181-A, Sindhi Muslim Co-operative Housing Society, Karachi – Pakistan
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Company Profile
42
Years of
Experience
The Company
We provide the best Takaful PMD
Reliance Contribution was incorporated as a Public Limited Company in 1981 and is listed on Pakistan Stock Exchange. The Company is also registered with Central Depository Company of Pakistan Ltd. (CDC) and is involved in general Contribution business.
Reliance Contribution proven as one of the most reputable and brightest names in the Contribution sector since it started operations in 1981 and its sustained growth has secured a place among the leading insurers of Pakistan.
Reputation and Reach
RICL is highly esteemed within the insurance sector, recognized for its outstanding reputation and distinguished service. Headquartered in Karachi, Pakistan, the company operates through an extensive and dynamic network of branches across major cities and towns, enabling it to deliver prompt and efficient service nationwide.
Takaful Offerings
Reliance Insurance (WTO) provides comprehensive coverage across all categories of General Insurance and Takaful, which includes traditional covers such as Fire, Marine (Import & Export), Motor Vehicles, Personal & Group Accident, Workmen's Compensation, Burglary, and Cash-in-Safe or in Transit. Additionally, RICL excels in non-traditional insurance solutions, including Machinery Breakdown, Terrorism & Sabotage, Contractors All Risks, Erection All Risks, Bonds, Product Liability, Directors’ & Officers’ Liability, and Aviation.
Reliance Insurance Company Limited (WTO) continues to thrive, leveraging its extensive expertise and exceptional service to maintain its standing as a reputed and trustworthy insurer.
The Sponsors
Reliance Insurance has the unique distinction of being jointly owned by two prestigious industrial groups of Pakistan. Its major sponsors are Al-Noor Group and Amin Bawany Group a brief about them is as follows.
Al-Noor Group – The Founder
Al-Noor Group founded by renowned industrialist Mr. Ismail H. Zakaria who was also the Chairman of Reliance Insurance. Al-Noor Group comprises of the following companies besides holding in Reliance Insurance Company Ltd.
Bawany Group – An Eminent Business Group
Mr. Amin Ahmed Bawany a renowned well honored industrialist was the founder member of Bawany Group comprising of the following companies and known as one of the financially most-sound corporate industrial entity in Pakistan.
Financial Performance
RICL has demonstrated robust financial health and consistent profitability. The company's authorized capital stands at Rs. 1,000 million, with paid-up capital Rs. 665.379 million. The General Reserve has reached Rs. 400 million, and shareholders' equity amounts to Rs.1,391.408 million. Since its inception, Reliance Insurance has shown steady progress, with Gross Premium Income increasing from Rs. 1 million in 1983 to Rs. 1,105.780 million (inclusive of Takaful Contribution) by the end of 2023. Technical Reserves have grown to Rs. 709.610 million.
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Branches Network
Reliance Contribution has a nationwide branch network with 24 operating stations spread in all major cities of Pakistan. To accelerate growth and meet the challenges of increasing competition, the infrastructure of the Company is being continuously developed and strengthened. New branches are being established to expand our presence in the country and to better serve the customers.
ReContribution (Treaty & Facultative)
RICL benefits from an excellent Treaty Reinsurance arrangement led by Swiss Re, a globally renowned reinsurer. The company has received high marks from leading credit rating agencies; VIS Credit Rating Company Ltd and Pakistan Credit Rating Agency Ltd both have assigned a Financial Strength Rating (IFSR) of “A+” (Single A+), with a stable outlook.
| Registration No. | K-165/6702 of 1981 |
| CUIN No. | 0008966 |
| ISSUED BY | SECP |
| GST No. | 17-50-9800-004-55 |
| NATURE OF BUSINESS: | General Contribution and Window Takaful |
| REGISTERED OFFICE: | 96-A, Sindhi Muslim Co-operative Housing Society, Karachi |
| HEAD OFFICE: | 181-A, Sindhi Muslim Co-operative Housing Society, Karachi |
| Phone No. | +92-21-34539415-17 |
| Fax: | +92-21-34539412 |
| Email : | reli-ins@relianceins.com |
| Associated Companies | ANAM FABRICS (PVT) LTD. F-528/B, S.I.T.E. P.O.Box: 3612, Karachi, Pakistan Phone: 9221-32565701 / 32575844 Fax: 9221-32564580 |
| Branches Network : | North Zone South Zone |
