Reliance Insurance Company Limited’s interim financial statements for the half year ended June 30, 2011 (Unaudited)
Karachi: We have to inform you that the Board of Directors of our company in their meeting held at 11:30 a.m. on Wednesday August 24, 2011, recommended the following:
1. Cash Dividend NIL
An Interim Cash Dividend for period ended June 30, 2011
2. Bonus Issue 12.50%
An Interim Bonus Share / ordinary share for every 8 ordinary shares.
3. Right Shares NIL
The financial results of the company are attached herewith (Profit and Loss Account).
The Share Transfer Book of the Company shall remain closed from 23rd September, 2011 to 30th September, 2011 (both days inclusive).
Transfer received at Company’s Share Registrar Office, M/s. C and K Management Associates (Pvt.) Limited 404-Trade Tower, Abdullah Haroon React Near Hotel Metropole Karachi at the close of business on 22nd September, 2011 will be treated in time f or the purpose to determine entitlement of Bonus Share.
Reliance Insurance Company Limited
Condensed Interim Profit and Loss Account (Unaudited)
For The Quarter and Half Year Ended June 30, 2011
|
(Amount in Rs.) |
||||||
| Fire
and Property |
Marine
Aviation and Transport |
Motor | Misc | 2011 Aggregate | Quarter ended
June 30, 2010 Aggregate |
|
| Revenue Account | ||||||
| Net Premium Revenue | 11,992,448 | 16,060,428 | 23,975,516 | 884,428 | 52,918,820 | 53,932,999 |
| Net Claims | (2,545,459) | (4,977,482) | (16,573,550) | (177,118) | (24,273,609) | (25,405,428) |
| Expenses | (4,454,327) | (5,956,712) | (8,893,474) | (328,073) | (19,632,586) | (17,788,139) |
| Net Commission | (2,270,246) | (2,206,664) | (3,431,851) | 641,203 | (7,267,558) | (8,220,325) |
| ———– | ———– | ———– | ———– | ———— | ———— | |
| Underwriting result | 2,722,416 | 2,919,570 | (4,923,359) | 1,020,440 | 1,739,067 | 2,519,107 |
| ———– | ———– | ———– | ———– | ———— | ———— | |
| Investment Income | 34,493,832 | 17,429,529 | ||||
| Other Income (Profit on sale of Fixed Assets) | 855,969 | 202,719 | ||||
| Financial Charges | – | – | ||||
| General and administration expenses | (5,038,084) | (6,953,439) | ||||
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