LAHORE (PPI) All listed non-life insurance companies of Pakistan have announced their 1Q2011 results citing impressive 60 percent growth in bottomline. Excluding a large jump of Rs 255m in earnings of Central Insurance, the sector profit growth come to 32pc. Thanks to some stability in macro economic indicators, better equity values and higher interest rates, the growth in earnings stems from core underwriting business and higher investment income. With better outlook of capital markets, gradual economic recovery and availability of ample avenues for business penetration, overall scenario looks better for the insurance business. Thanks to 9pc growth in net premiums of the sector with net claims ratio remaining unchanged at 59pc, underwriting business of the companies grew by an impressive 32pc. This 59pc claim ratio is still considerably lower than highest 64pc (in 2007) claim ratio in last 5 years. Similarly, combined ratio of the sector improved to 79pc from 80pc due to lower expense ratio witnessed in 1Q2011. Interestingly, administrative expenses remained controlled and grew by 7pc. Moreover, high interest rate scenario, better capital markets and provisioning reversals led investment income to grew by impressive 60pc, thus further augmenting the bottom line of the non-life insurance sector. Company wise performance shows that in 1Q2011 most of the companies posted a turn around in earnings. Central insurance posted highest earnings growth of 392 percent primarily due to Rs 142 million provision reversals while the largest insurer Adamjees profit grew by 17 percent.