Pakistan Reinsurance Company Limited
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Notes to the Financial Statements for the Quarter ended March 31, 2003 (Unaudited) 1. The Company and its Operations Pakistan Reinsurance Co. Ltd. (the company) was incorporated on March 30, 2000 under the Companies Ordinance 1984. The object of the company is the development of insurance and reinsurance business in Pakistan and to carry on reinsurance business. 2. Significant Accounting Policies These financial statements have been prepared in accordance with the requirements of S.R.O 938 issued by the Securities and Exchange Commission of Pakistan, in December, 2002, the insurance Ordinance 2000, the requirements of Companies Ordinance, 1984 and approved accounting standards as applicable in Pakistan 3. Date of Authorization for Issue These financial statements have been authorized for issue on June 19, 2003 by the Board of Directors of the Company. 4. Corresponding Figures Corresponding figures have been restated wherever necessary for the purpose of comparison. 5. Contingencies There have been no change in the contingent liabilities since last annual balance sheet date 6. All figures have been rounded off to the nearest thousand of rupees
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