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Pakistan Reinsurance Company Limited |
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| Profit
and Loss Account |
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| for
the Half Year ended June 30, 2003 (Unaudited) |
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Note |
Fire |
Marine Cargo |
Marine Hull |
Accident |
Aviation |
Engineering |
For Six Months ended June,03 |
For Six Months ended June,02 |
For Three Months ended June,03 |
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-------------------------------------------------------------------------
Rupees
---------------------------------------------------------------------------------- |
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Revenue Account |
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Net premium revenue |
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513,841,817 |
174,282,710 |
870,305 |
478,749,652 |
33,077,083 |
82,675,046 |
1,283,496,613 |
782,323,932 |
698,949,907 |
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Net claims |
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31,930,067 |
100,797,911 |
282,193 |
74,550,397 |
16,441,503 |
26,794,983 |
250,797,054 |
313,167,271 |
132,424,372 |
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Management expenses |
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21,265,796 |
5,907,297 |
17,298 |
21,708,134 |
2,680,895 |
3,533,738 |
55,113,158 |
65,504,118 |
33,090,330 |
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Net commission |
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80,051,963 |
23,327,792 |
(241,158) |
57,163,390 |
(562,441) |
(1,435,032) |
158,304,514 |
259,904,844 |
34,273,634 |
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Underwriting result |
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380,593,991 |
44,249,710 |
811,972
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325,327,731 |
14,517,126 |
53,781,357 |
819,281,887 |
143,747,699 |
499,161,571 |
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Investment income |
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#REF! |
64,496,622 |
#REF! |
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Exchange gain |
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6,931,628 |
(5,202,699) |
10,258,278 |
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Rental income |
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#REF! |
112,776 |
#REF! |
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Other income |
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207,192 |
931,241 |
169,755 |
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#REF! |
204,085,639 |
#REF! |
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General and administration expenses |
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10,411,664 |
10,744,334 |
8,260,194 |
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Provision / reversal of
dimunition in value of Investments |
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Profit before tax |
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#REF! |
193,341,305 |
#REF! |
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Provision for taxation |
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155,300,000 |
68,500,000 |
35,300,000 |
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Profit after tax |
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#REF! |
124,841,305 |
#REF! |
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Profit and loss appropriation account - |
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Opening balance |
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137,852,321 |
54,747,866 |
- |
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Reversal of dimunition in
value of Investments |
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- |
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Transfers (to) / from reserves |
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General reserve |
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Proposed Dividend |
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Profit and loss
appropriation account - closing balance |
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#REF! |
179,589,171
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#REF! |
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The annexed notes form an
integral part of these financial statements. |
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|
Naheed Hyder |
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Maj (R) Mohammad Fazal Durrani |
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__________ |
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__________ |
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Chief Executive |
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Director |
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Director |
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Karachi, August
20, 2003 |
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