Reinsurance is the further dissemination of risk from an insurance business to a reinsurance company. Insurance is the distribution of risk among the insured population.
Reinsurance has no contractual relationship with the public, whereas insurance does.
Pakistan Reinsurance Company Limited provides reinsurance coverage to insurance sector companies operating in Pakistan, pertaining to Proportional and Non-Proportional basis. These coverages are offered vide Facultative and/or Treaty agreement basis.
No, as a reinsurer, PRCL works directly with insurance companies rather than the public.
