Pakistan Reinsurance Company Limited
Profit and Loss Account
for the Half Year ended June 30, 2003 (Unaudited)
Note Fire Marine Cargo Marine Hull Accident Aviation Engineering For Six Months ended June,03 For Six Months ended June,02 For Three Months ended June,03
------------------------------------------------------------------------- Rupees ----------------------------------------------------------------------------------
Revenue Account
Net premium revenue 322,589,525 109,716,046 507,466 328,615,777 24,312,506 53,477,369 839,218,689 782,323,932 254,671,983
Net claims 31,930,067 100,797,911 282,193 74,550,397 16,441,503 26,794,983 250,797,054 313,167,271 132,424,372
Management expenses 21,265,796 5,907,297 17,298 21,708,134 2,680,895 3,533,738 55,113,158 65,504,118 33,090,330
Net commission 80,051,963 23,327,792 (241,158) 57,163,390 (562,441) (1,435,032) 158,304,514 259,904,844 34,273,634
                 
Underwriting result 189,341,699 (20,316,954) 449,133 175,193,856 5,752,549 24,583,680 375,003,963 143,747,699 54,883,647
Investment income 81,270,391 64,496,622 44,779,796
Exchange gain 6,931,628 (5,202,699) 10,258,278
Rental income 5,877,164 112,776 5,877,164
Other income 207,192 931,241 169,755
469,290,338 204,085,639 115,968,640
General and administration expenses 10,411,664 10,744,334 8,260,194
Provision / reversal of dimunition in value of Investments  
 
Profit  before tax 458,878,674 193,341,305 107,708,446
Provision for taxation 155,300,000 68,500,000 35,300,000
Profit  after tax 303,578,674 124,841,305 72,408,446
Profit and loss appropriation account -
  Opening balance 137,852,321 54,747,866                       -
Reversal of dimunition in value of Investments  -
Transfers (to) / from reserves
General reserve
Proposed Dividend
Profit and loss appropriation account - closing balance 441,430,995 179,589,171 72,408,446
The annexed notes form an integral part of these financial statements.
Naheed Hyder
Maj (R) Mohammad Fazal Durrani
 Syed Yawar Ali Fazlur Rehman Dittu
Executive Director (F&A)
Chief Executive
 Director Director
Karachi,  August 20,   2003