Title: Re: AICL -- Adamjee Insurance
Post by: Ali135 on March 24, 2014, 11:48:24 AM
28 April 2014 at 1100 hours AGM b hai.
Title: Re: AICL -- Adamjee Insurance
Post by: Ali135 on March 27, 2014, 06:16:31 PM
Seems Overbought. needs correction  :skeptic:
  agree, back to 40-41 possible or even lower , lets use cash elsewhere :rtfm:

 :console: :console:
Title: Re: AICL -- Adamjee Insurance
Post by: Ali135 on April 08, 2014, 01:14:14 PM
Seems Overbought. needs correction  :skeptic:
  agree, back to 40-41 possible or even lower , lets use cash elsewhere :rtfm:

 :console: :console:

50 b aaj laga liya.....   :rtfm: :[
Title: Re: AICL -- Adamjee Insurance
Post by: SYB on April 08, 2014, 04:54:09 PM
 ;) :thumbsup_anim:
Seems Overbought. needs correction  :skeptic:
  agree, back to 40-41 possible or even lower , lets use cash elsewhere :rtfm:

 :console: :console:

50 b aaj laga liya.....   :rtfm: :[
Title: Re: AICL -- Adamjee Insurance
Post by: aliraza on April 08, 2014, 04:55:26 PM
Look at it's history, 77 to 108 it did.


only target 50 :biggthumpup:

target achiveee  :dance :dance :dance :dance :dance :dance :dance :biggthumpup: :thumbsup_anim:
Title: Re: AICL -- Adamjee Insurance
Post by: MZ on April 08, 2014, 06:07:08 PM
Adamjee Insurance: Target price revised upward/ ‘Buy’ maintained

We reiterate 'Buy' on Pakistan's 2nd largest non-life insurer i.e. Adamjee Insurance (AICL). Target price revision to Rs58 per share is mainly triggered due to recent Pakistan stock market performance and AICL’s updated portfolio as of Dec 31, 2013.

Despite 30%YTD price performance, the scrip is still trading at 21% (inclusive of dividend income) discount to our 12-month target price. Here we want to draw investor’s attention toward the investment portfolio which has market value of Rs21.8bn (Rs62 per share) out of which investment in MCB contributes Rs25 per share.

Besides improving gains from booming stock market, we expect underwriting business to revive in coming years on the back of economic recovery and improving manufacturing sector growth. At present, Pakistan non-life insurance penetration is 0.37% (total insurance penetration 0.93%), one of the lowest in the region. For 2014, we expect EPS of Rs4.3 which is lower than 2013 EPS of Rs5.6 as the latter included one-time capital gain related to Unilever Pakistan (ULEVER) buyback.

Topline
Title: Re: AICL -- Adamjee Insurance
Post by: Adil. on April 08, 2014, 09:19:50 PM
Seniors , Exit price recommendation ?
Title: Re: AICL -- Adamjee Insurance
Post by: Murtaza8888 on April 09, 2014, 12:47:16 AM
Seniors , Exit price recommendation ?

I am not senior but my idea sell AICL on 52.70
Title: Re: AICL -- Adamjee Insurance
Post by: aliraza on April 09, 2014, 05:26:37 PM
Look at it's history, 77 to 108 it did.


only target 50 :biggthumpup:

target achiveee  :dance :dance :dance :dance :dance :dance :dance :biggthumpup: :thumbsup_anim:

aaj sell kar deya aicl  :dance :dance :dance :dance :shoaby: :thumbsup_anim:
Title: Re: AICL -- Adamjee Insurance
Post by: jay on April 11, 2014, 09:58:12 AM
now it is in negitive since last 2 to 3 days when all mkt is up. reason kia hai?
Title: Re: AICL -- Adamjee Insurance
Post by: Ali135 on April 15, 2014, 06:31:36 PM
aaj is ki b ho gai theek thak dhulai. goray nay kaheen is mai b to profit taking nahi ki????  :skeptic:
Title: Re: AICL -- Adamjee Insurance
Post by: jay on April 18, 2014, 06:46:33 PM
kb chalay ga yeh!!!!!!!!!!
Title: Re: AICL -- Adamjee Insurance
Post by: akhterrasool on April 18, 2014, 07:12:21 PM
kb chalay ga yeh!!!!!!!!!!

Buhat mushkil sawal hei
Title: Re: AICL -- Adamjee Insurance
Post by: Ali135 on April 30, 2014, 01:17:01 PM
1st quarter eps 1.8

http://www.kse.com.pk/newsattachment/054119.pdf
Title: Re: AICL -- Adamjee Insurance
Post by: MZ on May 01, 2014, 08:46:45 AM
AICL: a dicey start!

The start of CY14 has proved to be encouraging for non-life insurers in Pakistan. However, the same cannot be said for Adamjee Insurance (KSE: AICL), a notable private sector non-life insurer. The company faced a downturn in 1Q CY14, witnessing a 10 percent year-on-year decline in bottom line.

This decline is attributable to shrinking underwriting results together with contraction in investment income during this period.

Net premium revenue of the company remained on the higher side, rising by 17 percent year on year in 1Q CY14. Moreover, it looks like the company has continued its strategy of maintaining a quality portfolio as net claims ratio (net claims to net premiums) boasted an improvement of 100bps during the period.

However, AICLs motor insurance segment, which had been the star performer in 2013, happened to be the main loser in AICLs portfolio, posting a gigantic loss of Rs84 million in 1Q CY14 owing to a substantial rise in net claims.

==================================================
Adamjee Insurance Company Limited
==================================================
Rs (mn)                           1QCY13    1QCY14      chg
==================================================
Net premium revenue       1,309     1,530      17%
Net claims                      (825)     (947)      15%
Expenses                       (351)     (422)      20%
Net commission             (87)     (127)      46%
Underwriting result          46        34     -26%
Investment income           709       702      -1%
Profit after taxation          700       629     -10%
EPS (Rs)                         2.0       1.8
Net claims ratio             -63%      -62%
==================================================
Title: Re: AICL -- Adamjee Insurance
Post by: MZ on May 02, 2014, 10:26:34 PM
Adamjee Insurance – Robust 1QCY14 premiums!!!
Adamjee Insurance Limited (AICL) announced 1QCY14 results on where the company posted earnings of Rs 628.3mn resulting EPS of Rs 1.80/share. 1QCY14 depicted strong q-o-q increase in net premium revenues by 17%.

The thrust of increase in premium revenues is due to increase in local operations and increase in market share. Though 1QCY14 showed lower profits of Rs 628.3mn compared to the Rs 701.3mn in the corresponding period last year due to increase in claims which resulted weak underwriting results.
AICL has increased its market share in UAE resulting increase in premium revenues.
AICL outperform in local and UAE operations deciphering 22% and 5% increase in premium revenue.
Valuation – PE 6.7x is attractive among peers
AICL has attractive PE of 6.7x among big non life insurers.
We maintain BUY ~ AICL deciphers PE of 6.7x & PBV of 0.67x.

SCS
Title: Re: AICL -- Adamjee Insurance
Post by: Ali135 on May 04, 2014, 12:36:45 AM
Adamjee Insurance – Robust 1QCY14 premiums!!!
Adamjee Insurance Limited (AICL) announced 1QCY14 results on where the company posted earnings of Rs 628.3mn resulting EPS of Rs 1.80/share. 1QCY14 depicted strong q-o-q increase in net premium revenues by 17%.

The thrust of increase in premium revenues is due to increase in local operations and increase in market share. Though 1QCY14 showed lower profits of Rs 628.3mn compared to the Rs 701.3mn in the corresponding period last year due to increase in claims which resulted weak underwriting results.
AICL has increased its market share in UAE resulting increase in premium revenues.
AICL outperform in local and UAE operations deciphering 22% and 5% increase in premium revenue.
Valuation – PE 6.7x is attractive among peers
AICL has attractive PE of 6.7x among big non life insurers.
We maintain BUY ~ AICL deciphers PE of 6.7x & PBV of 0.67x.

SCS

laoo new high. december 14 tak laooo 60+
Title: Re: AICL -- Adamjee Insurance
Post by: Kashif.toufiq on May 09, 2014, 12:08:52 AM
News about to come , TP 55
Title: Re: AICL -- Adamjee Insurance
Post by: Ali135 on May 09, 2014, 05:47:01 AM
News about to come , TP 55

wt news????  :thanks:
Title: Re: AICL -- Adamjee Insurance
Post by: MZ on May 20, 2014, 05:29:31 PM
Adamjee Insurance Company Limited target price revised to Rs50, upgrade to ‘Hold’

We raise our 2014E earning estimate for Adamjee Insurance Company Limited (AICL) to Rs7.28 per share from Rs6.58 per share on the back of higher than expected 1Q2014 investment income (gains from sale of investment and dividend from associates).

That said, core business remained under pressure as the underwriting business reported a nominal profit of Rs35mn, down 25%YoY. Nevertheless, we anticipate gradual recovery in core business to further support the bottom line in 2014.

In tandem we also raise our Target Price to Rs50 from Rs42 earlier. Hence, we upgrade AICL by one notch to ‘Hold’ from ‘Sell’ earlier.

1Q2014 financial review

AICL’s 1Q2014 bottom line declined by 10%YoY (to Rs628mn) as company’s underwriting business came under pressure. Although net premiums out grew net claims, higher expenses and net commission put pressure on the core business as the company reported a 25%YoY lower underwriting profit. Claims ratio fell to 61.8% in 1Q2014 down 120 bp YoY while combined ratio fell by 40 bp to 89.4% which somewhat supported the underwriting results. Apart from this, the company reported healthy investment income of Rs702mn, although down 1%YoY. As a result, AICL posted earnings of Rs1.7bn (EPS: Rs1.80) in 1Q2014, down 10%YoY.

Earnings raised on better investment income

We raise our 2014E earnings estimate for AICL to Rs7.28 per share, up 11% from our earlier estimate of Rs6.58 per share on the back of upward revision in our investment income estimate (post higher than anticipated investment income in 1Q2014). That said, we also anticipate core business to recover gradually in the next quarters with underwriting business expected to post a profit of Rs435mn in 2014. At the same time, we also revise up 2015F earnings to Rs8.46 per share as well (+16% YoY). In tandem with revision in earnings estimates we also raise our target price for AICL to Rs50 from Rs42 earlier. Offering only a limited upside of ~6% to our revised target price, we upgrade AICL by a single notch to ‘Hold’ from a ‘Sell’ earlier.

js
Title: Re: AICL -- Adamjee Insurance
Post by: Ali135 on May 20, 2014, 08:10:24 PM
Adamjee Insurance Company Limited target price revised to Rs50, upgrade to ‘Hold’

We raise our 2014E earning estimate for Adamjee Insurance Company Limited (AICL) to Rs7.28 per share from Rs6.58 per share on the back of higher than expected 1Q2014 investment income (gains from sale of investment and dividend from associates).

That said, core business remained under pressure as the underwriting business reported a nominal profit of Rs35mn, down 25%YoY. Nevertheless, we anticipate gradual recovery in core business to further support the bottom line in 2014.

In tandem we also raise our Target Price to Rs50 from Rs42 earlier. Hence, we upgrade AICL by one notch to ‘Hold’ from ‘Sell’ earlier.

1Q2014 financial review

AICL’s 1Q2014 bottom line declined by 10%YoY (to Rs628mn) as company’s underwriting business came under pressure. Although net premiums out grew net claims, higher expenses and net commission put pressure on the core business as the company reported a 25%YoY lower underwriting profit. Claims ratio fell to 61.8% in 1Q2014 down 120 bp YoY while combined ratio fell by 40 bp to 89.4% which somewhat supported the underwriting results. Apart from this, the company reported healthy investment income of Rs702mn, although down 1%YoY. As a result, AICL posted earnings of Rs1.7bn (EPS: Rs1.80) in 1Q2014, down 10%YoY.

Earnings raised on better investment income

We raise our 2014E earnings estimate for AICL to Rs7.28 per share, up 11% from our earlier estimate of Rs6.58 per share on the back of upward revision in our investment income estimate (post higher than anticipated investment income in 1Q2014). That said, we also anticipate core business to recover gradually in the next quarters with underwriting business expected to post a profit of Rs435mn in 2014. At the same time, we also revise up 2015F earnings to Rs8.46 per share as well (+16% YoY). In tandem with revision in earnings estimates we also raise our target price for AICL to Rs50 from Rs42 earlier. Offering only a limited upside of ~6% to our revised target price, we upgrade AICL by a single notch to ‘Hold’ from a ‘Sell’ earlier.

js

man gaye js uncle, pehlay maal liya janta say nechay ab revised tp. :)
Title: Re: AICL -- Adamjee Insurance
Post by: Koolfire on June 09, 2014, 08:23:42 PM
(http://kse.com.pk/newsimage/55107-3.gif)
Title: Re: AICL -- Adamjee Insurance
Post by: Ali135 on June 10, 2014, 12:04:52 AM
(http://kse.com.pk/newsimage/55107-3.gif)

impact on AICL??
Title: Re: AICL -- Adamjee Insurance
Post by: MZ on June 10, 2014, 08:20:53 AM
http://tribune.com.pk/story/719579/adamjee-insurance-to-acquire-sgic/
Title: Re: AICL -- Adamjee Insurance
Post by: MZ on July 04, 2014, 03:08:28 PM
AICL acquiring 5.4pc stake in Security General Insurance Company

Adamjee Insurance intends to acquire 3.6 million ordinary shares of Rs10 each of SGIC, at a maximum
price of PKR95 per share, however the book value per share of the company, as per the latest annual
accounts, stands at PKR 116.00. Additionally the market value of company’s investment portfolio
stands at PKR 15,728mn translating into a per share value of PKR 231.10 as on July 3, 2014.
The deal bodes favourably for the AICL; however, it may be assumed that such an acquisition may not
be purely from the core business point of view but more related to strategic cross holdings as both
the companies are part of the Nishat Group.
Valuation
We have arrived at a SOP based value of PKR63.25per share; which includes DCF based fair value of
its core operations (insurance business) of PKR14.38 and a portfolio value of PKR48.87.
Furthermore, we have applied a 25pc discount on the market price of quoted equity investments
(excluding companies under coverage?for which we have used our model based fair values) and
investments in Government securities and in unquoted companies (associates) have been taken at
carrying value in the balance sheet thereby arriving at the appropriate value of company’s invested portfolio.

AHCML
Title: Re: AICL -- Adamjee Insurance
Post by: Irfan on July 23, 2014, 04:09:48 PM
Mazeed Buy kerna ka Mood ban reha ha .. Kahan tak buy kerna chaihe ? Dil tu 45 tak ka ha , par koye acha estimate beta da?
Title: Re: AICL -- Adamjee Insurance
Post by: MZ on August 27, 2014, 10:22:02 PM
Adamjee Insurance in dire straits

Adamjee Insurance (KSE: AICL) is witnessing its fortunes slip this year. With investment income losing luster and net claims touching the skies, AICLs bottom line dwindled by 44 percent year on year in 1H CY14.

In terms of premiums, AICLs insurance business is growing with its net premiums rising 13 percent year on year in 1H CY14. However, poor quality of insurance portfolio has continued to thwart the fate of AICLs profitability. This time again, burgeoning claims wiped out the gains from rising premiums.

Claims ratio (net claims/net premiums) surged by a whopping 400 basis points, whereas combined ratio, which takes into account claims, commission and expenses, soared to 99 percent (1H CY13: 95 percent). Consequently, underwriting profits slipped by a massive 76 percent.

AICL derives bulk of its premiums from motor segment (45 percent in 1H CY14), where, despite the managements efforts of limiting losses, the segment once again landed in red by posting an underwriting loss of Rs80 million in 1H CY14. Thats after accounting for the segments underwriting profit of Rs4.8 million in 2Q CY14. In addition to motor segment, however, mounting claims in marine, aviation and transport segments also kept a lid on AICLs bottom line.

Meanwhile, AICLs investment managers also contributed to the company's dwindling performance in the half year ended June 2014. Investment income fell by Rs655 million or 39 percent year on year in 1H CY14.

It should be kept in mind that the companys investment portfolio holds some red flags. Taking a clue from 2013 financials, the portfolio is highly skewed towards equities (71 percent holding). This is quite contrary to industry-wide norms where the share of equities is restricted in the range of 20-50 percent.

High dependence on equities makes the company vulnerable to stock market fluctuations. Limiting equity exposure and balancing the investment exposure between equities and fixed income securities will lend a hand in limiting the volatile nature of AICLs profitability in coming times. Though of course, cleaning up the insurance portfolio would also be a good idea.

==============================================================
Adamjee Insurance
==============================================================
Rs (mn)                                     1HCY13      1HCY14         chg
==============================================================
Net premium revenue              2,710       3,055         13%
Net claims                               -1,642      -1,981         21%
Expenses                                -765        -847         11%
Net commission                       -176        -196         11%
Underwriting result                  127          31        -76%
Investment income                  1,673       1,018        -39%
Other income                            67          50        -25%
General & admin expenses          -158        -169          7%
Profit before taxation               1,710         930        -46%
Tax                                         -200         -86        -57%
Profit after taxation                1,510         844        -44%
EPS (Rs)                                 4.32        2.41
==============================================================
Title: Re: AICL -- Adamjee Insurance
Post by: NoorMaier on September 15, 2014, 09:20:24 AM
Check AICL Analysis on this link http://noormaier.net/kse-analysis/aicl-adam-ji-insurace-limited-analysis-15-sep-2014/
Title: Re: AICL -- Adamjee Insurance
Post by: misterjaved on September 23, 2014, 08:06:36 PM
Dear seniors

any target about AICL ?
Title: Re: AICL -- Adamjee Insurance
Post by: dhoom on September 23, 2014, 08:58:36 PM
withen next 3 days should be 50.
Title: Re: AICL -- Adamjee Insurance
Post by: nadeemkhaliq on September 23, 2014, 09:21:41 PM
Agreed
Title: Re: AICL -- Adamjee Insurance
Post by: sabir.hussain on September 24, 2014, 11:58:21 AM
buy
Title: Re: AICL -- Adamjee Insurance
Post by: sabir.hussain on September 24, 2014, 08:30:01 PM
voluemesto khoob laga hay aaj ;)
Title: Re: AICL -- Adamjee Insurance
Post by: MZ on October 28, 2014, 11:20:29 PM
http://www.kse.com.pk/newsattachment/059672.pdf
Title: Re: AICL -- Adamjee Insurance
Post by: Sharoze123 on November 11, 2014, 12:50:43 AM
Company really needs to improve it's insurance portfolio,customer screening, and especially pricing. Fazool claims ratio and underwriting margins as compared to the other top insurers and lackluster performance on the investment side.
I expect Adamjee to improve going on from here.
Title: Re: AICL -- Adamjee Insurance
Post by: SBM on November 11, 2014, 12:57:29 AM
Company really needs to improve it's insurance portfolio,customer screening, and especially pricing. Fazool claims ratio and underwriting margins as compared to the other top insurers and lackluster performance on the investment side.
I expect Adamjee to improve going on from here.

They keep rates low to fight for market share and agents get commission etc
Its an industry wide ississue.
Even if u look at portfolio returns they aren't that impressive.. Waste of shareholders money.
Title: Re: AICL -- Adamjee Insurance
Post by: Farooq Qadir on December 09, 2014, 04:48:06 PM

Suggest for  buy. Most under performed bluechip. :biggthumpup:
Title: Re: AICL -- Adamjee Insurance
Post by: valor123 on December 09, 2014, 10:41:48 PM
for the time being hovering between support and resistance....... only way left for it is to cross resistance and touch new highs, 60....65....70.....75.. month on month basis
Title: Re: AICL -- Adamjee Insurance
Post by: Farooq Qadir on December 09, 2014, 11:40:34 PM
Quote from: valor123 link=to :clap1:d resistance....... only way left for it is to cross resistance and touch new highs, 60....65....70.....75.. month on month basis
[/quote

Supply tu zada honee hee hai itnay baray right issue kay baat. But important is demand, which is increasing day by day. Inshahallah 53 key resistance break ho gee within few days. phir :....55...60 .    i m in AICL. : :fingerscrossed1:
Title: Re: AICL -- Adamjee Insurance
Post by: Salammembers on December 16, 2014, 01:12:07 AM
dont ignore aicl,
its a `must` item for investor at present.
broker got very big buy order for aicl in 49-50 range,
TA Guru bola jis din 53 tota and sustained tu uss din crawl will b replaced by
high powered aeroplance engine 
dhaiktaay haay but buy tu dikhta haay :bangin: :bangin: :bangin:
Title: Re: AICL -- Adamjee Insurance
Post by: aleeimran on December 27, 2014, 01:09:16 AM
Kasb has been given buy call continuously from some time approx from one & half month at 49 - 50 with TP 57.............Nadeem bhai, can you pls advice or give ur feedback on AICL.
Title: Re: AICL -- Adamjee Insurance
Post by: valor123 on January 01, 2015, 09:39:14 AM
poora December till end of year 50 ke aas paas raha, januaray mai 55 cross karna chaheay inshaAllah
Title: Re: AICL -- Adamjee Insurance
Post by: Farooq Qadir on January 01, 2015, 05:11:27 PM
poora December till end of year 50 ke aas paas raha, januaray mai 55 cross karna chaheay inshaAllah

App key wish inshahallah jan main ho jayay gee. Party has been started. :biggthumpup:
Title: Re: AICL -- Adamjee Insurance
Post by: valor123 on January 01, 2015, 05:26:35 PM
poora December till end of year 50 ke aas paas raha, januaray mai 55 cross karna chaheay inshaAllah

App key wish inshahallah jan main ho jayay gee. Party has been started. :biggthumpup:
aapke muhn mai desi ghee aur walayati cheeni    :s1:
Title: Re: AICL -- Adamjee Insurance
Post by: 007 on January 14, 2015, 11:39:44 PM
kal cap kar doo isko phir
Title: Re: AICL -- Adamjee Insurance
Post by: Adil. on January 14, 2015, 11:45:16 PM
 :biggthumpup: waiting waiting .. . . .
Title: Re: AICL -- Adamjee Insurance
Post by: 007 on January 19, 2015, 05:48:55 PM
sold fut bot at 51.70 at 53.65

I will take re entry in dip or in feb contract
Title: Re: AICL -- Adamjee Insurance
Post by: hamid78 on January 19, 2015, 11:06:50 PM
this damn share is really testing the nerves. market kahan se kahan chali gyi and it is still hovering in 1,2 rupees range. but any time it can move up
Title: Re: AICL -- Adamjee Insurance
Post by: aleeimran on January 20, 2015, 12:19:52 AM
this damn share is really testing the nerves. market kahan se kahan chali gyi and it is still hovering in 1,2 rupees range. but any time it can move up
kch nhi to isko bchon jaisay Ceni (century insurance 18 sa 28) yah AGIC (Askari Insurance 18 -35) sa hi ghairat seekh leni cahye.........
Title: Re: AICL -- Adamjee Insurance
Post by: aleeimran on January 20, 2015, 12:21:55 AM
this damn share is really testing the nerves. market kahan se kahan chali gyi and it is still hovering in 1,2 rupees range. but any time it can move up
kch nhi to isko bchon jaisay Ceni (century insurance 18 sa 28) yah AGIC (Askari Insurance 18 -35) sa hi ghairat seekh leni cahye.........
heard and sure that some big house(s) has it's big holdings and playing with it........don't want any mall in janta hands before it shoot up
Title: Re: AICL -- Adamjee Insurance
Post by: 007 on January 26, 2015, 12:47:34 PM
yeah disappointing performance today
Title: Re: AICL -- Adamjee Insurance
Post by: msssuhaque on January 27, 2015, 12:18:54 PM
bhai chala do issay..
Title: Re: AICL -- Adamjee Insurance
Post by: aleeimran on January 29, 2015, 03:23:20 PM
time has come to gain momentum to achieve TP 57 and then 60+................ :dance :dance :dance :dance :dance :dance
Title: Re: AICL -- Adamjee Insurance
Post by: Hamid Mamraiz on January 29, 2015, 03:39:18 PM
Ali Munir kicked out  .... Lao AICL
Title: Re: AICL -- Adamjee Insurance
Post by: sumbul on January 29, 2015, 04:26:58 PM
Ali Munir kicked out  .... Lao AICL

Who is Ali Munir and what will be impact of his dismisal from AICL  :confused1:
Title: Re: AICL -- Adamjee Insurance
Post by: SBM on January 29, 2015, 05:39:37 PM
Ali Munir kicked out  .... Lao AICL

Who is Ali Munir and what will be impact of his dismisal from AICL  :confused1:
http://www.kse.com.pk/notices-updates/detail2.php?id=4&nid=061987&qsid=568
Title: Re: AICL -- Adamjee Insurance
Post by: Adil. on January 29, 2015, 07:58:59 PM
Shuker hai iss ko b sharam aye
Title: Re: AICL -- Adamjee Insurance
Post by: 007 on March 10, 2015, 10:19:11 AM
result kab hai  :down:

any news
Title: Re: AICL -- Adamjee Insurance
Post by: aabbas on March 13, 2015, 04:18:49 PM
19-03-2015 Board Meeting
Title: Re: AICL -- Adamjee Insurance
Post by: msssuhaque on March 13, 2015, 06:29:32 PM
Expected result?
Title: Re: AICL -- Adamjee Insurance
Post by: alishahid84 on March 13, 2015, 09:22:11 PM
Seniors please advise whether buying is recommended at current levels? It has come down more than 10%.

Also what are the expected results?
Title: Re: AICL -- Adamjee Insurance
Post by: Saeed Muhammad on March 17, 2015, 03:48:21 PM
Seniors pleae what are the expected results?
Title: Re: AICL -- Adamjee Insurance
Post by: 007 on March 17, 2015, 04:56:24 PM
continued its free fall with very low volumes
Title: Re: AICL -- Adamjee Insurance
Post by: Avi2013 on March 18, 2015, 09:56:41 AM
Kal result hai.....
54 ka maal para hau bhaiyon...kuch umeed hai 55+ ki ???? :skeptic: :skeptic:
Title: Re: AICL -- Adamjee Insurance
Post by: mrbaig on March 18, 2015, 04:34:18 PM
Mal ko agley sal k liye rakh lo hifazat sey.
Title: Re: AICL -- Adamjee Insurance
Post by: 007 on March 18, 2015, 06:09:41 PM
what is expected in aicl

payout and eps
Title: Re: AICL -- Adamjee Insurance
Post by: Avi2013 on March 18, 2015, 06:38:40 PM
Kuch samaj nahe ah raha bond bhai  :dunno:
Title: Re: AICL -- Adamjee Insurance
Post by: Adil. on March 18, 2015, 08:37:35 PM
Lai doooba ye share sara profit . I personally feel 15-20 % Dps at max
Title: Re: AICL -- Adamjee Insurance
Post by: aleeimran on March 18, 2015, 10:38:49 PM
Lai doooba ye share sara profit . I personally feel 15-20 % Dps at max
i think the current scenario has some how prolonged the holding from short to mid term.......i have not found it a trading rather a investment share............just need to hold it for atleast 6 months and if it gives 20% div then enjoy the dividend and hold till 2nd Qtr'15 results.......u won't be in loss.   
Title: Re: AICL -- Adamjee Insurance
Post by: aliraza on March 18, 2015, 10:40:29 PM
Kuch samaj nahe ah raha bond bhai  :dunno:

hold rahk looo 15% dividend lagta haa agar aa gay to boom boom  ho jaye gaaaa
Title: Re: AICL -- Adamjee Insurance
Post by: aleeimran on March 18, 2015, 10:52:14 PM
Kuch samaj nahe ah raha bond bhai  :dunno:

hold rahk looo 15% dividend lagta haa agar aa gay to boom boom  ho jaye gaaaa
15% - 18% final cash div with EPS of 6 - 6.5 per share expected..................let's see what happens
Title: Re: AICL -- Adamjee Insurance
Post by: 007 on March 19, 2015, 07:38:18 AM
Has come down so much
Title: Re: AICL -- Adamjee Insurance
Post by: Avi2013 on March 19, 2015, 04:17:38 PM
 huhu huhu huhu huhu huhu huhu huhu huhu
Title: Re: AICL -- Adamjee Insurance
Post by: mrbaig on March 19, 2015, 04:40:21 PM
15% diya hey. Ab Kahan tak ja sakta hey?
Title: Re: AICL -- Adamjee Insurance
Post by: Avi2013 on March 19, 2015, 04:43:03 PM
Bhai yeh to necha he ja raha hai  huhu
Title: Re: AICL -- Adamjee Insurance
Post by: aliraza on March 19, 2015, 05:08:29 PM
Kuch samaj nahe ah raha bond bhai  :dunno:

hold rahk looo 15% dividend lagta haa agar aa gay to boom boom  ho jaye gaaaa

mrkt sentiment kharab haa varna dps to acha aa gay haaaaaa
Title: Re: AICL -- Adamjee Insurance
Post by: 007 on March 19, 2015, 05:26:41 PM
below par result hai

Title: Re: AICL -- Adamjee Insurance
Post by: Avi2013 on March 19, 2015, 05:57:29 PM
below par result hai



Agree....Result acha nahe....kal b shahid yeh lower lock ho
Title: Re: AICL -- Adamjee Insurance
Post by: aleeimran on March 19, 2015, 06:04:38 PM
below par result hai



Agree....Result acha nahe....kal b shahid yeh lower lock ho
result is though below consensus but payout is reasonable compared to Mansha's group of companies, as soon as market settles down it will again reach to 50...............there is no need to worry about..........just hold now & enjoy the dividend.
Title: Re: AICL -- Adamjee Insurance
Post by: aleeimran on March 19, 2015, 06:09:23 PM
below par result hai



Agree....Result acha nahe....kal b shahid yeh lower lock ho
result is though below consensus but payout is reasonable compared to Mansha's group of companies, as soon as market settles down it will again reach to 50...............there is no need to worry about..........just hold now & enjoy the dividend.
i bought it @ avg of 52 3 months ago and still no worries in presence of 15% cash div.......however if there would be no div along with the results then that would be really alarming & worrisome.
Title: Re: AICL -- Adamjee Insurance
Post by: Avi2013 on March 20, 2015, 03:05:24 AM
Hope kal recover kar jae  :crying_anim02:
Title: Re: AICL -- Adamjee Insurance
Post by: aleeimran on March 20, 2015, 10:14:44 PM
When it comes to premiums, Adamjee Insurance Company Limited (AICL) has been doing a fantastic job of late; far better than its peers! Although a double-digit top line growth seems to be an unusual trait even for the bigger players in the non-life sector, Adamjee Insurance has proven to be an exception by managing to deliver strong top line growth throughout the year.

To recall,

CY14 turned out to be a tough year for non-life insurers, where growth in premiums stayed modest. But for Adamjee Insurance- the second largest private non-life insurer – strengthening top line was the saviour. Here, the rise in claims is the outcome of aggressive growth in premiums. Claims ratio surged by 200bps to 65 percent in CY14. If it’s not due to some one-off loss incurred during the year, the management might have to keep a check on its claims expenses to sustain its profitability in years to come. And with continuous book-cleaning exercises, the company can score well.
Barring accident and health business, all segments landed in profits this year. This beefed up the aggregate underwriting profit of the company to Rs369 million, thus boasting a whopping rise of nearly 2.7 times over the preceding year.

Unlike 2013,

When the firm feasted on its healthy investment income, CY14 saw its investment income declining by Rs296 million (or 13 percent), thus eating away the underwriting gains. This took the investment income ratio down significantly to 33 percent from 43 percent in the previous year. Dwindling income from investments together with ballooning expenses hampered the growth in bottom line. Resultantly, net profitability slid by 4 percent during the year – a decline that came into sight following two years of exceptional performance journey of Adamjee Insurance.
Yet, there was a silver lining for its shareholders: the company announced a final cash dividend of Rs1.50 per share. This is apart from the interim dividend of Rs1.25 per share already doled out by the company during the year.
Title: Re: AICL -- Adamjee Insurance
Post by: Sharoze123 on April 02, 2015, 03:36:18 AM
Finally took a good look at this company.

Firstly an asset based approach: The book value after being market adjusted is 63 rupees/share as at September accounts.  This amount is will be lower as of today, since AICL's biggest investments are in the banking sector, specifically MCB, NBP, BAHL and ABL Followed by LPL and PKGP.  However, these details are from the accounts of 2013,  have significantly changed since they sale and buy back a lot of investments so as to record gains on them. Since they reduced related party investments by 2bn and other listed investments by 3.6bn But I doubt they would have sold much of MCB, being a group company and a somewhat strategic investment.
The portfolio seems good enough, the good things is that they keep shuffling. Although I'm surprised why they didn't load up on PIB's, seemed like very low risk gains at that time.

Now coming to the underwriting bit,  combined ratio is 94%, improvement from last year but still wayy behind it's biggest competitor- EFUG which is at 80%. But Adamjee has a bigger portfolio since it's more focused on equities where as EFUG has made and profited from a bigger position in government securities. Thus AICL has a strong investment income core with an investment income of 2bn, something EFUG can't do since the biggest investment is in EFUG on which it cant realize gains. What AICL has performed better is in written premium, the growth is certainly amazing. But claims have shot up as well, underwriting profits could swell up considerably if AICL manages to keep claims under control this year. The situation will become clearer with the first quarter results and detailed end of year accounts.

It's one of the top insurers and has a huge capital base, allowing it to retain services of better and much more reliable foreign re-insurers. Coupled with good cash balances to see unforseen claims. I wish there was someway to obtain detailed information about it's loss reserve ratios, that would surely go a long way in identifying how accurately management has been able to reserve in the past and in differentiating how much IBNR's are really there.

Applying a cash based valuation to this company is not a skill I have. Neither can I apply a dividend based valuation. So the simplest option available to me right now is a price earnings model. As for whether earnings are maintainable, a large part depends on the amount of claims this year. But so far I'm sure they will be. The other major insurers trade above multiples of ten. I'm targeting initial TP of around fifty-five. Further revisions depend upon detailed accounts and first quarter results.
Title: Re: AICL -- Adamjee Insurance
Post by: alishahid84 on April 02, 2015, 04:56:10 AM
Finally took a good look at this company.

Firstly an asset based approach: The book value after being market adjusted is 63 rupees/share as at September accounts.  This amount is will be lower as of today, since AICL's biggest investments are in the banking sector, specifically MCB, NBP, BAHL and ABL Followed by LPL and PKGP.  However, these details are from the accounts of 2013,  have significantly changed since they sale and buy back a lot of investments so as to record gains on them. Since they reduced related party investments by 2bn and other listed investments by 3.6bn But I doubt they would have sold much of MCB, being a group company and a somewhat strategic investment.
The portfolio seems good enough, the good things is that they keep shuffling. Although I'm surprised why they didn't load up on PIB's, seemed like very low risk gains at that time.

Now coming to the underwriting bit,  combined ratio is 94%, improvement from last year but still wayy behind it's biggest competitor- EFUG which is at 80%. But Adamjee has a bigger portfolio since it's more focused on equities where as EFUG has made and profited from a bigger position in government securities. Thus AICL has a strong investment income core with an investment income of 2bn, something EFUG can't do since the biggest investment is in EFUG on which it cant realize gains. What AICL has performed better is in written premium, the growth is certainly amazing. But claims have shot up as well, underwriting profits could swell up considerably if AICL manages to keep claims under control this year. The situation will become clearer with the first quarter results and detailed end of year accounts.

It's one of the top insurers and has a huge capital base, allowing it to retain services of better and much more reliable foreign re-insurers. Coupled with good cash balances to see unforseen claims. I wish there was someway to obtain detailed information about it's loss reserve ratios, that would surely go a long way in identifying how accurately management has been able to reserve in the past and in differentiating how much IBNR's are really there.

Applying a cash based valuation to this company is not a skill I have. Neither can I apply a dividend based valuation. So the simplest option available to me right now is a price earnings model. As for whether earnings are maintainable, a large part depends on the amount of claims this year. But so far I'm sure they will be. The other major insurers trade above multiples of ten. I'm targeting initial TP of around fifty-five. Further revisions depend upon detailed accounts and first quarter results.

Thanks for sharing your research. Loss ratios would be easily calculable if one knows the underwriting profit, earned premiums and the change in Reserves over the year.

Based on your analysis, do all the insurers trade at P/B multiples below 1?
Title: Re: AICL -- Adamjee Insurance
Post by: Noraiz on April 11, 2015, 11:04:17 AM
Should I buy AICL at current level for investment of 6 or more months? what is the target price?
Title: Re: AICL -- Adamjee Insurance
Post by: msssuhaque on April 24, 2015, 08:10:00 PM
had boarding meeting today. Any update on result?
Title: Re: AICL -- Adamjee Insurance
Post by: msssuhaque on April 26, 2015, 05:33:38 PM
2.11 eps as compared to 1.80 in same quarter last year. is it a buy? and whats the tp?
Title: Re: AICL -- Adamjee Insurance
Post by: salmankaramat on April 27, 2015, 11:09:14 AM
Pals, buy Adamjee with a TP of 60 ( to be achieved very soon)
Title: Re: AICL -- Adamjee Insurance
Post by: LuqmanRafiq1 on April 27, 2015, 09:22:00 PM
Pals, buy Adamjee with a TP of 60 ( to be achieved very soon)
Salman sb ... Very soon se kya murad ha ?
Title: Re: AICL -- Adamjee Insurance
Post by: salmankaramat on April 28, 2015, 12:16:36 AM
Luqman bhai, in stock market's term very soon means 1 to 3 months.
Title: Re: AICL -- Adamjee Insurance
Post by: msssuhaque on May 07, 2015, 02:12:36 PM
bhai kya scene hai.. chala do is ko bhi...
Title: Re: AICL -- Adamjee Insurance
Post by: Stock_hunt on May 07, 2015, 04:47:00 PM
is at attractive rate...target 50 is achievable in short term
Title: Re: AICL -- Adamjee Insurance
Post by: aleeimran on May 21, 2015, 09:42:25 PM
http://investorguide360.com/wp-content/uploads/2015/05/AICL-By-Icon-Capital.pdf
TP 62
Title: Re: AICL -- Adamjee Insurance
Post by: Stock_hunt on May 21, 2015, 10:08:04 PM
short term 50 acievable
Title: Re: AICL -- Adamjee Insurance
Post by: LuqmanRafiq1 on May 21, 2015, 11:14:17 PM
short term 50 acievable
Short term means .... 2 weeks or more ?
Title: Re: AICL -- Adamjee Insurance
Post by: Stock_hunt on May 22, 2015, 12:20:38 AM
aicl follow kse index...just 4 days of taizi needed aicl to hit 50
Title: Re: AICL -- Adamjee Insurance
Post by: msssuhaque on May 29, 2015, 11:13:19 AM
Bhai issi saal dividend daina hai?

mazaq hie ho giya...
Title: Re: AICL -- Adamjee Insurance
Post by: aleeimran on May 30, 2015, 12:59:14 PM
Bhai issi saal dividend daina hai?

mazaq hie ho giya...
just recvd the dividend warrant............................
Title: Re: AICL -- Adamjee Insurance
Post by: Farooq Qadir on June 01, 2015, 01:46:38 PM

Bhai yeh Market kay sath kun move nehain kar raha .. huhu :mad:
Title: Re: AICL -- Adamjee Insurance
Post by: DEVDAS on June 01, 2015, 09:47:43 PM

Bhai yeh Market kay sath kun move nehain kar raha .. huhu :mad:
Keeping in view its last result, inshallah 50 to 55+ is 100% sure. I think intentionally left so. Just to add, I was holding PAEL in Nov. 2014 @ 28.50, the result was v v good & I was expecting price of 35+. But it was not moving as to the result. At last I deposed it off at 30.50 & since than it is not coming down. So patience is key.
Title: Re: AICL -- Adamjee Insurance
Post by: Stock_hunt on June 02, 2015, 11:09:26 PM
47+ :good
Title: Re: AICL -- Adamjee Insurance
Post by: asim.786 on July 06, 2015, 05:21:02 PM
Buy Aicl at current
Tp-57-60 in short term
big group is accumulating
Title: Re: AICL -- Adamjee Insurance
Post by: DEVDAS on July 06, 2015, 05:49:35 PM

Bhai yeh Market kay sath kun move nehain kar raha .. huhu :mad:
Keeping in view its last result, inshallah 50 to 55+ is 100% sure. I think intentionally left so. Just to add, I was holding PAEL in Nov. 2014 @ 28.50, the result was v v good & I was expecting price of 35+. But it was not moving as to the result. At last I deposed it off at 30.50 & since than it is not coming down. So patience is key.
Seems solid above 50. now Inshallah soon above 55
Title: Re: AICL -- Adamjee Insurance
Post by: buffet on July 06, 2015, 06:42:43 PM
Asim bhai lotte kab chaley gaa?
Title: Re: AICL -- Adamjee Insurance
Post by: danishhussain93 on July 06, 2015, 09:31:33 PM
Asalam-0-alikum asim bhai Short term k liye scripe bata den please thanks :thanks: :thanks: :thanks:
Title: Re: AICL -- Adamjee Insurance
Post by: asim.786 on July 06, 2015, 09:34:27 PM
Asalam-0-alikum asim bhai Short term k liye scripe bata den please thanks :thanks: :thanks: :thanks:
Aicl
Title: Re: AICL -- Adamjee Insurance
Post by: danishhussain93 on July 06, 2015, 10:04:20 PM
asim bhai aap nay jo save investment script mention kiye he 3 to4 month, us main fresh entry le lo, like, searle, FCCL, berger, DCL???
please reply thanks asim bhai :thanks: :thanks:
Title: Re: AICL -- Adamjee Insurance
Post by: aleeimran on July 06, 2015, 10:36:16 PM
http://dps.kse.com.pk/notices-updates/detail2.php?id=4&nid=067263

Board Meeting on 13th July 2015..................seems something very surprizing
Title: Re: AICL -- Adamjee Insurance
Post by: asim.786 on July 07, 2015, 12:19:25 PM
Buy Aicl at current
Tp-57-60 in short term
big group is accumulating

 :good :biggthumpup:
Title: Re: AICL -- Adamjee Insurance
Post by: tariqdbest on July 07, 2015, 12:21:41 PM
Buy Aicl at current
Tp-57-60 in short term
big group is accumulating

 :good :biggthumpup:

Chaaa gaye ho Asim bhai.... great call :thanks:
Title: Re: AICL -- Adamjee Insurance
Post by: SMF on July 08, 2015, 12:09:46 AM
Buy Aicl at current
Tp-57-60 in short term
big group is accumulating

Fantastic Call  :good :good :thanks:
Title: Re: AICL -- Adamjee Insurance
Post by: RNE on July 08, 2015, 01:59:23 AM
Asim bhai too good  :good :good :good
Title: Re: AICL -- Adamjee Insurance
Post by: msssuhaque on July 08, 2015, 10:14:52 AM
whats the result expectations for adamjee for this quarter?
Title: Re: AICL -- Adamjee Insurance
Post by: sabir.hussain on July 09, 2015, 02:07:11 PM
Buy Aicl at current
Tp-57-60 in short term
big group is accumulating

Fantastic Call  :good :good :thanks:
62 seems on card :shoaby:
Title: Re: AICL -- Adamjee Insurance
Post by: SBM on July 13, 2015, 01:19:50 PM
(http://puu.sh/iXnqT/0cda33e104.png)
Title: Re: AICL -- Adamjee Insurance
Post by: SBM on July 13, 2015, 01:20:56 PM
They are buying from samin textiles
Title: Re: AICL -- Adamjee Insurance
Post by: Tariq Ahmed on July 13, 2015, 01:27:06 PM
seniors AICL ka kiya target hay kindly guide karein.
Title: Re: AICL -- Adamjee Insurance
Post by: Avi2013 on July 13, 2015, 02:30:54 PM
60-62 short term inshallah  ;)
Title: Re: AICL -- Adamjee Insurance
Post by: Avi2013 on July 13, 2015, 02:31:35 PM
Agar hold kar sakte ho to hold till dec 2015
Inshallah 85-90  :fingerscrossed1:
Title: Re: AICL -- Adamjee Insurance
Post by: aleeimran on July 13, 2015, 04:26:12 PM
http://www.kse.com.pk/newsattachment/067491.pdf
Title: Re: AICL -- Adamjee Insurance
Post by: SBM on July 22, 2015, 04:19:25 PM
http://www.kse.com.pk/newsattachment/067771.pdf
Title: Re: AICL -- Adamjee Insurance
Post by: aliraza on July 23, 2015, 05:24:46 PM


http://www.thenews.com.pk/Todays-News-3-330069-Adamjee-to-acquire-shares-of-Security-General-Insurance
Title: Re: AICL -- Adamjee Insurance
Post by: sabir.hussain on July 29, 2015, 04:32:16 PM
lao adamgee
Title: Re: AICL -- Adamjee Insurance
Post by: aleeimran on August 10, 2015, 09:23:00 PM
Adamjee Insurance Company Limited (AICL) has gained 15.2%CYTD, outperforming the KSE?100 Index by 2.4% in the process. While the market is attaching value to AICL’s investment portfolio (PkR56/share on Jun 30’15) we believe it is ignoring recent impressive underwriting results.

Underwriting profit has summed to PkR519mn across the last 2qtrs, an unprecedented pace where previous high is PkR679mn achieved in full?year CY09. While motor insurance is leading growth in premiums (+19%YoY in 1QCY15), the claims ratio has dropped to 58% (vs. last 10yr avg. of 67%).
Conscious focus on underwriting quality can sustain core uptick. On annualized 1QCY15 EPS of PkR2.11 (+17%YoY despite lower investment income), AICL trades at a P/E of 6.75x. While we do not cover AICL formally, convergence to mean market P/E of 9.45x can take the share to PkR80/share.


1QCY15 Result Review

 AICL posted unconsolidated NPAT of PkR737.3mn (EPS: PkR2.11) in 1QCY15, up by 17%YoY on (i) 7.4x YoY jump in underwriting profits to PkR257mn on 19%YoY higher premiums and (ii) lower expenses, which countered the impact of a 9%YoY reduction in investment income to PkR636mn. Growth in premiums was led by Accident/Health (+32%YoY) and Motor (+16%YoY) while claims were notably lower for Fire (?16%YoY) and Motor (?14%YoY).

Core Business Turnaround!

Robust underwriting profits in 1QCY15 brought the sum for the last 2qtrs to PkR519mn, which is a significant achievement where the claims/combined ratio have dropped to 58%/85% vs. last 10yr average of 67%/96%. The last time underwriting income crossed PkR200mn was in 3QCY12 but the uptick did not last into the next quarter. If this run rate sustains, AICL is headed for record?high underwriting profitability where the previous high is PkR679mn in full?year CY09. Channel checks indicative of a conscious focus on underwriting quality are positive signs for trend sustainability as is the slight, but noticeable, improvement in the country’s security and law & order climate. Exposure to the life insurance segment through a subsidiary is another plus.

Investment Portfolio

AICL’s investment portfolio had a market value of PkR19.8bn (PkR56.5/share of AICL) on Jun 30’15, with unrealized gains amounting to PkR7.5bn. Excluding group company holdings, unrealized gains come to PkR3.4bn. We estimate that dividend income in 2QCY15 alone will result in investment income of more than PkR425mn for the quarter. This is a decent pace considering investment income (dividends + capital gains) totaled PkR2.1bn and PkR2.4bn in CY14 and CY13, respectively.

Intermarket Perspective

Based on 1QCY15 annualized profits, AICL trades at a P/E of 6.75x, at a 29% discount to the KSE?100. As the market fully prices in AICL’s strong investment portfolio and core business turnaround, we believe this valuation discount will gradually contract. While we do not cover AICL formally, convergence to mean market P/E of 9.45x can take the share to PkR80/share implying 40% upside together with an estimated forward D/Y of 7.4
Title: Re: AICL -- Adamjee Insurance
Post by: HAMDANI_Punjtani on August 12, 2015, 11:11:35 AM
Any views about AICL...what could be its direction
Title: Re: AICL -- Adamjee Insurance
Post by: Hobbyist on August 20, 2015, 10:01:03 PM
Heard today on City42 today that insurer for police department has been switched from State Life to Adamjee Insurance. The news said it covers 30,000 police personnel.

Bought some today on news, though m not an expert on insurance. What do seniors suggest? good bargain for idle cash from having sold unic @28?


Title: Re: AICL -- Adamjee Insurance
Post by: alishahid84 on August 20, 2015, 10:16:02 PM
Whats the general insurance sector average P/E?

Seniors please guide.
Title: Re: AICL -- Adamjee Insurance
Post by: momo on August 21, 2015, 12:26:19 AM
Whats the general insurance sector average P/E?

Seniors please guide.

I think there was a recent report that stated the average insurance sector P/E as much higher than AICL's. This is the cheapest blue chip insurance company. Time to buy it on every dip.
Title: Re: AICL -- Adamjee Insurance
Post by: MZ on August 21, 2015, 08:24:06 PM
Adamjee Insurance: Reinitiating coverage with a ‘Buy’ call
Investment thesis: We reinitiate our coverage on Pakistan’s 2nd largest non-life insurance company Adamjee Insurance (AICL) with a ‘Buy’ call. Our liking for the stock is driven by factors including 1) improving underwriting business led by macroeconomic recovery, 2) growing life insurance business & 3) decent return expected from investment portfolio. We expect AICL to post 16% earnings growth in 2015 and 15% in 2016. Currently, it trades at 10% discount to its last 3-year (2012-14) average PE of 10.4x and is at a significant 27% discount to peer companies’ average PE of 13.0x. The stock is also trading at 18% discount to its portfolio value of Rs72/share. Our 12-month AICL’s target price of Rs69/share offers an upside of 17%.
Underwriting business improving: Economic recovery is likely to drive underwriting business of the company. Pakistan GDP growth for FY16-18 is estimated at 5.5% higher than average GDP growth of 4% during last 3 years. Pakistan non life insurance penetration is 0.2% in 2014 (total insurance penetration 0.4%), which is one of the lowest in region. We believe that increasing car financing, better security situation and improving underwriting business in UAE will help underwriting business of AICL. Moreover, upcoming energy sector projects and global expansion will further support underwriting business.
Growth in life insurance to remain strong: Gross premium of life insurance grew at a 3-year (2012-14) CAGR of 79%. As a result, market share of AICL grew to 11% in 2014 from 4% in 2011. Life business will continue to post strong growth led by banc assurance business with the help of strong MCB bank network.
Equity focus investment portfolio: Strong investment portfolio, thanks to stock market rally, is driving investment income of AICL. Investment income contributes significantly to the earnings of the company and will remain a major earning driver. AICL has a diversified portfolio with concentration in equities having major exposure in Banks and Power sectors.
Risks: Deterioration in Pakistan macros, high exposure to UAE auto market, sharp fall in stock market and natural calamities are some of key risks faced by company.

Topline
Title: Re: AICL -- Adamjee Insurance
Post by: SBM on August 28, 2015, 11:39:56 AM
Adamjee Insurance (AICL): 2Q2015 EPS Rs2.5 (Above expectation)
(PDF attached)
(Aug 27, 2015)
 
Adamjee Insurance (AICL) declared 2Q2015 earnings of Rs861mn (EPS Rs2.5) as against Rs215mn (EPS Rs0.6) in the same period last year. Along with the results, the company also announced a cash dividend of Rs1.5/share. This result was above our expectations.       
Key takeaways
§  AICL earnings grew by 4x YoY in 2Q2015 led by strong growth in investment income and improved underwriting income.

§  Investment income of AICL grew by 172% YoY to Rs859mn led by higher capital gains on the sale of equities, we believe. Investment income remains a key earnings driver for AICL as it contributed around 76% to the total income generated by the company.

§  Underwriting business also showed improvement leading to an underwriting income of Rs230mn in 2Q2015 as against a loss of Rs4mn in 2Q2014. We attribute this to improved macros and recovery in underwriting business of oversees operation (UAE). 

§  Underwriting income in domestic market surged to Rs191mn in 2Q2015 vs. Rs38mn in 2Q2014. On the other hand, underwriting income on oversees operation stood at Rs39mn as against a loss of Rs42mn in 2Q2014, driven by improved motor business operations.

§  Net premium of the company grew by 25% YoY to Rs1.9bn in 2Q2015 led by growth in premium written under motor segment of the company, up by 30% YoY.     

§  Claim ratio of AICL also improved to 62% in 2Q2015 as against 68% in 2Q2014. Improving security situation, lower car thefts and increased usage of tracker technology are some of the key reasons behind lower claim ratio, in our view.   

§  AICL is currently trading at 2015E PE of 6.3x and PBV of 1.3x as against its peers trading at PE of 13.0x and PBV of 2.3x. We maintain our ‘BUY’ call on the stock.

 
Regards,
Umair Naseer
Title: Re: AICL -- Adamjee Insurance
Post by: asim.786 on September 10, 2015, 04:57:06 PM
http://www.kse.com.pk/notices-updates/detail2.php?id=4&nid=069182&qsid=133
Title: Re: AICL -- Adamjee Insurance
Post by: patient_invester on September 11, 2015, 03:12:37 PM
Dear SBM bhai.... what's the good price to take fresh entry in this? Also what's the TP of this in short term? Thanks
Title: Re: AICL -- Adamjee Insurance
Post by: momo on September 24, 2015, 05:48:34 AM
Dear SBM bhai.... what's the good price to take fresh entry in this? Also what's the TP of this in short term? Thanks

I think this is a good time to buy it. It's at very attractive and depressed levels and very cheap compared to it's peers and the broader market. It will be much higher once the market gets better.
Title: Re: AICL -- Adamjee Insurance
Post by: SBM on September 26, 2015, 12:42:10 AM
Dear SBM bhai.... what's the good price to take fresh entry in this? Also what's the TP of this in short term? Thanks

depends, if you think its earnings can be repeated then its worth a buy ..
Most of its earnings in recent quarters came from book capital gains i believe
lets c
Title: Re: AICL -- Adamjee Insurance
Post by: drqamarhk on September 27, 2015, 11:30:18 PM
Dear SBM bhai.... what's the good price to take fresh entry in this? Also what's the TP of this in short term? Thanks

depends, if you think its earnings can be repeated then its worth a buy ..
Most of its earnings in recent quarters came from book capital gains i believe
lets c
Howmuch earnings is from capital gain.pl tell us thanks
Title: Re: AICL -- Adamjee Insurance
Post by: invincible on October 12, 2015, 04:11:48 PM
Isnt AIC on attractive level?

Expert opinion is required

Regards
Title: Re: AICL -- Adamjee Insurance
Post by: zahid on January 01, 2016, 09:42:36 AM
kaya is level per buying bunti hai
Title: Re: AICL -- Adamjee Insurance
Post by: sumbul on January 01, 2016, 12:29:07 PM
kaya is level per buying bunti hai

Bilkul bantee hey. It can easily touch Rs 70/- till annual result announcement in March. It's trading at exp. P/E ratio of 6.9xs against avaerage P/E ratio of 8.5xs  :biggthumpup:
Title: Re: AICL -- Adamjee Insurance
Post by: momo on January 02, 2016, 12:19:50 AM
kaya is level per buying bunti hai

Bilkul bantee hey. It can easily touch Rs 70/- till annual result announcement in March. It's trading at exp. P/E ratio of 6.9xs against avaerage P/E ratio of 8.5xs  :biggthumpup:

Agreed. Very attractive levels. It'll give good gains but can be slow.
Title: Re: AICL -- Adamjee Insurance
Post by: alidxb on January 08, 2016, 11:07:17 AM
Adamjee Insurance
All set to benefit from the turnaround in the economy
Initiate with Outperform, TP set at PKR80.8/sh, 41% upside
We initiate coverage on Adamjee Insurance Company Limited (AICL) with “Outperform”
rating and set out our Jun-16 TP of Rs80.8/sh, implying ~41% upside to current market
price. The economic turnaround is to reflect in improved underwriting business via
sequential increase in written premiums and lower combined ratio. The company’s
underwriting business is expected to depict a 3yr CAGR of 60.3% that resonates growth
of the previous boom period (CY03-08 CAGR of 50.8%). The said turnaround should also
result in better appreciation of its portfolio value (Rs56.3/sh), in our view.
Higher construction activities & strong auto sales to increase top-line
The Company would directly benefit from improved economic prospects as the Govt.
makes steady headways in alleviating power crisis and security situation, with additional
impetus provided by China Pakistan Economic Corridor (CPEC). A direct reflection of
improved construction activity (cement sales up 15.6% in 5MFY16) and strong auto sales
(? 35.8% in 5MFY16 along with 8% increase in auto financing in YTDFY16) would come
on AICL’s Fire & property, and Motor segment (cumulatively contributing ~70% to
written premium). We expect company’s written premiums to register a CAGR of 14% in
the next 3yrs that mirror a similar trend of CY03-08 (CAGR of 13%).
Improving law & order situations to jack up profit ratio   
In addition, the company’s core business would also gain from improved claim ratio. Our
view is premised on improving law & order situation of the country post Zarb-e-Azab
operation (Significant reduction in street crimes and terrorist activities) and increased
use of tracker technology (TPL tracker’s revenue saw an increase of 13% YoY in Sep15).
Turnaround in core business to trigger portfolio value 
We also believe the turnaround in core business should also translate in better
appreciation of its portfolio value (Rs56.3/sh) where ~40% of its value is driven from its
investment in MCB. Other major holdings include DGKC, LPL and FFC (contributes less
than 5% on individual basis).
Earnings
Based on the aforementioned, we see increased contribution of core business in total
income as we profile future earnings which should translate in 3yrs earnings CAGR of
23%.
Valuation
We have valued AICL at Rs80.8/sh on Residual Income method (based on market value of
investment). Being conservative, we have applied a haircut of 25% on the portfolio value.
Key upside and downside risks
Price Catalyst (1) improving economic fundamentals, (2) better law & order situation and
(3) expansion in market share.
Key downside risks are (1) higher than expected claim ratio and (2) portfolio
concentration risk in MCB.
Title: Re: AICL -- Adamjee Insurance
Post by: zahid on February 23, 2016, 01:27:01 PM
http://dps.psx.com.pk/notices-updates/detail2.php?id=4&nid=077030

AJ TO b.m THE RESULT KA KAYA BUNA???
Title: Re: AICL -- Adamjee Insurance
Post by: DEVDAS on February 23, 2016, 08:19:52 PM
http://dps.psx.com.pk/notices-updates/detail2.php?id=4&nid=077030

AJ TO b.m THE RESULT KA KAYA BUNA???

EPS 7.30 v/s 5.37, dividend 15%. Result was good but div. is below expectation.

http://www.psx.com.pk/newsattachment/077484.pdf
Title: Re: AICL -- Adamjee Insurance
Post by: Stocker777 on April 25, 2016, 09:49:25 AM
Expected eps  in this quarter ????
Title: Re: AICL -- Adamjee Insurance
Post by: alicima on April 25, 2016, 02:29:27 PM
(http://i65.tinypic.com/2hz64w0.jpg)
(http://i63.tinypic.com/2hov81d.jpg)
Title: Re: AICL -- Adamjee Insurance
Post by: Farhan Kermani on April 25, 2016, 07:52:11 PM
The worst result of the Mansha universe. There is so much intra group holding in Nishat group. AICL buying NML, DGKC buying AICL. Seems like Mansha doesnt want any hostile risk left to the market. And also perhaps they might emulate Engro corp model increasing foreign ownership in their companies. They have done that in the past with MCB.
What is the reason behind increasing the stake in AICL? when the same investment could guarantee better dividends in other companies.
Title: Re: AICL -- Adamjee Insurance
Post by: momo on April 25, 2016, 07:58:43 PM
The worst result of the Mansha universe. There is so much intra group holding in Nishat group. AICL buying NML, DGKC buying AICL. Seems like Mansha doesnt want any hostile risk left to the market. And also perhaps they might emulate Engro corp model increasing foreign ownership in their companies. They have done that in the past with MCB.
What is the reason behind increasing the stake in AICL? when the same investment could guarantee better dividends in other companies.

Yeah, I don't know why he's increasing stakes in his own companies. He's already got close to majority ownership, if not majority ownership in all of them so what's the point of increasing the ownership stakes? Maybe he foresees better returns from these businesses going forward which is why he's investing in them now.
Title: Re: AICL -- Adamjee Insurance
Post by: momo on April 25, 2016, 08:01:39 PM
Also, I believe this is a good share for value investors. Really cheap with great growth prospects. Only reason the result is lower is because of higher claims.

Any other comments or opinions?
Title: Re: AICL -- Adamjee Insurance
Post by: Farhan Kermani on April 25, 2016, 08:32:39 PM
One reason i understand is they don't want to part with their cash. Cornering your own shares also means there is lower free float left in the market and the share price goes up. This could affect the P/L of other concerns that have holding in AICL.
Also how is this transaction taking place? Not from the market i suppose. If this goes out of authorised capital then the cash goes to AICL, which might come in handy to be used as working capital, leaving accounting treatment to one side ( over here)
I see these intra group holding as selfishly guarading your own assets.
I am sure Nishat group is not thinking in terms of shareholding only, they are looking at increasing their own shareholding and then parting with their share on a hefty premium. Like i said, EFOOD transaction must have garnered enough attention in other groups.

I like it, Its healthy for the market and Pakistani market needs some excitement.
Title: Re: AICL -- Adamjee Insurance
Post by: momo on April 25, 2016, 09:43:42 PM
One reason i understand is they don't want to part with their cash. Cornering your own shares also means there is lower free float left in the market and the share price goes up. This could affect the P/L of other concerns that have holding in AICL.
Also how is this transaction taking place? Not from the market i suppose. If this goes out of authorised capital then the cash goes to AICL, which might come in handy to be used as working capital, leaving accounting treatment to one side ( over here)
I see these intra group holding as selfishly guarading your own assets.
I am sure Nishat group is not thinking in terms of shareholding only, they are looking at increasing their own shareholding and then parting with their share on a hefty premium. Like i said, EFOOD transaction must have garnered enough attention in other groups.

I like it, Its healthy for the market and Pakistani market needs some excitement.

AICL is buying Nishat Mills, not the other way around, so cash will not going to AICL. I wish they had bought something other than Nishat Mills. Textile is not doing too great.
Title: Re: AICL -- Adamjee Insurance
Post by: Farhan Kermani on April 26, 2016, 03:27:12 AM
Oh yes, then just substitute the parties  :clap1:
Title: Re: AICL -- Adamjee Insurance
Post by: alidxb on May 06, 2016, 12:45:00 PM
Board of directors of Adamjee Insurance (AICL) is considering long term equity investment worth Rs625mn in Nishat Mills (NML) (~5mn ordinary shares at a price not more than Rs125/share).
Title: Re: AICL -- Adamjee Insurance
Post by: Farhan Kermani on May 06, 2016, 01:36:20 PM
In a time frame of 3 years i guess?
Title: Re: AICL -- Adamjee Insurance
Post by: rsuleman on May 06, 2016, 02:32:28 PM
In a time frame of 3 years i guess?
What is the basis of your guess for the time frame?
Title: Re: AICL -- Adamjee Insurance
Post by: Farhan Kermani on May 06, 2016, 03:17:23 PM
I think i read it in the EOGM notice.
Title: Re: AICL -- Adamjee Insurance
Post by: Farhan Kermani on May 06, 2016, 03:20:18 PM
Ok it says the resolution is valid for 3 years, so the purcahse could be made at any point of time during the 3 years from the day of the resolution.
Title: Re: AICL -- Adamjee Insurance
Post by: rsuleman on May 06, 2016, 06:02:23 PM
Ok it says the resolution is valid for 3 years, so the purcahse could be made at any point of time during the 3 years from the day of the resolution.
Thanks for the information.
It means there are two conditions attached- purchase price to be within 125/share and purchasing must be finished within the period of three years.
Nishat Mill price may get a small boost because of the board's decision.
Title: Re: AICL -- Adamjee Insurance
Post by: Farhan Kermani on May 06, 2016, 06:31:18 PM
Its quite a trick, they would buy much lower than this price and the market forces would consider this as a benchmark. The buying could be done tommorrow or be staggerred between the passing of resolution and 3 years when the resolution comes to its conclusion.
Title: Re: AICL -- Adamjee Insurance
Post by: Valueestimator on May 06, 2016, 09:04:58 PM
NML rallay is far superior than just 5mn shares to be purchased by aicl, just for example today volume was over 5 million.

the issue is that there is only 5% shares held by retail investors and the rest have been cornered already. few of us knows that foreign funds owns approximately 17-20% of nml total share capital, 54% by mansha group and associated companies, 17-20% by funds and institutions.
Title: Re: AICL -- Adamjee Insurance
Post by: Farhan Kermani on May 07, 2016, 12:02:14 PM
did it say that NML would be part of MSCI fund? I read somewhere yesterday.
Yes you are right, the AICL buying and foreign buying cannot be viewed in isolation but there is definitely a single point driving the buying.
Title: Re: AICL -- Adamjee Insurance
Post by: momo on May 13, 2016, 08:15:17 PM
Why is this share still stuck around Rs56? It's value is a lot more than that. I don't understand why it hasn't moved much. It should be around Rs70 or so.
Title: Re: AICL -- Adamjee Insurance
Post by: momo on June 06, 2016, 12:37:32 AM
So now with the imposition of 31% tax on all earnings of insurance companies, what should one do? Should one exit AICL? How much of an impact on AICL's bottom line will it have?
Title: Re: AICL -- Adamjee Insurance
Post by: momo on June 06, 2016, 10:39:35 AM
Lower locked. Hopefully it rebounds soon.
Title: Re: AICL -- Adamjee Insurance
Post by: Heart Breaker on June 06, 2016, 10:46:18 AM
Lower locked. Hopefully it rebounds soon.

Stay away lets settle the dust (FCCL claim) . . .
Title: Re: AICL -- Adamjee Insurance
Post by: momo on June 06, 2016, 11:41:19 AM
Lower locked. Hopefully it rebounds soon.

Stay away lets settle the dust (FCCL claim) . . .

The lower lock isn't due to the FCCL claim, it's due to the 31% tax on all income for the insurance sector.
Title: Re: AICL -- Adamjee Insurance
Post by: Heart Breaker on June 06, 2016, 11:48:01 AM
Lower locked. Hopefully it rebounds soon.

Stay away lets settle the dust (FCCL claim) . . .

The lower lock isn't due to the FCCL claim, it's due to the 31% tax on all income for the insurance sector.

I agree but both factors are pushing it down whereas you can look at Pakri and Efug rates which are stable compare to it . . .
Title: Re: AICL -- Adamjee Insurance
Post by: Sharoze123 on June 06, 2016, 01:51:12 PM
Why is this share still stuck around Rs56? It's value is a lot more than that. I don't understand why it hasn't moved much. It should be around Rs70 or so.

So now with the imposition of 31% tax on all earnings of insurance companies, what should one do? Should one exit AICL? How much of an impact on AICL's bottom line will it have?

The imposition of 31% tax on Insurance companies will affect those insurance companies the most which have a ratios of Investment Income/Total Pretax Income the most. Specifically, Adamjee is greatly affected since its ratio of Investment income to pretax income is nearly 80%. Furthermore almost 90% of that Investment  income is Cap gains and Dividend income on equity securities. A roughly estimated income effect on Adamjee's earnings are -1.1ish rs/share on my estimate, assuming a decline of about 200-300mn in this year's investment income as compared to last year due to a lower cushion of Unrealized gains available.  So I was expecting 7.6ish/share EPS this year and that Could drop down to 7-7.1ish/share, with an underwriting profit of about 1.1bn.

But I have a question as to why do you think its worth 70 bucks?
Title: Re: AICL -- Adamjee Insurance
Post by: momo on June 06, 2016, 07:20:36 PM
Why is this share still stuck around Rs56? It's value is a lot more than that. I don't understand why it hasn't moved much. It should be around Rs70 or so.

So now with the imposition of 31% tax on all earnings of insurance companies, what should one do? Should one exit AICL? How much of an impact on AICL's bottom line will it have?

The imposition of 31% tax on Insurance companies will affect those insurance companies the most which have a ratios of Investment Income/Total Pretax Income the most. Specifically, Adamjee is greatly affected since its ratio of Investment income to pretax income is nearly 80%. Furthermore almost 90% of that Investment  income is Cap gains and Dividend income on equity securities. A roughly estimated income effect on Adamjee's earnings are -1.1ish rs/share on my estimate, assuming a decline of about 200-300mn in this year's investment income as compared to last year due to a lower cushion of Unrealized gains available.  So I was expecting 7.6ish/share EPS this year and that Could drop down to 7-7.1ish/share, with an underwriting profit of about 1.1bn.

But I have a question as to why do you think its worth 70 bucks?

Well, because I am expecting a big uptick in insurance activity and their insurance business, so I was expecting an EPS of around Rs8.5-9 this year. I guess now, that will go down to about Rs7.5-8.
Title: Re: AICL -- Adamjee Insurance
Post by: SBM on June 06, 2016, 08:41:44 PM
Lower locked. Hopefully it rebounds soon.

Stay away lets settle the dust (FCCL claim) . . .

as per initial estimates, FCCL claim wont have a material impact on AICL results ..
Title: Re: AICL -- Adamjee Insurance
Post by: rational.investor on June 06, 2016, 08:44:53 PM
Lower locked. Hopefully it rebounds soon.

Stay away lets settle the dust (FCCL claim) . . .

as per initial estimates, FCCL claim wont have a material impact on AICL results ..

is that because the claim is not going to be much?
and does that mean FCCL is a good buy at current rate?
Title: Re: AICL -- Adamjee Insurance
Post by: SBM on June 06, 2016, 08:58:14 PM
Lower locked. Hopefully it rebounds soon.

Stay away lets settle the dust (FCCL claim) . . .

as per initial estimates, FCCL claim wont have a material impact on AICL results ..

is that because the claim is not going to be much?
and does that mean FCCL is a good buy at current rate?

no, its because AICL had reinsured almost all of the risk they underwrote in the first place
so exposure is small
Title: Re: AICL -- Adamjee Insurance
Post by: MZ on June 08, 2016, 07:49:13 PM
AICL: Uniform tax rate to serve as a major deterrent
In a major development, a uniform 31% tax rate on all income sources of insurance companies has been levied in budget FY17. We see this as a material negative event for Adamjee Insurance Company Limited (AICL). With underwriting income barely breaking even, major contribution to the bottom line comes from dividends and capital gains from investment portfolio, that are currently taxed at 12.5% (7.5% for power companies) and 0-15% (depending on the holding period) respectively. As a result the effective tax rate remains restricted near the 10% mark (CY12-15 average effective tax rate: 8.6%). After incorporating 31% straight tax on all income sources of the company, the effective tax rate of AICL spikes up to 21/28% for CY16/17, chopping of CY16/17/18 EPS estimates by 12/16/16% to PKR5.8/6.0/6.4.
Due to the limitations of sum of the parts methodology, we cannot incorporate the valuation impact of increase in tax on investment income. To overcome the aforementioned limitation we have calculated the valuation impact using opportunity cost approach, whereby we increase the discount on investment portfolio to the extent that the dividend yield before and after incorporation of tax, remains same. Overall this methodology results in –ve TP impact of PKR7.0/sh and our revised Dec-16 TP arrives at PKR50.2/sh (down 12.2% from previous TP).
Recommendation
With a revised Dec-16 TP of 50.2/sh (down 12.2% from previous TP of 57.2/sh) we maintain AICL’s a Neutral rating. Taking into account the increase in tax rates, we revise down our CY16/17/18E EPS by 12/16/16% to PKR5.8/6.0/6.4.
Key valuation methodology & triggers
·         Dec-16 price target: PKR50.2/sh based on sum of the parts valuation methodology
·         Key triggers: Translation of robust topline growth in life business to its bottom line, further improvement in underwriting margins, growth in motor segment, power projects planned under CPEC, increase in Marine and aviation insurance in the backdrop of CPEC.
·         Downside risks: Decline in underwriting margins, deterioration of law and order situation, natural calamities, further decline in equity portfolio.

Alfalah Sec
Title: Re: AICL -- Adamjee Insurance
Post by: momo on June 08, 2016, 10:01:13 PM
AICL: Uniform tax rate to serve as a major deterrent
In a major development, a uniform 31% tax rate on all income sources of insurance companies has been levied in budget FY17. We see this as a material negative event for Adamjee Insurance Company Limited (AICL). With underwriting income barely breaking even, major contribution to the bottom line comes from dividends and capital gains from investment portfolio, that are currently taxed at 12.5% (7.5% for power companies) and 0-15% (depending on the holding period) respectively. As a result the effective tax rate remains restricted near the 10% mark (CY12-15 average effective tax rate: 8.6%). After incorporating 31% straight tax on all income sources of the company, the effective tax rate of AICL spikes up to 21/28% for CY16/17, chopping of CY16/17/18 EPS estimates by 12/16/16% to PKR5.8/6.0/6.4.
Due to the limitations of sum of the parts methodology, we cannot incorporate the valuation impact of increase in tax on investment income. To overcome the aforementioned limitation we have calculated the valuation impact using opportunity cost approach, whereby we increase the discount on investment portfolio to the extent that the dividend yield before and after incorporation of tax, remains same. Overall this methodology results in –ve TP impact of PKR7.0/sh and our revised Dec-16 TP arrives at PKR50.2/sh (down 12.2% from previous TP).
Recommendation
With a revised Dec-16 TP of 50.2/sh (down 12.2% from previous TP of 57.2/sh) we maintain AICL’s a Neutral rating. Taking into account the increase in tax rates, we revise down our CY16/17/18E EPS by 12/16/16% to PKR5.8/6.0/6.4.
Key valuation methodology & triggers
·         Dec-16 price target: PKR50.2/sh based on sum of the parts valuation methodology
·         Key triggers: Translation of robust topline growth in life business to its bottom line, further improvement in underwriting margins, growth in motor segment, power projects planned under CPEC, increase in Marine and aviation insurance in the backdrop of CPEC.
·         Downside risks: Decline in underwriting margins, deterioration of law and order situation, natural calamities, further decline in equity portfolio.

Alfalah Sec

What are the recommendations? Any suggestions? Should one reduce or completely sell off the holdings in AICL? No good for nothing Finance Minister is just trying to squeeze everything. Just trying to kill every industry that's beginning to take root.

Also, why were their earnings estimates so low to begin with? It earned Rs7.3 in CY15, so why would its earnings go down even before the imposition of this 31% uniform tax rate on all earnings? Were they expecting earnings to come down from last year even before this? For what reason? The insurance business is growing.
Title: Re: AICL -- Adamjee Insurance
Post by: momo on June 10, 2016, 11:37:24 AM
AICL: Uniform tax rate to serve as a major deterrent
In a major development, a uniform 31% tax rate on all income sources of insurance companies has been levied in budget FY17. We see this as a material negative event for Adamjee Insurance Company Limited (AICL). With underwriting income barely breaking even, major contribution to the bottom line comes from dividends and capital gains from investment portfolio, that are currently taxed at 12.5% (7.5% for power companies) and 0-15% (depending on the holding period) respectively. As a result the effective tax rate remains restricted near the 10% mark (CY12-15 average effective tax rate: 8.6%). After incorporating 31% straight tax on all income sources of the company, the effective tax rate of AICL spikes up to 21/28% for CY16/17, chopping of CY16/17/18 EPS estimates by 12/16/16% to PKR5.8/6.0/6.4.
Due to the limitations of sum of the parts methodology, we cannot incorporate the valuation impact of increase in tax on investment income. To overcome the aforementioned limitation we have calculated the valuation impact using opportunity cost approach, whereby we increase the discount on investment portfolio to the extent that the dividend yield before and after incorporation of tax, remains same. Overall this methodology results in –ve TP impact of PKR7.0/sh and our revised Dec-16 TP arrives at PKR50.2/sh (down 12.2% from previous TP).
Recommendation
With a revised Dec-16 TP of 50.2/sh (down 12.2% from previous TP of 57.2/sh) we maintain AICL’s a Neutral rating. Taking into account the increase in tax rates, we revise down our CY16/17/18E EPS by 12/16/16% to PKR5.8/6.0/6.4.
Key valuation methodology & triggers
·         Dec-16 price target: PKR50.2/sh based on sum of the parts valuation methodology
·         Key triggers: Translation of robust topline growth in life business to its bottom line, further improvement in underwriting margins, growth in motor segment, power projects planned under CPEC, increase in Marine and aviation insurance in the backdrop of CPEC.
·         Downside risks: Decline in underwriting margins, deterioration of law and order situation, natural calamities, further decline in equity portfolio.

Alfalah Sec

What are the recommendations? Any suggestions? Should one reduce or completely sell off the holdings in AICL? No good for nothing Finance Minister is just trying to squeeze everything. Just trying to kill every industry that's beginning to take root.

Also, why were their earnings estimates so low to begin with? It earned Rs7.3 in CY15, so why would its earnings go down even before the imposition of this 31% uniform tax rate on all earnings? Were they expecting earnings to come down from last year even before this? For what reason? The insurance business is growing.

Anything? Any recommendations on what to replace it with?
Title: Re: AICL -- Adamjee Insurance
Post by: Irfan on June 10, 2016, 11:52:45 AM
I never liked this share , exceptionally slow ....

Waisa Sabar aur Istaqamat , seekhna ka leya acha share ha  :D
Title: Re: AICL -- Adamjee Insurance
Post by: Sharoze123 on June 22, 2016, 11:57:35 AM
AICL: Uniform tax rate to serve as a major deterrent
In a major development, a uniform 31% tax rate on all income sources of insurance companies has been levied in budget FY17. We see this as a material negative event for Adamjee Insurance Company Limited (AICL). With underwriting income barely breaking even, major contribution to the bottom line comes from dividends and capital gains from investment portfolio, that are currently taxed at 12.5% (7.5% for power companies) and 0-15% (depending on the holding period) respectively. As a result the effective tax rate remains restricted near the 10% mark (CY12-15 average effective tax rate: 8.6%). After incorporating 31% straight tax on all income sources of the company, the effective tax rate of AICL spikes up to 21/28% for CY16/17, chopping of CY16/17/18 EPS estimates by 12/16/16% to PKR5.8/6.0/6.4.
Due to the limitations of sum of the parts methodology, we cannot incorporate the valuation impact of increase in tax on investment income. To overcome the aforementioned limitation we have calculated the valuation impact using opportunity cost approach, whereby we increase the discount on investment portfolio to the extent that the dividend yield before and after incorporation of tax, remains same. Overall this methodology results in –ve TP impact of PKR7.0/sh and our revised Dec-16 TP arrives at PKR50.2/sh (down 12.2% from previous TP).
Recommendation
With a revised Dec-16 TP of 50.2/sh (down 12.2% from previous TP of 57.2/sh) we maintain AICL’s a Neutral rating. Taking into account the increase in tax rates, we revise down our CY16/17/18E EPS by 12/16/16% to PKR5.8/6.0/6.4.
Key valuation methodology & triggers
·         Dec-16 price target: PKR50.2/sh based on sum of the parts valuation methodology
·         Key triggers: Translation of robust topline growth in life business to its bottom line, further improvement in underwriting margins, growth in motor segment, power projects planned under CPEC, increase in Marine and aviation insurance in the backdrop of CPEC.
·         Downside risks: Decline in underwriting margins, deterioration of law and order situation, natural calamities, further decline in equity portfolio.

Alfalah Sec

What are the recommendations? Any suggestions? Should one reduce or completely sell off the holdings in AICL? No good for nothing Finance Minister is just trying to squeeze everything. Just trying to kill every industry that's beginning to take root.

Also, why were their earnings estimates so low to begin with? It earned Rs7.3 in CY15, so why would its earnings go down even before the imposition of this 31% uniform tax rate on all earnings? Were they expecting earnings to come down from last year even before this? For what reason? The insurance business is growing.

When looking at an Insurance business, the most important thing that seperates it from other industries is that there are two mostly non-correlated source of earnings.

You should look into the major drivers of the investment income. To make things a little bit more technical;

Investment Income rules
SECP does not allow insurance companies to record unrealized capital gains as they should be under IFRS. Therefore most the investment income is generally composed of Dividend/Interest Income and capital gains realized only when a security has been sold. As you would have most likely realized, this SECP law has some un-intended side effects. Firstly it means that this allows a company to smooth its earnings over a number of periods since it isnt forced to revalue the securities it holds each quarter to fair value. Thus whenever they want to prop up earnings, they can simply sell and rebuy a security to record gain in their Profit and Loss statement as the profit has now been realized. But, the trend of propping up earnings will only seem feasible if you have a suitable buffer of large unrealized gains sitting on your portfolio. Because if the buffer evaporates, you wont have the ability to present a stable profit figure the next year.

Why I thought AICL Investment would fall
In the case of Adamjee, they had almost 10bn rs worth of unrealized gains buffer available in 2014, which as of last closing had fallen to 4.6ishbn due to 1/. realizing almost 1.2ish bn rs capital gains each year  and 2/. the value of some of their most valuable holdings fell a lot.  If you were to look even further you would see that most of the remaining unrealized gain(almost 3bn) now lies in their group company holdings, which you can be certain they wont sell. Thus since capital gains account for almost 52-55% of their total investment income, I expected their investment income to fall as they had a very small buffer left for 2016.   I may have to revise that now that as stock market is performing better, but so far the the first quarter results have been grossly inline with my expectation.

Underwriting Expectations and Conclusions
Although Adamjee has a bad history of underwriting in the last 5 years, after the last management change they've changed strategy once more to a growth oriented one. Without going into details, generally when insurance policies are short-tailed( smaller duration till re-evaluation) higher growth in Premiums would naturally result in lower claims ratio as long as the growth keeps momentum. When the growth will begin to reverse, claims ratio will start to rise. Most general insurance contracts in Pakistan are short-tailed.  Since I expect the  Industry to grow by 12-15% for the forseeable future, I think current claims ratio are maintainable excluding one-off unforeseeable eventsin the Fire insurance business. I expect 1-1.2bn underwriting profits for 2016. My full year earnings expectation which I made at the start of the year was 6.6-6.8ish/share but I have yet to revise it downwards because of the uniform corporate tax rate on investment income and slightly upwards for better stock market performance. Im a bit lazy but will get around to it one of these days and update here. Roughly estimated, the uniform tax rate would shave atleast 1rs/share off my expectation.

Lastly I dont want to brag but you shouldnt put too much trust in the Insurance earnings estimate of most sell side research houses, most guys dont even spend the time to actually read up on it and bring numbers out of thin air. Case in point are the topline retards amongst others who posted 9rs expectation for AICL last year. The Alfalah securities report is okayish, I know the guy who made it and hes one of the few who read up. But I think hes being way too harsh.
Title: Re: AICL -- Adamjee Insurance
Post by: Sharoze123 on June 22, 2016, 12:10:31 PM
As to what you should replace it with, I would say go for consumption related industries, transportation-automobile companies and in manufacturing cement/steel sector are good bets especially if the political situation remains mellow.
As for specific companies without going into details, I really like this company called SPEL , which is FMCG/Auto-mobile growth related. I like SHELL which I think will have a bumper quarter now that the inventory losses have shallowed out.
In cement I think Cherat Cement will be the best performer 1 year from now, largely because most cement analysts in the sell side are stupid when it comes to anything related to the sector/quota dynamics. Most dont realize Cherat's new plant will run at the current quota capacity utilization, and those that do dont have the basic sense to run all the old surplus production on the new more efficient plant. DGKC is really cheap but goddamit it moves too slow. For steel i think a really ballsy bet is Dost steel, its the third biggest rebar producer in the country at dirt cheap rates. If the rights go through it should go through the roof. IN autos, HCAR first and Indu second.
Title: Re: AICL -- Adamjee Insurance
Post by: momo on June 22, 2016, 07:26:27 PM
AICL: Uniform tax rate to serve as a major deterrent
In a major development, a uniform 31% tax rate on all income sources of insurance companies has been levied in budget FY17. We see this as a material negative event for Adamjee Insurance Company Limited (AICL). With underwriting income barely breaking even, major contribution to the bottom line comes from dividends and capital gains from investment portfolio, that are currently taxed at 12.5% (7.5% for power companies) and 0-15% (depending on the holding period) respectively. As a result the effective tax rate remains restricted near the 10% mark (CY12-15 average effective tax rate: 8.6%). After incorporating 31% straight tax on all income sources of the company, the effective tax rate of AICL spikes up to 21/28% for CY16/17, chopping of CY16/17/18 EPS estimates by 12/16/16% to PKR5.8/6.0/6.4.
Due to the limitations of sum of the parts methodology, we cannot incorporate the valuation impact of increase in tax on investment income. To overcome the aforementioned limitation we have calculated the valuation impact using opportunity cost approach, whereby we increase the discount on investment portfolio to the extent that the dividend yield before and after incorporation of tax, remains same. Overall this methodology results in –ve TP impact of PKR7.0/sh and our revised Dec-16 TP arrives at PKR50.2/sh (down 12.2% from previous TP).
Recommendation
With a revised Dec-16 TP of 50.2/sh (down 12.2% from previous TP of 57.2/sh) we maintain AICL’s a Neutral rating. Taking into account the increase in tax rates, we revise down our CY16/17/18E EPS by 12/16/16% to PKR5.8/6.0/6.4.
Key valuation methodology & triggers
·         Dec-16 price target: PKR50.2/sh based on sum of the parts valuation methodology
·         Key triggers: Translation of robust topline growth in life business to its bottom line, further improvement in underwriting margins, growth in motor segment, power projects planned under CPEC, increase in Marine and aviation insurance in the backdrop of CPEC.
·         Downside risks: Decline in underwriting margins, deterioration of law and order situation, natural calamities, further decline in equity portfolio.

Alfalah Sec

What are the recommendations? Any suggestions? Should one reduce or completely sell off the holdings in AICL? No good for nothing Finance Minister is just trying to squeeze everything. Just trying to kill every industry that's beginning to take root.

Also, why were their earnings estimates so low to begin with? It earned Rs7.3 in CY15, so why would its earnings go down even before the imposition of this 31% uniform tax rate on all earnings? Were they expecting earnings to come down from last year even before this? For what reason? The insurance business is growing.

When looking at an Insurance business, the most important thing that seperates it from other industries is that there are two mostly non-correlated source of earnings.

You should look into the major drivers of the investment income. To make things a little bit more technical;

Investment Income rules
SECP does not allow insurance companies to record unrealized capital gains as they should be under IFRS. Therefore most the investment income is generally composed of Dividend/Interest Income and capital gains realized only when a security has been sold. As you would have most likely realized, this SECP law has some un-intended side effects. Firstly it means that this allows a company to smooth its earnings over a number of periods since it isnt forced to revalue the securities it holds each quarter to fair value. Thus whenever they want to prop up earnings, they can simply sell and rebuy a security to record gain in their Profit and Loss statement as the profit has now been realized. But, the trend of propping up earnings will only seem feasible if you have a suitable buffer of large unrealized gains sitting on your portfolio. Because if the buffer evaporates, you wont have the ability to present a stable profit figure the next year.

Why I thought AICL Investment would fall
In the case of Adamjee, they had almost 10bn rs worth of unrealized gains buffer available in 2014, which as of last closing had fallen to 4.6ishbn due to 1/. realizing almost 1.2ish bn rs capital gains each year  and 2/. the value of some of their most valuable holdings fell a lot.  If you were to look even further you would see that most of the remaining unrealized gain(almost 3bn) now lies in their group company holdings, which you can be certain they wont sell. Thus since capital gains account for almost 52-55% of their total investment income, I expected their investment income to fall as they had a very small buffer left for 2016.   I may have to revise that now that as stock market is performing better, but so far the the first quarter results have been grossly inline with my expectation.

Underwriting Expectations and Conclusions
Although Adamjee has a bad history of underwriting in the last 5 years, after the last management change they've changed strategy once more to a growth oriented one. Without going into details, generally when insurance policies are short-tailed( smaller duration till re-evaluation) higher growth in Premiums would naturally result in lower claims ratio as long as the growth keeps momentum. When the growth will begin to reverse, claims ratio will start to rise. Most general insurance contracts in Pakistan are short-tailed.  Since I expect the  Industry to grow by 12-15% for the forseeable future, I think current claims ratio are maintainable excluding one-off unforeseeable eventsin the Fire insurance business. I expect 1-1.2bn underwriting profits for 2016. My full year earnings expectation which I made at the start of the year was 6.6-6.8ish/share but I have yet to revise it downwards because of the uniform corporate tax rate on investment income and slightly upwards for better stock market performance. Im a bit lazy but will get around to it one of these days and update here. Roughly estimated, the uniform tax rate would shave atleast 1rs/share off my expectation.

Lastly I dont want to brag but you shouldnt put too much trust in the Insurance earnings estimate of most sell side research houses, most guys dont even spend the time to actually read up on it and bring numbers out of thin air. Case in point are the topline retards amongst others who posted 9rs expectation for AICL last year. The Alfalah securities report is okayish, I know the guy who made it and hes one of the few who read up. But I think hes being way too harsh.

Agreed with you. I knew a lot of those things, but just wanted to get peoples' opinions. Sold AICL a couple weeks ago, but thanks for the comments. It'll be good to buy insurance companies again when their price re-rates post impact of the taxation rules.

As to what you should replace it with, I would say go for consumption related industries, transportation-automobile companies and in manufacturing cement/steel sector are good bets especially if the political situation remains mellow.
As for specific companies without going into details, I really like this company called SPEL , which is FMCG/Auto-mobile growth related. I like SHELL which I think will have a bumper quarter now that the inventory losses have shallowed out.
In cement I think Cherat Cement will be the best performer 1 year from now, largely because most cement analysts in the sell side are stupid when it comes to anything related to the sector/quota dynamics. Most dont realize Cherat's new plant will run at the current quota capacity utilization, and those that do dont have the basic sense to run all the old surplus production on the new more efficient plant. DGKC is really cheap but goddamit it moves too slow. For steel i think a really ballsy bet is Dost steel, its the third biggest rebar producer in the country at dirt cheap rates. If the rights go through it should go through the roof. IN autos, HCAR first and Indu second.

Thank you. I've owned or own most of the companies you mentioned. Don't really care for Dost Steel much as I don't know how the company will perform. I think FCCL will be a better investment than Cherat if it comes down in the higher 20's or lower 30's. Owned Cherat before but sold it as it was getting richly valued in my opinion.

Title: Re: AICL -- Adamjee Insurance
Post by: alicima on July 15, 2016, 04:03:00 PM
(http://i67.tinypic.com/avjx2x.jpg)
Title: Re: AICL -- Adamjee Insurance
Post by: rational.investor on July 15, 2016, 11:36:02 PM
(http://i67.tinypic.com/avjx2x.jpg)

Cannot draw anything from it as such. Very small amount for MCB.
Title: Re: AICL -- Adamjee Insurance
Post by: SBM on July 16, 2016, 04:47:25 PM
(http://i67.tinypic.com/avjx2x.jpg)

Cannot draw anything from it as such. Very small amount for MCB.

92 million cap gain before taxes .. roughly
Title: Re: AICL -- Adamjee Insurance
Post by: alicima on July 22, 2016, 04:30:05 PM
(http://i63.tinypic.com/2dlvqew.jpg)
Title: Re: AICL -- Adamjee Insurance
Post by: alicima on August 08, 2016, 02:43:32 PM
(http://i63.tinypic.com/skxa3d.jpg)
Title: Re: AICL -- Adamjee Insurance
Post by: Valueestimator on August 08, 2016, 08:18:23 PM
(http://i63.tinypic.com/skxa3d.jpg)

Why they used the passive tense ,"mcb bank has been sold" it should be 'the bank has sold aicl shares"
Title: Re: AICL -- Adamjee Insurance
Post by: Farhan Kermani on August 08, 2016, 08:50:21 PM
Although the english suggests that MCB has bought 1,74 Mn shares @ 52 each.
Title: Re: AICL -- Adamjee Insurance
Post by: alicima on August 09, 2016, 01:00:08 PM
(http://i66.tinypic.com/2mdnlg6.jpg)
Title: Re: AICL -- Adamjee Insurance
Post by: SBM on August 09, 2016, 08:44:33 PM
Although the english suggests that MCB has bought 1,74 Mn shares @ 52 each.

mcb is the seller
another case of bad english
Title: Re: AICL -- Adamjee Insurance
Post by: btires on September 01, 2016, 05:39:19 AM
AOA
kindly  pls advice can i sell Aicl or hold because it complete dead from last many months
and what is future ?
thanks
Title: Re: AICL -- Adamjee Insurance
Post by: btires on September 02, 2016, 06:55:15 PM
Total khmoshi ?
Title: Re: AICL -- Adamjee Insurance
Post by: Farzooq on September 04, 2016, 10:29:45 PM
AOA
kindly  pls advice can i sell Aicl or hold because it complete dead from last many months
and what is future ?
thanks

Result was good. Hold it.
Title: Re: AICL -- Adamjee Insurance
Post by: btires on September 05, 2016, 07:50:54 AM
Thanks Farzooq bhai
Title: Re: AICL -- Adamjee Insurance
Post by: Valueestimator on October 02, 2016, 09:10:08 PM
Target 75 in one year IA
Title: Re: AICL -- Adamjee Insurance
Post by: momo on October 05, 2016, 04:23:48 AM
Target 75 in one year IA

Do you not think that the tax on all income at the normal tax rate will have a significant impact on earnings?
Title: Re: AICL -- Adamjee Insurance
Post by: KREHMAN on November 04, 2016, 09:59:03 AM
ALL ABOUT AICL,  :clap1:
Title: Re: AICL -- Adamjee Insurance
Post by: Valueestimator on November 04, 2016, 01:44:17 PM
Target 75 in one year IA

Do you not think that the tax on all income at the normal tax rate will have a significant impact on earnings?

there is huge growth in underwriting business and investment income, tax impact will be mitigated. moreover, if it makes 8 rs., than its worth 70+ but its likely to make 10 rs. a year.
Title: Re: AICL -- Adamjee Insurance
Post by: zelmc on November 04, 2016, 02:25:57 PM
Target 75 in one year IA

Do you not think that the tax on all income at the normal tax rate will have a significant impact on earnings?

there is huge growth in underwriting business and investment income, tax impact will be mitigated. moreover, if it makes 8 rs., than its worth 70+ but its likely to make 10 rs. a year.
Should be at least 70+ in Feb/Mar 2017. It needs re-rating.
Title: Re: AICL -- Adamjee Insurance
Post by: raxid on November 28, 2016, 06:46:30 PM
accumulation ho rahi hay AICL main,fly soon
Title: Re: AICL -- Adamjee Insurance
Post by: Valueestimator on December 01, 2016, 03:15:30 PM
accumulation ho rahi hay AICL main,fly soon

it deserves a rally, as its investment portfolio has appreciated a lot during last 2 months.
Title: Re: AICL -- Adamjee Insurance
Post by: Moazzam on December 06, 2016, 08:32:03 AM
AICL is looking good at present levels

- According to the September 2016 Quarter results, the company's net premium revenue increased to Rs 2.516 billion in this period against Rs 2.046 billion in the same period last year while net claims increased to Rs 1.623 billion against Rs 1.250 billion. The company's profit before tax increased to Rs 1,587.833 million in this period against Rs 623.659 million in the same period last year. The company's profit after tax for nine month period ended September 30, 2016 increased to Rs 2.834 billion translating into earning per share of Rs 8.10 as compared to PAT of Rs 2.178 billion with EPS of Rs 6.23 in the same period last year. Major reason for increase in profit was some realized capital gains on investments.

 - AICL is holding 17 billion investment portfolio as at 30 September 2016. (Rs. 8 billion in related parties and Rs. 9 billion other than related parties)This factor, in addition to increase in insurance business, is making this scrip more attractive at present market levels.




Title: Re: AICL -- Adamjee Insurance
Post by: leraningtheropes on December 06, 2016, 10:40:38 AM
What do you guys think the fair value of this share should be considering earning for last 3 quarters has been Rs. 8.10 and could very likely close the year with an eps of rs. 10+ ?
Title: Re: AICL -- Adamjee Insurance
Post by: sAr on December 06, 2016, 12:30:04 PM
accumulation ho rahi hay AICL main,fly soon

it deserves a rally, as its investment portfolio has appreciated a lot during last 2 months.

 :thumbsup_anim:
Title: Re: AICL -- Adamjee Insurance
Post by: Ain on December 07, 2016, 11:25:55 PM
Tp?
Title: Re: AICL -- Adamjee Insurance
Post by: ahsan28 on December 08, 2016, 07:54:21 PM
TP of 80 heard about this script
Title: Re: AICL -- Adamjee Insurance
Post by: HaroonAshraf on December 08, 2016, 10:00:43 PM
TP 80 time frame ?
Title: Re: AICL -- Adamjee Insurance
Post by: zahid on December 23, 2016, 02:18:28 PM
100+ ke awazian a rahe hain upto full year result...
Title: Re: AICL -- Adamjee Insurance
Post by: valueinvestorpakistan on December 24, 2016, 12:41:26 PM
AICL: Reasons to buy
The recent growth and improvement in core opeations
Impressive investment portfolio
High demand for Life Insurance and Islamic Insurance.

Source: http://bit.ly/2i4fmEU
Title: Re: AICL -- Adamjee Insurance
Post by: alidxb on December 24, 2016, 01:36:24 PM
Satta can take it to Rs. 120. But long term buying should be done on weakness.
Title: Re: AICL -- Adamjee Insurance
Post by: MZ on December 29, 2016, 06:20:23 PM
AICL: Recent rally has priced in all the improvements
 
After lagging behind the benchmark index in most of CY16 (AICL underperformed KSE100 by 24% in 9MCY16) AICL has started catching up in the last quarter of the outgoing year giving a return at par with the market. The impetus came from (1) double digit growth in topline (net premium revenue up 19.4% YoY in 9MCY16), (2) strong 3QCY16 result (hefty capital gains, healthy UW margins and lower effective tax rate resulting in a 134% YoY increase in 3QCY16 EPS), (3) increase in value of investments as KSE100 index spiked by 41.2/14.5% CYTD/4QTD and (4) rumors of public offering of life business.
In line of above mentioned developments we revisit our investment case for AICL tweaking our underwriting margins and net premium growth assumptions, updating investment portfolio to latest prices and narrowing our illiquidity discount assumptions to 25% (consistent with our investment universe), we have also upward revised the investment value in life business in line with the latest PB multiples of listed peers. Overall after incorporating the above mentioned changes we arrive at a rolled forward Dec-17 TP of PKR76.7/sh, moreover trading at CY17/18E PE of 10.3/9.2x and offering an downside of 0.6% we assign a Neutral rating on the scrip.

Alfalah Securities (Pvt.) Ltd
Title: Re: AICL -- Adamjee Insurance
Post by: Farzooq on January 17, 2017, 03:31:48 PM
AICL: Improvement in profitability to continue going forward, 'Buy'
 
January 17, 2017 (JS Research)

We anticipate Adamjee Insurance (AICL) to continue to show improvement in core operations in 4Q2016, where we expect earnings to clock in 4x YoY higher at Rs884mn (EPS: Rs2.53).
We expect earnings growth to stem from 87% YoY higher Underwriting Profits. Moreover, we can also expect reasonable capital gains as the KSE-100 index gained 18% in 4Q2016.
We expect AICL's earnings in 2016 to clock-in 46% YoY higher at Rs3.72bn (EPS Rs10.62), where impressive bottom-line growth is expected on the back of 44% YoY higher Underwriting Profits and 67% YoY higher Investment Income.   
We project Underwriting Profit Margin in 2016 at 13% compared to 11% in 2015 with Motor Segment and Miscellaneous Segment contributing most towards improvement in core profitability.
We expect a final cash dividend of Rs2.75/share in 4Q2016, taking full year dividend payout to Rs4.25/share.
We reiterate our 'Buy' call on AICL with a Dec-2017 Target Price of Rs92, offering a potential upside of 25%.
Title: Re: AICL -- Adamjee Insurance
Post by: SBM on January 17, 2017, 03:34:25 PM
Target 75 in one year IA

4 months mein hogiya
Title: Re: AICL -- Adamjee Insurance
Post by: sumbul on January 19, 2017, 05:31:20 PM
Why such huge volumes (from its perspective) in it today. Sign of an upcoming rally  :skeptic:
Title: Re: AICL -- Adamjee Insurance
Post by: zelmc on January 19, 2017, 08:48:27 PM
A move towards 90 is expected soon.
Title: Re: AICL -- Adamjee Insurance
Post by: jamalakhter on January 20, 2017, 11:55:14 AM
A move towards 90 is expected soon.

                                         but y huge selling pressure at 75--74------------?
Title: Re: AICL -- Adamjee Insurance
Post by: alicima on January 20, 2017, 03:00:18 PM
(http://i68.tinypic.com/c6kas.jpg)
(http://i64.tinypic.com/2igehcm.jpg)
Title: Re: AICL -- Adamjee Insurance
Post by: jamalakhter on January 20, 2017, 09:43:42 PM
(http://i68.tinypic.com/c6kas.jpg)
(http://i64.tinypic.com/2igehcm.jpg)
           
                                    Y sold shares of related company---------?
Title: Re: AICL -- Adamjee Insurance
Post by: zahid on January 23, 2017, 12:43:54 PM
100+ ka target mill raha hai upto feb 2017...
Title: Re: AICL -- Adamjee Insurance
Post by: raxid on January 30, 2017, 05:51:21 PM
strong buy call AICL @72 or bellow it
Title: Re: AICL -- Adamjee Insurance
Post by: zahid on February 02, 2017, 12:04:34 PM
100+ in Feb In Sha Allah...
Title: Re: AICL -- Adamjee Insurance
Post by: Gozubairgo on February 11, 2017, 12:54:57 AM
Chaloo Bhai loggo aik aur item tayyar hogaya Monday se
Strong Buy Adamjee Insurance targeting 94rs
Title: Re: AICL -- Adamjee Insurance
Post by: Aahaf on February 11, 2017, 02:02:16 AM
Bhai ne bola to chalega sala
Title: Re: AICL -- Adamjee Insurance
Post by: sabir.hussain on February 11, 2017, 02:18:22 PM
Ye nahi chlta :biggthumpup:
Title: Re: AICL -- Adamjee Insurance
Post by: Gozubairgo on February 13, 2017, 12:04:14 PM
Ye nahi chlta :biggthumpup:
Laooo maaaàaal adamjeee
Kaisay nahin chalta
Iski aisee ke taisii
Title: Re: AICL -- Adamjee Insurance
Post by: zahid on February 13, 2017, 01:22:13 PM
100+ ka Target Hai In Sha Allah in Feb.. :dance :dance :dance :dance
Title: Re: AICL -- Adamjee Insurance
Post by: MZ on June 01, 2017, 08:57:19 PM
AICL: TP revised to Rs90, 'Buy' intact

 
 (JS Research)


 We update our investment case for Adamjee Insurance Co Ltd (AICL) incorporating 1Q2017 detailed accounts and recent budgetary measures.
 We cut our 2017E earnings estimate by 5% owing to extension of 3% Super Tax for another year, while we also reduce our Target Price to Rs90 from Rs91 previously.
Our 'Buy' rating on AICL remains intact, offering a potential upside of 15% along with 2017E D/Y of 4%.
We highlight stock market volatility for investment income and economic downturn for underwriting business as key risks.
In 1Q2017, AICL's net earnings clocked in 4% YoY lower at Rs1.95/share, however before-tax earnings witnessed an increase of 30% YoY.
    The increase in before-tax earnings was led by 42% YoY higher Underwriting Profits on the back of across the board increase in topline.
Title: Re: AICL -- Adamjee Insurance
Post by: Farzooq on August 28, 2017, 11:36:09 AM
AICL: 1H2017 EPS likely to decline on higher taxes
 
August 28, 2017 (JS Research)

Adamjee Insurance Co Ltd (AICL) is scheduled to announce its 1H2017 result on August 29, 2017, where we expect AICL to post Net Earnings of Rs1.17bn (EPS: Rs3.35), down 20% YoY lower.
However, while Earnings before Tax are likely to increase by 5% YoY during the same period.
We expect 1H2017 Underwriting Margins to remain stable at 14% (+9bps YoY).
2Q2017 earnings are expected to clock in at Rs492mn (EPS: Rs1.41), down 36%/28% YoY/QoQ, respectively.
We keep our 'Buy' rating int