CONTENTS. Company Information Director s Report Review Report Condensed Interim Balance Sheet...06

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2 CONTENTS Page No. Company Information...0 Director s Report...03 Review Report...04 Condensed Interim Balance Sheet...06 Condensed Interim Profit & Loss Account...08 Condensed Interim Statement of Comprehensive Income...09 Condensed Interim Statement of Changes In Equity...0 Condensed Interim Statement of Cash Flow... Condensed Interim Statement of Premiums... Condensed Interim Statement of Claims...3 Condensed Interim Statement of Expenses...4 Condensed Interim Statement of Investment Income...5 Notes To Condensed Interim Financial Statement...6 Categories of Shareholding...9 Pattern of Shareholding...0

3 COMPANY INFORMATION BOARD OF DIRECTORS ISMAIL H. ZAKARIA Chairman DIRECTORS CHIEF EXECUTIVE & MANAGING DIRECTOR CHIEF ACCOUNTANT AND COMPANY SECRETARY MOHAMMAD AMIN AHMED BAWANY A. AZIZ AYOOB IRFAN ZAKARIA BAWANY MOHAMMAD OMER BAWANY ZOHAIR ZAKARIA AHMED ALI BAWANY NOOR M. ZAKARIA YASIN SIDDIK ABDUL JABBAR A. RAZAK AHMED HAROON A. SHAKOOR MANAGEMENT SYED RIZWAN AKHTAR (EVP/Operations) AUDIT COMMITTEE ABDUL JABBAR Chairman IRFAN ZAKARIA BAWANY Member ZOHAIR ZAKARIA Member INVESTMENT COMMITTEE IRFAN ZAKARIA BAWANY Chairman ZOHAIR ZAKARIA Member AHMED ALI BAWANY Member A. RAZAK AHMED Member AUDITORS CREDIT RATING BANKERS REGISTERED OFFICE HEAD OFFICE SHARES REGISTRAR BDO Ebrahim & Co. Chartered Accountants A (Single A) BY JCRVIS Outlook Stable HABIB BANK LIMITED NATIONAL BANK OF PAKISTAN MCB BANK LIMITED ALLIED BANK LIMITED UNITED BANK LIMITED NIB BANK LIMITED BANK ALFLAH LIMITED FAYSAL BANK LIMITED HABIB METROPOLITAN BANK LIMITED THE BANK OF PUNJAB JS BANK LIMITED 96A, Sindhi Muslim Cooperative Housing Society, Karachi. Reliance Insurance House, 8A, Sindhi Muslim Cooperative Housing Society, P.O. Box No. 3356, Karachi Phone: Fax: reliins@cyber.net.pk ricre@cyber.net.pk Website: relianceins.com M/s. C & K Management Associates (Pvt.) Ltd. 404Trade Tower, Abdullah Haroon Road, Near Hotel Metropole, Karachi75530 Tel : (0) &

4 DIRECTOR S REPORT The Shareholders, Reliance Insurance Company Limited, Your Directors are pleased to present before you the Half Yearly (Unaudited) Accounts for the period ended June 30, 04. During the period under review, your Company underwrote a Gross Premium of Rs million as compared to Rs million of the corresponding period of last year an increase of 40.4%. The Net Premium Income stood at Rs million as against Rs.9.0 million of last year showing an increase of 5.38%. Net claims incurred, however, increased from Rs million to Rs million compared to corresponding period of last year, showing an increase of 9.56%. Investment income for the six months period was Rs million compared to Rs million of the corresponding period of last year, showing an increase of 8.43%. Profit before tax for the period ended June 30, 04 was Rs.4.44 million against Rs million of corresponding period of last year. Earnings per share stood at Rs.0.98 compared to Rs.0.69 for the corresponding period of last year. Presently, the economic indicators of the country are not very promising. Unsatisfactory law and order situation, power shortages and load shading for longer durations has severely affected the commercial and industrial activities. Inspite of the adverse scenario your management was able to achieve above results. Your Management will continue to strive hard to improve upon its performance with the hope that the Government would tackle energy crisis on priority basis, enforce policies to boost economic activities to meet challenges ahead and concentrate on improving Law and Order situation in the Country. By order of the Board (A.RAZAK AHMED) Chief Executive & Managing Director Karachi: 8th August, 04 3

5 REVIEW REPORT REVIEW REPORT TO THE MEMBERS Introduction We have reviewed the accompanying: condensed interim balance sheet; condensed interim profit and loss account; condensed interim statement of comprehensive income; condensed interim statement of changes in equity; condensed interim statement of cash flows; condensed interim statement of premiums; condensed interim statement of claims; condensed interim statement of expenses; and condensed interim statement of investment income together with the explanatory notes of RELIANCE INSURANCE COMPANY LIMITED ( the Company ) as at and for the six months period ended June 30, 04 (hereinafter referred to as the condensed interim financial information ). Management is responsible for the preparation and presentation of this interim financial information in accordance with approved accounting standards as applicable in Pakistan for interim financial reporting. Our responsibility is to express a conclusion on this interim financial information based on our review. Scope of review We conducted our review in accordance with the International Standards on Review Engagements 40, Review of Interim financial information performed by the Independent Auditor of the Entity. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with the International Standard on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion. Conclusion Based on our review, nothing has come to our attention that causes us to believe that the accompanying interim financial information as at and for the six months period ended June 30, 04 is not prepared, in all material respects, in accordance with approved accounting standards as applicable in Pakistan for interim financial reporting. Other matters The figures for the quarters ended June 30, 04 and June 30, 03 in the accompanying interim financial information have not been reviewed and we do not express a conclusion on them. Karachi: 8th August, 04 CHARTERED ACCOUNTANTS Engagement partner: Zulfikar Ali Causer 4

6 Financial Statements 5

7 CONDENSED INTERIM BALANCE SHEET (UN AUDITED) AS AT JUNE 30, 04 Reliance Insurance Company Limited (Un Audited) (Audited) As At June. 30, As At Dec.3, Notes SHARE CAPITAL AND RESERVES Authorised share capital (50,000,000 Ordinary Shares of Rs.0/ each) Issued, subscribed and paidup capital 9 Retained earnings General Reserves UNDERWRITING PROVISIONS Provision for outstanding claims (including IBNR) Provision for unearned premium Commission income unearned Total Underwriting Provisions CREDITORS AND ACCRUALS Amounts due to other insurers/reinsurers Accrued expenses Taxationprovision less payments Other creditors and accurals OTHER LIABILITIES Unclaimed dividend CONTINGENCIES AND COMMITMENTS 0 Rs 500,000, ,458,750 9,035,306 80,000, ,494,056 66,67,667 44,8,7 3,700, ,49,94 53,859,76,893,374 73,403 47,333,34 03,59,67 549, Rs 500,000, ,780,680 6,637,58 60,000, ,48,08 30,065,6 47,95,83 3,635, ,65,583 60,69,449,994,434 60,73,04,986, ,395 TOTAL EQUITY AND LIABILITIES The annexed notes from to 5 form an integral part of these financial statements.,57,45,738,456,580,73 Director/Chairman Director Karachi: 8th August, 04 6

8 CONDENSED INTERIM BALANCE SHEET (UN AUDITED) AS AT JUNE 30, 04 Reliance Insurance Company Limited FORM GA (Un Audited) (Audited) As At June. 30, As At Dec.3, Notes CASH AND BANK DEPOSITS Cash and other equivalent Current and other accounts Deposit maturing within months LOANS To employees INVESTMENTS CURRENT ASSETSOTHERS Premiums due but unpaid Amounts due from other insurers/reinsurers Accrued investment income Reinsurance recoveries against outstanding claims Deferred commission expense Prepaid reinsurance premium ceded Taxationprovision less payments Trade deposits and prepayments Sundry receivables Rs,054,76 8,40,043 5,75,837 08,046,64,675,60 53,57,93 87,4,56 35,49,890 4,08,933,346,7 55,338,746 3,408,673,07,069,894,57 Rs 303,46 77,034,390 5,74,393 03,078,99,56, ,3,3 88,969,504 37,97,300 6,964,797 98,90,087 53,499,436 93,90,87 6,93 848,069 40,8 FIXED ASSETS Tangible Land and buildings Furniture, fixtures and office equipment Motor vehicles TOTAL ASSETS 80,90,335 0,808,43 6,678,39 56,795,7 74,8,859,57,45, ,380,954,377,77 7,,63 5,78,0 7,8,9,456,580,73 Director Chief Executive & Managing Director 7

9 CONDENSED INTERIM PROFIT & LOSS ACCOUNT (UN AUDITED) FOR THE QUARTER AND HALF YEAR ENDED JUNE 30, 04 Reliance Insurance Company Limited FORM GB (Amount in Rs.) QUARTER ENDED JUNE 30 Fire Marine & Aviation & Property Transport Motor Misc. Aggregate Aggregate Revenue account Net premium revenue 4,683,630 7,995,879 9,33,83 4,580,89 66,584,3 63,97,756 Net claims (5,709,93) (7,596,008) (4,369,09) (,30,97) (8,905,64) (5,85,895) Expenses (6,08,30) (7,68,3) (,86,6) (,839,744) (7,05,789) (6,63,54) Net commission (,5,7) (,436,86) (3,406,768) (453,8) (7,548,633) (9,00,566) Underwriting result 640,44,694,887 (34,658),056,894 3,077,537 3,5,77 Investment income / (loss on investments),463,6 5,85,38 Other income,37, ,78 General and administration expenses (,07,45) (9,089,037) Profit / (loss) before tax 5,606,63 0,36,844 Provision for taxation Current (,50,000) (950,000) Profit / (loss) after tax 4,456,63 9,86,844 SIX MONTHS ENDED JUNE 30 Fire Marine & Aviation & Property Transport Motor Misc. Aggregate Aggregate Revenue Account Net premium revenue 4,6,34 3,570,5 54,935,499 7,95,084 35,96,447 9,0,96 Net claims (0,076,69) (,95,9) (9,37,463) (,348,76) (5,957,7) (48,338,689) Expenses (6,76,905) (,879,738) (,73,779) (,884,779) (53,765,0) (5,667,95) Net commission (7,65,885) (4,60,065) (6,089,45) (555,38) (8,070,783) (9,347,730) Underwriting result 7,64,383 3,35,500 (,5,94),506,647,69,336 8,668,47 Investment income 50,694,76 39,47,967 Other income,80,44 978,4 General and administration expenses (,59,658) (8,438,704) Profit before tax 4,44,88 30,679,93 Provision for taxation Current (3,000,000) (,900,000) Profit after tax 39,44,88 7,779,93 Profit and loss appropriation account Balance at commencement of the period 6,637,58 69,773,078 Profit after tax for the period 39,44,88 7,779,93 Cash dividend for the year 03 5%: (0: Nil) (8,339,034) Transfers to reserves (General Reserves) (0,000,000) (70,000,000) Bonus shares issued for the year 03: 0% (0: 5%) (36,678,070) (47,840,960) Balance accumulated at the end of the period 9,035,306 79,7,049 Earnings per share basic and diluted The annexed notes from to 5 form an integral part of these interim condensed financial statements. Director/Chairman Director Director Chief Executive & Managing Director Karachi: 8th August, 04 8

10 CONDENSED INTERIM STATEMENT OF COMPREHENSIVE INCOME (UN AUDITED) FOR THE HALF YEAR ENDED JUNE 30, 04 (Amount in Rs.) Quarter ended June 30 Six Months ended June Profit after tax 4,456,63 9,86,844 39,44,88 7,779,93 Other comprehensive income Total comprehensive income for the period 4,456,63 9,86,844 39,44,88 7,779,93 The annexed notes from to 5 form an integral part of these financial statements. Director/Chairman Director Director Chief Executive & Managing Director Karachi: 8th August, 04 9

11 CONDENSED INTERIM STATEMENT OF CHANGES IN EQUITY (UN AUDITED) FOR THE HALF YEAR ENDED JUNE 30, 04 (Amount in Rs.) Unappro Share General priated Capital Reserve Profit To tal Balance as at January 0, 03 38,939,70 90,000,000 69,773, ,7,798 Total comprehensive income for the period 7,779,93 7,779,93 Transfer to general reserves 70,000,000 (70,000,000) Transactions with owners: Issuance of bonus shares 47,840,960 (47,840,960) Balance as at June 30, ,780,680 60,000,000 79,7, ,49,79 Balance as at January 0, ,780,680 60,000,000 6,637,58 653,48,08 Total comprehensive income for the period 39,44,88 39,44,88 Transfer to general reserves 0,000,000 (0,000,000) Transactions with owners: Issuance of bonus shares 36,678,070 (36,678,070) Cash dividend (8,339,034) (8,339,034) Balance as at June 30, ,458,750 80,000,000 9,035, ,494,056 The annexed notes from to 5 form an integral part of these financial statements. Director/Chairman Director Director Chief Executive & Managing Director Karachi: 8th August, 04 0

12 CONDENSED INTERIM STATEMENT OF CASH FLOWS (UN AUDITED) FORM GC FOR THE HALF YEAR ENDED JUNE 30, 04 (Amount in Rs.) Operating cash flow JUNE 30, JUNE 30, a) Underwriting activities Premium received Reinsurance premium paid 453,376,06 (38,09,450) 36,996, (98,95,699) Claims paid (,780,58) (35,78,770) Reinsurance and other recoveries received Commission paid 7,769,35 (47,009,369) 304,83,095 (46,0,447) Commission received 30,699,55 5,896,475 Net cash generated from underwriting activities 77,96,43 59,38,776 b) Other operating activities Income tax paid (,600,404) (3,0,560) General management expenses paid Other operating payments (53,765,0) (5,80,533) (5,667,95) (3,38,399) Loans advanced / repayment received (58,77) (50,55) Other payments on operating assets Other receipts in respect of operating assets (3,490,850) (,83,876) (0,97,84) (646,784) Net cash used in other operating activities (88,650,635) (80,54,874) Net cash flow from all operating activities (0,688,) (,404,098) Investment activities Interest / dividend received 4,770,3 6,949,50 Payments for investments (94,759,667) (45,055,59) Proceeds from disposal of investments Fixed capital expenditures 0,63,090 (0,504,93) 45,863, (7,38,405) Proceeds from disposal of fixed assets Net cash flow from investing activities 3,857,500 33,995,4,055,000,49,67 Financing activities Dividend paid (8,339,308) Net cash flows used in financing activities (8,339,308) Net increase / (decrease) in cash and cash equivalent Cash and cash equivalent at the beginning of the period 4,967,7 03,078,99,05,59 68,760,439 Cash and cash equivalent at the end of the period 08,046,64 69,785,958 Reconciliation to Profit and Loss account Operating cash flow (0,688,) (,404,098) Depreciation / amortization expense Profit on disposal of fixed assets (5,457,5),80,44 (5,00,305) 978,4 (Increase) / decrease in assets other than cash Increase / (decrease) in liabilities other than running finance 4,85,06 (39,795,99) (33,56,960) 47,90,906 Investment income 50,694,76 39,47,967 Profit after taxation 39,44,88 7,779,93 Definition of cash Cash in hand and at banks, stamps in hand and short term placements with banks Cash for the purposes of the statement of cash flows consists of: Cash and equivalents,054,76 67,338 Current and other accounts Deposits maturing within months 8,40,043 5,75,837 43,8,589 5,357,03 08,046,64 69,785,958 The annexed notes from to 5 form an integral part of these financial statements. Director/Chairman Director Director Chief Executive & Managing Director Karachi: 8th August, 04

13 Reliance Insurance Company Limited

14 3 Reliance Insurance Company Limited

15 4 Reliance Insurance Company Limited

16 CONDENSED INTERIM STATEMENT OF INVESTMENT INCOME (UNAUDITED) FOR THE HALF YEAR ENDED JUNE 30, 04 FORM GG (Amount in Rs.) Income from nontrading investments Held to maturity Return on government securities,690,39 89,050 4,450,086 3,980,73 Return on other fixed income, securities and deposits,68,878,33,763,090,35,596,50 Available for sale 3,37,07,5,83 6,540,40 5,577,33 Dividend income 43,536 Gain on sale of available for sale investments 4,599,36 4,599,36 Impairment reversal 384,53 648,034 63, ,4 Income from trading investments Held for trading Quarter ended June Rs. 03 Rs. Six months ended June Rs. 03 Rs. 4,983, ,034 5,30,67,086,650 Dividend income 5,3,449 5,460,365 5,378,5 0,585,690 Gain / (loss) on sale of investments 56,90,896,085,4,03 3,05,484 Unrealized gain / (loss) on held for trading investments 8,839,60 4,80,07,435,69 9,0,384 4,09,97 3,58,657 38,954,838 3,90,558 Less: Investment related expenses (,69) (8,) (3,48) (93,474) Net investment income transferred to profit and loss account,463,6 5,85,38 50,694,76 39,47,967 The annexed notes from to 5 form an integral part of these financial statements. Director/Chairman Director Director Chief Executive & Managing Director Karachi: 8th August, 04 5

17 . STATUS AND NATURE OF BUSINESS Reliance Insurance Company Limited NOTES TO THE CONDENSED INTERIM FINANCIAL STATEMENTS (UN AUDITED) FOR THE HALF YEAR ENDED JUNE 30, 04 Reliance Insurance Company Limited (the Company) was incorporated in Pakistan as a public limited company on November 4, 98 and is engaged in general insurance business. The shares of the Company are quoted on Stock Exchanges of Karachi and Lahore. The registered office of the Company is situated at 96A, Sindhi Muslim Cooperative Housing Society, Karachi.. BASIS OF PRESENTATION. These condensed interim financial statements are presented in condensed form in accordance with the requirements of International Accounting Standard 34 "Interim Financial Reporting". The disclosures made in these condensed interim financial statements have been limited based on the formats prescribed by the Insurance Rules, 00 and approved accounting standards as applicable in Pakistan for interim financial reporting. These condensed financial statements do not include all of the information required for full financial statements and should be read in conjunction with the financial statements of the Company for the year ended December 3, 03.. These condensed interim financial statements have been presented in Pak Rupees, which is the functional and presentation currency of the Company. 3. BASIS OF MEASUREMENT These condensed interim financial statements have been prepared under the historical cost convention except for certain financial assets and liabilities which are stated at fair value or amortized cost as applicable. These condensed interim financial statements have been prepared under the accrual basis of accounting except for cash flow information. 4 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The significant accounting policies adopted in the preparation of these condensed interim financial statements are in line with the audited annual accounts for the year ended December 3, FINANCIAL RISK MANAGEMENT The Company s financial risk management objectives and policies are consistent with those disclosed in the annual financial statements for the year ended December 3, TAXATION The provision for taxation for the half year and quarter ended June 30, 04 has been made using the estimated effective tax rate applicable to expected total annual earnings. 7. TRANSACTIONS WITH RELATED PARTIES Related parties comprise of associated companies, entities under common control, entities with common directors, major shareholders and key management personnel of the Company. Transactions with related parties are carried out at arm's length prices determined under "Comparable uncontrolled price method". Transactions with related parties are as follows: 6

18 June 30 June Rs. Rs. Premium underwritten 9,533,373 8,94,890 Premium collected 9,434,775 30,458,0 Claims paid 4,585,6 4,957,869 Dividend received 5,870 Dividend paid 80,64 Premium due but unpaid 34,799,9 30,809,05 Provision for outstanding claims 64,66,777 7,465,35 Key management personnel 8,93,847 7,854,096 Staff retirement benefits,08, , OPERATING FIXED ASSETS AND DEPRECIATION These are stated at cost less accumulated depreciation. Depreciation is charged to profit and loss account using the reducing balance method. Depreciation on assets is charged from the month of addition while no depreciation is charged in the year in which assets are disposed off. Maintenance and repaires are charged to profit and loss account as and when incurred. Major renewals and improvements are capaitalized and the assets so replaced, if any are retired. 9. SHARE CAPITAL Issued, subscribed and paid up capital. June 30 December 3 June 30 December (Number of Shares) Rs. Rs.,56,680,56,680 Ordinary shares of Rs.0,566,800,566,800 39,89,95 35,5,388 each issued as fully paid in cash Ordinary shares of Rs.0 39,89, ,3,880 40,345,875 36,678,068 each issued as fully paid bonus shares 403,458, ,780, CONTINGENCIES AND COMMITMENTS 0.. There are no contingencies and commitments as at the Balance Sheet date.. INVESTMENTS The investments comprise of the following: June 30 December Rs. Rs. Held to maturity. 85,577,67 07,350,34 Available for sale 84,906,57 69,307,469 Provision for impairment (,085,49) (,76,964). 8,8,4 73,940,89 Held for trading 344,858,479 36,38,493 53,57,93 500,3,3. Pakistan Investment Bonds (PIB) amounting to Rs.9.36 million (December 3, 03: 9.36 million) and GOP Ijara Sukuk for the face value of Rs million are placed as statutory deposits with State Bank of Pakistan in accordance with the requirement of Section 9()(a) of Insurance Ordinance, Market value of investments as at June 30, 04 was Rs million (December 3, 03: Rs million).. SEGMENT REPORTING Class of business wise revenue and results have been disclosed in the profit and loss account prepared in accordance with the requirements of Insurance Ordinance, 000 and the SEC (Insurance) Rules, 00. The following table presents information regarding segment assets, liablities as at June 30, 04,and June,03 unallocated capital expenditure and noncash expenses during the year: 7

19 Fire & property Marine Motor Misc Total in Rupees SEGEMENT ASSETS Segment assets ,793,059 7,598, ,903,485 39,069,759 03,93,45 6,5,90 7,079,734 59,44, ,699,79 63,44,35 Unallocated corporate assets,0,75,009 78,369,030 Consolidated corporate assets SEGEMENT LIABILITIES Segment liabilities Unallocated corporate liabilities Consolidated corporate liabilities,57,45,738,43,63,38 55,03,06 0,8,967 0,803,48 77,409, ,374, ,49,006 45,99,548 75,807,83 84,408,56 806,548,30 549, 57,53 84,957,68 807,0,653 CAPITAL EXPENDITURE Unallocated capital expenditure Consolidated capital expenditure Unallocated depreciation/amortization 0,504,93 7,38,405 0,504,93 7,38,405 5,457,5 5,00,305 LOCATION Sindh Punjab KPK Net Premium ,449,345 45,44,545 7,557 79,049,777 49,850,75,00 Assets 04 03,009,488,48 507,64,68 798, ,099,37 546,77,36,336,783 Liabilities ,779,65 8,734, , ,50,445 3,846, ,54 Capital Expenditures ,988,49 3,50,966 5,59 4,53,086,85,338 6,98 35,96,447 9,0,96,57,45,738,43,63,38 84,957,68 807,0,653 0,504,93 7,38, EARNINGS PER SHARE BASIC AND DILUTED Profit after tax for the period Weighted average number of ordinary shares Earnings per sharerupees Six months ended June 30 Quarter ended June ,44,88 40,345, ,779,93 40,345, ,456,63 40,345, ,86,844 40,345, No figures for diluted earnings per share has been presented as the Company has not issued any instrument which would have an impact on earnings per share when exercised. 4 DATE OF AUTHORIZATION FOR ISSUE This condensed financial information has been authorized for issue on 8th August,04 by the Board of Directors of the Company. 5 GENERAL Figures have been rounded off to the nearest rupee Director/Chairman Director Director Chief Executive & Managing Director Karachi: 8th August, 04 8

20 CATEGORIES OF SHARE HOLDING as at June 30, 04 S/R NO. CATEGORIES OF SHARE HOLDERS NUMBER OF SHARE HOLDERS TOTAL SHARES HELD PERCENTAGE % Individuals 53 0,696, Directors, CEO & Other Spouses and Minor Children Associated Companies,Undertaking & Related Parties Investment Companies (IDBPICP Units) Insurance Companies 6,85,95 76, Joint Stock Companies Financial Institutions Stock Exchange Welfare Society 3 7,64, ,479 48, Charitable Trusts Modaraba Management Companies Wakf Alal Aulad Trade 0, , ,345, Shareholding more then 5% M/s. Irfan Ashfaq & Co. (Pvt.) Limited 5,733,8 4.% Mr. Irfan Zakaria Bawany,5,099 6.% Mrs. Shehla Irfan,49, % 9

21 0 PATTERN OF SHARE HOLDING AS AT JUNE 30, Number of Shareholders SHARE HOLDINGS FROM TO TOTAL SHARES HELD ,697 44,09 9,48 664, ,34 570,05 380,33 39,047 48,956 96,633 86,77 5,460 84,979 07,708 3,94 6,007 36,908 78,7 409,0 347,04 85,993 99,68 6,7,445 35,84 73,88 58,474 6,55 334,887 58,65 58,5 84,48 9,68 03,400 07,46 6,093 4, ,880 73,44,3,5 339,86 376,553 38, , ,937 46, ,49 498,8 543,03,55,836 65,997 64,470 77, ,540 85,97 938,70 948,750,77,939,8,09,93,080,507,50,554,8,578,97,735,965,48,7 5,733,8 40,345,875

22 OFFICES Head Office Reliance Insurance House PABX : A, Sindhi Muslim Cooperative Fax : Housing Society, reliins@cyber.net.pk. Karachi. ricre@cyber.net.pk. Web : Mr. A. Razak Ahmed Direct : , Chief Executive & Managing Director Extension : 04 Mr. Haroon A. Shakoor Direct : Chief Accountant & Extension : 03 Company Secretary Mr. Rizwan Akhtar Direct : Executive Vice President (Operations) Extension : 0 Mr. M. Amin Bawany Direct : Vice President (Marine & Accident) Extension : 0 Mr. Muhammad Ishaque Azim Direct : Vice President (Fire) Extension : Mr. Sadruddin Hussain Direct : Vice President (Claims) Extension : 08 Mr. Ghulam Mujaddid Extension : 05 Chief Manager (Accounts) Mr. Abdul Rahim Patni Direct : Deputy Chief Manager (Reinsurance) Extension : 5 Mr. Muhammad Salim Memon Extension : 4 Deputy Chief Manager (Investment/shares) Mr. Muhammad Masood Ali Extension : 0 Deputy Chief Manager (I.T. Deptt.) Mr. Muhammad Masood Alam Direct : Manager (Administration) Extension : 06 Mr. Mahmood Shuja Baig Extension : 09 Internal Auditor South Zone Offices & Branches Business Plaza Branch 407, 4th floor, Business Plaza, Mr. Muhammad Iqbal Dhedhi Ph : (0) 34958, Off. I.I.Chundrigar Road, Karachi. Executive Vice President Fax : (0) 3434, 3437 Tariq Road Branch Room No. A & A3, Mr. Zafar A. Pasha Ph : (0) , st Floor, Rahat Jo Daro, Executive Vice President , Plot No.7/L, Block, PECHS, Fax : (0) Main Tariq Road, Karachi. Namco Centre Branch A, 5th Floor, Campbell Street, Mr. Iqbal Umer Bawany Ph : (0) 36576, Karachi. Vice President Fax : (0) Land Mark Plaza Branch 405, 4th Floor, Land Mark Plaza, Mr. Muhammad Reza Rajani Ph : (0) , Off. I. I. Chundrigar Road, Assistant Vice President Fax : (0) Karachi. M. A. Jinnah Road Branch 0, Japan Plaza, Mr. Rizwan Ahmed Khan Ph : (0) , M. A. Jinnah Road, Karachi. Branch Manager Fax : (0) 3760 Hyderabad Branch st Floor, AlFalah Chamber, Mr. Abdullah Ahmed Ph : (0) Tilak Road, Hyderabad. Regional Manager Fax : (0) 6309 Sukkur Branch Mr. Anees Memon Ph : (07) 5669 Minara Road, Sukkur. Resident Representative Cell :

23 North Zone Offices & Branches Zonal Office, Lahore (North Zone) 4th Floor, Gardee Trust Building. No., Mr. Hassan Sabih PABX : (04) , Napier Road, Lahore. Chief Manager : , Direct : (04) Fax : (04) Regional Office, Lahore 90A/3, st Floor, Canal Park, Mr. Fahad Barlas Ph : (04) , GulbergII, Lahore. Vice President : , Fax : (04) Gulberg Branch House No.7A, BlockE/, Mr. Tehseen Ahmed Khan Ph : (04) , GulbergIII, Lahore. Executive Vice President , Fax : (04) AlRehman Branch nd Floor, AlRehman Building, Mr. Nisar Ahmed Chughtai Ph : (04) 37333, Regal Cinema Lane, 65, The Mall, Senior Vice President : Lahore. Fax : (04) Eden Centre Branch 3, Eden Centre, Mr. Ch. H.S. Asghar Ph : (04) , Ghausal Azam Road, (Jail Road) Vice President Fax : (04) Lahore. Garden Town Branch Suit No.7, st Floor, Shan Arcade, Mr. Basit Anwar Butt Ph : (04) , New Garden Town, Lahore. Executive Vice President Fax : (04) Empress Tower Branch Room 8, st Floor, Empress Tower 46 Mr. Syed Azhar Ali Shah Ph : (04) Empress Road, Lahore. Senior Vice President Fax : (04) , Khan Plaza Branch 4th Floor, Khan Plaza, Mr. Sohailuddin Zafar Ph : (055) 454, 464 G. T. Road, Gujranwala. Assistant Vice President Fax : (055) Gujrat Branch Marhaba Tower (Top Floor) Opp. Mr. Muhammad Nawaz Ph : (053) 357 Ram Piary Mahal Near Fawara Chawk,. Gujrat. Faisal Complex Branch 3rd Floor, Faisal Complex, Mr. A. Majeed Abid Ph : (04) 6938, 6939 Bilal Road, Civil Lines, Faisalabad. Senior Vice President Fax : (04) 6033 Taj Plaza Branch Room No.6, nd Floor, Taj Plaza, Mr. Muhammad Akhlaq Ph : (04) 6777, 68 Kotwali Road, Faisalabad. Vice President 659 Fax : (04) 400 Rawalpindi Branch 3,3rd Floor, United Plaza, Mr. Abdul Karim Siddiqi Ph : (05) Shamsabad, Murree Rd. Rawalpindi. Vice President Fax : (05) Peshawar Branch T3 & 4, Bilour Shopping Plaza, Ph : (09) 57467, rd Floor, Saddar Road, Fax : (09) Peshawar Cantt. Regional Office Multan st Floor, 5Commercial Plaza, Mr. Syed Mohsin Bukhari Ph : (06) Opp. Civil Hospital, Abdali Road, Assistant Manager Fax : (06) Multan.

24 Senior Vice President

25