Our mission is to continuously improve ourselves to become a leading, profitable Company, meeting the needs of our customers and enhancing the value of our shareholders’ investment. We will accomplish this by using the strengths of our people and the application of innovative science for the development of new insurance products and services that are high in quality and competitive in price
Family & Individual Health Insurance
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| Reliance Insurance Company Limited, was incorporated in Pakistan in the year 1981 with a share capital of Rs. 5.0 Million by two leading industrial houses of Pakistan, namely Al-Noor Group and Amin Bawany Group. Al-Noor Group is headed by renowned industrialist Mr. Ismail H. Zakaria, who is also the chairman of Reliance Insurance, while Amin Bawany Group is headed by Mr. Mohammad Amin Ahmed Bawany, who is also the Director of Reliance Insurance. Both the groups having successfully implemented a number of projects, are currently leading industrial groups of Pakistan. The Present Authorised Capital of the Company is Rs.500 Million while paid-up capital is Rs. 176.225 Million. 'Reliance Insurance' Completed 26 Years of quality service in November,2007 and is celebrating its Silver Jubilee and are extremely thankful to all those who have catalyzed our success story. Reliance is one of the leading General Insurance Company of Pakistan having a network of 28 branches at all important places throughout Pakistan employing a full time work force of 203 persons. It underwrites all classes of General Insurance and enjoys reputation second to none. Apart from the traditional covers such as Fire, Accident, Motor, Marine (Import and Exports), Loss of Profits, Personal Accident, Group Hospitalization, Workmen's Compensation, Burglary, Cash-in-Safe or in Transit etc., it also transacts non-traditional covers such as Machinery Breakdown and Loss of profits following Machinery Breakdown, Contractors All Risks, Erection All Risks, Bond and the like. Since its establishment, Reliance has progressed smoothly and steadily. Its Gross Premium income has increased from Rs. One Million in 1983 to Rs. 526.88 Million in 2006, while the Pre-Tax profit has increased from Rs. 0.14 Million in 1983 to Rs. 80.63 Million in 2006. At the end of 2006 General Reserve stood at Rs. 62.50 Million and Technical Reserves at Rs. 273.24 Million. Reliance has been assigned Insurer Financial Strength (IFS) rating of "A-" by both the recognized rating agencies of Pakistan. i-e JCR-VIS Rating Company Limited & Pakistan Credit Rating Agency Limited. Their Press Release Dated 29th June,2006 and 10th July,2006 respectively is available on their website i.e.www.jcrvis.com.pk and www.pacra.com for visitors. Following surveillance of rating based on 2006 financials, JCR-VIS Credit Rating Company Limited (JCE-VIS) vide its Press Release dated 10th September, 2007 upgraded a 'Positive' outlook to'Reliance' whilst maintaining rating at 'A-' ( Single A Minus ). Reliance Insurance Company has the following Vision & Mission goals and is continuously striving for excellence. VISION : To be recognized as a professional and dependable business entity committed to play a meaningful role in the development of insurance industry in Pakistan and to safeguard the legitimate interests of all stakeholders, namely,policy-holders,shareholders,reinsurers,employees and all other business associates/partners. MISSION : To provide quality service and protection to its Clients aiming at achieving a respectable volume of business and become a prominent player through good governance and sound professionalism focussing to become a well-known and respected Corporate entity in the eye of Society and Government. Board Of Directors :
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Contact: 2nd Floor, Nadir House, I. I. Chundrigar Road, Karachi. Tel: (021) 2415471-3
