Karachi, Reliance Insurance Company Limited informed Pakistan Stock Exchange about the recommendations made by the board of directors in the meeting held at Karachi on August 30, 2021.
The agenda of the meeting was discussion of profit and loss account for quarter ended June 30, 2021 which portrayed a profit of Rs. 19,173,145 with earnings per share 0.32 basic and diluted respectively.
Further, nil payment of cash dividend, bonus shares and right shares was agreed.
Reliance Insurance Company Limited was incorporated in Pakistan as a public limited company on November 4, 1981. The Company is engaged in general insurance business and has also been allowed to undertake General Window Takaful operations on May 25, 2016.
Reliance Insurance being jointly owned by two prestigious industrial groups of Pakistan. Its major sponsors are Al-Noor Group and Amin Bawany Group.
The total numbers of shares of the Company are 60,351,880. The Earnings per shares is 1.22 in 2020 which was 1.27 in 2019. The Profit After Taxation is 68,495,000 in 2020 which was 71,211,000 in 2019.