PAKRE - Pakistan Reinsurance Company Limited

   PRCL is a public sector company under the administrative control of the Ministry of Commerce. The Company is headed by a Chairman with a nine member Board of Directors. Seven members of this Board are nominated by the Federal Government while others are elected from the business community enjoying excellent business credentials.In addition, the management is supported by a strong team of professionals who handle the business affairs of the company.

Role of PRCL in economic development

    The role of PRCL in economic development of Pakistan is significant. In the process of economic development the local industry both in public and private sectors has successfully been provided the required insurance protection with the reinsurance support of PRCL. PRCL is aware of the increasing requirement of insurance and reinsurance of a progressive economy and is thus making great efforts in coming up to national expectations. The progress so far made signifies consolidation of our position, both at home and abroad and encourages further expansion.

      The compulsory and voluntary cessions to PRCL provide very attractive and competitive terms to the local insurance companies. Cession under 15% Quota Share has no maximum limit and thus provides comparatively higher rate of commission for the portfolio which would otherwise be reinsured on facultative basis with a lower commission.

 

INTERNATIONAL COOPERATION/ BUSINESS RELATIONS

PRCL is actively collaborating and participating with its international counterparts in the field of insurance and reinsurance. This is being achieved  under the aegis of Economic Cooperation Organization (ECO) with the object of reducing the outflow of Foreign Exchange and improving the standard of insurance and reinsurance services in the region. PRCL has been one of the pioneers and founder members of the Federation Afro-Asian Insurers and Reinsurers (FAIR).