Reliance Insurance Co Ltd · PSX:RICL
Reliance Insurance — Corporate Update (2023)
20 slides from Reliance Insurance's corporate update, 2023
Slide 1: Corporate Briefing Session 2023
Corporate Briefing Session 2023 RELIANCE INSURANCE COMPANY LIMITED
Slide 2: Reliance Insurance Company Limited
ce Reliance Insurance Company Limited Felionce 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 promis
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 Our Mission
Our Vision Our Mission To be recognized as a professional and To provide quality service and protection to its dependable business entity committed to play clients aiming at achieving a respectable a meaningful role in the development of volume of business and become a prominent insurance industry i
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 Capital Structure RICL initiated its operations with a Share Capital of Rs.2.5 million and has demonstrated steady growth over 2023 time. The company's Authorized Authorized Capital Rs.1 billion Capital has now reached Rs.1,000 Paid up Capital Rs.665 million million, with a paid-up s
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 Bond /Guarantee Terrorism Aviation Liability Burglary cIT/ CIS es Off HE ee o.
Slide 10: Underwriting Capacity 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 GDP during FY24 is anticipated to remain moderate at 2.1 percent. The primary driver of this moderate growth is the recovery in the agriculture sector. The manufacturing sector has also experienced a moderate recovery, with growth in large-scale manufacturing turning positive.
Slide 14: Insurance Industry Overview
Insurance Industry Overview • Insurance Industry having 42 insurers which comprising 28 non-life Insurers, 2 General Takaful Operators, 8 Life Insurers, 3 Family Takaful Operators and 1 Reinsurance. On Takaful Sector having 7 Family Window Takaful Operators, 3 dedicated Family Takaful Operators, 21
Slide 15: Nine months financial position 2023 vs 2022
Nine months financial position 2023 vs 2022 Rupees in ‘000 Sep. 2023 Sep. 2022 Variance % Gross Insurance Premium / Takaful contribution 738,160 567,311 30% Net Insurance premium / Takaful contribution 335,041 256,796 30% Net Insurance claims / Takaful claims 110,059 65,853 67% Net Commission / Re-t
Slide 16: Balance Sheet
Balance Sheet Rupees in ‘000 30-09-2023 31-12-2022 Investments 832,568 793,971 Cash & Bank 108,183 101,815 Other Assets – Current 1,101,422 920,339 Other Assets – Non-current 91,976 72,739 Total Assets 2,134,149 1,888,864 Ordinary Share Capital 665,379 633,695 Share Holder’s Equity 1,116,479 1,060,2
Slide 17: Graphical Presentation Nine months P & L
Graphical Presentation Nine months P & L Gross Premium Investment Income Profit before tax 140 120 100 80 RICL growth driven by 60 a combination of 40 20 factors such as 0 technological 2023 2022 2021 advancements, 2023 Rs.728 m 2023 Rs.123 m 2023 Rs.143 m regulatory changes, market expansion, and 2
Slide 18: Graphical Presentation Balance Sheet
Graphical Presentation Balance Sheet 30-09-2023, 31-12-2022, 31-12-2021 2500 2000 1500 1000 500 0 Investment Cash & Bank Assets Shareholder Equity 2023 2022 2021 18
Slide 19: Forward-looking
Forward-looking We, at Reliance Insurance are optimistic about future business prospects and strongly believe that we shall grow steadily and solidly in the years to come because of our positive businesslike approach and also the continued support of our valued clients, re-insurers and the sharehold
Slide 20: THANK YOU
THANK YOU 20