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HISTORY

Reliance Insurance Company Limited was incorporated in Pakistan as a public limited company on 4th novmber in the year 1981 with a Share Capital of Rs.5.0 Million by two Leading Industrial Houses of Pakistan, namely (i) AlNoor Group and (ii) Amin Bawany Group. Al-Noor Group is headed by renowned industrialist Mr. Ismail H. Zakaria, who is also the Chairman of Reliance Insurance, while Amin Bawany Group is headed by Mr. Mohammad Amin Ahmed Bawany, who is also the Director of Reliance Insurance. Both the groups having successfully implemented a number of projects are currently leading industrial groups of Pakistan the registered office of the company is situated at 96- A, sindhi muslim co-operative housing society Karachi.

VISION
To be recognized as a professional and dependable business entity committed to play a meaningful role in the development of insurance industry in Pakistan and to safeguard the legitimate interests of all stakeholders, namely policy-holders, share-

MISSION
To provide quality service and protection to its clients aiming at achieving a respectable volume of business and become a prominent player through good governance and sound professionalism focusing to become a well-known and respected Corporate entity in the eyes of Society and Government.

COMPANY INFORMATION

PRODUCTS
It underwrites all classes of General Insurance and enjoys reputation second to none. Apart from the traditional at covers such as Fire, Accident, Motor, Marine (Import & Exports),Loss of Profits, Personal Accident, Group Hospitalization, Workmens Compensation, Burglary, Cash in-Safe or in Transit etc., it also transacts non-traditional cover such as Machinery Breakdown and Loss of Profits following Machinery Breakdown, Contractors All Risks, Erection All Risks, Bond and the like.

OUR SERVICES
Fire Insurance Cargo Insurance Motor Insurance Engineering Insurance Bond & Surety Insurance MISC. / Accident Insurance

FIRE INSURANCE

CARGO INSURANCE

MOTOR INSURANCE

ENGINEERING INSURANCE

BOND & SURETY INSURANCE

MISC./ACCIDENT INSURANCE

PERFORMANCE
Reliance is one of the leading General Insurance Company of Pakistan having a network of 27 Branches at all important places throughout Pakistan employing a full time work force of 242 persons. It underwrites all classes of General Insurance and enjoys reputation second to none.

HEAD OFFICE
"Reliance Insurance House PABX : 34539415-17 181-A, Sindhi Muslim Co-operative Fax : 34539412 Housing Society, E-mail : reli-ins@cyber.net.pk Karachi. ric-re@cyber.net.pk Web : www.relianceins.com

BRANCHES
1.
2. 3.

South Zone Branches Regional Zone Branches North Zone Branches

SOUTH ZONE BRANCHES


1.
2. 3. 4. 5. 6.

M.A. Jinnah Road Branch Business Plaza Branch Namco Centre Branch Tariq Road Branch Land Mark Plaza Branch Hyderabad Branch

REGIONAL OFFICE BRANCHES


1.
2. 3. 4. 5. 6.

Gulberg Branch Eden Centre Branch Al-Rehman Branch Garden Town Branch Khan Plaza Branch Model Town Branch

NORTH ZONE BRANCHES


1.
2. 3. 4. 5. 6. 7.

Gujrat Branch Khanpur Branch Sialkot Branch Gojra Branch Rawalpindi Branch Islamabad Branch Peshawer Branch

BALANCE SHEET

BALANCE SHEET

PROFIT & LOSS ACCOUNT

STATEMENT OF COMPREHENSIVE INCOME


2009 Profit / loss after tax (32644376) 2008 40509843

STATEMENT OF CHANGES IN EQUITY

STATEMENT OF CASH FLOWS

STATEMENT OF CASH FLOWS

STATEMENT OF PREMIUMS

STATEMENT OF CLAIMS

STATEMENT OF EXPENSES

STATEMENT OF INVESTMENT INCOME

KEY FINANCIAL DATA

PROGRESS

Since its establishment Reliance has progressed smoothly and steadily. Its Gross Premium Income has increased from Rs. One Million in 1983 to Rs.506.336 Million in 2009. At the end of 2009 General Reserve stood at Rs.87.50 Million and Technical Reserves at Rs.493.359 Million.

PERFORMANCE REVIEW

PERFORMANCE EDIT TABLE

PEST ANALYSIS

POLITICAL

ECONOMICAL

SOCIAL

TECHNOLOGICAL

SWOT ANALYSIS

STRENGTHS

RIC has established its reputation in domestic as well as international insurance market for quality insurance business and adherence to high ethical and professional standards. Total commitment to customer satisfaction. Highly professional attitude towards underwriting risk and prudent management Practices. Value creation for customers and shareholders alike. Very Strong Claims Paying rating. RIC has one of the HIGHEST Solvency Margins. Customer satisfaction through superior customer service. Prompt settlement of claims. Professional & ethical business practice.

WEAKNESSES
CREDIT facility with them and patients may subsequently seek reimbursement from RIC. Claim procedures need a lot of documentation and verification. Lacks some of the services offered by competitor insurance companies.

OPPORTUNITIES
Increased trend of insurance now days. Car insurance must by government on leased cars. RIC investment bank enjoys repute build by its insurance division. RIC securities services as its another division capitalizing. RIC funds division gives edge over competitors

THREATS
High markup rates discouraged sales of leased cars. Competition by other companies like EFU, ADAMJEE, STATELIFE etc. Changing laws and regulations with every new government. Ministries involved in contracts to governmental clients which cause delay in decision making.

DIRECTORS RECOMMENDATIONS

SECRETES OF SUCCESS OF RIC


Our workforce consists of a combination of youth and experience perfectly suitable to the organizations current requirement and future challenges. The key to our longterm success is the vision of our people and their drive towards excellence. Our employees are exposed to an organizational commitment to continuous personal and professional development. They get involved in various initiatives ranging from management skills, development and personal improvement, to technology advancement and process enhancement. In the result, we are a performance driven culture where high performers are recognized for their exceptional contributions.

OUR MESSEGE

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