Pakistan Reinsurance Company Limited is a Public Sector Company, Governed under the administrative control of Ministry of Commerce. There are seven Directors on the Board of Company, including the Chairman of Board. Out of the seven Directors, four are nominated by Federal Government, one is nominated by State Life Insurance Corporation of Pakistan (SLIC) being a substantial investor, while remaining two are elected from the business community (Minority Shareholders). In addition, there is a Chief Executive Officer and Senior Management who handle the business operations of Company.
Pakistan Reinsurance Company Limited's Role in Economic Development
The role of PRCL in economic development of Pakistan is significant. PRCL awareness of increasing requirements of insurance and reinsurance of a progressive economy is making great efforts in coming up to national expectations. This progress signifies the consolidation of the position, both at home and abroad, encouraging further expansion.
The voluntary cession to PRCL provides attractive and competitive terms to the local insurance Companies.