Material Information of Pakistan Reinsurance Company Limited

Material Information

Karachi, Pakistan Reinsurance Company Limited informed Pakistan Stock Exchange Consequent upon the resolution of the Board of Directors of the Company, Dr. Faiz Illahi Memon (BE-21 / IRS Group), a SLIC nominee on PRCL Board, is hereby assigned the look after charge of the post of Chief Executive Officer of PRCL, in addition to his own duties as Executive Directors, State Life Insurance Corporation of Pakistan with effect from July 07, 2021 to October 06, 2021 for a period of three months or till the appointment of a regular incumbent, whichever is earlier.

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.