|
Pakistan Reinsurance
Company Limited |
|
|
|
| Statement
of Cash Flow |
|
| for
the year March 31, 2003 (Unaudited) |
|
|
Rupees '000' |
|
Rupees '000' |
|
|
March 31, |
|
March 31, |
|
| Operating
Cash Flows; |
|
| Underwriting
activities:- |
|
|
| Primium received |
|
1,291,626 |
|
737,652 |
|
| Reinsurance premium paid |
|
(717,830) |
|
(303,662) |
|
| Cliams paid |
|
(306,258) |
|
(258,688) |
|
| Reinsurance
and other recoveries received |
|
187,886 |
|
56,878 |
|
| Commission paid |
|
(176,732) |
|
(215,185) |
|
| Commission
received |
|
52,701 |
|
57,806 |
|
| Due from
person carrying on insurance business |
|
(136,039) |
|
(265,168) |
|
| Due to
person carrying on insurance business |
|
(158,491) |
|
58,448 |
|
| Deposits
received from / paid to ceding companies |
|
(17,125) |
|
20,921 |
|
| Expenses paid |
|
(22,022) |
|
(20,672) |
|
| Net
cash flows from underwriting activities |
|
(2,284) |
|
(131,688) |
|
|
|
|
|
| Other
Operating Activities |
|
|
|
|
|
|
|
|
| Income tax
paid |
|
- |
|
(42,000) |
|
| General
management expenses paid |
|
(2,151) |
|
(797) |
|
| Interest /
dividend / rental income receipts |
|
36,121 |
|
28,740 |
|
| Loans,
advances, deposits and prepaid |
|
(1,375) |
|
- |
|
| Advance,
deposits received / adjusted |
|
(105,555) |
|
(1,377) |
|
| Premium
reserve net |
|
106,894 |
|
27,259 |
|
| Reserve for
outstanding claims |
|
- |
|
22,200 |
|
| Other receipts |
|
- |
|
4,401 |
|
| Other
payments |
|
(37) |
|
(57) |
|
| Net
cash flows from other operating activities |
|
33,897 |
|
38,369 |
|
|
|
|
|
| Total
cash flow from all operatoing activities |
|
31,613 |
|
(93,319) |
|
|
|
|
| Investment
activities |
|
|
|
| Fixed
Capital expenditure |
|
(104) |
|
(24) |
|
| Acquisition
of Investments |
|
- |
|
(224,795) |
|
| Sale
proceeds of investments |
|
- |
|
- |
|
| Total
Cash Flow from investment activities |
|
(104) |
|
(224,819) |
|
|
|
|
| Financing
activities |
|
|
|
| Dividend paid |
|
- |
|
- |
|
| Transfer
of reserves |
|
- |
|
271,097 |
|
| Transfer of
share capital |
|
- |
|
- |
|
| Issue
of share capital |
|
- |
|
- |
|
| Total
cash flow from financing activities |
|
|
|
271,097 |
|
|
|
|
|
| Net
cash flow from all activities |
|
31,509 |
|
(47,041) |
|
| Cash and
cash equivalents at beginning of the year |
|
130,867 |
|
75,096 |
|
|
|
|
|
| Cash and
cash equilents at end of the quarter |
|
162,376 |
|
28,055 |
|
|
|
| (Naheed Hyder) |
|
Maj. ® Mohammad Fazal Durrani |
M. Sharif Ijaz Ghauri |
Fazalur Rehman Dittu |
|
| Executive
Director (F&A) |
|
Chief Executive |
|
Director |
|
Director |
|
|
| Karachi,
June 19, 2003 |
|
|
|
|
|
|
|
|
|
|
|
|