PAKISTAN REINSURANCE COMPANY LIMITED

STATEMENT OF PREMIUMS

FOR THE YEAR ENDED DECEMBER 31, 2004

Prepaid Reinsurance

Net premium revenue

Unearned premium reserve

Premium ceded

Class

Premium Written

Opening

Closing

Premium earned

Re-insurance Ceded

Opening

Closing

Re-insurance expense

Dec 31, 2004

Dec 31, 2003

(A)

(B)

(C)

(D=A+B-C)

(E)

(F)

(G)

(H=E+F-G)

(I=D-H)

Direct and

-------------------------------------------------------------------------------------------R u p e e s---------------------------------------------------------------------------------------------------

Facultative

Fire

457,474,278

218,223,968

196,644,563

479,053,683

476,431,000

227,793,734

203,770,415

500,454,319

(21,400,636)

(9,090,655)

Marine Cargo

2,864,300

620,323

918,936

2,565,687

702,529

Marine Hull

35,649,854

13,551,902

25,585,246

23,616,510

36,405,645

14,562,845

26,985,841

23,982,649

(366,139)

(461,214)

Accident

4,006,050

3,870,767

1,712,517

6,164,300

222,351

3,654,373

63,444

3,813,280

2,351,020

273,587

Aviation

1,354,980,628

521,374,029

711,589,895

1,164,764,762

1,339,261,858

506,428,882

705,894,465

1,139,796,275

24,968,487

20,116,674

Engineering

514,804,691

567,870,803

327,248,405

755,427,089

484,170,524

554,604,868

305,239,433

733,535,959

21,891,130

11,515,014

Total

2,369,779,801

1,325,511,792

1,263,699,562

2,431,592,031

2,336,491,378

1,307,044,702

1,241,953,598

2,401,582,482

30,009,549

23,055,935

Comp. TREATY

Proportional

2,871,657,895

1,508,382,382

1,574,790,438

2,805,249,839

513,641,952

179,784,694

147,516,402

545,910,244

2,259,339,595

1,424,423,098

Grand Total

5,241,437,696

2,833,894,174

2,838,490,000

5,236,841,870

2,850,133,330

1,486,829,396

1,389,470,000

2,947,492,726

2,289,349,144

1,447,479,033

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