Rukhsana Salim, Chairperson of Pakistan Reinsurance Company Limited has said that the tremendous increase in company's earnings of over Rs 3,726.959 million in 2007 against Rs 671.843 million earned in 2006 was mainly due to teamwork and better planning.
Speaking at a reception held in her honour, arranged by the PRC Employees Union (CBA) here on Tuesday, she announced that the board of directors of the company in its meeting has approved five bonuses for all its employees including all officers.
The PRC's financial results show that despite increase in net claims, expenses and commission, the company's profit after tax increased by over Rs 305.511 million in the calendar year 2007. The company's net premium revenue increased to over Rs 1,694.788 million in 2007 against Rs 1,415.505 million in 2006 On the other hand, the company's net claims increased to Rs 931.289 million in this period against Rs 776.709 million in a year back.
The company's expenses increased to Rs 157.618 million against Rs 146.333 million while net commission surged to Rs 399.881 million against Rs 367.421 million.
"Despite increase in claims, commission and expenses, a record increase in company profit after tax was a big achievement and all the company officers and workers should be appreciated for their contribution", the company's chairperson said. She said that the PRC has now become a reinsurance company of international standard and expressed her hope that the company will grow tremendously in future and its earning will increase in year to come.
"However, we all have to work hard to achieve our future targets so that the company will further grow", she added. She announced that the PRC's employees can get more bonus and other benefits if the company's earnings further improve in the years to come.
The reinsurance sector has much potential here in the country and it will further grow in the country, she said and asked the PRC's workers to increase their effort and to reduce their weaknesses, so that the company will get all available opportunities and benefits.
Ahmed Hussain Qadri, President CBA, in his speech lauded the services of company's chairperson for making the company more profitable. He also appreciated many steps taken for the welfare of company's employees and said that these incentives will encourage its employees to contribute more for further growth of the company.
He said that the chairperson has taken many steps to make the company more profitable after taking charge in February 2007. Ayaz Hussain Gad of Officer Association, Muhammad Wasi General Secretary of CBA and others also spoke on this occasion.
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