Pakistan Reinsurance Company Limited allowed to conduct window re-takaful operations

ISLAMABAD: The Securities & Exchange Commission of Pakistan (SECP) in exercise of its powers under Takaful Rules, 2012 has authorized the Pakistan Reinsurance Company Limited (PRCL) to conduct window re-takaful operations on September 26, 2018. Since its formation in 2002, PRCL is playing its part in the economy as the country’s only reinsurance company, offering reinsurance to the general insurance sector of Pakistan. However, there was no entity in Pakistan which could provide re-takaful cover for the takaful and window takaful operators.