Categorie: IPO / Secondary Offering
Submitted 7 months ago by
Xpertwriter
, CEO At E-HostingJunction.com
at Spectrum Resumes , Inc
Formerly called the "Pakistan Insurance Corporation", Pakistan Reinsurance Company Limited is the only professional reinsurance organisation operating in Pakistan.Its principal business is provision of insurance and reinsurance services in all classes except life. The company provides fire, aviation, engineering, accident and marine insurances. The company has an 18% share of the insurance market and a 45% share of the reinsurance sector in Pakistan. The company has been placed on the privatization list by the government.The company accepts 15 percent compulsory quota share from the general insurance companies operating in Pakistan who are also required to offer at least 35 percent obligatory surplus to PRCL. It also accepts local facultative business and foreign treaty and facultative cessions.INDUSTRY: The recent political instability followed by the assassination of former Prime Minister Benazir Bhutto, elections and its preceding violence have led to an increase in premiums charged by the insurance companies, which will have a positive impact on the profit and loss statements of these companies at least in the near future.The insurance industry of Pakistan forms a minimal portion of the GDP compared to other nations of the world. With penetration of merely 0.5%, the industry is still in its beginning stage due to lower demand.Pakistan's insurance sect...
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Submitted 7 months ago by
Xpertwriter
, CEO At E-HostingJunction.com
at Spectrum Resumes , Inc
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