Financial results of Reliance Insurance Company Limited for Year ended December 31, 2017

Karachi, Reliance Insurance Company Limitedinformed Pakistan Stock Exchange about the recommendations made by the board of directors in the meeting held at Karachi on March 27, 2018.

The agenda of the meeting was discussion of profit and loss account for year ended December 31, 2017 which portrayed a loss of Rs. 46,744,853 with loss per share 0.83 basic and diluted respectively.

Further, nil payment of cash dividend, bonus shares and right shares was agreed.

Furthermore, the share transfer books of the company will remain closed from April 20, 2018 to April 28, 2018 (both days inclusive).

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. Its registered office is located in Karachi. The shares of the company are quoted on the Karachi and Lahore Stock Exchanges of Pakistan and it is registered with Central Depository Company of Pakistan Limited.

The company is jointly owned by two industrial groups the Al-Noor Group and the Bawany Group. The company has a nationwide branch network with 25 operating stations spread in all the major cities of Pakistan. The products of the company are fire, marine, marine hull, motor, engineering, bond/ guarantee, terrorism, aviation and miscellaneous insurances.

The symbol “RICL” is being used by the stock exchanges for the shares of Reliance Insurance Company Limited.

Leave a Reply