ISLAMABAD, Apr 07 (APP):Minister for Parliamentary Affairs Dr Tariq Fazal Chauhdry on Tuesday informed the Senate that Pakistan Reinsurance Company Limited collected gross premiums of Rs157 billion during 2017–2024, while insurance claims during the same period stood at Rs33 billion. Responding to a question during Question Hour, the Minister said that the figures reflected the company’s strong business performance, with claims remaining significantly lower than total premium collection. He said …
Pak Reinsurance Company collects Rs 157 bln gross premiums during 2017-2024: Senate told
ISLAMABAD, Apr 07 (APP):Minister for Parliamentary Affairs Dr Tariq Fazal Chauhdry on Tuesday informed the Senate that Pakistan Reinsurance Company Limited collected gross premiums of Rs157 billion during 2017–2024, while insurance claims during the same period stood at Rs33 billion.
Responding to a question during Question Hour, the Minister said that the figures reflected the company’s strong business performance, with claims remaining significantly lower than total premium collection.
He said insurance companies also obtain reinsurance cover for risk management, and such financial arrangements are reflected in the reported data.
Responding to another question, the minister said that a total of 875 civil cases and five criminal cases were currently pending in courts related to State Life Insurance Corporation of Pakistan.
He said legal consultants and advisors were hired in accordance with PPRA rules, as per the standard practice followed by government departments.
Tariq Fazal said prolonged delays in disposal of cases were largely due to systemic issues in the judicial process, with cases often taking 15 to 20 years to conclude.
He said the government had introduced reforms, including the establishment of constitutional courts, to streamline the judicial process and address delays in legal matters.
The minister said that departments engaged lawyers based on experience and expertise, with major cases assigned to senior counsel, while decisions regarding case allocation fell within the domain of the respective departments.
