 The
capital structure of the company is designed to represent a
lean yet strong and realistic yoke. The financial size and ability
of the company selling services like insurance do not need a
huge “paidup capital" and/or “statutory reserves”. On the
contrary, it is the compulsive synchronization of the "Claim
Settlement Ability” with the "Risk Assumption Limit” that
has been addressed. This is our system and this is “Real Insurance".
The present authorized capital of this company is 500M of which
475.8M is currently paid-up. It is envisaged that the capitalbase
and reserves, will both, increase on a progressive and regular
basis. Capitalization therefore, is presently being addressed
in kind and real estate is being acquired / transferred to meet
that end. ‘Reinsurance’, ‘retailing’, ‘recruitment plans’ and
products have been so engineered that together they contribute
almost daily, to a regular growth of cash and gold reserves,
This is state-of-the-art financial structuring. The “Risk Assumption
Limit" is constantly enlarged with ‘every’ revenue receipt,
and in tandem the “Claim Settlement Ability” goes up. It is
assumed that within three years from 2004 this Company should
lnshallah! have a real asset-base / reserve in excess of 5B
Rupees! For the benefit of shareholders, the reserve development
notwithstanding, capitalization from income has been resolved
by the Board to remain at a humble 2% only.
BIRDS’ EYE VIEW
(YEAR 2003-2004)
| Authorized Capital |
Rs. |
500,000,000/- |
| Issued, subscribed and paid-up capital |
Rs. |
475,897,200/- |
| Total Assets |
Rs. |
419,860,208/- |
| Liabilities |
Rs. |
42,412,000/- |
| Excess of Assets over Liabilities |
Rs. |
377,448,208/- |
|
| Expected premium income year
2003-04: US$ 45 Million @ Rs.57.20 : $1 |
Rs. |
2,574,000,000/- |
|
* Current financials, please visit our web site: www.beemapakistan.com |
