Reliance Insurance Co Ltd · PSX:RICL
Reliance Insurance — Corporate Update (2024)
20 slides from Reliance Insurance's corporate update, 2024
Slide 1: Corporate Briefing Session 2024
Corporate Briefing Session 2024 RELIANCE INSURANCE COMPANY LIMITED
Slide 2: Journey Towards a Secure and Insured Future
Rolionce Insurance Company Limited Reliance Insurance Company Limited JOURNEY TOWARDS As we consider our self to safeguarding the dreams and aspirations of the people of Pakistan, So let's be part of a transformative voyage towards a secure and insured future. It's not just a claim- it's a promise -
Slide 3: About Us
About Us Reliance Insurance Company Limited (RICL) was incorporated in 1981 with a Share Capital of Rs.2.5 Million by two prominent industrialist groups in Pakistan, Al-Noor Group and Amin Bawany Group. Al-Noor Group, was led by (Late) Mr. Ismail H. Zakaria, and Amin Bawany Group, founded by (Late)
Slide 4: Our Vision and Mission
Our 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-holders, reinsurers, employees and all oth
Slide 5: Our Board
Our Board Irfan Zakaria Bawany Chairman Muhammad Omar Bawany Director Ahmed Ali Bawany Director Noor M. Zakaria Director Zia Zakaria Director Muhammad Patel Director Naeem Ahmed Shafi Director Tasneem Yusuf Director Jahangir Adam Director 5
Slide 6: Our Team
Our Team Management (Team RICL) The management of Reliance Insurance is fully conscious of the challenges lying ahead and has developed a comprehensive strategy which focuses on sustained growth in operations with a particular focus on the bottom line and offering reasonable returns to its valued sh
Slide 7: Company History
Company History 30-09-2024 Authorized Capital Rs.1 Reliance Insurance Company Limited billion (RICL) began its journey with an initial Paid up Capital Rs.665 million share capital of Rs. 2.5 million in 1981. Reserve Rs.400 million Assets Rs.2.54 billion Over the years, the company has shown 2023 con
Slide 8: Our Services
Our Services RICL offers a wide range of insurance products and services. The company underwrites various classes of insurance and provides risk coverage for a variety of needs. These offerings include: Traditional insurance products Non-Traditional insurance products Fire & Allied Perils, Marine Ca
Slide 9: Our Products
Our Products Fire Engineering Bond /Guarantee — are you covered? Aviation Liability Burglary cIT/ CIS Fg
Slide 10: Underwriting Capacity and Reinsurance
Underwriting Capacity RICL has demonstrated the capacity to meet the insured requirements across various classes of business. In addition to underwriting capacities covered by automatic treaty agreements, the company has back-to-back arrangements with foreign and domestic "A" rated insurance compani
Slide 11: IFS Rating
IFS Rating Reliance Insurance strong financial position and prudent management practices have been recognized by reputable rating agencies in Pakistan. Specifically, both VIS Credit Rating Company Ltd and Pakistan Credit Rating Agency Ltd have assigned the company a Financial Strength Rating (IFS) o
Slide 12: Our Network
Our Network KPK RICL Head Office is in 1 Branch Karachi, Pakistan, and boasts an extensive and Punjab dynamic branch network 17 Branches covering major cities and towns throughout the country. This widespread Sindh presence ensures that the 6 Branches company can provide prompt service to its custom
Slide 13: Economy Overview
Economy Overview • The IMF projects Pakistan's GDP growth at 3.2% for FY2025, up from 2.4% in FY2024, driven by a recovery in agriculture and momentum in the industrial sector. Key large-scale manufacturing areas, including textiles, food, automobiles, POL, and tobacco, show strong growth, alongside
Slide 14: Insurance Industry Overview
Insurance Industry Overview • In 2023, Pakistan’s non-life insurance industry achieved a Gross Written Premium (GWP) of Rs. 227 billion, marking a 28% growth compared to Rs. 178 billion in 2022. The Fire and Property Damage category led the market, contributing 31% of the total premium (Rs. 71 billi
Slide 15: Nine months financial position 2024 vs 2023
Nine months financial position 2024 vs 2023 Rupees in ‘000 30 Sep. 2024 30 Sep. 2023 Variance % Gross Insurance Premium / Takaful contribution 812,947 738,160 10.13 Net Insurance premium / Takaful contribution 422,566 335,041 26.12 Net Insurance claims / Takaful claims 134,875 110,059 22.54 Net Comm
Slide 16: Balance Sheet
Balance Sheet Rupees in ‘000 30-09-2024 31-12-2023 Investments 1,030,323 952,596 Cash & Bank 128,506 108,555 Other Assets – Current 1,281,663 1,164,206 Other Assets – Non-current 104,269 87,160 Total Assets 2,544,761 2,312,517 Ordinary Share Capital 665,379 665,379 Reserves 774,583 557,042 Share Hol
Slide 17: Graphical Presentation P & L
Graphical Presentation P & L Gross Profit RICL growth driven by Gross premium Investment Income 150 a combination of 70.51 factors such as 100 technological 726.44 812.94 67.6 advancements, 7 50 304.23 regulatory changes, market expansion, 857.9 1105.7 0 256.99 2021 2022 2023 2024 and a heightened 8
Slide 18: Graphical Presentation Balance Sheet
Graphical Presentation Balance Sheet Investment, Cash & Bank Balance, Assets, Shareholder Equity 3000 2545 2500 2313 2000 1889 1440 1500 1222 1030 1060 953 1000 794 500 129 109 102 0 Investment Cash & Bank Assets Shareholder Equity 30/09/2024 31/12/2023 31/12/2022 18
Slide 19: Forward-looking
Forward-looking With inflationary pressures showing signs of moderation, the discount rate has been significantly reduced from 22% to 13%, signaling a favorable shift in the macroeconomic landscape. While key economic indicators exhibit promising improvements, considerable challenges remain on the j
Slide 20: Thank You
THANK YOU 20