February 07, 2008	Thursday	Muharram 28, 1429

KARACHI, Jan 6: Pakistan Reinsurance Company (PRCL) said it stood out as the “first reinsurance company” to begin payment against claims to ceding companies, i.e. EFU, Saudi Pak and Reliance Insurance Company Limited.

A press release issued by the company on Wednesday stated that the claim payments were in respect of losses that occurred in the aftermath of Dec 27 events. A senior official at the company added that the balance sheet is strong and the company is in a “completely safe territory”, as almost 80 per cent of the claims were re-insured with world’s largest re-insurers, such as Swiss Re.