Muslim Insurance Company Ltd.
Muslim Insurance Company Limited VISION MISSION
Muslim Insurance Company Limited CONTENTS
Muslim Insurance Company Limited COMPANY INFORMATION BOARD OF DIRECTORS GROUP EXECUTIVE COMMITTEE GROUP PERSONNEL COMMITTEE GROUP SYSTEMS & TECHNOLOGY COMMITTEE AUDIT COMMITTEE INVESTMENT COMMITTEE
Annual Report 2003 COMPANY INFORMATION UNDERWRITING COMMITTEE CLAIMS SETTLEMENT COMMITTEE RE-INSURANCE & CO-INSURANCE COMMITTEE MANAGEMENT COMMITTEE
Muslim Insurance Company Limited NOTICE OF ANNUAL GENERAL MEETING A. ORDINARY BUSINESS B. OTHER BUSINESS
Annual Report 2003 NOTES: A. FOR ATTENDING THE MEETING B. FOR APPOINTING PROXIES
Muslim Insurance Company Limited TEN YEARS AT A GLANCE (Rupees in million)
Annual Report 2003 PERFORMANCE AT A GLANCE
Muslim Insurance Company Limited STATEMENT OF VALUE ADDED AND ITS DISTRIBUTION WEALTH GENERATED WEALTH DISTRIBUTED To Employees To Shareholders To Government Retained in Business To Employees To Shareholders To Government Retained in Business
Annual Report 2003 CHAIRMAN S REVIEW THE INSURANCE INDUSTRY THE ECONOMY
Muslim Insurance Company Limited THE COMPANY RESULTS Growth of Pr ofit After Tax Growth of Pr emium Growth of Investment Income Total Assets
Annual Report 2003 Capital & Reserves RATING BY PACRA HUMAN RESOURCE MIC WEBSITE FUTURE OUTLOOK
Muslim Insurance Company Limited ACKNOWLEDGEMENT
Annual Report 2003 DIRECTORS' REPORT
Muslim Insurance Company Limited
Annual Report 2003
Muslim Insurance Company Limited
Annual Report 2003 STATEMENT OF COMPLIANCE WITH THE CODE OF CORPORATE GOVERNANCE
Muslim Insurance Company Limited Chief Executive Chairman Lahore: March 25, 2004
Annual Report 2003 STATEMENT OF COMPLIANCE WITH THE BEST PRACTICES ON TRANSFER PRICING
Muslim Insurance Company Limited REVIEW REPORT TO THE MEMBERS ON STATEMENT OF COMPLIANCE WITH BEST PRACTICES OF CODE OF CORPORATE GOVERNANCE Lahore: March 25, 2004 Chartered Accountants
Annual Report 2003 AUDITORS REPORT TO THE MEMBERS Lahore: March 25, 2004 Chartered Accountants
Muslim Insurance Company Limited BALANCE SHEET
Annual Report 2003 FINANCIAL YEAR ENDED DECEMBER 31, 2003 Chief Executive Director Director Chairman
Muslim Insurance Company Limited PROFIT AND LOSS ACCOUNT Chief Executive Director Director Chairman
Annual Report 2003 STATEMENT OF CASH FLOWS
Muslim Insurance Company Limited Reconciliation to Profit and Loss Account Chief Executive Director Director Chairman
Annual Report 2003 STATEMENT OF CHANGES IN EQUITY Chief Executive Director Director Chairman
Muslim Insurance Company Limited STATEMENT OF PREMIUMS Chief Executive Director Director Chairman
Annual Report 2003 STATEMENT OF CLAIMS Chief Executive Director Director Chairman
Muslim Insurance Company Limited STATEMENT OF EXPENSES Chief Executive Director Director Chairman
Annual Report 2003 STATEMENT OF INVESTMENT INCOME FINANCIAL YEAR ENDED DECEMBER 31, 2003 Chief Executive Director Director Chairman
Muslim Insurance Company Limited CLASSIFIED SUMMARY OF ASSETS IN PAKISTAN AS AT DECEMBER 31, 2003
Annual Report 2003 NOTES TO THE FINANCIAL STATEMENTS FINANCIAL YEAR ENDED DECEMBER 31, 2003 1. STATUS AND NATURE OF BUSINESS 2. BASIS OF PRESENTATION 3. STATEMENT OF COMPLIANCE 4. BASIS OF MEASUREMENT 5. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Muslim Insurance Company Limited
Annual Report 2003
Muslim Insurance Company Limited
Annual Report 2003
Muslim Insurance Company Limited
Annual Report 2003
Muslim Insurance Company Limited
Annual Report 2003 6. PAID-UP SHARE CAPITAL
Muslim Insurance Company Limited 7. RESERVES Notes 2003 2002 (Rupees in thousand) 8. PROVISION FOR OUTSTANDING CLAIMS (INCLUDING IBNR) / REINSURANCE RECOVERIES AGAINST OUTSTANDING CLAIMS 9. STAFF RETIREMENT BENEFITS 1 0. AMOUNT DUE TO / FROM OTHER INSURERS / REINSURERS AND PREMIUM DUE BUT UNPAID
Annual Report 2003 2003 2002 (Rupees in thousand) 1 1. OTHER CREDITORS 1 2. DIVIDEND 1 3. OBLIGATIONS AGAINST ASSETS SUBJECT TO FINANCE LEASE
Muslim Insurance Company Limited 1 4. CONTINGENCIES AND COMMITMENTS CLAIMS NOT ACKNOWLEDGED AS DEBT 1 5. CASH AND BANK DEPOSITS 2003 2002 (Rupees in thousand) 1 6. LOANS
Annual Report 2003 1 7. INVESTMENTS
Muslim Insurance Company Limited
Annual Report 2003 1 8. ACCRUED INVESTMENT INCOME 1 9. PREPAYMENTS 20. SUNDRY RECEIVABLES
Muslim Insurance Company Limited 21. OPERATING FIXED ASSETS - TANGIBLE............. R u p e e s i n t h o u s a n d.......................... R u p e e s i n t h o u s a n d.............
Annual Report 2003 Notes 2003 2002 (Rupees in thousand) 22. INTANGIBLE ASSET 23. EXPENSES OF MANAGEMENT 24. OTHER INCOME
Muslim Insurance Company Limited 25. GENERAL AND ADMINISTRATIVE EXPENSES Notes 2003 2002 (Rupees in thousand) 26. FINANCIAL CHARGES 27. PROVISION FOR TAXATION 2003 2002 (%) (%)
Annual Report 2003 28. BASIC EARNINGS PER SHARE
Muslim Insurance Company Limited 29. REMUNERATION OF CHIEF EXECUTIVE, DIRECTORS AND EXECUTIVES 30. NUMBER OF EMPLOYEES
Annual Report 2003 31. RELATED PARTY TRANSACTIONS
Muslim Insurance Company Limited 32. SEGMENT REPORTING
Annual Report 2003 33. FINANCIAL INSTRUMENTS AND RELATED DISCLOSURES.
Muslim Insurance Company Limited 34. RISK MANAGEMENT
Annual Report 2003 35. AUTHORISATION FOR ISSUE 36. COMPARATIVE FIGURES 37. GENERAL Chief Executive Director Director Chairman
Muslim Insurance Company Limited DISTRIBUTION OF SHAREHOLDING IN CENTRAL DEPOSITORY COMPANY OF PAKISTAN LIMITED PATTERN OF SHAREHOLDING CATEGORIES OF SHAREHOLDING
Annual Report 2003 PATTERN OF SHAREHOLDING AS AT DECEMBER 31, 2003 INFORMATION AS REQUIRED UNDER CODE OF CORPORATE GOVERNANCE
Muslim Insurance Company Limited COMPANY OFFICES HEAD OFFICE NORTH ZONE OFFICES & BRANCHES LAHORE
Annual Report 2003 RAWALPINDI FAISALABAD BRANCH - I FAISALABAD BRANCH - II SIALKOT SAHIWAL MULTAN BAHAWALPUR SOUTH ZONE OFFICE
Muslim Insurance Company Limited SOUTH ZONE BRANCHES KARACHI HYDERABAD SUKKUR
Annual Report 2003 Atlas Group Companies Shirazi Investments (Pvt) Ltd. 1962 Atlas Honda Ltd. 1963 Atlas Battery Ltd. 1966 Shirazi Trading Co. (Pvt) Ltd. 1973 Muslim Insurance Co. Ltd. 1980* Allwin Engineering Industries Ltd. 1981* Atlas Investment Bank Ltd. 1990 Honda Atlas Cars (Pakistan) Ltd. 1992 Honda Atlas Power Product (Pvt) Ltd. 1997 Total Atlas Lubricants Pakistan (Pvt) Ltd. 1997 2002
FORM OF PROXY I,... of... being a Shareholder of the Muslim Insurance Company Limited do hereby appoint...... of... also a Shareholder of the said Company, to be my proxy and to vote for me at the Annual General Meeting of the Company to be held on the April 26, 2004 at 11:00 a.m. for the year ended 31st December, 2003 and at any adjournment thereof in the same manner as I myself would vote if personally present at such meeting. As witness my hand in this day of...2004 Signature:... Address:... Affix Revenue Stamp Holder of Shares No...to... Witness : Name:... Address:...
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