PAKISTAN REINSURANCE COMPANY LIMITED
STATEMENT OF EXPENSE
FOR THE YEAR ENDED DECEMBER  31, 2004
 
Deferred Commission   Net underwriting expense
Class  Commission paid or payable Opening  Closing Net commission expense Other management expenses Underwriting expense Commission from reinsurers Opening  Closing Net commission retrocession Dec   31,  2004 Dec  31,  2003
(A) (B) (C) (D=A+B-C) (E) (F=D+E) (G) (H) ( I ) (J=G+H-I) (K=F-J)
Direct and ----------------------------------------------------------------------------------R u p e e s-------------------------------------------------------------------
Facultative Fire 22,814,311 11,313,046 10,901,577 23,225,780 4,134,182 27,359,962 31,754,018 11,456,543 14,233,384 28,977,177 (1,617,215) (2,866,694)
Marine Cargo 114,573 23,777 36,758 101,592 3,061,840 3,163,432                  -                   -                    -                           -   3,163,432 21,319
Marine Hull 2,818,048 1,014,395 1,961,017 1,871,426 1,852,360 3,723,786 4,550,705 1,669,105 3,373,230 2,846,580 877,206 (183,862)
Accident 369,675 247,371 201,631 415,415 3,021,959 3,437,374 21,394 238,805 6,528 253,671 3,183,703 (41,974)
Aviation 1,675,874 489,577 906,252 1,259,199 3,383,065 4,642,264 8,801,629 3,136,243 5,004,732 6,933,140 (2,290,876) 5,303,400
Engineering 8,598,975 23,738,641 9,289,356 23,048,260 2,122,224 25,170,484 38,026,833 31,472,204 24,641,380 44,857,657 (19,687,173) (12,540,356)
 Total 36,391,456 36,826,807 23,296,591 49,921,672 17,575,630 67,497,302 83,154,579 47,972,900 47,259,254 83,868,225 (16,370,923) (10,308,167)
Comp.  TREATY Proportional 887,620,878 457,506,503 488,054,780 857,072,601 116,450,236 973,522,837 42,896,254 26,790,095 20,880,643 48,805,706 924,717,131 370,226,964
Grand Total 924,012,334 494,333,310 511,351,371 906,994,273 134,025,866 1,041,020,139 126,050,833 74,762,995 68,139,897 132,673,931 908,346,208 359,918,797
The annexed notes form an integral part of these financial statements.
Naheed Hyder Maj (R) Muhammad Fazal Durrani Imtiaz Kazi
Fazlur Rehman Dittu
Executive Director (F&A)
Chief Executive Director
Director