Karachi, Pak Reinsurance Company Limited informed Pakistan Stock Exchange about the recommendations made by the board of directors in the meeting held at Karachi on August 25, 2021.
The agenda of the meeting was discussion of profit and loss account for quarter ended June 30, 2021 which portrayed a loss of Rs. 21,352,154 with loss per share 0.07 basic and diluted respectively.
Further, nil payment of cash dividend, bonus shares and right shares was agreed.
Pakistan Reinsurance Company Limited was incorporated in Pakistan as a public limited company on March 30, 2000. The Company is engaged in providing of reinsurance and other insurance business.
The company provides insurance solutions to departments including Aviation, Marine Cargo, Marine Hull, Engineering, Fire and Accident. It provides reinsurance protection to the local insurance industry in view of treaty and facultative business as well as managing insurance schemes assigned by the Federal Government of Pakistan.
The total number of shares are 300,000,000. The Earnings per share is 4.64 in 2020 which was 4.95 in 2019. The Profit after Taxation is 1,391,439,000 in 2020 which was 1,484,283,000 in 2019.