1. Assignment
Of
Principles of Insurance
Topic:
Insurance Companies in Pakistan
Submitted to:
Sir Umar Draz
Prepared by:
Name Abdul Mannan Gill
Roll No 16
Course BS Acc. & Finance 6th
Department of Commerce
BAHAUDDIN ZAKAZIYA UNIVERSITY
MULTAN

2. Insurance companies working in Pakistan1
1 ACE Insurance Ltd.
2 Adamjee Insurance Co. Ltd.
3 Agro Gen. Ins. Co. Ltd.
4 Alfalah Insurance Company Ltd.
5 Alpha Insurance Co. Ltd.
6 American Life Insurance Co.(Pak.) Ltd.
7 Asia Insurance Co. Ltd.
8 Askari Gen. Ins. Co. Ltd.
9 Atlas Insurance Limited,
10 Capital Insurance Co. Ltd.
11 Central Insurance Co. Ltd.
12 Century Insurance Co. Ltd.
13 Cooperative Ins. Society of Pak. Ltd.
14 Crescent Star Ins. Co. Ltd.
15 East West Insurance Co. Ltd.
16 East West Life Assurance Company Ltd.
17 EFU General Ins. Ltd.
18 EFU Life Assurance Limited
19 Excel Insurance Co. Ltd.
20 Habib Insurance. Co. Ltd.
1
www.iap.com.pk

3. 21 IGI Insurance Limited
22 New Hampshire Ins. Co.
23 New Jubilee Ins. Co. Ltd.
24 New Jubilee Life Insurance Company Ltd.
25 Pakistan Gen. Ins. Co. Ltd.
26 PICIC Insurance Limited
27 Premier Insurance Limited
28 Reliance Insurance Co. Ltd.
29 Saudi Pak Insurance Company Ltd
30 Security Gen. Insc. Co. Ltd.
31 Shaheen Ins. Co. Ltd.
32 Silver Star Ins. Co. Ltd.
33 Trakker Direct Insurance Limited
34 UBL Insurers Limited
35 United Ins. Co. of Pak. Ltd.
36 Universal Ins. Co. Ltd.
The State Life Insurance2
The Life Insurance Business in Pakistan was nationalized during March 1972. Initially
Life Insurance business of 32 Insurance Companies was merged and placed under three
Beema Units named “A”, “B” and “C” Beema Units. However, later these Beema Units
were merged and effective November 1, 1972 the Management of the Life Insurance
Business was consolidated and entrusted to the State Life Insurance Corporation of
Pakistan.
2
www.statelife.com.pk

4. State Life Insurance Corporation of Pakistan is headed by a Chairman and assisted by the
Executive Directors appointed by Federal Government. Up to July 2000 the Corporation
was run by Board of Directors constituted under Life Insurance (Nationalization) Order
1972. In July 2000, under Insurance Ordinance 2000, the Federal Government
reconstituted the Board of Directors of State Life which runs the affair of this
Corporation.
The basic structure of the Corporation consists of Four Regional Offices, Twenty-Six
Zonal Offices, a few Sub-Zonal Offices, 111 Sector Offices, and a network of 461 Area
Offices across the country for Individual Life Insurance; Four Zonal Offices and 6 Sector
Offices with 20 Sector Heads for Group & Pension are involved in the Marketing of Life
Insurance Plans policies and products offered by State Life and a Principal Office. The
Zonal Offices deal exclusively with Sales and Marketing. Underwriting of Life Insurance
Policies and the Policyholder’s Services. Regional Offices, each headed by a Regional
Chief, supervise business activities of the Zones functioning under them. The Principal
Office, based at Karachi, is responsible for corporate activities such as investment, real
estate, actuarial, overseas operations, etc.
Major Achievements
The major function of the State Life Insurance Corporation of Pakistan is to carry out
Life Insurance Business; however, it is also involved in the other related business
activities such as investment of policyholders’ fund in Government securities, Stock
market, Real Estate etc. The major achievements of State Life are as under:
i. On the commencement of the operations, the Corporation took a very important
step by effecting reduction up to 33% in the premiums on the past and potential
Life Policies for the benefit of the Policyholders.
ii. State Life is profitable organization and it paid Rs.1.729 billion as dividend to the
Government of Pakistan since its inception in 1972.
iii. State Life has played very vital role in the economy by providing employment to
the people of the country as permanent employees and as part of its marketing
force and by investing the huge funds in different sectors of the economy. The
Investment Portfolio of State Life as at 31.12.2005 stands at Rs.124.983 billions.
iv. Investment portfolio also includes investment in Real Estate which stands at a
book value of Rs.2.309 billion as at 31.12.2005 whereas it fair value is around
Rs.17.625 billion in the same period.
v. The Paid up Capital increased from Rs.10 million in 1972 to Rs.900 million.
vi. The Premium income increased from Rs.0.317 billion in 1972 to 13.820 billion in
2005. Similarly Investment income including rental income increased from
Rs.0.81 billion in 1972 to 13.106 billion in 2005.
vii. vii. Total statutory fund of State Life stands at Rs.122.775 billion in 2005 as
against Rs.1.494 billion in 1972.
viii. State Life is smoothly striving towards its objective of making life insurance
available to large section of the society by extending it to common man. As at

5. December, 2005 the total number of policies inforce under individual life were
2.044 million and number of lives covered under group life insurance were 3.731
million.
The ACE Group of Companies3
is one of the world's leading global commercial property and casualty insurance and
reinsurance organizations. ACE has operations in more than 50 countries and conducts
business with clients from over 140 countries.
ACE serves the property and casualty insurance needs of businesses of all sizes in a
broad range of industries. We also provide specialized insurance products—such as
personal accident, supplemental health and life insurance—to individuals in select
countries. Our reinsurance operations include both property and casualty and life
companies.
We take on the responsibility of risk so that our clients can take on the responsibility of
making things happen. We call this insuring progress.
With a product offering as diverse as our customer base, we pride ourselves on our ability
to meet our clients’ needs. We create and stand by our insurance, reinsurance and
financial solutions for businesses and consumers around the world.
Products and Services
Property & Casualty
One of the world’s truly global providers of commercial property and casualty insurance
and reinsurance, ACE puts an international network of underwriting, claims and risk
control professionals to work to help businesses of all kinds reduce risk and mitigate loss.
Whether your business involves pipelines in Alaska, marine cargo in Hong Kong or
wineries in France, ACE can tailor insurance coverage to meet your needs.
In addition, ACE offers reliable advice on a variety of protection and hazard topics,
including process management, unusual hazards identification and expected loss
calculations, and tailored engineering services, all backed by a strong capital base that
allows us to cover major exposures.
Accident & Health
ACE works closely with organizations in more than 40 countries—including employers,
affinity groups, financial institutions, utilities and vacation travel providers—to deliver
innovative insurance products to their employees, members and customers.
3
www.acelimited.com

6. Through core products such as personal accident insurance, supplemental health
insurance, travel insurance, and creditor insurance, our accident and health team provides
added peace of mind to policyholders and helps strengthen the relationship between client
organizations and their constituents.
Our A&H products are offered by a network of local nationals who specialize in A&H
marketing and underwriting, and who are thoroughly familiar with insurance
requirements and customs in their respective markets.
Life
ACE sells its life products through a variety of distribution channels including agents,
independent brokers, banks and telemarketing centers. A team of dedicated professionals
underwrites risks, provides high-quality customer service and develops new products to
meet the changing needs of customers in these dynamic markets.
In Asia, Latin America, Europe and the Middle East, ACE helps individuals and families
plan for the unexpected through a range of personal life insurance products, including
whole and term life. Other products such as endowment and unit-linked policies are used
to provide funds for retirement or help pay for children’s education.
Reinsurance
A leader in the reinsurance industry, ACE offers coverage for an impressive array of
business lines, including accident and health, casualty and liability, marine, surety,
property and more.
Adamjee Insurance Company Limited4
Adamjee Insurance Company Limited (AICL) was incorporated as a public limited
company on September 28, 1960 and is listed on Karachi and Lahore stock exchanges of
the country. The company is also registered with the Central Depository Company of
Pakistan Limited (CDC). AICL is involved in General Insurance business.
The company started with a paid up capital of Rs. 2.5 million which has grown
phenomenally to the current paid up capital of Rs. 1.022 billion which is the highest
amongst all the general insurance companies. AICL enjoys a competitive edge in the
insurance industry due its strong asset base, paid up capital, huge reserves, balanced
portfolio mix, steady growth in gross premium and continuous increase in share price at
the stock market.
Diversified portfolio of business
AICL broadly is involved in underwriting the following classes of businesses:
• Fire and Property
4
www.adamjeeinsurance.com

7. • Marine, Aviation and Hull
• Motor
• Miscellaneous business
Underlying these businesses a large variety of coverage is offered to the clients to fulfill
their needs. AICL believes in customer satisfaction by providing quality in service and
products and maximum benefits to its client. This is the reason why the company has a
diversified portfolio of clients belonging to all categories. Most of the banks are insured
by the company. AICL insures petrochemical and complex industrial risks of very high
value. The company has a major market share of engineering business in Pakistan. It
provides Insurance protection to most of the private sector telecommunication industries.
The company insures most of the textile mills, sugar mills and cement factories of the
country. AICL pioneered the coverage of energy risks in Pakistan. Foreign concerns
entering Pakistan to execute construction, erection or infrastructure development projects
are insured by AICL. The company is the principal insurer in Pakistan for Kidnap &
Ransom, Professional Indemnity, Product Liability and other specialized lines.
IGI Insurance Limited5
IGI Insurance Limited (formerly known as International General Insurance Company of
Pakistan Limited) was incorporated in 1953, with Syed Maratib Ali as the first Chairman.
IGI, a part of the Packages Group, was listed on the Karachi and Lahore Stock Exchanges
in December 1987.
IGI underwrites all types of property and casualty insurance: fire, marine, motor, travel,
health, home and miscellaneous. Since 1953, IGI is providing comprehensive risk
management facilities to a number of distinguished local and multinational business
concerns through a network of branches in Pakistan.
Our covenant with the customers has always been to provide the best risk management
services in Pakistan. Thus we have achieved through a total commitment to customer
satisfaction, a highly professional attitude towards underwriting risk and prudent
management practices. By developing a long-term relationship with our clients, in the last
four decades, we have strived to create value for our customers and shareholders alike
Over the last 50-years IGI has established a sound business footing in the non-life
insurance sector in Pakistan on the bases of well-governed operations founded on the
highest ethical and moral practices. Today IGI is one of the leading quoted insurance
companies of Pakistan with an asset base of over 4 billion rupees and offices in Karachi,
Lahore, Islamabad, Sialkot, Multan, Gujranwala and Faisalabad, serving a large number
of prestigious local and multinational clients throughout Pakistan.
The Company has been awarded “AA” (Double A) Insurer Financial Strength (IFS)
Rating with a Positive Outlook by Pakistan Credit Rating Agency (Private) Limited
(PACRA), which denotes a very strong capacity to meet policyholders' and contract
5
http://www.igiinsurance.com.pk

8. obligations. Amongst Pakistan's insurance companies, IGI has one of the HIGHEST
Solvency Margins.
IGI Insurance Limited has re-insurance agreements with the most prestigious and world-
renowned re-insurers such as Swiss Re and Sumitomo Re. The Company is referenced
for its good standing and reputation by domestic as well as international reinsurers.
During the year 2001 (in July 2001) the Company achieved another milestone by
obtaining ISO 9002 certification from SGS Malaysia Sdn. Bhd. IGI Insurance was the
FIRST general insurance Company in Pakistan, which had achieved this certification for
its entire operations.
In 2003, the Company reaffirmed its commitment to quality by successfully shifting to
the new ISO 9001:2000 standard and certified by the certification body – SGS Malaysia.
In line with the Company’s growth strategy, it has acquired the Pakistan operations of
Royal and Sun Alliance Plc. U.K. As a result of this transfer, IGI has positioned itself
amongst the top five insurance companies operating in Pakistan. IGI Insurance Limited is
now a global network partner of Royal and Sun Alliance Plc U.K
EFU general insurance ltd6
• The Company was incorporated as a Public Limited Company on September 2,
1932 and is engaged in general insurance business comprising of fire, marine,
motor and engineering etc.
• The shares of the company are quoted on Karachi and Lahore Stock Exchanges of
Pakistan.
• The Principal place of business is located at EFU House, M.A. Jinnah Road,
Karachi, Pakistan with over 60 branches throughout the country.
• EFU is one of the few Pakistani organizations run totally by professional
management and highly motivated field force.
• Policies accepted by all financial institutions in the country.
• Insurer Financial Strength Rating: AA Stable Outlook (Rating Agency: JCR-VIS).
• Client-base comprises of many leading business houses and multinational
companies.
• Another unique feature of EFU is a voluntary review mechanism by professionals
of international repute. The independent reviews by these professionals enable the
company to keep abreast of international changes in the industry as well as ensure
that management adopts the best international practices.
• Another pillar of EFU's strength is its very close and long-term (over 50 years)
relationship with its main reinsurer, ‘Munich Re’, one of the largest reinsurance
companies in the world.
6
http://www.efuinsurance.com

9. • EFU gave the emerging insurance industry the leadership, the manpower and the
drive needed to grow in a situation where at one time, three-fourths of insurance
was held by foreign companies.
The Pakistan Life and General Insurance Company.
7
Two months after the Independence of Pakistan, in October 1947 a group of well
renowned and highly motivated Muslim League party members established The Pakistan
Life and General Insurance Company. The organization was the first insurance com pany to
be incorporated in Pakistan.
In 1972, the Government of Pakistan nationalized various financial sectors including Life
Insurance; thus the life sector was separated from The Pakistan Life and General
Insurance Company. The conglomerate’s name was thus changed to The Pakistan
General Insurance Company Ltd
In 1988, the majority shares of The Pakistan General Insurance Co. Ltd were bought by
Mr. Ch. Zahoor Ahmad. Mr. Ahmad, with an experience of over 39 years in the sector,
has been a pioneer in the development of the Pakistani insurance industry. He currently
holds the designation of the chief executive officer. The Insurance ‘Guru’ has also
worked in the senior management of various insurance companies and the insurance
association of Pakistan
In 1992, the Government of Pakistan reopened the life insurance business to the private
sector organizations and EFU Life Assurance Ltd was incorporated in November 1992 as
the first private sector life insurance company. In early 1993, EFU Life commenced
writing group life insurance business and by March 1994, the company began writing its
individual life business.
EFU Life is managed by a team of professionals with extensive life insurance experience
in the United Kingdom. This has helped the Company establish a professional culture
unique amongst life insurance business in Pakistan.
The Company has a growing branch network of over 100 branches through out the
country with employee strength of over 2,200 personnel in its sales force and around 150
personnel at its main offices in Karachi and Lahore. The company employs 4 full time
actuaries and also has an active involvement of one of the leading actuarial firms in the
country.
EFU Life is the first life insurance company in Pakistan to be awarded the ISO
9001:2000 certification, and also the only life insurance company to have an "Insurer
Financial Strength" rating which is currently AA-, Outlook:Stable, by JCR-VIS, an
affiliate of Japan Credit Rating agency.
7
http://www.pgi.com.pk/

10. Today, EFU Life continues to be the largest private sector life insurance company in
Pakistan. In 2007, EFU Life’s premium income was Rs. 4.8 billion. The Company enjoys
a market share of over 64% of the private sector life premium income (excluding single
premium).
EFU Life has a comprehensive range of products which has been developed after
extensive research of financial services in western countries such as the United Kingdom.
These products are designed to meet the varying needs of EFU Life’s clients and offer the
best in financial services.
EFU Life is the pioneer in introducing the following products and features in Pakistan
Unit-linked products
Critical illness products
Education planning product
Inflation protection benefit
Pension Plans
Islamic Fund Products
EFU Life’s product range is the most competitive in the market in terms of value for
money. The Company continuously reviews its product range to ensure that it remains at
the leading edge.
Habib Insurance8
Habib Insurance was established in 1942 in Bombay, India with a paid-up share capital of
Rs.2.5 million. After independence, Habib Insurance Company moved to Pakistan and
then become a more prominent name in the insurance industry. In 1972, the group had to
face a major debacle; the Government of Pakistan nationalized the life insurance business
of Habib Insurance. Later in 1974, the renowned Habib Bank was also nationalized.
Even with this major setback, the group had stayed focused in general insurance business.
Today by the Grace of Almighty Allah, Habib Insurance is among the top 10 general
insurance companies in Pakistan.
Habib Insurance is known as one of the best-managed companies in Pakistan. Due to its
prudent underwriting policy, Habib Insurance has always ostensibly rendered profile with
a consistent increase in bottom-line. A measure of the company’s performance can be
8
http://www.habibinsurance.net/

11. gauged from the fact that it has paid back to its shareholders cash dividends and bonus
shares in excess of two hundred times their original investment.
Habib Insurance also has reinsurance arrangements with leading reinsurance companies
of the world including Hanover Re - Germany, Mitsui Sumitomo - Ireland, Toa Re -
Japan, Korean Re - South Korea, Labuan Re - Malaysia etc.
The Karachi Stock Exchange in 1981 instituted an award for the top 25 companies listed.
Habib Insurance has been eulogized for its outstanding performance and has won this
award eleven times, for nine consecutive years from 1981-1989, then in 1993 and in
1997.
Products
As always, The Company is geared to play a dynamic role in the rapidly changing
industrial and financial environment in Pakistan. In addition to the Fire, Marine, Motor,
Engineering, Medical and Miscellaneous Insurance Products, The Company Is Actively
Exploring Possibilities of new products and markets.
Fire Insurance
Fire Insurance covers the risk of insurance interest against the perils of fire damage and
additional perils such as:
• Riot & Strike
• Malicious Damage
• Atmospheric Disturbance: Loss or Damage by Natural Cause such as Hail, Snow, Rain,
Flood
• Explosion: Loss or Damage
• Impact Damage
• Aircraft Damage: Loss or Damage caused by Aircraft and other Ariel devices.
• Earthquake Fire and Shock
• Burglary
Marine Insurances
Marine Insurance covers the risk of the insured, against the peril of loss during the transit
of goods by:
• Sea / Air
• Truck / Trailer / Rail
Motor & Misc. Insurance
Risks covered under this head are as follows:
• Comprehensive Motor Insurance
• Machinery Breakdown Insurance
• Personal Accident
• Public Liability
• Banker’s Blanket
• Medical Insurance

12. New Jubilee Insurance Co. Ltd. 9
Established in 1953, NJI is one of the brightest and most reputable names in
the insurance sector. Sustained growth over half a century has secured NJI a place
among the “Big Three” Pakistani insurance in terms of gross direct premium and
financial base. NJI is listed on the Karachi & Lahore Stock Exchanges. Major
shareholders include Aga Khan Fund for Economics Development and Hashoo Group.
NJI, with its Head Office in Karachi, has an extensive and dynamic branch network in all
major cities and towns of Pakistan that guarantees prompt service at the customer’s
doorstep.
The company prides itself in its long-standing reinsurance arrangements and relationship
with international renowned reinsurers such as Swiss Re, Munich Re, Lloyds, Hannover
Re and Mitsui Smitomo Re. The company is also supported by internationally acclaimed
reinsurance brokers including AON Group, Willis, Marsh and UIB.
In 2003, NJI became the first Pakistani insurance company to acquire a foreign company
when it took over the Pakistan operations of Commercial General Union. Together with
AKFED, NJI also acquired majority control of CU Life Assurance Company of Pakistan
Ltd.
At NJI, diversity is maintained through underwriting all classes of general insurance
including fire, marine, motor, engineering, health and general accidents. NJI not only
offers wide risk coverage, but also provides related risk management services delivered
by highly qualified and experienced risk managers. NJI has developed unique and
innovative insurance solutions to meet the growing consumer financing trends of
economy. From auto financing to personal loans, mortgages to plastic cards, and trade
finance to capital investment finance, NJI has the customized solutions to secure entire
operations. Product range and transactions of all financial institutions.
As pioneers in Group Health Insurance, NJI continues to develop new, flexible and
customized plans to suit the diverse need of our many blue chip Pakistani companies and
multinational clients.
With a broad spectrum of services available, NJI’s client-base comprises prominent
national and multinational corporations operating in Pharmaceutical, Chemical, Textile,
Cement, Services (Hospital & Hotels), Oil & Energy, Manufacturing, FMCG,
Engineering, Banking and Financial sectors.
NJI’s business philosophy can be summed up as Customer Protection, Customer
Satisfaction and Customer Trust. This is acquired largely by ability to handle claims
effectively. The customer focus and pro-active management approach in all areas of
business, allow NJI to underwrite and handle claims in an expeditious and efficient
manner.
9
http://www.nji.com.pk/

13. The true test of soundness of insurance converge is the duration of client relationships.
This is proven by the fact that many clients have been with us for over 40 years. Clients
are satisfied knowing that NJI is their best security
The Pakistan Life and General Insurance Company
10
Two months after the Independence of Pakistan, in October 1947 a group of well
renowned and highly motivated Muslim League party members established The Pakistan
Life and General Insurance Company. The organization was the first insurance company
to be incorporated in Pakistan.
In 1972, the Government of Pakistan nationalized various financial sectors including Life
Insurance; thus the life sector was separated from The Pakistan Life and General
Insurance Company. The conglomerate’s name was thus changed to The Pakistan
General Insurance Company Ltd.
In 1988, the majority shares of The Pakistan General Insurance Co. Ltd were bought by
Mr. Ch. Zahoor Ahmad. Mr. Ahmad, with an experience of over 39 years in the sector,
has been a pioneer in the development of the Pakistani insurance industry. He currently
holds the designation of the chief executive officer. The Insurance ‘Guru’ has also
worked in the senior management of various insurance companies and the insurance
association of Pakistan
The organization, under the leadership of Mr. Ahmad, has gone through various phases of
development which includes setting up of a nation wide branch network, business
development with world class reinsurers, electronic branch linkage, and introduction of
sophisticated IT insurance software and so on.
In 1995 the shares of The Pakistan General Insurance Co. Ltd were formally floated on
stock exchange. Currently the organization is enlisted on all the Stock Exchanges of
Pakistan and providing cover to the great nation of Pakistan in all general classes of
insurance.
SILVER STAR INSURANCE COMPANY LIMITED 11
A public limited Company, listed in Karachi, Lahore and Islamabad Stock Exchanges,
was incorporated on May 3rd, 1984 under the repealed Companies Act, 1913 and the
business commencement certificate was issued on September 2, 1984. It is classified as a
domestic general insurance company under Insurance Ordinance 2000.Silver Star
Insurance Company Limited (SSICL) has based on countrywide branch network
containing twenty-five branches in the major cities of Pakistan up till 30th June 2005.
10
http://www.pgi.com.pk/
11
http://www.silverstarinsurance.com/

14. The Company is engaged in providing General Insurance Services, the major lines of
business are:
1. Fire
2. Marine
3. Motor
4. Miscellaneous
5. crop
6. live stock insurance
The present Chairman Chaudhry Muhammad Sadiq is the pioneer of the Company. He
made the fortification of the Company deep along with the tremendous team efforts of the
directors and employees of the Company. Chaudhry Muhammad Sadiq is the beacon in
the field of general insurance. He is ex-reinsurance advisor to United Nations, former
Deputy Managing Director to Pakistan Insurance Corporation and National Co-insurance
Scheme, former General Manager to National Reinsurance Company, Sudan, Islamic
Insurance Company, Sudan and Islamic Insurance and Reinsurance Company, Saudi
Arabia; and former Consultant to Islamic Development Bank, Saudi Arabia and the
insurance sector of Dallah Al-Barka Group, Saudi Arabia. He is still making his valuable
contributions along with the Chief Executive & Managing Director Mr. Zahir
Muhammad Sadiq and other Directors and employees for the prosperity of the
Organization. Inshallah we will be the benchmark in the general insurance sector in near
future.
SAUDI PAK INSURANCE Co. Ltd.12
Duly authorized by SECP the Company has started its operations from 14th April, 2005
and since then it has managed to emerge as one of the successful companies of the
insurance industry. Fortunately to its credit, it has a strong financial backing of the well
known and highly reputed “Saudi Pak Group” which is based in Islamabad and is a joint
venture of 50%-50% partnership between Saudi Arabia and Pakistan.
Capital Insurance Company Limited 13
is a Public Limited Company registered with the Insurance Division of Securities and
Exchange Commission of Pakistan to carry business of Non-life insurance. Incorporation
of Company was with an intention to provide adequate and first class insurance coverage
to all associated risks of the sponsoring business community.
Company is owned by the leading Manufacturers, Exporters and Businessmen of Sialkot
City, which is known for the export of billions of rupees. There is hardly any reasonable
name of the business community, who is not a Director or shareholder of this company.
12
http://www.saudipakinsurance.com.pk/
13
http://www.capital-insurance.net/

15. And Shareholders of our Company are also trustees of Sialkot Dry Port Trust.They have
recently undertaken huge project of Sialkot Airport sanctioned by the Government of
Pakistan and which will be completed with their own sources. Capital Insurance
Company Limited started its operations in July 1998.The present paid up Capital of the
company is Rs. 92.44 million which is going to be enhanced to Rs.120 million shortly.
The management of the company is in the hands of qualified, competent, dedicated and
experienced professionals well known in the insurance and business circles of Pakistan.
Presently the company is transacting in all segments of insurance like Fire and Allied
Perils, Motors, Import Export, Home Insurance, Engineering and Machinery
Breakdown etc. we have plans to launch our new products covering health and travel
soon.
On top of it all Capital Insurance Company Limited is the only organization registered
from Sialkot sponsored by the Business Community and the Trustees of Sialkot Dry Port
Trust. It may be noted that the Sponsors of Capital Insurance Company Limited
contribute around 60% Export of Sialkot Region.
To secure its assets and risk, the Reinsurance coverage has been arranged by the First
Class Reinsurance Brokers of the world