IAP Book 2014 15

Insurance Year Book
2014-15
INSURANCE YEAR BOOK 2014-2015

Published By
The Insurance Association of Pakistan
1713-1715, 17th Floor

Saima Trade Tower-A
I.I. Chundrigar Road
P.O. Box No. 4932
Karachi 74000
Tel: (92-21) 32277165-68
Fax: (92-91) 32277170
Email: info@iap.net.pk
Website: www.iap.net.pk
Vision Statement
To be a forum of active exchange
on matters relating to insurance. To
promote, support and protect
common interest of member
companies carrying on the business
of insurance in Pakistan and to
endeavor to increase insurance
awarness and penetration in
the country.
C O N T E N T S
1.
2.
Chairman's Message
05
Message from Chairman,The Insurance Association of Pakistan, Mr. Mahmood Lotia
06
3.
Size of Insurance Market of Pakistan for 2014 - Including Public Sector.
07
4.
Executive, Technical & Regional Committees Activities
09
Executive Committee
Regional Committee North
Accident Committee
Life Committee
Marine Committee
Property Committee
10
12
13
14
15
16
5.
Market Overview of Non Life Insurance Industry in Pakistan
18
6.
Market Overview of Life Insurance Industry in Pakistan
20
7.
Company Profiles
25
Non Life & ReInsurance Companies

1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
11.
12.
13.
14.
15.
16.
17.
18.
ACE Insurance Limited.

Adamjee Insurance Company Limited
Allianz EFU Health Insurance Ltd
Alfalah Insurance Company Limited
Alpha Insurance Company Limited
Asia Insurance Company Limited
Askari General Insurance Company Limited
Atlas Insurance Limited
Century Insurance Company Limited
Cooperative Insurance Society of Pakistan Limited
Crescent Star Insurance Company Limited
East West Insurance Company Limited
EFU General Insurance Limited
Excel Insurance Company Limited
Habib Insurance Company Limited
IGI Insurance Limited
Jubilee General Insurance Company Limited
New Hampshire Insurance Company
26
28
30
32
34
36
40
42
44
46
48
52
54
56
58
60
62
66
03
19.
20.
21.
22.
23.
24.
25.
26.
27.
28.
29.
30.
The Pakistan General Insurance Company Limited

PICIC Insurance Limited
Premier Insurance Limited
Reliance Insurance Company Limited
SPI Insurance Company Limited
Security General Insurance Company Limited
Shaheen Insurance Company Limited
Sindh Insurance Limited
Takaful Pakistan Limited
TPL Direct Insurance Limited
UBL Insurers Limited
United Insurance Company of Pakistan Limited
68
70
72
74
78
80
82
84
88
90
92
94
Life Insurance Companies

1.
2.
3.
4.
5.
Adamjee Life Assurance Company Limited

East West Life Assurance Company Limited
EFU Life Assurance Limited.
IGI Life Insurance Limited
Jubilee Life Insurance Company Limited
98
102
106
110
114
8.
Members' Directory
119
9.
Pictorial Presentation of IAP events
127
Annual General Meeting (AGM)

Annual Dinner
Insurance Day
Cricket Tournament
Meeting with SECP officials
Meeting with PRCL representatives
Meeting with World Bank representatives
128
129
131
132
133
134
135
Notes
136
10.
04
MESSAGE
Mahmood Lotia
CHAIRMAN
THE INSURANCE ASSOCIATION OF PAKISTAN
associated with cargo movement through Wahgah Border

Terminal
It gives me immense pleasure presenting IAP's Year Book 201415 which contains key financial figures, analysis of Pakistan
insurance industry and Association's activities during this period.
n
The year 2014 registered premium growth on the non-life

insurance side by 12.18% to Rs. 53.96 billion compared to Rs.
48.10 billion in 2013. The growth in the life insurance business
was 14.44% to Rs. 122.01 billion compared to Rs. 106.61 billion
in 2013.
Given hereunder are some important developments that took
place during the year.
n
n
Celebrated 3rd Insurance Day in Pakistan on 6th May 2015

IAP Managed to run Insurance Awareness Campaign on FM
Radio Channels.
Proposals for Federal and Provincial budgets 2015-16 on
various tax related and other important matters were submitted
to concerned authorities. Various other proposals were also
made with respect to following:
Training of Insurance Agents.
Facultative reinsurance arrangements
Related Party Assets
Valuation of Assets for the purpose of Solvency
Small Disputes Resolution Committees
Construction of IAP House commenced.
IAP license renewed for further 5 years upto 6th May 2019
by the Directorate Trade Organization, Ministry of Commerce
Islamabad.
The SECP considering IAP's proposal has recommended
amendments in Motor Vehicle Act, 1939 to introduce No
Fault Model Scheme.
IAP website for Online Claims Management System has
been upgraded.
Warranties/guidelines have been developed to mitigate risks
06
Fire Policy and Malicious Damage Endorsement have been

slightly amended
In the end, I would like to take this opportunity to acknowledge

the support and assistance of IAP Members, the Executive
Committee Technical and other Committees of IAP. Finally
would like to appreciate efforts of the Secretary General, Officers
all concerned with the publication of this important document.
Size of Insurance Market of Pakistan for 2014

(Including public sector)
Conventional Business
Life Insurance
Number of companies
Gross Premium Written
Premium to GDP ratio
07
Rs. 122 billion
0.52%
Non Life Insurance

Number of companies
Gross Premium Written
38
Rs. 62 billion
0.26%
Takaful Business
Family Takaful Operators
Number of companies
Gross written Contribution
Contribution to GDP ratio
02
Rs. 6 billion
0.03%
General Takaful Operators

Number of companies
Gross written Contribution
Contribution to GDP ratio
03
Rs. 2 billion
0.01%
Total Premium written by Conventional (Life & Non Life) Insurance Companies
Total contribution written by Takaful (Family & General) Operators
Rs. 184 billion

Rs. 8 billion
Total
GDP ratio of total business
Rs 192 billion
0.82 %
Pakistan Reinsurance Company Limited

Premium (Non-Life conventional only) Written
Rs. 9 billion
0.04%
07
EXECUTIVE, REGIONAL
& TECHNICAL
COMMITTEES
ACTIVITIES
SUMMARY OF THE ACTIVITIES OF EXECUTIVE COMMITTEE
EXECUTIVE COMMITTEE
In March 2014, the then EC
Insurance Rules 2002 pertaining
decided to re-take up the matter
to Training of Insurance Agent.
of Bank Limits with the Pakistan
The IAP informed SECP that in
Banks Association (PBA) and a
view of the very vast differences
detailed letter was addressed to
in practice and the scale of
the Chairman PBA highlighting
operations it is essential to treat
the issue. The PBA was impressed
life and non-life sectors separately.
upon that a criteria for enlistment
Also that insurance is a very
of insurance companies and limits
specialized line of business IAP
allocation must be evolved, which
do not believe there are that many
should be transparent and
institutions which can meet the
consistent and acceptable to both
requirement of the industry all
the sectors insurance and banks.
over the country hence approval
In September 2014, IAP's
of in house training be permitted
Sitting from Left to Right:
delegation met Mr. Tawfiq A.
and certification of the
Ms. Zehra Naqvi, Capt. Azhar Ehtesham Ahmed (Senior Vice Chairman),
Husain, Secretary General PBA
course/program should be by the
Mr. Mahmood Lotia (Chairman), Mr. Javed Ahmed (Vice Chairman)
and Mr. Masood H. Raja,
institute(s) authorized for this
& Mr. Atiq Anwar Mahmudi
Secretary PBA and gave a brief
purpose without any certification
Standing from Left to Right:
on this long standing issue of the
of the agent except confirmation
Mr. N.A. Usmani (Secretary General), Mr. Afzal-ur-Rahman,
industry. The meeting concluded
by the insurer as to the completion
Mirza Khadim Baig, Mr. Naim Anwar & Mr. Zeeshan Raza
with agreement from both sides
of the course by the agent e.g. PII.
that an objective criteria for
The curriculum would be as
insurance companies enlistment and assignment of limits will be
approved by SECP.
drafted. To take the matter forward a write-up was submitted to
PBA. Despite various follow-ups PBA did not respond to IAP's
Thereafter Circular No. 25 of 2015 dated 2nd July 2015 was
suggestions. In the meantime some members approached the EC
issued by the SECP advising another amendment in Rule 26(b)
with a request that the matter should be taken up at other forums viz
through SRO 649(I)2015 dated 2nd July 2015. Reference to this
CCP, SECP etc. Matter was therefore discussed and opinion was
circular SECP was informed that a number of issues require
also taken from IAP's legal advisors and various options are under
clarification/discussion and request was made that the matter be
consideration.
discussed before finalizing so as to ensure smooth effective
implementation.
n
A meeting of IAP representatives with Mr. Nayyar Hussain,
Director, Policy, Regulation and Development, Insurance Division,
n
The SECP vide Circular No. 23 of 2015 advised that the current
SECP was held on 5th November 2014 in SECP's office regarding
regulatory framework does not recognize any requirements for an
IBNR Guidelines. IAP's reservation on the IBNR Guidelines were
insurer registered under the Ordinance to maintain the credit or
expressed to SECP. Mr. Nayyar Hussain seemed very receptive and
financial strength rating issued by any local or foreign rating agency.
understood IAP's view point, the argument he put forward that SECP
Hence, the practice of imposing any such requirement by an insurer
had collected information regarding provisioning of IBNR reserves
on the reinsurer accepting the local placement of facultative
being made by the companies and on the basis of the information
reinsurance shall be construed as ultra vires. Also that an insurer
collected they have found that provisioning by some companies was
shall circulate the entire risk (100%), which is in excess to its net
either not proper or in adequate. He advised that they are compiling
retention and cession to the treaty, in the local market first for
the results and will share with IAP for review and further discussions.
utilizing the available reinsurance capacity and thereafter approach
the Commission to seek the permission for foreign facultative
reinsurance placement after completing the procedural requirements
n
In March 2015 SECP proposed amendments in Rule 26 of SECP
n
10
as prescribed under Rule 7. Unless the permission is granted by the

Commission in writing, no placement of risk shall be made with
the foreign reinsurer(s). The IAP in this regard submitted that
selection of reinsurer for adequate reinsurance protection is the right
of each insurer and primarily has to ensure that the reinsurer is
financially stronger and of a higher standing than the cedant itself.
The IAP strongly recommended that SECP should make sure that
such acceptance of facultative reinsurance is on an absolute net
retention basis and that there is no reinsurance protection for such
risk involving any treaty/facultative/facility/special acceptance that
it may have in place.
n
Reference SECP Circular No. 21 of 2014 on Related Party
Assets, the IAP representatives met the Commissioner Insurance
on 23rd April 2015 at SECP office in Karachi. Syed Nayyar Hussain,
Director SECP and Mr. Tariq Hussain, Director, were also present
at the meeting and it was agreed that requirements of Circular 21
of 2014 would be effective from 1st January 2016 for which insurance
companies will be required to make application on or before 31st
December 2015 for obtaining declaration of the Commission in
respect of any asset as admissible assets, the declaration shall be
valid for a period of one year and the companies would be required
to make application every year. It was also agreed that for the
purpose of Solvency the assets be valued at Market Value and the
SECP will take necessary action to make changes in the Solvency
Rules.
In February 2015, SECP felt need to restructure the Small

Dispute Resolution Committee (SDRC) and made rules in
consultation with IAP namely "Small Dispute Resolution Committees
(Constitution and Procedure) Rules, 2015. As per these rules the
Committees shall be constituted at Islamabad, Karachi, Lahore and
such other places as may be specified by the Commission. The
SDRC shall comprise of a lawyer, a Chartered Accountant and an
individual from the insurance industry to be appointed in consultation
with the Insurance Association of Pakistan (IAP)
The SDRC shall have the authority to arbitrate disputes having

pecuniary limits prescribed in the rules.
The Taxation and Life Committees finalized the proposals on
various matters concerning the insurance industry which were
forwarded to the Federal Board of Revenue / Punjab Revenue
Authority, Sindh Revenue Board, Khyber Pakhtunkhwa Revenue
Authority, Securities and Exchange Commission of Pakistan and
Federation of Pakistan Chambers of Commerce and Industry.
An Insurance Awareness Campaign was developed by IAP in

consultation with a renowned advertizing agency namely M/s Lowe
and Rauf under supervision of chairmen technical committees of
IAP. It went on air on FM Radio Channels from 27th May to 19th
June 2015 on FM-100, FM-101 and 107.
The Foundation stone of IAP House was laid by Mr. Mahmood

Lotia, Chairman IAP and the members of the Executive Committee
of IAP in September 2015.
The SECP vide SRO 823(I)/2014 dated 16th September 2014

proposed considerable increase in Annual Supervision Fee and
elicited objections and suggestions thereon if any. A request was
therefore made that the proposed increase in supervision fee should
not be made and the current scale of fee be maintained. The SECP
acceding to IAP request did not increase the fee.
n
n
SECP's attention was drawn to sub-paragraph 'a' of the subject
circular SECP Circular No. 14 of 2013 which requires that for the
purposes of establishing the identity of a potential policyholder,
procurement of the CNIC of policyholder is the bare minimum
mandatory requirement. Practically it is very difficult to obtain
copies of the CNIC for personal line insurances like Travel Policy
and the like where policies are issued on line. Also that CNIC
verification through 'Verysis' is a cumbersome and an impractical
process. In case of Bancassurance and other personal lines products,
due process as required by regulators, in respect of Customer Due
Diligence/Know your customer, is carried out by the banks and
insurers access customers who have been duly verified. The SECP
has been requested to amend the requirement of obtaining copy of
CNIC at the time of policy issuance for policies issued on-line and
for personal lines/Bancassurance policies.
The IAP announced to celebrate third "Insurance Day" on the

6th May 2015. Like previous years the Day started with the
publication of special supplements on insurance and insurance
industry in the leading newspapers of the country. Messages, articles
and interviews from the Commissioner Insurance, Director Insurance
Division, SECP, IAP Executive Committee and IAP members, were
the main feature of the supplements. In addition to this the following
activities were organized by the IAP and member companies on the
insurance day:
Press Briefing at Karachi Press Club

Talk Shows on TV/Radio Channels
Road Shows at Universities
Super Final Cricket Match
Beach Cleaning Activity
Banners display
Essay Competition
11
SUMMARY OF THE ACTIVITIES OF

REGIONAL COMMITTEE NORTH
REGIONAL COMMITTEE NORTH
The Regional Office North (RON)
having office at 188-A, Opp.
Rehmania Park, Shadman-I,
Lahore, completed its 43rd year
of establishment on 31st
December, 2014.
event at Wapda Sports Complex

on 7th December, 2014 -thickly
participated by executives and
staff of most of the insurance
companies operating in Lahore
along with their families.
Surveying companies also
participated in this mega event
with good attendance.
During the year, various matters

including inspections of risks
received the attention of Regional
Committee North (RCN).
The
following
educational/study programs were
organized by the RON.
n
Cricket tournament was
arranged by RON at Wapda
Sports Complex, Lahore on 22nd
March 2015.
- A visit to Pak Electron Limited

Ferozepur Road, Lahore was
arranged on 21st November 2014.

Mr. Muhammad Khurshid (Assistant Secretary), Syed Daood Ali Shah (Secretary)
n
Agent Foundation Courses
Syed Imran Rabbani (Vice Chairman), Mr. Naeemuddin,
Mr. Abdul Haye (Chairman)
were successfully completed to
Mr. Tehseen Ahmed Khan, Mr. Muhammad Ikram,
meet the requirement of SECP in
Mr. M.K. Baig (EC's Observer)
2014 and 2015.
Mr. Zain-ul-Haq Qureshi & Mr. Muhammad Hisham
- A visit to Nishat Processing Unit, Kahna, Lahore was arranged

on 27th January, 2015.
- A visit to Mughal Iron and Steel Industries Ltd., Sheikhupura
Road, Lahore was arranged on 11th June, 2015.
In connection with Insurance Day, RON planned different
programs to enhance the insurance awareness amongst general
public and to uplift the image of the industry as a whole. The major
activities included display of Banners at prominent places of Lahore
city, radio programs on different stations and a Panel Discussion on
"Career Opportunities & Future Challenges in Insurance Sector" at
Hailey College of Banking & Finance, Lahore.
Lahore Insurance Institute in collaboration with RON organized

a short duration seminar on "handling objections to life insurance
sales" on 9th September, 2014 at hotel Crown Plaza Lahore. It was
attended by 72 sales people from EFU Life and State Life Insurance
Corporation of Pakistan and conducted by the veteran MDRT Life
Member, Mr. M. Ishaque Khan who was Pakistan (State Life's) top
salesman during 1970s.
Sports and Social Activities committee of Lahore Insurance

Institute in collaboration with RON organized another spectacular
12
A short course on Property Insurance was arranged by RON

which was conducted by Mr. Zulfiqar Ali Khan of EFU General
from 12th to 14th November, 2014.
The Surveyors Exams were successfully conducted in May,

2014 under the supervision of RCN - IAP and LII.
RON in collaboration with Lahore Insurance Institute organized

a seminar on 14th May 2015 to create much needed awareness of
Engineering Insurances.
A Workshop on Importance & Scope of Liability Insurance in

Pakistan was conducted on 4th June, 2015 by Lahore Insurance
Institute in which 40 executives of various insurance companies
participated.
SUMMARY OF THE ACTIVITIES OF ACCIDENT COMMITTEE
ACCIDENT COMMITTEE
n
Month wise data of four and
two wheelers obtained from CPLC
Karachi for the period June 2014
to May 2015 was shared with
member companies.
n
To update the member
companies on the important
periodical reports generated by
the IAP online claims management
system, graphical presentations of
the (top-5) reports for the period
January 2014 to June 2015 were
circulated to member companies.
Model" and the Ministry of

Finance has written to all the
provincial governments to consider
amending the Motor Third Party
Liability Insurance Scheme in
accordance with the
recommendations made by the
SECP.
n
Representatives of M/s Fakhar
International Karachi made a
presentation at the Accident
Committee meeting on a device
they intended to introduce in the
Mr. Naim Anwar (EC's Observer) Mr. Altaf Ahmed Siddiqi (Chairman),
market. During presentation they
Mr. Mahmood Ahmed (Vice-Chairman) & Syed Matin Ahmed
informed that the said device may
n
Summary of data of
help tracing the robbers and
snatched/stolen vehicles fitted with
Mr. M. Numan Shaikh (Suptt. Accident & Life), Mr. Jawwad Bin Yousuf,
recover the robbed cash within 30
tracking devices for the last five
Mr. N.A. Usmani (Secretary General), Syed Anwer Hasnain &
minutes. According to them they
years (2010 to 2014) was reviewed
Mr. Hasan Mustafa
had demonstrated working of the
and circulated to member
device to few banks as well who found it useful and are ready to
companies.
invest on the system. The banks have suggested them to approach
insurance companies as well being equal beneficiary. The
n
The statistics of Health/Medical insurance business for the
representatives of Fakhar International were informed that at this
year 2014 on the basis of returns from member companies was
stage the proposed device might not be feasible for the insurance
reviewed and finalized. The figures were posted on IAP website.
companies.
n
Summary of Motor Insurance business extracted/compiled
from members' annual reports was reviewed and circulated to member
companies.
n
In March 2015, the SECP referring to IAP's proposal to introduce
No Fault Model by amending the Motor Vehicles Act 1939 informed
that they have suggested the amendment as recommended by IAP.
SECP also informed that few other amendments have also been
suggested to bring the compensation at par under the existing model
and the No Fault Model. On EC's advice SECP's proposal was
reviewed by the Committee. On 8th April 2015 a press release was
issued by the SECP informing that the Commission has recommended
amendments in Motor Vehicles Act, 1939 to introduce "No Fault
13
SUMMARY OF THE ACTIVITIES OF LIFE COMMITTEE
LIFE COMMITTEE
Consequent to various
efforts by the life companies the
Sindh Revenue Board allowed
exemption to Life and Health
Insurance services for the period
from 1st July, 2014 to the 30th
June, 2015. The Committee felt
that this exemption is only for this
financial year therefore efforts be
made for the permanent
exemption. In this connection an
emergent meeting of LC and
CEOs of Life Insurance
Companies was held on 9th
January 2015 wherein it was
agreed to hire M/s. M. Yousuf Adil
Saleem & Co, Chartered
Accountants (Deloitte).
n
In response to amendment in
the Rule 26(b) of the SEC
(Insurance) Rules, 2002 proposed
by SECP the Committee finalized
suggestions for submission to
SECP.

Mr. Javed Ahmed (EC's Observer) Syed Shahid Abbas (Chairman),
Mr. Muhammad Danial Khan (Vice-Chairman) & Mr. Muhammad Rashid
Mr. M. Numan Shaikh (Suptt. Accident & Life), Mr. Jalal Meghani,
Mr. Manzoor Ahmed & Mr. N.A. Usmani (Secretary General)

The SRB vide notification No.
SRB-304/11/2015 dated 4th
August 2015 has exempted the Life and Health Insurance services
from 1st July 2015 to 30th June 2016.
Reference FBR's announcement to elicit suggestions from the

general public on tax reforms, the Committee made suggestions for
the Taxation Committee's consideration.
In November 2014, subsequent to notices to life insurance

companies regarding provision of information under Section 57(3)
Punjab Sales Tax on Services, Act 2012 Sales Tax on Commission
from the Punjab Revenue Authority (PRA) seeking information in
respect of life insurance agents to indirectly imposing sales tax on
insurance agents. M/s Deloitte on behalf of IAP addressed a detailed
letter to the Chairman SECP requesting them to approach PRA and
persuade them to help this sector exempted from sales tax is in line
with tax policies followed in most countries of the world and other
provinces of Pakistan.
14
SUMMARY OF THE ACTIVITIES OF MARINE COMMITTEE
MARINE COMMITTEE
n
Statistics for the inland
transit losses for the year 2014
was reviewed and finalized.
n
A portal on IAP website could
be efficiently used for online
acceptance /rejection of
reinsurance business rather than
circulating market slips within
industry. The proposed portal will
save lot of time consumed in
circulation of the market slips and
will overcome the unnecessary
delay in finalizing the business
proposals. It has been suggested
to discuss the idea/take formal
approval from the Regulator.
n
Marine statistics were
compiled from members' Annual
Reports for the year 2014 and
uploaded on IAP's Website.
n
Reviewed statistics of losses
resulted due to terrorists attack on
Karachi Airport on June 08, 2014
to analyze the huge losses borne
by the industry.
The Committee finalized

warranties/guidelines regarding
trade through Wahgah Border in
order to protect the risks with
respect to cargo placed at Wahgah
Border Terminal. The guidelines
were circulated to members in
advisory capacity.
n

Ms. Zehra Naqvi (EC's Oberver), Mr. Mohammed Safdar, Mr. Mohammad
Sohail Nazir (Chairman) Ms. Amna Sarfaraz Khan (Vice-Chairperson)
& Mr. Ghulam Mustafa Khan
Mr. Mumtaz Ali (Risk Surveyor), Mr. Kamran Safi Rizvi,
Mr. N.A. Usmani (Secretary General), Mr. Muhammad Murtuza Kazi
& Mr. Asad A. Siddiqi
n
To find out root cause of the delay in discharge of the cargo
at airports and seaports, the representatives of the Clearing &
Forwarding companies namely M/s. Anwar ul Islam & Co. and
Double T Traders were invited at the Committee meetings. The
Committee intends to develop a questionnaire in the light of
information gathered so that matter could be discussed with concerned
authorities/stakeholders.
n
The Committee discussed probable effect on the insurance
industry regarding Insurance Bill (HL2014-15), introduced in the
House of Lords, the UK parliament's upper chamber which may go
into effect soon. It noted that the bill will prompt underwriters to
review their business practices and elimination of claim denials
under unintended buyer errors. Since buyer's disclosure will play
a vital role in view of suggested changes, it has been agreed that a
meaningful 'Proposal Form' for the purpose of insured's declaration
may be prepared by the IAP subsequent to enforcement of bill in
London market. The proposal form would include easy but real and
specific questions to be replied by the insured.
15
SUMMARY OF THE ACTIVITIES OF PROPERTY COMMITTEE
PROPERTY COMMITTEE
The Committee reviewed
quarterly Fire statistics
highlighting premium and loss
figures of different risk segments.
The data for the year 2014 was
compiled and circulated amongst
members for information and
uploaded on IAP website for
exclusive use of members.
Comparison of Fire portfolio

for last 5 years on year and quarter
wise comparison was prepared for
analysis at a glance by the
members. It took into account
Gross Premiums vs Gross claims
and Net premiums vs Net claims
and loss ratios. The data with
graphical presentations was
circulated to members.

Mrs. Shaheen Hafeez Sumar, Capt. Zubair Hussain Qureshi (Vice-Chairman)
Mr. Azfar Arshad (Chairman) & Mr. Kamran Mazhar
Mr. N.A. Usmani (Secretary General), Mr. Faisal Khan, Mr. Ali Asghar
Mr. Khalid Rafiq & Mr. Mumtaz Ali (Risk Surveyor),
Electrical clause A was reviewed, since it was part of the

General Exclusions of the Fire policy the Committee advised
discontinuation of the Clause.
Conventional insurance companies have been allowed to operate

Window Takaful and few companies have started such operations,
therefore it would be necessary for takaful companies to use
contracts/clauses containing Takaful terminology. It has been suggested
to appoint professionals from member Takaful/Windo Takaful
operators on the Property Committee to commence this work.
The Committee has decided to review fire safety standards

developed years back by the IAP. Previously the standards were
developed for three categories of risks. It could be done in two ways:
either list down the categories afresh due to new developments over
the years or advise guidelines for most common risks. The matter
is under consideration by the Committee.
16
MARKET OVERVIEW
OF
NON LIFE
INSURANCE INDUSTRY
IN
PAKISTAN
NON LIFE INSURANCE PRIVATE SECTOR

Profit and Loss Account
Balance Sheet
as at 31st December
2014
2013
2012
2011
Rs. in million
Equity
Issued, Subscribed & Paid up Capital
Reserves and Retained Earnings
Surplus on revaluation of fixed assets
Adv.Agst issue of right shares
Underwriting Provisions
Provisions for Outstanding
Claims (including IBNR) 21,712
Provision for Unearned Premium - Net
Commission Income Unearned
Additional Provision for Unexpired Risk
Total
18,699
50,977
69,676
1,818
-
16,910
46,323
63,233
1,820
-
14,011
44,417
58,429
157
-
24,038
24,323
1,511
21
47,568
23,007
21,259
930
1,338
47,564
18,822
19,738
28
1,385
44,158
17,603
1,362
292
38,078
Deferred Liabilities
Liability against Finance Lease
Creditors and Accruals
Surplus of Fix Assets/Short Term Finance
Other Liabilties
454
15,570
3,073
338
13,905
2,294
271
11,732
4,049
275
6
10,966
2,152
138,159
129,155
118,796
108,289
11,490
10,777
10,535
9,392
361
326
62
420
69,228
62,681
56,786
53,933
1,720
953
766
1,036
294
382
525
484
Reinsurance Recoveries Against

Outstanding Claims
13,598
16,271
15,638
11,853
Deferred Commission Expense
2,258
2,064
1,960
1,798
32,515
29,065
6,620
74
6,555
81
26,089
6,195
241
-
23,831
5,298
245
-
138,159
129,155
118,796
108,289
Total Equity and Liabilities

Cash and Bank Deposits
Loans - Secured Considered Good
Investment
Investment Properties
Deferred Tax
Other Assets
Capital Work
Fixed Assets
Leased Assets
Negative Goodwill
Total Assets
BALANCE SHEET RATIO
Net Working Capital (Rs.)
Current Ratio
Total Assets/Net Worth
Break up Value
17,247.65 15,876.21 13,473.27 13,135.83

1.43
1.39
1.35
1.41
1.98
2.04
2.03
1.93
37.26
37.39
41.70
40.11
100000
2011
2012
2013
2009
2011
2010
2012
2011
2013
(6,947.20)
(6,397.19)
(5,492.81)
Less: Net Commission
(2,006.25)
(1,666.66)
(1,311.14)
(1,515.24)
Underwriting Balance
4,656.28
3,024.84
2,351.75
3,074.35
Investment Income
7,431.52
7,097.80
5,298.49
3,742.06
263.59
265.57
249.81
225.33
1,341.00
347.32
399.84
(2,695.03)
(3,792.25)
Rental Income
Other Income
General and administration expenses
(3,239.96)
1,079.23
(2,699.22)
Profit Before Tax
10,452.42
8,768.22
5,552.35
3,649.32
Taxation
1,309.13
1,268.05
647.97
449.56
Profit After Tax
9,143.29
7,500.17
4,904.38
3,199.76
22,308.22
9,143.29
1,806.68
392.37
1,107.13
10.36
3,316.54
20,836.55
8,119.97
2,860.90
2,602.30
1,200.64
(15.54)
6,648.30
18,627.78
4,904.38
2,289.06
451.40
23.30
(68.16)
2,695.60
16,953.32
3,199.76
1,534.23
732.25
(739.20)
(1.98)
1,525.30
Balance Unappropriated profit at end of year 28,134.97
22,308.22
20,836.56
18,627.78
(54.71)
29.17
(27.02)
(6.48)
4.44
2,860.90
2,602.30
(57.08)
20.91
(27.28)
(5.59)
3.50
2,289.06
451.40
(58.14)
13.36
(22.93)
(6.33)
2.29
1,534.23
732.25
APPROPRIATIONS
Balance unappropriated profit at
end of previous year
Profit after tax for the year
Dividend
Reserve for Bonus share
General Reserve
Other
Sub Total
UNDERWRITING RATIOS
Claims incurred to net premium
Net Profit to net premium
Management expenses to net premium
Commission to net premium
Earning per share of Rs.10/= each
Cash Dividend
Stock Dividend
Net Premium Underwritten
40000
30000
14000
20000
13500
10000
13000
12500
2011
2012
2013
2014
2011
14000
12000
10000
80000
60000
40000
20000
0
2011
2012
2013
2012
2013
2014
2011
Net Profit after tax
Cash and Bank Balances
2012
2014
(50.81)
31.97
(25.88)
(7.01)
4.89
1,806.68
392.37
14500
Investments
80000
70000
60000
50000
40000
30000
20000
10000
0
(7,403.15)
60000
2014
2014
2011
Less: Expenses
Claim Incurred
2012
28,601.22 25,707.61
23,451.50 23,952.72
(2.74)
(3.10)
(6.10)
56.16
(14,532.81) (14,065.81) (13,385.33) (13,926.49)
15000
20000
2013
Rs. in million
80000
40000
50000
2014
Revenue Account
Net Premium Revenue
Premium Deficiency reversal/(expense)
Less: Net Claims
Equity Growth
Balance Sheet Growth
150000
13,972
42,065
56,037
774
-
for the year ended 31st December
10000
9000
8000
7000
6000
5000
4000
3000
2000
1000
0
2011
2012
2013
2012
2013
2014
Dividend and other appropriations
2014
7000
6000
5000
4000
3000
2000
1000
0
2011
2012
2013
2014
Note: The amount on y-axis represent Rs. in million
19
MARKET OVERVIEW
OF
LIFE INSURANCE
INDUSTRY
IN
PAKISTAN
LIFE INSURANCE PRIVATE SECTOR

Balance Sheet
Rs. in million
as at 31st December
Statutory Fund
Share
holders
Fund
Individual Individual
Life
Unit
Linked Fund Conventional
Group
Life
Group
Pension
Accident
& Health
Aggregate
2014
Aggregate
2013
Aggregate
2012
Aggregate
2011
Share Capital and Reserves

Authorised Share Capital
5,600.00
0.00
0.00
0.00
0.00
5,600.00
4,900.00
4,900.00
4,500.00
Issued, subscribed and paid up

Share Capital
Reserves & Retained Earnings
Net Shareholders' Equity
3,750.97
3,663.06
7,414.03
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
3,750.97
3,663.06
7,414.03
4,156.90
2,415.66
6,572.57
3,712.74
1,646.43
5,359.17
3,512.24
1,110.05
4,622.30
0.00
13.73
431.61
0.00
445.34
115,731.29
0.08
4,325.63
0.00
120,056.92
7,183.09
0.00
1,708.44
0.00
8,891.53
0.00
0.00
0.00
0.00
0.00
916.74
0.00
257.54
0.00
1,174.28
371.69
0.00
117.95
0.00
489.64
124,202.81
13.81
6,841.16
0.00
131,057.70
89,506.30
16.30
6,316.30
0.00
95,838.90
64,067.09 43,414.60
8.71
5.46
4,893.43 4,348.07
24.00
0.00
68,993.22 47,767.16
TOTAL EQUITY & LIABILITIES 7,859.37
120,056.92
8,891.61
0.00
1,174.28
489.64
138,471.81
102,411.46
74,352.39 52,389.44

Loans
Investments (Net)
Investment in properties
Deferred Taxtation
Other Assets
Tangible assets
Intangible assets
825.68
77.88
4,994.34
0.00
0.00
969.94
911.09
80.44
12,318.77
3.52
103,083.72
0.00
0.00
3,953.85
697.06
0.00
902.87
134.51
6,932.27
0.00
0.00
910.84
11.12
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
19.58
0.00
930.46
0.00
0.00
224.07
0.17
0.00
46.98
0.02
195.36
0.00
0.00
246.69
0.59
0.00
14,113.88
215.93
116,136.14
0.00
0.00
6,305.40
1,620.03
80.44
13,357.66
192.03
84,961.19
0.00
0.00
2,574.51
1,278.50
47.57
7,040.44 3,891.94
167.42
162.98
64,089.71 45,158.72
0.00
0.00
0.00
2.41
1,982.31 2,357.84
1,023.48
768.85
49.04
45.64
TOTAL ASSETS
7,859.37
120,056.92
8,891.61
0.00
1,174.28
489.64
138,471.81
102,411.46
74,352.39 52,389.44
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
13,794
3.02
19
-
9,808
2.55
16
-
4,297
1.88
14
-
2,065
1.47
11
-
Balance of statutory fund

Other Liability
TOTAL LIABILITIES
ASSETS AT MARKET VALUE
BALANCE SHEET RATIOS

Net Working Capital
Current Ratio
Total Assets / Net Worth
Break -up Value
21

Revenue Account
Rs. in million
Statutory Fund
Individual Individual
Unit
Life
Linked Conventional
Fund
Group
Life
Group
Pension
Accident
& Health
Aggregate
2014
Aggregate
2013
Aggregate
2012
Aggregate
2011
Net Premium Income
40,332.25
3,635.71
0.00
1,719.89
549.42
46,237.27
39,262.06
29,924.19
21,441.08
Net Investment Income
17,998.54
897.55
0.00
112.00
43.36
19,051.44
10,479.31
9,006.28
4,357.74
0.00
0.00
0.00
0.00
0.00
0.00
16.07
0.00
0.00
Total Net Income
58,330.79
4,533.26
0.00
1,831.88
592.78
65,288.71
49,757.44
38,930.47
25,798.82
Net Claims
10,890.21
1,976.73
0.00
1,275.77
417.48
14,560.20
10,697.70
7,028.08
5,093.68
Net Management Expenses
11,424.86
1,352.65
0.00
196.30
128.07
13,101.87
11,420.62
9,427.39
7,735.48
Total claims and expenditures
22,315.07
3,329.38
0.00
1,472.06
545.55
27,662.07
22,118.32
16,455.47
12,829.16
Excess of Income over Claims and Expenditure
36,015.71
1,203.87
0.00
359.82
47.23
37,626.64
27,639.12
22,475.00
12,969.69
Other Income
Add : Policyholder Liabilities at Beginning of Year 81,341.74
5,042.52
0.00
316.88
191.51
86,892.64
62,519.24
42,247.25
30,926.11
Less : Policyholder Liabilities at End of the Period 113,744.00
5,950.46
0.00
553.25
192.52
120,440.23
87,099.96
62,519.24
42,147.49
3,613.46
295.93
0.00
123.45
46.21
4,079.04
3,058.40
2,203.01
1,650.33
Movement in policy holder liabilities
32,402.27
907.95
0.00
236.37
1.02
33,547.60
24,580.72
20,271.99
11,320.39
Transfers to or from Shareholders' Fund
(2,674.56)
(58.55)
0.00
(0.18)
28.47
(2,704.82)
(2,646.56)
(1,875.17) (1,510.75)
0.00
22.99
0.00
(5.00)
71.91
89.90
191.94
348.80
234.96
Balance of Statutory Fund at Beginning of Year
82,390.12
6,037.75
0.00
562.11
245.99
89,235.97
57,335.88
43,414.84
31,561.56
Balance of Statutory Fund at End of the Period
115,731.29
7,206.07
0.00
916.75
393.59
124,247.80
82,520.38
64,363.47
43,414.62
712.38
581.63
0.00
56.00
142.31
1,492.32
1,731.58
1,563.74
1,186.78
113,408.97
5,786.93
0.00
553.25
173.51
119,922.66
87,099.96
62,519.24
42,247.49
Retained earnings on other than participating business1,609.94
814.51
0.00
307.50
55.87
2,787.82
674.75
280.49
(18.62)
115,731.29
7,183.07
0.00
916.75
371.69
124,202.80
89,506.30
64,363.47
43,414.62
0.00
0.00
0.00
0.00
0.00
0.31
0.27
0.23
0.24
Surplus/(Deficit)
Capital contributed from share holders fund
Represented by:
Capital contributed by Shareholders' fund
Policyholders' liabilities
Balance of Statutory Fund
REVENUE ACCOUNT RATIOS

22
Net profit to net premium
0.00
0.00
0.00
0.00
0.00
0.09
0.08
0.07
0.08
Management expenses to net premium
0.00
0.00
0.00
0.00
0.00
0.28
0.29
0.32
0.36

Aggregate
2014
Aggregate
2013
Aggregate
2012
Aggregate
2011
Net Investment income not attributable to statutory funds
474.26
386.48
326.87
267.19
Gain / (Loss) on sale of investments

Impairment of Shares
Total Investment Income
349.22
1
824.37
46.57
50
483.51
68.06
249
643.61
27.63
294.82
35.94
30.18
34.01
25.11
Total Investment Income and other revenues
860.31
513.69
677.62
319.93
Less Expenses not attributable to statutory funds
(185.74)
(158.71)
(120.03)
(46.47)
Other revenue
Profit / (Loss) before appropiation of surplus to shareholders fund
674.57
354.98
557.60
366.40
Add: Surplus appropiated to Shareholders fund from ledger A/C D
2,879.96
2,622.47
1,903.33
1,525.00
Profit/(Loss) before tax
3,554.52
2,977.44
2,460.92
1,685.66
(7.57)
0.00
0.00
(1.87)
3,562.10
2,977.44
2,460.92
580.48
(1,150.26)
(960.51)
(806.34)
(449.21)
2,411.84
2,016.94
1,654.59
1,098.95
3,391.49
2,879.84
1,994.05
1,477.92
2,411.84
(250.00)
0.00
(1,049.79)
0.00
(55.03)
0.00
4,448.51
2,016.94
(268.00)
(150.00)
(996.38)
0.00
0.00
(30.91)
3,391.49
1,654.59
0.00
0.00
(740.64)
0.00
(28.16)
0.00
2,879.84
1,078.73
0.00
0.00
(569.57)
0.00
(14.25)
0.00
1,994.05
30.15
170.00
0.00
27.14
66.50
15.00
23.28
51.50
0.00
15.67
5.64
0.00
Extra Ordinary Items - Deferred Tax

Profit/(Loss) before tax and after extraordinay items
Taxation
Profit/(Loss) after tax
APPROPRIATIONS
Balance at commencement of the year
Transfer to General Reserve
Transfer to Bonus Share
Proposed Dividend
Right Share issued
Capital (contributed)/during the year
Capital withdran during the year
Balance upappropriated profit at the end of the year
PROFIT AND LOSS ACCOUNT RATIOS
Earning per share
Cash Dividend
Bonus Share
8000
7000
6000
5000
4000
3000
2000
1000
0
100000
50000
0
2011
2012
2013
2014
100000
80000
60000
40000
20000
0
2012
2012
2013
2014
2011
2013
2014
16000
14000
12000
10000
8000
6000
4000
2000
0
2011
2012
2013
2012
2013
2014
2011
120000
2011
50000
45000
40000
35000
30000
25000
20000
15000
10000
5000
0
16000
14000
12000
10000
8000
6000
4000
2000
0
2011
Investments
140000
Net Premium Underwritten
Claim Incurred
Equity Growth
150000
2014
1200
2500
1000
2000
800
1500
600
1000
400
500
200
2011
2012
2013
2013
2014
3000
2012
2014
2011
2012
2013
2014
23
COMPANY PROFILES
ACE INSURANCE LIMITED
Ms. Zehra Naqvi

Values:
ACE Pakistan is committed to the ACE Group

Values which are:
Integrity:
We comply with all applicable laws regulations

and company policies in our words and in our
deeds. Honesty, Character and ethical behavior
guide us to do the right thing.
Client Focus: We are committed to our clients. We strive to

understand their risks, we make promises
and we keep them.
Respect:
Excellence:
Teamwork:
We value our employees, partners and

communities. We are dedicated to fair treatment,
diversity, trust and mutual respect.
We recognize and reward excellence in the
workplace. Performing at the highest level
requires us to think and act like owners.
We believe an environment of open
communication and collaboration produces
results. We encourage full participation, different
perspectives, constructive criticism and a sense
of pride in who we are and what we do.
Mission:
1)
2)
3)
ACE is committed to being a leader in the global

insurance and reinsurance market by always
conducting business in a consistent, disciplined
and focused manner. The ACE way is to provide:
Superior Client Value
Superior Shareholder Value
Superior Employee Value
Key Financial Data for the last two (2) Years
(Rs in million)
Premium written
Net premium revenue
Claims expense
Net claims expense
Net commission / (income)
Management expense
Profit / (loss) after tax
2014
2013
778
245
104
10
14
97
183
580
153
551
29
(15)
77
81
COMPANY INFORMATION
1. Chairman
Ms. Zehra Naqvi
6. Auditors
A. F. Ferguson & Co
2. Chief Executive Officer
Ms Zehra Naqvi
3. Directors
Mr. Giles Ward

Mr. Serge Osouf
Mr. Stephen Brian Dixon
Mr. Kenneth Underhill
Ms. Zehra Naqvi
Mr. Syed Umer Ali Shah
Mr. Kamal Ahmed
7. Registered Office /
Main Office
6th floor, NIC Building,

Abbasi Shaheed Road Off:
Shahrah-e-Faisal, Karachi
8. Number of Employees
15
4. Company Secretary
& CFO
Mr. Kamal Ahmed
5. Legal Advisor
Ebrahim Hosain
26
ACE INSURANCE LIMITED

Balance Sheet
as at 31st December
2014
2013
2012
2011

2014
2013
2012
Restated
2011
244.94
152.06
116.28
-
228.52
-
Less: Net claims
10.21
29.13
4.15
86.57
Less: Expenses
96.51
77.32
74.17
63.19
14.41
123.81
(14.92)
60.53
(29.39)
67.35
1.14
77.62
Restated Restated
Equity
Authorized share capital
300.00
300.00
300.00
300.00
300.00
213.98
513.98
300.00
97.66
397.66
300.00
101.17
401.17
300.00
87.72
387.72
Underwriting provisions
Provision for outstanding
claims (including IBNR)
Provision for unearned premium - net
Additional provision for unexpired risk
Commission Income unearned
Total
Deferred liabilities
351.14
339.24
20.21
710.59
-
592.37
276.99
7.35
876.71
-
323.85
307.71
11.43
642.99
-
482.55
271.64
14.13
768.32
-
Creditors and accruals
142.70
341.01
311.57
372.78
Issued subscribed and paid-up capital

Reserves and retained earnings
Other liabilities
1,367.27
1,615.38
1,355.73
1,528.82
626.00
741.10
762.32
837.97
Loans - secured considered good
Investments
Investment properties
3.98
3.47
1.43
0.29
295.21
518.25
235.95
361.98
Cash and bank deposits
Deferred tax
Reinsurance recoveries against
outstanding claims
Deferred commission expense
29.21
15.26
5.32
8.16
Other assets
394.04
324.17
334.57
303.97
Fixed assets
18.83
13.13
16.14
16.45
TOTAL ASSETS
1,367.27
1,615.38
1,355.73
1,528.82
Assets at market value
1,367.27
1,615.38
1,355.73
1,528.82
Leased motor vehicle

Net working capital (Rs.)
Current ratio
Total assets / net worth
Break-up value
821.41
2.66
2.66
17.13
650.14
1.70
4.06
13.26
697.42
2.10
3.38
13.37
648.59
1.76
3.94
12.92
1,500
1,400
1,300
2012
2013
Rental income
Investments
2012
2014
2013
(7.22)
(5.88)
(5.65)
(6.61)
56.54
Profit before tax
277.50
125.73
142.91
131.42
Provision for taxation
94.92
45.22
53.47
48.78
182.58
80.51
89.44
82.64
74.48
74.48
1.07
75.55
85.99
89.10
2.92
92.02
83.45
(3.28)
82.50
1.12
83.62
17.87
-
Balance unappropriated profit at end of year
181.51
74.48
85.99
83.45

Claims incurred to net premium %
Net profit after tax to net premium %
Management expenses to net premium %
Commission to net premium %
Earning per share (Rs.)
Cash dividend
Stock dividend
4.17
74.54
39.40
5.88
6.09
74.48
-
19.16
52.95
50.85
(9.81)
2.68
89.10
-
3.57
76.92
63.79
(25.28)
2.98
82.50
-
37.88
36.16
27.65
0.50
2.75
17.06
Profit after tax

APPROPRIATIONS
Balance at commencement of year
Effect of change in accounting policy
Dividend
Reserve for bonus share/bonus shares issued
General reserve
Other comprehensive income
2014
17.06
17.06
Net Premium Revenue
300
250
200
150
100
50
2011
2012
2013
2011
2014
2014
78.47
2012
2013
2014
200
180
160
140
120
100
80
60
40
20
2012
63.15
68.12
20
2011
84.12
159.64
2013
74.00
Net Claims
900
800
700
600
500
400
300
200
100
Finance charges on lease rentals
40
2013
166.86
60
2012
Other income
80
2011
2014
1
1
1
1
1
1
0
0
0
0
2011
100
600
500
400
300
200
100
1,600
Investment income
Equity Growth
1,700
2011
Less: Net commission

Underwriting result
Exchange gain
TOTAL EQUITY AND LIABILITIES
1,200
Revenue account
Net premium revenue
Premium deficiency reversal/(expense)
100
80
60
40
20
-
2011
2012
2013
2014
2011
2012
2013
2014
27
ADAMJEE INSURANCE
COMPANY LTD
Mr. Muhammad Ali Zeb
Vision:
Mission:
Our will is to Explore, Innovate and Differentiate.

Our passion is to provide leadership to the
insurance industry
Integrity
Humility
Fun at workplace
Corporate Social Responsibility

2014
12,145
6, 303
6,121
4,088
362
1,483
1,879
Premium written
Net premium revenue
Claims expense
Net claims expense
Net commission expense
Management expense
Profit after tax
(Rs in million)
2013
10,077
5,507
7,605
3,487
348
1,535
1,966
COMPANY INFORMATION
1. Chairman
Mr. Umer Mansha
5. Chief Financial Officer
Mr. Muhammad Asim Nagi
Muhammad Ali Zeb
6. Legal Advisors
Jameel Khan
3. Directors
Mr. Ahmed EbrahimHasham

Mr. Ali Muhammad
Mahoon
Mr. Fredrik Coenrard deBeer
Mr. Kamran Rasool
Mr. Ibrahim Shamsi
Mr. Imran Maqbool
Mr. Muhammad Umar Virk
Mr. S.M. Jawed
Mr. Shahid Malik
7. Auditors
M/s KPMG Taseer Hadi &

Company
8. Registered Office
4th Floor, 27-C-III, Tanveer

Building, M.M. Alam Road,
Gulberg- III, Lahore
9. Main Office
2nd Floor, 27-C-III, Tanveer

Building, M.M. Alam Road,
Gulberg- III, Lahore
840
28
Mr. Tameez-ul-Haque
ADAMJEE INSURANCE COMPANY LTD

Balance Sheet
as at 31st December

2014
Equity
3,750.00

Total
Other liabilities
2013
Rs. in million
3,750.00
5,706.37
5,269.85
7,322.67
4,044.83
3,318.76
2,455.60
95.42
45.22

Investments
1,500.00 1,500.00
6,361.65 5,548.02
3,961.29 4,328.35
2,393.60 2,870.29
35.56
6.68
24.99
2,546.28
14.23
16.15
13,482.06 11,359.72

outstanding claims
97.69
105.40
3,669.23
5,574.43
12.79
17.18
9,948.29 9,451.73
241.17
195.07
4,330.23 3,799.37
390.65
6,012.69
6,027.42 6,690.19
Fixed assets
1,113.80
1,163.05
1,065.22
975.13
33.63
52.43
87.74
422.20
472.40
28,832.01 27,201.99 24,607.17 24,067.67

Current ratio
Break-up value
4,526.38
1.50
2.04
40.30
4,309.90
1.44
2.08
37.28
26,000
24,000
22,000
2011
2012
2013
2014
Investments
347.67
136.56
358.67
(412.27)
476.26
165.54
2,060.86
2,357.26
1,331.79
852.32
5.67
4.95
0.55
0.66
122.54
148.11
164.49
156.62
(527.08)
(445.35)
(4.70)
10.65
Investment income
Rental income
Other income
0.39
(2.70)
(1.78)
(5.58)
1,654.60 2,073.84 1,082.69
(15.18)
(207.50)
Profit before tax
2,030.47
2,210.40
670.42
(41.97)
(151.37)
(244.24)
(42.37)
174.15
1,879.10
1,966.16
628.05
132.18

Profit after tax
APPROPRIATIONS
8,106.14 8,806.82 8,356.57 8,599.33
Effect of change in accounting policy
(65.67)
Dividend
(787.50) (432.97) (185.56) (309.26)
- (2,262.96)
General reserve
11.358
29.078
7.751
(776.14) (2,666.84) (177.81) (309.26)
Balance unappropriated profit at end of year 9,209.09
66.25
1.89
24.56
6.82
1.07
(309.26)
-
Net Premium Revenue
2011
2012
2013
2011
2014
2,000
1,500
2012
2013
2014
2,000
500
1,500
1,000
1,500
1,000
1,000
2,000
500
500
73.04
11.07
27.91
6.32
5.08
(185.56)
-
2,500
2,500
2014
8,806.82 8,356.57
8,000
7,000
6,000
5,000
4,000
3,000
2,000
1,000
1,000
2014
3,000
2013
8,106.14

64.87
63.32
29.81
35.71
23.54
27.88
5.74
6.31
5.37
5.62
Cash dividend
(787.50) (432.97)
Stock dividend
- (2,262.96)
2,000
2013
(411.34) (1,202.30)
2.79
3,000
3,500
2012
361.77
369.21

Underwriting result
16,000
14,000
12,000
10,000
8,000
6,000
4,000
2,000
2011
4,142.67 4,626.30
4,000
2012
5,671.98 6,983.34
1,582.92 1,715.25
5,000
2011
5,506.56
3,486.86
Net Claims
16,000
14,000
12,000
10,000
8,000
6,000
4,000
2,000
28,000
20,000
4,074.24 4,416.61
1.46
1.52
2.14
2.22
92.85
87.59
6,302.55
1,535.47
Equity Growth
30,000
2011
4,088.22
2,507.41 2,378.97
477.30
TOTAL ASSETS
2012
1,483.35
58.57
7,101.07
2013
Less: Expenses
Exchange gain
Other assets
2014
Less: Net claims
Deferred tax
Revenue account
Net premium revenue
33.50
28,832.01 27,201.99 24,607.17 24,067.67

2,876.63
Rs. in million
231.12
182.18
313.28
371.69
11,207.34 11,549.69 10,636.23 10,248.05
106.25
98.25
31.04
22.01
2011
3,500.00 3,500.00 1,237.05 1,237.05

10,604.24 9,546.55 10,248.70 9,598.20
14,104.24 13,046.55 11,485.75 10,835.25
Borrowings
2012
2,500
3,000
2011
2012
2013
2014
2011
2012
2013
2014
2011
2012
2013
2014
29
ALLIANZ EFU
HEALTH INSURANCE LTD
Mr. Kamran Ansari
Vision:
Mission:
At Allianz EFU
Our vision is to be the Company of Choice
in the Healthcare Industry of Pakistan.
We will achieve this by meeting the needs of

Comprehensive Healthcare Services, far better
than others.
Premium written
Net premium revenue
Claims expense
Net claims expense
Management expense
We believe
That all segments of the society should have
access to high standards of Healthcare.
2014
(Rs in million)
1,493
995
1,047
732
(49)
206
172
2013
1,294
798
862
582
(34)
179
132
COMPANY INFORMATION
1. Chairman
Mr. Saifuddin N. Zoomkawala
2. Chief Executive Officer Mr. Kamran Ansari

3. Directors
Mr. Taher G. Sachak (Vice Chaiman)

Mr. Hasanali Abdullah
Mr. Rafique R. Bhimjee
Mr. Shahabuddin C. Subjally
Mr. Heinz Walter Dollberg
& CFO
Mr. Amjed Bahadur Ali
5. Lega1 Advisor
Lari & Co.

Haidermota & Co
6. Auditors
Ernst & Young Ford Rhodes

Sidat Hyder Chartered Accountants.
30
D-136, Block-4, KDA Scheme-5,

Clifton, Karachi-75600
8. Main Office
As Registered Office
9. Number of Employees 163
ALLIANZ EFU HEALTH INSURANCE LIMITED

Balance Sheet
as at 31st December
2014
2013
2012
2011
Rs. in million
Equity

798
-
753
-
645
-
Less: Net claims
732
582
568
524
Less: Expenses
154
134
125
117

Underwriting result
(49)
158
(34)
116
(35)
95
(53)
58
Investment income
101
87
91
37
500
500
300
278
578
300
226
526
300
154
454
300
27
327
236
398
33
667
222
404
26
652
219
315
21
555
216
379
27
622
87
73
53
64
Other liabilities
18
15
16
13
Exchange gain
1,349
1,266
1,078
1,027
42
34
26
36

Investments
759
757
640
519
Deferred tax

outstanding claims
81
80
77
76
19
18
11
11
Other assets
404
339
291
355
Fixed assets
40
34
28
25
1,349
1,266
1,078
1,027

TOTAL ASSETS
Current ratio
Break-up value
1.55
1.55
2.33
19.26
1.46
1.46
2.41
17.52
500
2011
2012
2013
2014
2012
24
22
39
(52)
(45)
(39)
(37)
77
67
74
39
234
183
169
97
62
51
42
40
Profit after tax
172
132
127
57
APPROPRIATIONS
226
154
27
20
Dividend
General reserve
120
-
60
-
50
-

Profit before tax
120
60
50
Balance unappropriated profit at end of year 278
226
154
27
72.91
16.49
16.77
(4.24)
4.39
60
-
75.50
16.88
16.55
(4.68)
4.24
-
81.17
8.81
18.14
(8.25)
1.90
50

Cash dividend (Rs in million)
Stock dividend (Rs in million)
2012
2013
2014
2011
2013
2014
2011
2012
2013
2013
2014
2014
200
180
160
140
120
100
80
60
40
20
-
2011
2012
2013
Net Premium Revenue
2011
45
40
35
30
25
20
15
10
5
-
2012
73.58
17.32
15.49
(4.94)
5.74
120
-
1200
1000
800
600
400
200
-
800
700
600
500
400
300
200
100
2011
Investments
2011
28
Other income
Net Claims
700
600
500
400
300
200
100
-
1000
800
700
600
500
400
300
200
100
-
1.59
1.59
3.14
10.90
Rental income
Equity Growth
1500
1.37
1.37
2.37
15.13
2011
995
-
500
Total
2013
2012
Rs. in million
Revenue account
Net premium revenue
500

2014
2012
2013
2014
2014
140
120
100
80
60
40
20
-
2011
2012
2013
2014
31
ALFALAH INSURANCE
COMPANY LIMITED
Mr. Nasar us Samad Qureshi
Vision:
Mission:
To be a leading insurer by providing the most

comprehensive yet flexible and cost effective risk
management solutions to our clients backed with
friendly and efficient claims service and to enhance
the Alfalah brand value for the benefit of all
stakeholders.
We undertake to provide world class service with
unmatched security to our clients and help in
increasing awareness about insurance in the
country as well as enhancing public confidence
in the insurance industry in Pakistan.

2014
Premium written
Net premium revenue
Claims expense
Net claims expense
Net commissions / (income)
Management expense
Profit / (Loss) after tax
(Rs in million)
1,331
705
623
411
(96)
240
123
2013
1,231
564
452
317
(94)
214
103
We will introduce new and modern insurance

products comparable with international standards
and will emerge as an innovative insurer providing
complete risk management solutions to the insuring
public in Pakistan.
COMPANY INFORMATION
1. Chairman
H.H. Sheikh Hamdan BinMubarak Bin MohammedAl Nahayan
5. Advisors
Cornelius Lane & Mufti

Salahuddin, Saif & Aslam
(Attorneys at Law)
Mr. Nasar us SamadQureshi
6. Auditors
M/s Ernst & Young Ford

Rhodes Sidat Hyder,
3. Directors
H.H. Sheikh Hamdan BinMubarak Bin MohammedAl Nahayan

H.E. Sheikh Saif BinMohammed Bin Butti
Mr. Khalid Mana SaeedAl Otaiba
Mr. Atif Aslam Bajwa
Mr. Mohammad Yousuf
Mr. Adeel Khalid Bajwa
Mr. Nasar us SamadQureshi
& CFO
32
Mr. Adnan Waheed
Chartered Accountants
7. Head Office
5-Saint Mary Park, Gulberg

III, Lahore.
UAN: 111-786-234
Fax: (042) 35774329
Email: afi@alfalahinsurance.com
Web: www.alfalahinsurance.com
199
ALFALAH INSURANCE COMPANY LIMITED

Balance Sheet
as at 31st December
2014
2013
2012
2011
Rs. in million
Equity
Total
500
500
500
300
300
410
710
300
287
587
300
187
487
300
89
389
456
505
53
1,015
5
394
526
46
966
5
650
460
50
1,160
7
364
420
52
836
6
442
275
338
243
37
2,179
1,838
1,996
1,511
208
102
162
79
Other liabilities
T OTAL EQUITY AND LIABILITIES
Investments
860
786
701
637
Taxation - payments less provision

outstanding claims
265
219
503
238
26
20
22
16
Other assets
736
619
519
463
Fixed assets
74
89
87
76
2,179
1,838
1,996
1,511

TOTAL ASSETS
Current ratio
Break-up value
304
1
3
24
266
1
3
20
192
1
4
16
136
1
4
13
2,000
1,500
1,000
500
2013
2014
Investments
411
317
262
243
Less: Expenses
240
214
196
131

Underwriting result
(96)
150
(94)
127
(96)
92
(71)
81
Investment income
101
78
93
72
Rental income
Other income
2013
(80)
(78)
(4)
16
(6)
151
123
108
76
28
20
10
123
103
98
70
(3)
136
171
73
43
135
50
(10)
135
40
136
171
73

Cash dividend
Stock dividend
56
18
38
(17)
3
-
58
22
43
(21)
3
-
63
18
34
(18)
2
50
Profit before tax

Profit after tax
Other comprehensive loss
APPROPRIATIONS
Dividend
General reserve
2011
2012
2013
2014
80
60
40
20
2014
2011
2012
2013
2012
2013
2014
100
2013
2011
100
Net Premium Revenue
120
2012
58
17
34
(14)
4
-
800
700
600
500
400
300
200
100
140
2011
(89)
150
2014
100
50
(105)
2014
200
Exchange gain
Net Claims
250
2012
Less: Net claims
1000
900
800
700
600
500
400
300
200
100
2011
384
-
200
2013
2011
454
-
300
2012
2013
2012
Rs. in million
564
-
400
2011
2014
705
500
800
700
600
500
400
300
200
100
2012
Revenue account
Net premium revenue
Equity Growth
2,500
2011

2014
160
140
120
100
80
60
40
20
-
2011
2012
2013
2014
33
ALPHA INSURANCE
COMPANY LIMITED
Mr. Jamil Anwar
Vision:
Mission:
With help and involvement of all its Stakeholders

to make Alpha one of the leading General
Insurance Company of the Country with a vibrant
Marketing force and efficient and responsive\
office staff, so as to provide best quality services
to its policyholders.
To work zealously towards attaining these
objectives and be able to compete in the open
market by developing a vibrant field force and
efficient and responsive office staff.

2014
Premium Written
Net Premium Revenue
Claim Expense
Net Claims Expense
Net Commission / (Income)
Management expense
(Rs in million)
220
91
117
54
11
71
20
2013
265
115
62
56
14
76
98
COMPANY INFORMATION
Mr. Jamil Anwar
7. Auditors
M/s. A. F. Ferguson & Co
2. Chairperson
Ms. Nargis Ghaloo
3. Directors
Mr. Maudood Ahmad Lodhi

Mr. Muhammad Javed Khan
Mr. Muhammad Rashid
Mr. Sultan A. Allana
Mr. Atif Saeed Rana
Main Office
Building # 1 - B State Life Square,

I.I. Chundrigar Road, Karachi
Mr. Latif Ahmad Choudhri
Mr. Saleem Abdul Sattar
6. Advisors
M/s. Mansoor Ahmed Khan

& Co
34
ALPHA INSURANCE COMPANY LIMITED

Balance Sheet
as at 31st December
2014
Equity
Total
Other liabilities
2013
Rs. in million
2012
2011
500.00
500.00
500.00
500.00
403.60
199.70
603.30
403.60
180.12
583.72
403.60
80.00
483.60
303.60
44.59
348.19
132.19
89.74
2.38
14.03
238.34
134.20
99.45
4.24
17.70
255.59
171.26
101.98
5.32
16.08
294.64
168.16
68.45
4.97
10.47
252.05
185.06
185.89
158.19
115.22

2014
Revenue account
Net premium revenue
90.91
1.85
115.15
1.09
67.43
(0.36)
74.28
(0.60)
Less: Net claims
53.86
55.81
37.44
51.84
Less: Expenses
71.27
76.17
67.23
54.99
10.61
(42.98)
14.79
(30.53)
5.62
(43.22)
5.43
(38.58)
87.97
158.33
96.87
62.43

Underwriting result
Investment income
3.01
3.10
3.10
3.10
1,028.29
939.53
718.56
64.32
75.85
33.65
19.57
Investments
614.69
587.32
522.52
373.61
6.33
4.13
2.26
1.67
(28.26)
(28.73)
(23.82)
(20.64)
Exchange gain
Profit before tax
2011
Rental income
Other income
1,029.71
2013
2012
Rs. in million

Profit after tax
66.04
133.73
75.31
43.46
23.06
103.20
32.09
4.88
3.55
5.52
(3.32)
(12.97)
19.51
97.68
35.41
17.85
167.50
69.82
34.41
16.56
Deferred tax
23.21
18.97
20.28
14.51

outstanding claims
APPROPRIATIONS
48.85
47.26
82.35
81.39
18.63
22.62
20.85
13.54
Other assets
246.17
260.91
242.68
199.34
Dividend
General reserve
Fixed assets
13.84
15.36
17.20
16.59
1,029.71
1,028.29
939.53
718.56
187.0
167.50
69.82
34.41
17.37
1.05
2.06
11.47

Cash dividend
Stock dividend
59.25
21.46
78.40
11.67
0.48
-
48.47
84.83
66.15
12.84
2.42
-
55.52
52.20
99.99
8.33
0.87
-
69.79
28.81
69.25
7.31
0.70
-

TOTAL ASSETS
Current ratio
Break-up value
39.08
1.12
1.71
14.95
60.87
1.19
1.76
14.46
29.09
1.08
1.94
11.98
700
600
500
400
300
200
100
2011
2012
2013
2014
Investments
2012
2013
2014
600
500
400
300
200
100
2012
2013
2014
2012
2013
2014
2011
60
40
20
2013
2014
2014
80
2012
2013
100
2011
2012
120
80
70
60
50
40
30
20
10
2011
2011
700
140
120
100
80
60
40
20
60
50
40
30
20
10
2011
Net Premium Revenue
Net Claims
Equity Growth
1,200
1,000
800
600
400
200
2011
2012
2013
2014
2011
2012
2013
2014
35
ASIA INSURANCE
COMPANY LIMITED
Mr. Ihtsham Ul Haq Qureshi
Vision:
Mission:
Asia Insurance Company Ltd. aims to be an ideal

Insurance Company with a large equity base; To
provide more opportunities and options for
utilization of funds and to increase profitability
through economies of scale, better resource
mobilization and reduction in operational cost;
To achieve this while providing better service to
our clients and stakeholders.
Provide excellent by way of best risk management
and hassle-free settlement of claims through a
nation-wide network of branches manned by a
sound, dynamic team, ensuring good governance.
(Rs in million)
Premium written
Net premium revenue
Claims expense
Net claims expense
Management expense
2014
2013
305
191
(49)
(42)
(37)
(52)
48
154
70
(60)
(25)
(11)
(26)
20
COMPANY INFORMATION
1. Chairman
Mr. Khalid Rashid
Mr. Ihtsham Ul Haq Qureshi
3. Directors
Mr. Ihtsham ul Haq Qureshi

Mr. Aisam ul Haq Qureshi
Mr. Zain ul Haq Qureshi
Mrs. Nosheen Ihtsham Qureshi
Mr. Khawaja Suhail Iftikhar
Mr. Khalid Rashid
Mr. Shahid Pervez Noor
& CFO
36
Mr. Muhammad Ali Raza
5. Legal Advisor
6. Auditors
Barister Munawar-us-Salam
Cornelius Lane & Mufti
Ilyas Saeed & Company
Chartered Accountant
Main Office
456-K Block, Model Town

Lahore
61
ASIA INSURANCE COMPANY LIMITED

Balance Sheet
as at 31st December
2014
Equity
Revaluation Surplus on Fixed Assets
Total
Other liabilities
2013
Rs. in million
2011
500.00
300.00
300.00
300.00
300.00
119.82
136.06
555.88
300.00
72.31
136.06
508.37
300.00
52.76
136.06
488.82
300.00
42.58
136.06
478.64
32.37
147.39
5.18
184.93
1.15
41.10
83.40
4.48
128.99
-
18.49
28.00
1.92
48.40
13.88
18.41
1.50
33.78
1.27
67.15
29.28
23.14
25.52
3.84
0.06
0.06
812.95
666.69
560.42
539.27
53.81
49.16
62.90
159.88
Investments
2012
228.17
0.06
217.25
179.78
113.38
2.50
1.96

outstanding claims
6.08
20.62
3.96
1.87
28.52
14.92
4.53
3.39
Deferred tax
Other assets
219.90
117.76
77.72
60.67
Fixed assets
276.46
244.49
229.57
200.08
TOTAL ASSETS
812.95
666.69
560.42
176.43
2.71
1.46
18.53
117.10
2.66
1.31
16.95
102.90
3.47
1.15
16.29
600
400
200
2012
2013
2014
Investments
33.70
Less: Net claims
41.95
24.62
10.14
10.92
Less: Expenses
51.98
25.76
18.09
15.80

Underwriting result
36.78
60.26
10.87
9.08
4.66
(3.58)
6.66
0.33
Investment income
33.35
37.79
28.90
24.32
Rental income
Other income
0.74
0.32
0.75
1.25
34.77
26.37
18.77
14.36

Exchange gain
200
150
100
50
2013
2014
68.87
64.49
Profit before tax
59.58
12.07
Profit after tax

APPROPRIATIONS
2012
2013
39.93
20.83
7.30
11.54
1.29
(2.88)
1.88
47.51
19.54
10.18
9.66
69.80
50.26
40.08
30.42
69.80
50.26
40.08
182.97
5.64
1.13
15.95

Cash dividend
Stock dividend
21.97
24.88
27.22
19.26
1.58
-
35.01
27.78
36.63
15.45
0.65
-
34.59
34.74
61.74
15.90
0.34
-
32.39
28.67
46.87
19.75
0.32
-
Net Claims
Net Premium Revenue
250
200
150
20
100
10
50
2014
2011
2012
2013
2014
2011
2014
2012
2013
2014
50
45
40
35
30
25
20
15
10
5
2011
117.32
30
2013
48.43
Dividend
General reserve
40
2012
180
160
140
120
100
80
60
40
20
2012
29.30
250
2011
70.33
50
2011
2011
539.27
580
560
540
520
500
480
460
440
800
2013
2012
Rs. in million
190.98
Equity Growth
1000
2011
Revenue account
Net premium revenue
2014

Current ratio
Break-up value

1
1
1
0
0
2011
2012
2013
2014
2011
2012
2013
2014
37
ASKARI GENERAL INSURANCE

COMPANY LIMITED
Mr. Abdul Waheed
Vision:
Mission:
The vision of askari general insurance company

limited is to be amongst the leading insurance
companies of the country with the clear perception
of upholding the principles of corporate
governance and making agico a profitable and
growth oriented insurance company while creating
insurance awareness and culture.
To become a leading insurance company by
providing client friendly services through highly
motivated team of dedicated professionals and
ensuring progressive return to the shareholders.

2014
Premium written
Net premium revenue
Claims expense
Net claims expense
Management expense
(Rs in million)
1,719
971
931
561
(60)
260
163
2013
1,605
842
749
465
(51)
221
119
COMPANY INFORMATION
1. Chairman
Lt Gen Khalid Rabbani (Retd)
2. Chief Executive Officer Mr. Abdul Waheed

3. Directors
Maj Gen Syed Taqi Naseer

Rizvi (Retd)
Brig Irfan Azam (Retd)
Brig M. Ibrahim Khan (Retd)
Mr. Farrukh Iqbal Khan
Mr. Abdul Hai Mahmood Bhaimia
Mr. M. A. Ghazali Marghoob
Mr. Shahid Hussain Syed
Mr. Faizan Zafar
5. Chief Financial Officer Mr. Suleman Khalid
40
6. Legar Advisor
7. Auditors
Hassan Kaunain Nafees

KPMG Taseer Hadi & Co.
Main Office
3rd Floor, AWT Plaza, the Mall

Rawalpindi
392
ASKARI GENERAL INSURANCE COMPANY LIMITED

Balance Sheet
as at 31st December
2014
Equity
Total
Other liabilities
2013
Rs. in million
500
500
500
388
392
780
388
230
618
324
184
508
308
124
432
357
895
92
1,344
15
281
926
100
1,308
11
264
767
53
1,084
10
303
465
42
810
9
344
282
615
281
19
13
2,498
2,238
2,226
1,545
134
120
483
131
1,014
864
605
503
47
48
50
51

Investments
2011
1,000
15
2012
Deferred tax

outstanding claims
147
135
124
157
59
57
36
32
Other assets
1,042
939
846
617
Fixed assets
49
67
77
49
2,498
2,238
2,226
1,545

TOTAL ASSETS
Current ratio
Break-up value
607
1.85
3
20
612
2.05
4
16
565
1.64
4
16
308
1.52
4
14
1000
2,000
800
1,500
600
1,000
400
2012
2013
2014
2011
Investments
2012
2013
600
1000
500
800
400
600
300
400
200
200
2012
700
-
633
-
Less: Net claims
561
465
373
328
Less: Expenses
260
221
195
182

Underwriting result
60
210
51
207
34
166
19
142
Investment income
52
126
65
55
Rental income
Other income
22
23
22
14
(158)
(147)
(157)
(130)
Exchange gain
(8)
(57)
(79)
(63)
202
150
88
79
39
31
13
14
Profit after tax
164
119
75
65
APPROPRIATIONS
160
109
49
37
65
15
54
2
2
3
68
15
54
160
109
49
55
14
26
6
3
65
53
11
28
5
2
15
52
10
29
3
2
54
Profit before tax

Dividend
General reserve

Cash dividend
Stock dividend
Net Claims
2014
2011
2013
2014
2012
2011
2012
2013
58
17
27
6
4
1200
1000
800
600
400
200
2013
2014
2011
2012
2013
Net Premium Revenue
2011
2014
2012
2013
2014
180
160
140
120
100
80
60
40
20
100
2011
2011
842
-
1200
2013
2012
Rs. in million
971
-
600
500
400
300
200
100
200
500
2014
Revenue account
Net premium revenue
Equity Growth
2,500
2011

2014
80
70
60
50
40
30
20
10
-
2011
2012
2013
2014
41
ATLAS INSURANCE LIMITED
Mr. Arshad P. Rana
Vision:
Mission:
A first class insurance company that provides the

highest level of quality service to its policyholders.
To stay in the forefront of innovation and
technological developments, continue to achieve
corporate success, provide its policyholders quality
products and service to their satisfaction, promote
interest of all the stakeholders - employees,
shareholders, reinsurers and business associates
equitably fulfilling demand of overall social
responsibility.

2014
Premium written
Net premium revenue
Claims expense
Net claims expense
Management expense
1,651
878
302
211
(50)
311
545
(Rs in million)
2013
1,400
756
413
163
(55)
305
456
COMPANY INFORMATION
1. Chairman
Mr. Yusuf H. Shirazi
Mr. Arshad P. Rana
3. Directors
Mr. Yusuf H. Shirazi

Mr. Feroz Rizvi
Mr. Isphanyar M. Bhandara
Mr. Ali H. Shirazi
Mr Frahim Ali Khan
Mr. Jawaid Iqbal Ahmed
Mr. Muhammad Afzal
Mr. Rashid Amin
6. Legal Advisors
Mohsin Tayebaly & Co.

Agha Faisal Barrister at Law
7. Auditors

Sidat Hyder
Chartered Accountants.
42
8. Registered /
Head Office
3-Bank Square, Shahrah-eQuaid-e-Azam,

Lahore.
Tel: (92-42) 37320542-43,
37322271 & 73, 37310658
Fax: (92-42) 37234742
Email: info@atlasinsurance.com.pk
Web: www.atlasinsurance.com.pk
9. No of Employees
162
ATLAS INSURANCE LIMITED

Balance Sheet
as at 31st December
2014
2013
2012
2011
Rs. in million
Equity
Total
Other liabilities
Investments
800.00
800.00
701.61
965.89
1,667.50
637.83
800.20
1,438.03
500.00
531.53
442.94
666.89
566.98
1,198.42 1,009.92
276.99
718.80
61.43
1,057.23
-
309.53
732.85
62.93
1,105.30
-
200.91
775.41
68.20
1,044.52
-
259.51
443.26
46.26
749.03
-
564.72
430.10
432.25
296.49
54.57
41.30
27.48
22.65
3,344.02
3,014.74
433.17
162.16
282.01
54.59
0.19
0.16
0.17
0.12
1,868.60
1,550.37
Deferred tax
800.00
2,702.67 2,078.09
1,255.88 1,089.26
17.41
20.26
8.94
10.24

outstanding claims
179.69
236.46
121.25
153.48
50.61
63.67
67.32
22.90
Other assets
742.50
925.52
900.67
700.59
Fixed assets
51.85
56.14
66.43
46.91
TOTAL ASSETS
3,344.02
459.07
1.51
2.01
23.77
3,014.74
2,702.67 2,078.09
543.20
1.70
2.10
22.55
755.68
603.62
591.29
Less: Net claims
210.53
163.42
133.24
153.29
Less: Expenses
311.04
304.55
229.95
227.49

Underwriting result
(49.90)
406.71
(55.17)
342.89
(54.89)
295.32
(43.08)
253.59
Investment income
294.68
246.40
180.69
133.57
6.75
6.52
5.45
5.32
Rental income
Other income
643.29
1.97
2.26
22.55
330.01
1.57
2.06
22.80
2012
2013
467.76
400.08
101.41
98.92
Profit after tax
544.97
455.97
366.35
301.16
APPROPRIATIONS
456.14
365.84
297.29
243.22
Dividend
General reserve
318.92
63.78
77.00
(3.42)
456.28
212.61
106.31
43.00
3.76
365.68
177.18
88.59
36.00
(3.95)
297.82
147.65
73.82
21.00
242.47
544.83
456.14
365.82
301.91

23.97
62.04
35.41
(5.68)
7.77
Cash dividend
318.92
Stock dividend
63.78
21.63
60.34
40.30
(7.30)
7.15
212.61
106.31
22.07
60.69
38.10
(9.09)
6.89
177.18
88.59
25.93
50.93
38.47
(7.29)
6.80
147.65
73.82
800
600
100
400
50
200
2011
100
2012
2013
2014
2013
2014
400
400
200
2012
500
300
300
2011
2011
2014
500
300
2013
600
400
2014
2012
2013
Net Premium Revenue
1,000
150
2014
500
2012
146.50
587.57
Net Claims
500
2011
172.45
131.60
200
Investments
244.68
690.82
1,000
2,000
1,800
1,600
1,400
1,200
1,000
800
600
400
200
284.10
145.85
1,500
2011
32.99
(25.38)
2,000
2014
12.11
(25.80)
Profit before tax
3,000
2013
25.26
(33.50)
250
2012
17.87
(35.20)
Exchange gain
2,000
2011
2011
878.38
4,000
1,000
2013
2012
Rs. in million
Revenue account
Net premium revenue
Equity Growth
2014

Current ratio
Break-up value

200
200
100
100
2011
2012
2013
2014
2011
2012
2013
2014
43
CENTURY INSURANCE
COMPANY LIMITED
Mr. Mohammad Hussain Hirji
Vision:
To be an organization known for integrity and

ethical behavior and fully dedicated to our Clients,
Business Partners, Shareholders and Employees,
providing exceptional quality service and
committed to achieving excellence in all areas of
our operations.
Our motto:
Mission:
"Customer satisfaction is
management's top
priority"
(Rs in million)
2014
Premium Written
Net Premium Revenue
Net Claims Expense
Net Commission Expense/ (Income)
Profit after tax
755
389
202
(18)
142
2013
667
322
159
(9)
147
To become a company of choice for our

valued Clients, Stockholders and Employees.
To maximize growth and profitability of the
Company and provide excellent financial
returns to its valued Shareholders.
The Company culture to be known for
Integrity and Ethical behavior.
The Company to be known as one of the best
insurance companies of the country.
COMPANY INFORMATION
1. Chairman
Mr. Iqbal Ali Lakhani
Mr. Mansoor Ahmed
2. Cheif Executive
7. Auditors
M/s. Ernst & Young Ford Rhodes

Sidat Hyder
3. Advisor
Mr. Sultan Ali Lakhani
4. Directors
Mr. Iqbal Ali Lakhani

Mr. Zulfiqar Ali Lakhani
Mr. Amin Mohammed Lakhani
Mr. Tasleemuddin A. Batlay
Mr. A. Aziz H. Ebrahim
Mr. Sadrudin Ismail Mohamed
(effective from January 23, 2015)
5. Chief Financial Officer Mr. Sabza Ali Pirani
44
Lakson Square, Building No. 2,

Sarwar Shaheed Road,
Karachi- 74200
9. Head Office
11th Floor, Lakson Square,

Building No. 3, Sarwar Shaheed
Road, Karachi- 74200
146
CENTURY INSURANCE COMPANY LIMITED

Balance Sheet
as at 31st December
2014
Equity
Total
Other liabilities
2013
Rs. in million
2012
2011
500.00
500.00
500.00
500.00
457.24
728.07
1,185.31
457.24
654.36
1,111.60
457.24
565.71
1,022.95
457.24
495.04
952.28
123.62
246.26
137.31
221.97
145.79
181.54
159.96
173.17
35.32
405.20
30.58
389.86
28.40
355.73
23.08
356.21
284.44
236.09
232.45
163.95
0.98
0.78
1.77
1.37
1,876.72
1,738.92
245.20
105.28
90.51
97.52
1,095.86
1,112.66
998.10
859.88
4.12
3.52
2.64
2.21
1,612.11 1,473.22

Investments
Deferred tax
outstanding claims
60.86
63.27
87.13
103.57
23.78
21.30
18.91
16.42
Other assets
398.52
385.80
370.86
344.90
Fixed assets
48.38
47.09
43.96
48.72
1,876.72
1,738.92

2014
1,612.11 1,473.22

Current ratio
Break-up value
294.75
1.72
1.58
25.92
179.58
1.48
1.56
24.31
169.28
1.45
1.58
22.37
221.30
1.68
1.55
20.83
388.50
321.67
268.22
225.19
Less: Net claims
201.95
159.31
112.04
80.50
Less: Expenses
96.99
88.21
81.21
70.46

Underwriting result
(18.27)
107.83
(8.84)
82.99
(8.61)
83.58
(13.10)
87.33
Investment income
141.02
149.39
116.07
23.24
Rental income
Other income
5.88
5.26
8.22
10.25
(96.28)
(86.89)
(78.47)
(67.46)
50.62
67.76
45.82
(33.97)
158.45
150.75
129.40
53.36
16.08
3.42
13.15
17.01
Profit after tax
142.37
147.33
116.25
36.35
APPROPRIATIONS
281.33
192.68
122.64
131.36
68.59
57.16
45.72
45.72

Exchange gain
Profit before tax
Dividend
General reserve
1,500
1,000
500
2012
2013
2014
Net Claims
250
800
200
600
150
400
100
200
50
2012
2013
2014
2011
2012
2013
2012
2013
281.33
192.68
122.64
51.98
36.65
24.97
(4.70)
3.11
68.59
-
49.53
45.80
27.42
(2.75)
3.22
57.16
-
41.77
43.34
30.28
(3.21)
2.54
45.72
-
35.75
16.14
31.29
(5.82)
0.79
45.72
-
2014
2014
Net Premium Revenue
2011
2012
2013
2014
160
140
120
100
80
60
40
20
2011
355.04
100

300
1,000
(0.65)
45.07
200
50
2014
0.49
46.21
300
100
2013
1.52
58.68
400
200
2012
0.07
68.66
500
150
2011
Investments
1,200
2011

Cash dividend
Stock dividend
250
1,400
1,200
1,000
800
600
400
200
2011
Equity Growth
2,000
2011
Revenue account
Net premium revenue

TOTAL ASSETS
2013
2012
Rs. in million
80
60
40
20
2011
2012
2013
2014
2011
2012
2013
2014
45
THE COOPERATIVE INSURANCE

SOCIETY OF PAKISTAN LIMITED
Sh. Anwar-ul-Haq Piracha
Vision:
The Cooperative Insurance Society of Pakistan

Ltd., is an apex Cooperative Society registered
under the Cooperative Societies Act, 1925, on
August 06, 1949, and is engaged in general
insurance business. The area of operation of the
Society is whole of Pakistan.
(Rs in million)
Premium Written
Net Premium Revenue
Claims expense
Net Claims Expense
Net Commission (Income)
Management expense
(Loss)/Profit after tax
2014
2013
3
2
0
0
0
7
1
3
2
0
0
0
7
1
COMPANY INFORMATION
1. Chairman
Sh. Anwar-ul-Haq Piracha
2. Senior Vice Chairman
Ch. Akhter Mehmood
3. Directors
Col. (R) Muhammad Jamil

Rai Ijaz Ahmed Khan
Mr. Farooq Azam
Mr. Hassan Zaheer
Mr. Nadeem Akram Khan
Mr. Muhammad Asif Inayat
Shahani
4. Auditors
Hameed Khan & Co
5. Legal Advisor
Mr. Mohammad Hanif Khan Niazi

Advocate
46
23- Shahrah-e-Quaid-e-Azam,
Lahore
7. Head Office
Co-operative Insurance Building,

23- Shahrah-e-Quaid-e-Azam,
P.O. Box No. 147, Lahore.
Ph: 37356537, 37352306,
37242798
Fax: 042-37352794
Email: Coinsopl@live.com.
26
THE COOPERATIVE INSURANCE SOCIETY OF PAKISTAN LIMITED

Balance Sheet
as at 31st December
2014
Equity
Total
Other liabilities
2013
Rs. in million
2012
2011
300.00
300.00
300.00
300.00
300.00
17.57
317.57
300.00
16.22
316.22
300.00
15.43
315.43
300.00
15.11
315.11
0.35
1.47
1.82
14.59
0.26
1.49
1.75
15.65
0.24
1.30
1.54
16.69
0.81
1.86
2.67
4.44
2.71
2.82
2.41
2.41
0.28
0.28
1.00
Surplus on revaluation of fixed assets
1,672.02
1,673.67
1,675.37
611.97
2,008.99
2,010.39
2,012.44
936.60
10.53
10.49
10.93
12.15

Investments
7.50
7.69
7.66
5.51
Deferred tax

outstanding claims
0.26
0.16
0.24
0.36
Other assets
2.60
1.20
0.96
2.04
Fixed assets
1,988.10
1,990.85
1,992.65
916.54
TOTAL ASSETS
2,008.99
2,010.39
2,012.44
936.60
2,123.62
2,057.85
2,044.12
960.97
9.79
3.93
6.33
10.59
8.33
3.48
6.36
10.54
8.24
3.26
6.38
10.51
10.97
4.41
2.97
10.50

Current ratio
Break-up value
2,000
1,500
1,000
500
2013
2014
1.60
-
3.35
-
5.25
-
Less: Net claims
0.32
0.28
0.69
(0.04)
Less: Expenses
6.83
6.76
6.75
7.80
0.25
(5.19)
0.18
(5.62)
0.19
(4.28)
0.74
(3.25)
Investment income
3.77
3.15
3.33
2.91
Rental income
5.15
5.23
3.90
3.13

Underwriting result
Other income
0.01
0.03
0.12
(1.76)
(1.80)
(0.74)
6.90
6.63
5.46
5.42
Profit before tax
1.71
1.01
1.18
2.17
0.36
0.22
(0.14)
0.27
Profit after tax
1.35
0.79
1.32
1.90
7.65
0.20
7.66
1.00
0.33
5.16
(1.07)
0.47
0.34
0.20
1.33
0.47
9.25
8.24
7.65
6.59

14.48
61.09
309.05
11.31
0.05
Cash dividend
Stock dividend
-
17.50
49.38
422.50
11.25
0.03
-
20.60
39.40
201.49
5.67
0.04
1.00
-
(0.76)
36.19
148.57
14.10
0.06
-
Exchange gain
APPROPRIATIONS
8.24
Cumulative effect of change in accounting policy Dividend
General reserve
0.34
0.4
-0.4
Net Premium Revenue
(0)
2012
2013
2014
2011
2012
2013
2014
11
11
10
10
2011
2012
2013
2011
2014
2012
2013
2014
2
2
2
1
1
1
1
1
0
0
12
6
5
4
3
2
1
1.0
12
2014
2011
0.02
2013
2013
2012
Rs. in million
(2.04)
Net Claims
13
2012
2.21
-
0.6
2011
Investments
9
8
7
6
5
4
3
2
1
2011
Revenue account
Net premium revenue
2.0
318
318
317
317
316
316
315
315
314
314
2012
2014
Equity Growth
2,500
2011

1.6
1.2
0.8
0.4
2011
2012
2013
2014
2011
2012
2013
2014
47
CRESCENT STAR
INSURANCE LIMITED
Mr. Naim Anwar
Vision:
n
n
Mission:
To serve with excellence.

Excellence achieved through our corporate
mission.
The brand name of CSI with a vision to
expand with prudent approach and provide
the Insurance Service to Pakistan Industry
on sound footing.
First and foremost to secure the interest of
our policy holders by adopting proper risk
management techniques, prudent financial
planning and maintaining reinsurance
arrangements with world-class reinsurers.
To ensure profitability to our reinsurers who
afford us underwriting capacity.
To recognize human resources as the key
element in progress and to provide our
officers and field force due recompense for
their efforts in building up the company.
To generate operational profits and dividend
return for our shareholders of the Company.
(Rs in million)
2014
Premium written
Net premium revenue
Claims expense
Net claims expense
Management expense
2013
237
136
28
25
23
69
(36)
COMPANY INFORMATION
1. Chairman &
Mr. Naim Anwar
Chief Executive Officer
2. Directors
Mr. Naim Anwar

Mr. Sakib Berjees
Mr. Mudassar Zubair Mirza
Syed Adnan Ali Zaidi
Syed Abid Raza
Mr. Jehangir Bashir Nawaz
Mr. Hanif Daud *subject to SECP
approval
Mr. Khuzaima Hakimi
4. Chief Financial Officer Mr. Malik Mehdi Muhammad

5. Advisors
48
Mr. Jameel Khan
6. Auditors
M/s. Rahman Sarfaraz Rahim

Iqbal Rafiq
7. Registered /
Main Office
2nd Floor, Nadir House

I.I.Chundrigar Road
P.O.Box No. 4616, Karachi
89
85
56
27
14
4
31
1
CRESCENT STAR INSURANCE LIMITED

Balance Sheet
as at 31st December
2014
2013
2012
2011
Rs. in million
Equity
Total
Other liabilities
Investments
650.00
650.00
350.00
350.00
420.48
(68.08)
352.40
121.00
(32.25)
88.75
121.00
(54.83)
66.17
121.00
(36.66)
84.34
43.64
115.87
32.37
27.97
0.96
61.30
-
31.09
25.52
3.12
59.73
-
36.83
30.28
4.01
71.12
0.03
159.54
62.48
14.35
28.59
25.39
0.42
0.42
0.42
0.42
4.39
6.11
2.68
6.56
5.90
15.56
6.64
8.15
6.09
0.40
Investment income
Rental income
Other income
5.37
4.04
4.36
5.32
Other assets
241.52
100.56
45.17
69.51
Fixed assets
17.27
11.10
39.08
41.80
574.84
162.13
2.52
1.63
8.38
154.91
181.27
151.31
189.52
191.05
72.73
2.54
1.86
7.33
31.97
1.53
2.66
5.47
54.98
1.88
2.40
6.97
Investments
2012
(13.34)
(34.47)
2.07
(17.84)
2.22
0.60
0.32
0.79
1.47
(18.16)
1.43
APPROPRIATIONS
(79.62)
(81.09)
(62.93)
(64.36)
Dividend
General reserve
-
(62.93)

18.47
(26.30)
50.73
16.80
(0.85)
Cash dividend
Stock dividend
-
25.25
2.63
55.92
7.87
0.12
-
28.69
(44.30)
48.77
6.54
(1.50)
-
30.50
2.37
33.87
9.80
0.12
-
160
140
120
100
80
60
40
20
2014
2011
2012
2013
2014
150
-10
100
-20
(20)
50
-30
(30)
-40
(40)
2012
2013
2014
2013
2014
(10)
2011
2012
10
2014
Net Premium Revenue
2011
2013
(81.09)
250
2012
(79.62)
200
2011
Balance unappropriated profit at end of year (115.45)
300
(53.55)
1.36
Net Claims
2013
(24.40)
(35.83)
30
25
20
15
10
5
2011
(4.05)
Profit after tax
Equity Growth
400
350
300
250
200
150
100
50
2014
5.38
(19.12)
164.82
600
500
400
300
200
100
0
0.81
(31.30)
16.54
19.72
(31.93)
24.10
17.13
3.31
(63.50)
Exchange gain
26.97
13.94
2013
22.89
19.07
16.27
23.01
2012

Underwriting result
86.06
13.54
2011
18.37
20.40
Profit before tax
13.54

Current ratio
Break-up value
11.76
19.99
10.46
-
13.54
TOTAL ASSETS
14.08
8.66
-
13.54
60.23
-
31.18
5.37
-

outstanding claims
40.99
-
69.11
4.14
Deferred tax
55.76
25.17
181.27
136.24
2011
Less: Expenses
154.91
2013
2012
Rs. in million
Less: Net claims
164.82
2014
Revenue account
Net premium revenue
574.84
183.93

2011
2012
2013
2014
2011
2012
2013
2014
49
EAST WEST INSURANCE

COMPANY LTD.
Mr. Naved Yunus
Vision:
Mission:
To be amongst most trusted insurance security of

the country by providing protection to our insured
in most effective basis ensuring prosperity for its
stakeholders and growth with human force.
To ensure most effective management for sustained
growth of the company.
To provide reliable secure protection for the policy
holders.
To retain sound position of the company in industry
while working with dedication & innovation.
To maintain continuous pursuit for cost
effectiveness, enhanced productivity for ensuring
financial health of the organization, to take care of shareholder's

aspiration continuously.
To inculcate value added system all cross the organization for
ensuring trustworthy relationship with its clients as well as
shareholders.
(Rs in million)
Premium Written
Net Premium Revenue
Claims Expense
Net Claims Expense
Management Expense
2014
2013
1,420
760
504
305
167
148
142
1,124
623
456
254
136
116
126
COMPANY INFORMATION
1. Chairman
Chief Justice ( R )
Mian Mahboob Ahmad
Mr. Naved Yunus
3. Directors
Mr. Javed Yunus

Mr. Pervez Yunus
Mr. Maheen Yunus
Mr. Umeed Ansari
Mr. Ahsan Mahmood Alvi
Mr. Tulu Javed Yunus
Mr. Shabbir Ali Kanchwala
5. Legal Advisors
M/s Khalid Law Associate
52
6. Auditors
M/s Grant Thornton

Anjum Rahman
(Chartered Accountants)
27, Regal Plaza, Jinnah

Road, Quetta.
8. Main Office
B-401-404, 4th Floor

Lakson Square Building -3
Sarwar Shaheed Road Karachi
Ph: 0213-5630400-11
134
EAST WEST INSURANCE COMPANY LTD.

Balance Sheet
as at 31st December
2014
Equity
Total
Other liabilities
2013
2012
Rs. in million
2011
500.00
500.00
500.00
500.00
401.50
263.41
664.91
365.00
194.28
559.29
331.82
134.28
466.10
301.66
96.39
398.04
208.38
285.23
200.94
211.06
118.93
186.97
54.82
199.55
64.05
557.66
13.07
31.97
443.96
11.26
11.16
317.06
2.88
15.65
270.01
4.25
158.79
58.26
47.34
38.53
4.53
3.22
1.97
3.12
1,398.95
1,075.99
835.35
713.96
82.48
35.82
62.20
52.57
679.40
503.06
309.80
243.54
50.15
48.36
44.62

Investments
Deferred tax
outstanding claims
136.23
149.43
94.83
46.57
40.39
21.80
34.11
22.37
Other assets
357.11
261.22
231.59
238.16
Fixed assets
53.20
56.31
56.05
108.06
1,398.95
1,075.99
TOTAL ASSETS
2.15
2.69
835.35
713.96

Current ratio
Break-up value
204.1270 184.0550 349.3220 240.8370

1.55
1.70
3.08
3.50
2.10
1.92
2.07
1.79
16.56
15.32
14.05
13.20
1,000
500
2011
2012
2013
2014
Investments
800
700
600
500
400
300
200
100
-
2011
2012
2012
2013
467.72
387.69
Less: Net claims
305.39
253.99
179.31
153.90
Less: Expenses
148.29
115.96
92.20
78.17

Underwriting result
167.09
139.47
135.72
116.90
83.25
112.96
73.81
81.80
97.17
100.91
36.78
31.36
6.06
2.56
0.42
0.40
Investment income
Rental income
Other income
2013
2014
2011
2012
2013
5.53
1.92
3.75
3.97
(76.47)
(73.72)
(69.29)
(68.46)
32.30
31.68
(28.34)
(32.74)
171.77
148.58
84.62
49.07
Exchange gain
Profit before tax
Profit after tax
APPROPRIATIONS
Transferred (to) /from General Reserve
Dividend
General reserve

Cash dividend
Stock dividend
2014
2011
2012
29.64
22.21
16.19
13.12
142.13
126.37
68.43
35.95
94.28
20.40
(25.00)
8.59
2.20
36.50
36.50
34.29
33.18
33.18
30.17
25.14
73.00
66.36
30.17
25.14
163.41
94.29
33.66
21.60
40.17
18.69
19.51
21.98
3.54
36.50
36.50
800
700
600
500
400
300
200
100
-
2013
2014
160
140
120
100
80
60
40
20
-
2011
2012
2013
40.80
20.30
18.63
21.80
3.46
33.18
33.18
38.34
14.63
19.71
17.80
2.06
30.17
39.70
9.27
20.16
19.04
1.19
25.14
Net Premium Revenue
2011
2014
90
80
70
60
50
40
30
20
10
-
2011
622.57
350
300
250
200
150
100
5
2011
2013
2012
Rs. in million
760.24
Net Claims
700
600
500
400
300
200
100
-
2014
Revenue account
Net premium revenue
Equity Growth
1,500

2012
2013
2014
2014
80
70
60
50
40
30
20
10
-
2011
2012
2013
2014
53
EFU GENERAL
INSURANCE LIMITED
Mr.Hasanali Abdullah
Vision:
To continue our journey to be better than the best.
Mission:
To provide services beyond expectation with a

will to go an extra mile. In the process, continue
to upgrade technology, human resource and
reinsurance protection.

2014
Premium written
Net premium revenue
Claims expense
Net claims expense
Management expense
(Rs in million)
14,514
6,532
5,835
2,973
761
1,482
1,829
2013
13,882
6,342
3,559
3,406
789
1,375
1,392
COMPANY INFORMATION
1. Chairman
2. Managing Director &

Chief Executive
3. Directors
Mr. Rafique R.Bhimjee

Mr. Abdul Rehman Haji Habib
Mr. Jahangir Siddiqui
Mr. Muneer R. Bhimjee
Mr. Taher G. Sachak
Mr. Ali Raza Siddiqui
Mr. Mohammed Iqbal Mankani
4. Company Secretary &

CFO
Mr. Altaf Qamruddin Gokal
5. Legal Advisor
54
Mr. Mohammad Ali Sayeed
6. Auditors

Sidat Hyder
Chareterd Accountants
Dodhy Building, 2nd Floor

52 -E, Jinnah Avenue
(Blue Area) Islamabad
8. Main Office
EFU House
M.A Jinnah Road Karachi
1,165
EFU GENERAL INSURANCE LIMITED

Balance Sheet
as at 31st December
2014
Equity
2,000.00

Total
Other liabilities
Investments
2013
Rs. in million
1,500.00
2012
2011
1,500.00 1,500.00
1,600.00 1,250.00 1,250.00 1,250.00

11,511.00 10,658.00 9,881.00 8,746.00
13,111.00 11,908.00 11,131.00 9,996.00
5,652.00
6,365.00
6,622.00
6,118.00
8,866.00 6,303.00
5,507.00 5,147.00
296.00
288.00
226.00
234.00
12,313.00 13,028.00 14,599.00 11,684.00
117.00
86.00
88.00
103.00
3,078.00
3,349.00
608.00
568.00
2,708.00 2,161.00
531.00
434.00
29,227.00 28,939.00 29,057.00 24,378.00

1,521.00
2,083.00
3.00
3.00
3.00
3.00
213.00
230.00
207.00
220.00
Deferred tax
outstanding claims
3,390.00
4,138.00
562.00
568.00
Other assets
6,971.00
6,286.00
Fixed assets
920.00
860.00
6,560.00 4,043.00
567.00
489.00
5,775.00 4,772.00
2014
2013
2012
Rs. in million
2011
Revenue account
Net premium revenue
6,532.00
6,341.00
6,009.00 6,224.00
57.00
Less: Net claims
2,973.00
3,406.00
3,297.00 3,707.00
Less: Expenses
1,482.00
1,375.00
1,285.00 1,193.00

Underwriting result
761.00
1,316.00
789.00
771.00
748.00
679.00
687.00
694.00
Investment income
915.00
772.00
851.00
185.00
Rental income
119.00
101.00
98.00
87.00
Other income
550.00
523.00
525.00
134.00
(638.00)
(556.00)
(545.00)
(506.00)
11.00
6.00
4.00
946.00
851.00
935.00
244.00
148.00
2,262.00
1,623.00
1,614.00
842.00
433.00
231.00
49.00
281.00
1,829.00
1,392.00
1,565.00
561.00
1,518.00
10.00
625.00
583.00
40.00
469.00
(322.00)
Exchange gain
1,670.00 1,758.00
15,647.00 14,771.00 13,404.00 12,333.00

Profit before tax

Profit after tax
APPROPRIATIONS
1,645.00
Other comperhensive income
34.00
Dividend
1,010.00
General reserve
500.00
156.00
650.00
200.00
(500.00)
760.00
1,510.00
1,275.00
669.00
(344.00)
29,227.00 28,939.00 29,057.00 24,378.00
1,645.00
1,519.00
583.00

45.51
28.00
22.69
11.65
11.43
Cash dividend
1,010.00
Stock dividend
-
53.71
21.95
21.68
12.44
11.14
625.00
-
54.87
26.04
21.38
12.45
12.52
469.00
-
59.56
9.01
19.17
11.04
4.49
156.00
-
871.00

TOTAL ASSETS
Current ratio
Break-up value
2,544.00
1.27
2.23
81.94
1,968.00
1.19
2.43
95.26
Net Claims
Equity Growth
30,000
26,000
24,000
22,000
2011
2012
2013
2014
2011
Investments
2012
2013
2014
1,500
5,800
5,600
2011
500
2014
2012
2013
2014
2011
2012
2013
2011
2014
2012
2013
2014

2,000
1,500
1,000
800
600
400
200
1,000
2013
6,000
2,000
2012
6,200
2,000
1,800
1,600
1,400
1,200
1,000
2,500
2011
6,400
18,000
16,000
14,000
12,000
10,000
8,000
6,000
4,000
2,000
Net Premium Revenue

6,600
4,000
3,500
3,000
2,500
2,000
1,500
1,000
500
14,000
12,000
10,000
8,000
6,000
4,000
2,000
28,000
20,000
1,900.00 1,675.00
1.16
1.19
2.61
2.44
89.05
79.97
500
(500)
2011
2012
2013
2014
2011
2012
2013
2014
55
EXCEL
EXCEL INSURANCE
COMPANY LIMITED
Mr. Muhammad Azhar Khan
Values:
Mission:
The vision of Excel Insurance Company Limited

is to become one of the preferred insurance
companies of the country by providing insurance
services par excellence to its customers resulting
in peace of mind to its clients.
The mission of Excel Insurance Company Limited
is:
n To become the most preferred insurer of clients
by providing outstanding risk coverage.
n To provide a congenial environment to
employees to attract the best human Resource
in the industry.
n To consistently offer high return on capital to
company's shareholders.
(Rs in million)
2014
Premium written
Net premium revenue
Net claims expenses
4
2
1
1
5
2013
7
5
5
1
5
COMPANY INFORMATION
1. Chairman
Mr.Younus Haji Latif
5. Legal Advisor
Mr. Faysal Shahzad
Mr. Muhammad Azhar Khan
6. Auditors
M/s. Riaz Ahmed & Company
3. Directors
Mr. Ubaid Amanullah

Mrs. Shagufta Ghulam
Mr. Muhammad Irfan Khalique
Mr. Sohail Ahmed
Mr. Syed Sajjad Ali
38/C-1, Block -6, P.E.C.H.S

Karachi -754000, Pakistan
UAN (992-21) 111-777-666
Fax: (92-21) 454-8076
E-mail: eicl@cyber.net.pk
4. Company Secretary &

CFO
Mr. Hanif Siddique
56
EXCEL INSURANCE COMPANY LIMITED

Balance Sheet
as at 31st December
2014
2013
2012
2011
Rs. in million
Equity
Total
300.00
300.00
300.00
300.00
300.00
15.62
315.62
300.00
8.87
308.87
300.00
5.09
305.09
300.00
(26.35)
273.65
10.17
1.77
0.19
12.12
-
10.09
3.11
0.25
13.45
0.43
4.63
7.47
0.25
12.35
0.68
2.50
7.79
0.66
10.95
0.68
3.58
5.29
3.17
4.52
331.32
328.04
321.29
289.80
5.03
6.09
79.52
24.34
Other liabilities
Investments
312.25
305.75
197.00
202.22
Deferred tax
0.94
1.41
0.79
0.20

outstanding claims
1.25
1.38
2.33
1.55
1.56
Other assets
9.58
10.60
37.41
54.68
Fixed assets
2.26
2.81
4.24
5.25
331.32
328.04
321.29
289.80
2.12
1.15
1.05
10.52
2.69
1.17
1.06
10.30
111.46
15.29
1.05
10.17
73.55
11.48
1.06
9.12

TOTAL ASSETS
Current ratio
Break-up value
320
300
280
2012
2013
2014
2011
Investments
300
250
200
150
100
50
2012
2013
2011
Revenue account
Net premium revenue
2.39
-
4.64
(0.80)
6.72
6.02
Less: Net claims
0.43
4.87
4.76
1.76
Less: Expenses
6.72
5.73
5.53
5.50
(0.39)
(4.36)
(0.88)
(5.88)
0.51
(4.08)
1.85
(3.09)
38.57
28.85
52.94
4.36
(25,145)
1,810
(8,332)
(7,435)

Underwriting result
Investment income
Share loss/profit from associate
Rental income
Other income
2012
2013
2014
2012
2013
0.05
1.19
0.20
(2.90)
(18.19)
(16.77)
(9.21)
Exchange gain
37.89
10.71
37.36
(4.65)
Profit before tax
8.38
6.63
33.28
(7.74)
3.54
1.99
1.85
1.56
Profit after tax
4.84
4.63
31.43
(9.30)
APPROPRIATIONS
8.87
4.98
(26.46)
32.84
Dividend
General reserve
1.92
0.74
1.92
15.62
0.74
8.87
4.97
50.00
(26.46)

17.98
202.51
280.84
(16.31)
0.16
Cash dividend
Stock dividend
-
104.96
99.78
123.49
(18.97)
0.15
-
70.83
467.71
82.29
7.59
1.05
-
29.24
(154.49)
91.36
30.73
(0.31)
50.00
2014
2011
Net Premium Revenue
2012
2013
2014
2011
2014
(5)
(10)
(15)
50.00
8
7
6
5
4
3
2
1
-
2012
2013
2014
35
30
25
20
15
10
5
2011
2.22
Net Claims
90
80
70
60
50
40
30
20
10
2011
2012
350
2013
Rs. in million
6
5
4
3
2
1
320
310
300
290
280
270
260
250
2011
2014
Equity Growth
340
260

60
50
40
30
20
10
2011
2012
2013
2014
2011
2012
2013
2014
57
HABIB INSURANCE
COMPANY LIMITED
Mr. Ali Raza D. Habib
Vision:
Mission:
In Insurance, as also in Banking, Habib is

committed to its time honoured tradition of servin
the Nation by extending a wide range of insurance
products offering maximum protection, backed
up by matchless service with prompt claim
settlement as its utmost priority. With high quality
service to all its customers, the Company will
also strive to continue to give its shareholders a
consistent return on their investment.
Habib will continue to pursue its policy of
progressive yet cautious underwritting carving its
rightful share in the Insurance market without
compromising its principles on underwriting and
claim settlement. It will continue to maintain its
selective approach towards the business it
underwrites and as new products and markets are
being explored, the company is investing its
resources in people and ideas to meet these
challanges.
(Rs in million)
Premium written
Net premium revenue
Claims expense
Net claims expense
Management expense
2014
2013
1009
459
1273
222
(24)
175
260
963
438
538
215
(2)
151
244
COMPANY INFORMATION
1. Chairman
Mr. Rafiq M. Habib
3. Directors
Mr. Abbas D. Habib

Mr. Mansoor G. Habib
Mr. Mohamedali R. Habib
Mr. Sajjad Hussain Habib
Mr. Aun Mohammad A.
Habib
Mr. Ali Fadoo
Mr. Shabbir Gulamali
Mr. Abdul Aziz Siwani
58
6. Advisors
Legal: M/s. Lari & Co.

Tax: M/s. Abbas Karjatwala
& Co.
7. Auditors
M/s. Ernst & Young Ford

Rhodes Sidat Hyder & Co.
Main Office
1st Floor, State Life

Building No. 6,
M. A. Jinnah Road,
Karachi - 74000
192
HABIB INSURANCE COMPANY LIMITED

Balance Sheet
as at 31st December
2014
Equity
Total
Other liabilities
2013
2012
Rs. in million
2011
650.00
500.00
500.00
500.00
619.37
540.67
1,160.05
495.50
529.53
1,025.03
495.50
464.96
960.46
450.45
427.63
878.08
868.75
432.29
0.26
49.48
1,350.78
46.85
336.52
400.13
1.52
46.32
784.49
38.71
184.48
380.69
42.22
607.39
25.28
209.93
363.60
37.14
610.67
24.04
255.09
353.72
381.57
339.38
38.23
35.72
29.27
25.91
2,851.00
2,237.67
74.56
60.62
78.60
50.43
27.45
29.15
29.22
31.24
1,043.88
1,117.37
1,056.21
916.43
Investments
Deferred tax
2,003.97 1,878.08
21.20
27.45
26.46
19.45

outstanding claims
824.67
273.69
124.59
125.00
45.36
37.34
50.12
38.17
Other assets
800.19
681.03
626.94
683.23
Fixed assets
13.69
11.02
11.83
14.13

TOTAL ASSETS
2,851.00
2,237.67
2,003.97 1,878.08
3,643.19
2,589.16
2,182.72 1,877.08
537.35
1.46
2.46
18.73
289.38
1.40
2.18
20.69

Current ratio
Break-up value
234.81
1.39
2.09
19.38
283.44
1.49
2.14
19.49
2012
2013
2011
2014
Investments
2012
2013
1,000
800
600
400
200
2011
2012
435.97
-
420.31
-
Less: Net claims
221.54
215.02
229.91
231.18
Less: Expenses
175.20
150.79
137.59
127.31

Underwriting result
(23.59)
86.84
(2.17)
73.17
5.45
63.02
1.63
60.19
Investment income
256.87
240.30
204.35
117.39
Rental income
Other income
8.26
11.06
9.28
28.96
(59.15)
(54.17)
(66.90)
(57.49)

Exchange gain
2013
2014
205.97
292.81
270.36
209.75
149.04
32.80
26.38
14.76
22.75
Profit after tax
260.01
243.98
194.99
126.29
Other comprehensive income - net

Total Comprehensive income for the year
(1.12)
258.89
(3.25)
240.73
(1.51)
193.48
126.29
APPROPRIATIONS
275.41
208.11
172.29
197.36
Dividend
General reserve
123.88
123.88
-
173.43
-
112.61
45.05
-
100.10
50.05
247.75
286.55
173.43
275.41
157.66
208.11
150.15
173.50

48.29
56.68
38.19
(5.14)
4.20
Cash dividend
123.88
Stock dividend
123.88
49.05
55.66
34.40
(0.50)
4.92
173.43
-
52.74
44.73
31.56
1.25
3.94
112.61
45.05
55.00
30.05
30.29
0.39
2.80
100.10
50.05
Profit before tax

2014
470
460
450
440
430
420
410
400
2011
2012
2013
2014
Net Premium Revenue
2011
2014
88.86
2012
2013
2014

300
250
200
200
150
150
100
100
50
2013
146.73
250
2012
197.19
300
2011
Net Claims
90
80
70
60
50
40
30
20
10
2011
438.33
(1.52)
1,200
2013
2012
Rs. in million
458.73
1.25
235
230
225
220
215
210
205
1,400
1,200
1,000
800
600
400
200
2014
Revenue account
Net premium revenue
Equity Growth
3,000
2,500
2,000
1,500
1,000
500
2011

50
2011
2012
2013
2014
2011
2012
2013
2014
59
IGI INSURANCE LIMITED
Mr. Tahir Masaud
Vision:
Mission:
IGI Insurance is committed to being one of the

leading providers of solutions to risk exposure in
selected market segments in Pakistan.
Our vision will be realized through:
Premium written
Net premium revenue
Claims expense
Net claims expense
Management expense
Customers
Being the preferred insurer in providing
solutions to risk exposure.
Shareholders
Consistently delivering above market average
return on capital.
2014
(Rs in million)
2,140
1,045
1,051
594
(94)
336
823
2013
2,035
1,067
1,041
767
(92)
287
481
Employees
Providing the environment necessary to be the
employer of choice.
Community
Compliance with the highest ethical moral
standards.
COMPANY INFORMATION
1. Chairman
Syed Babar Ali
2. Directors/CEO
Mr. Tahir Masaud
3. Directors
Mr. Shamim Ahmad Khan

Syed Kamal Ali
Syed Yawar Ali
Syed Shahid Ali
Syed Hyder Ali
Mr. Waqar Ahmad Malik
Mr. Haider Raza
Mr. Usman Saifi
6. Advisors
Ramday Law Associates

Hassan & Hassan
Lari & Company
Habib Ur Rehman & Co
60
7. Auditors
A.F. Ferguson & Co.
Main Office
7th Floor, The Forum,

Suit Nos. 701-713, G-20,
Block 9,
Khayban-e-Jami, Clifton,
Karachi-75600, Pakistan
www.igiinsurance.com
122
IGI INSURANCE LIMITED

Balance Sheet
as at 31st December

2014
Equity
2,000.00

Total
Other liabilities
2,000.00
640.51
648.17
72.75
1,361.43
1.23
579.19
630.26
68.87
1,278.32
-
784.78
680.63
2011
2,000.00 2,000.00
541.69
727.34
600.14
570.17
65.21
66.36
1,207.03 1,363.87
17.84
413.73
340.25
647.83
255.89
2.36
127.36
Deferred tax

outstanding claims
336.40
17.40
84.94
13.12
12.32
342.34
370.05
Other assets
1,274.41
1,124.15
Fixed assets
240.18
222.09
163.80
-
122.32
1.08
1.21
97.98
12,600
12,400
12,200
12,000
11,800
11,600
11,400
11,200
11,000
10,800
10,600
2012
2013
2014
Investments
531.00
181.00

Underwriting result
(93.64)
208.20
(91.70)
104.62
(146.99)
232.40
(67.00)
207.00
Investment income
940.88
691.35
397.53
492.00
Rental income
4.09
13.18
21.39
19.75
Other income
51.51
25.10
12.28
5.78
(188.29)
(238.13)
(152.37)
(130.37)
550.79
(40.95)
346.20
Profit before tax
942.10
555.23
452.16
554.58
(119.30)
(74.17)
(794.66)
(11.33)
(497.88)
(7.00)
822.80
(4.58)
481.07
(3.48)
(353.83)
(17.99)
49.71
-
77.52
-
90.93
528.86
-
Impairment on asset classified for sale

Share of profit / (loss) of associates
Profit after tax
Other comprehansive income
APPROPRIATIONS
63.27
1.04
1.20
101.21
533.64
592.46
223.07
(223.07)
3.48
557.68
(557.68)
17.99
337.66
(337.66)
-
4.58
3.48
17.99
1,063.25
161.82
642.17

56.90
78.74
32.14
(8.96)
6.71
Cash dividend
167.30
Stock dividend
(167.30)
71.87
45.10
26.92
(8.60)
4.31
223.07
(223.07)
62.08
(37.65)
28.83
(15.64)
(3.17)
557.68
(557.68)
62.32
5.83
21.24
(7.86)
0.45
337.66
(337.66)
2014
2011
2012
2013
2014
2011
200
150
100
50
Net Premium Revenue
2014
(200)
(400)
(600)
2012
2013
2014
1,000
800
600
400
200
2013
1,200
1,000
800
600
400
200
200
2012
585.67
400
2011
1,063.25
Net Claims
250
2014
Dividend
167.30
Reserve for bonus share/bonus shares issued (167.30)
General reserve
4.58
2013
165.12
300
2012
583.48
270.96
(59.06)
219.76
350
2011
766.54
287.06
600
2013
852.00
-
335.88
800
2012
939.85
-
594.54
1,000
2011
1,066.55
(0.04)
(40.89)
450.62
11,800
11,600
11,400
11,200
11,000
10,800
10,600
10,400
10,200
2011
1,044.93
0.04
Less: Expenses
Equity Growth
15,000
14,500
14,000
13,500
13,000
12,500
12,000
(168.44)
0.89
1.21
95.70
2011
(74.29)
733.91
(262.42)
0.88
1.25
94.38
2012
14,490.09 13,227.42 12,942.31 13,581.37

Current ratio
Break-up value
2013
Rs. in million
Less: Net claims

\
1,062.30 1,095.99
TOTAL ASSETS
Revenue account
Net premium revenue
2014
Exchange gain
12,196.54 11,252.45 11,246.54 11,622.96
360.62
14,490.09 13,227.42 12,942.31 13,581.37

315.20
Investments
2012
1226.895 1,115.36 1,115.36 1,115.36

10352.251 9,812.87 9,558.36 10,172.88
11,579.15 10,928.23 10,673.72 11,288.24
763.51
2013
Rs. in million
20
15
10
5
2011
2012
2013
2014
2011
2012
2013
2014
61
JUBILEE GENERAL INSURANCE

COMPANY LIMITED
Mr. Tahir Ahmed
Vision:
To enable people overcome uncertainty.
Mission:
Provide solutions to protect the future of our

customers.

2014
Premium written
Net premium revenue
Claims expense
Net claims expense
Net commission
Management expense
Profit after tax
(Rs in million)
6,961
3,645
3,750
2,083
330
957
1,079
2013
6,569
3,526
4,095
2,155
311
837
1,045
COMPANY INFORMATION
1. Chairman
Mr. Towfiq H. Chinoy
2. President & Managing Director Mr. Tahir Ahmed

(Chief Executive Officer)
3. Directors
Mr. Sadruddin Hashwani

Mr. Akbarali Pesnani
Mr. John Joseph Metcalf
Mr. R. Zakir Mahmood
Mr. Aly Noormahomed
6. Auditors
KPMG Taseer Hadi &

Company Chartered Accountants
7. Legal Adviser
M/s Surridge & Beecheno
8. Head Office /
Registered Office
2nd Floor, Jubilee Insurance

House I.I. Chundrigar
Road, Karachi.
UAN (92-021) 111-654-111
Toll Free: 0800-03786
Tel: (92-021) 32416022-26
Fax: (92-021) 32416728,
32438738
Email:info@jubileegeneral.com.pk
Web:www.jubileegeneral.com.pk
9. No. of Employees
633
Rattansey
Mr. Amin A. Hashwani

Mr. Aamir Hasan Irshad
Mr. Nawaid Jamal
Mr. Fahad Alam
62
JUBILEE GENERAL INSURANCE COMPANY LIMITED

Balance Sheet
as at 31st December
2014
Equity
2013
Rs. in million
2012
2011
2,000.00
1,500.00
1,500.00 1,000.00
1,569.10
3,853.78
5,422.88
1,364.44
3,395.36
4,759.80
1,186.47
988.72
2,888.37 2,564.12
4,074.84 3,552.84
Total
2,805.86
2,340.94
90.58
5,237.39
0.05
3,142.96
2,334.67
101.39
5,579.01
0.34
2,275.74 1,832.12
2,246.08 1,832.59
82.05
67.92
4,603.87 3,732.63
0.62
0.90
1,592.29
1,370.91
1,196.16 1,092.72
Other liabilities
1,286.17

Investments
Deferred tax
1,101.90
883.90
595.76
13,538.78 12,811.95 10,759.38 8,974.84

1,021.05
1,010.39
1,259.54
967.36
0.58
0.52
0.76
0.85
7,777.59
7,302.56
678.04
156.43
5,927.29 4,937.31
149.02
144.77
22.50
31.55
31.21

outstanding claims
36.23
1,356.40
1,630.60
1,008.21
746.17
203.33
200.81
175.37
155.74
Other assets
2,341.02
2,339.70
Fixed assets
138.28
139.41
2,069.36 1,886.48

2014
3,644.63
-
3,525.78 3,084.74 2,764.20

-
Less: Net claims
2,082.70
2,154.73 1,910.33 1,699.09
Less: Expenses
957.12
837.00
733.63
652.48

Underwriting result
329.66
275.15
310.78
223.28
286.44
154.35
258.87
153.76
Investment income
803.09
803.46
631.28
611.97
99.12
116.23
104.69
94.28
Rental income
Other income
61.30
71.60
56.76
44.75
(51.09)
(44.53)
(34.36)
(30.75)
Exchange gain
Share in profit of an associate
33.28
791.65
18.92
739.16
1,269.82
1,220.20
946.00
892.91
190.70
174.89
119.50
95.72
Profit after tax

1,079.12
Actuarial (loss)/gain on defined benefit plan
2.96
Total comprehensive income
1,082.07
APPROPRIATIONS
1,055.98
1,045.32
(4.42)
1,040.90
826.50
(7.88)
818.62
797.19
9.98
807.17
Profit before tax

13,538.78 12,811.95 10,759.38 8,974.84

18,989.00 16,185.00 13,010.00 10,902.38

Current ratio
Break-up value
-965.87
0.83
2.50
34.56
99.92
-635.08
0.89
2.69
34.88
-18.69
1.00
2.64
34.34
79.41
1.02
2.53
35.93
10,000
5,000
2013
2014
1,500
1,000
500
Investments
2012
2013
2014
7,000
6,000
5,000
4,000
3,000
2,000
1,000
1,200
1,000
1,000
800
600
400
2013
2014
2013
2014
2011
2012
2013
2014
158.20
197.74
100.00
455.94
1,055.98
878.99
884.74
61.11
29.64
23.74
8.81
7.66
355.94
177.97
61.93
26.78
23.78
9.29
6.97
296.62
197.74
61.47
28.83
23.60
9.37
8.06
158.20
197.74
2011
2012
2013
2014
1,200
1,000
800
600
600
400
400
200
200
533.51
296.62
197.74
230.00
100.00
824.36
57.14
29.60
26.26
9.05
6.88
409.33
204.67
800
2012
2012
1,200
1,400
2011
2011
9,000
8,000
884.73
355.94
177.97
230.00
100.00
863.91
Net Premium Revenue
2,000
2011
878.99
4,000
3,500
3,000
2,500
2,000
1,500
1,000
500
2,500
3,000
2,000
1,000
2012

Cash dividend
Stock dividend
Net Claims
6,000
5,000
4,000
2011
Dividend
General reserve
Special reserve
Equity Growth
15,000
50.16
996.93
138.63
82.25
994.68
TOTAL ASSETS
2011
Revenue account
Net premium revenue
409.33
204.67
320.00
100.00
1,034.00
2013
2012
Rs. in million
200
2011
2012
2013
2014
2011
2012
2013
2014
63
NEW HAMPSHIRE
INSURANCE COMPANY
Mr. Mujib Khan
We're one of the world's largest insurance organizations. We're

leaders in property casualty insurance, life insurance, retirement
services, and mortgage insurance. But we're more than the sum
of our parts.
We're a network of 65,000 people in more than 100 countries
and jurisdictions who come together every day to take on the
world's new challenges. We're people who believe that with the
right values and hard work, anything is possible. We know that
when we're at our best, it allows each and every one of our
customers to be at their best, to realize their dreams, and find
success every day.
And we know that thanks to our investment in the latest data
technology, combined with our spirit of inventiveness, tomorrow
is going to be amazing.
Together, we're working to help see, build, and secure a better
future for everyone.
AIG at a Glance:
n
US$ 64.4B AIG's revenue in 2014
n
99.6% Fortune 500 companies AIG serves
n
95+ years in operation
n
100+ Countries and jurisdictions where AIG serves
customers
n
65,000 approx. AIG employees
Commercial Insurance is a leading provider of insurance products
and services for commercial and institutional customers. It

includes one of the world's most far-reaching property casualty
networks, a leading mortgage guaranty insurer, and an institutional
retirement and savings business. Commercial Insurance offers
a broad range of products to customers through a diversified,
multichannel distribution network. Clients value Commercial
Insurance's strong capital position, extensive risk management
and claims experience, and its ability to be a market leader in
critical lines of insurance business.
n
Ranked among the top 10 most preferred commercial
insurance carriers
n
#1 commercial insurer in the U.S., with an established
and growing position in Latin America
n
Largest non-life insurer in the world by market
capitalization.

2014
Premium Written
Net Premium Revenue
Net Claims Expense
Net Commission Income
Profit / (Loss) after Tax
1,796
607
419
99
212
(Rs in million)
2013
1,643
510
272
83
169
COMPANY INFORMATION
1. Country Manager
Mr. Mujib Khan
2. Finance Manager
Mr. Adnan Khandwala
3. Advisors
Sattar & Sattar
4. Auditors
A. F. Ferguson & Co.
66
1st Floor, Dadex House 34A/1, Block 6, PECHS,

Shahrah-e-Faisal, Karachi 75400, Pakistan
55
NEW HAMPSHIRE INSURANCE COMPANY

Balance Sheet
as at 31st December
2014
Equity
2013
Rs. in million

Total
1,033.81
1,033.81
451.26
672.01
124.79
1,248.06
874.76
585.63
118.51
1,578.90
1,110.89
395.94
466.10
93.70
955.74
813.77
Revenue account
Net premium revenue
606.61
-
509.87
-
436.99
-
443.40
-
Less: Net claims
418.82
272.28
270.19
268.24
Less: Expenses
101.69
121.76
106.89
147.34
318.48
479.98
97.82
896.28

Underwriting result
(99.14)
185.25
(83.76)
199.58
(82.06)
141.96
(39.02)
66.83
Investment income
262.15
166.63
181.89
177.55
Rental income
855.20
Other income
(4.01)
13.49
118.19
0.08
(141.70)
(127.43)
(147.23)
(136.31)
116.45
52.69
152.86
41.32
Profit before tax
301.69
252.27
294.82
108.15
89.67
82.74
102.11
33.93
212.02
169.53
192.71
74.22
1,033.81
1,194.99
1,002.28
928.06
721.29
525.34
8.79
6.54
7.32
529.83
10.08
301.31
786.65
286.28
219.14
85.67
81.75
65.47
73.79
Other assets
1,146.47
888.11
711.59
753.93
Fixed assets
33.67
47.78
62.28
60.34
Profit after tax

APPROPRIATIONS
Dividend
General reserve
TOTAL ASSETS
3,604.78
3,690.86
2,964.50 2,753.76
3,699.19
3,815.91
3,045.49 2,793.99
829.38
1.53
2.89
-
880.58
1.45
3.57
-
1,094.39
1.90
2.48
-
906.06
1.77
2.75
-
1,000
2012
2013
2014
Investments
200
100
2014
1000
1000
600
800
2012
2013
2014
2012
2013
2014
1,194.99 1,002.28
61.83
44.10
24.46
(18.78)
-
60.50
16.74
33.23
(8.80)
-
2011
2012
2013
2014
100
50
2011
100
200
350
300
250
250
200
150
400
200
2014
200
600
400
2013
1200
800
2012
250
1400
2011
2011
1200
330.70
Net Premium Revenue
300
2013
700
600
500
400
300
200
100
-
400
2012
53.40
33.25
23.88
(16.43)
-
500
2011

69.04
34.95
16.76
(16.34)
Cash dividend
Stock dividend
-
2011
330.70
-
1,033.81
Net Claims
1,400
1,200
1,000
800
600
400
200
Equity Growth
1,306.23 1,106.67
1,158.73
2,000
943.75

outstanding claims
3,000
2011
2,964.50 2,753.76
1,085.12
4,000
2013
2012
Rs. in million
3,690.86

Current ratio
Break-up value
2014
3,604.78
Deferred tax

Exchange gain

Investments
1,194.99 1,002.28
1,194.99 1,002.28
1,078.14
2011
1,245.83
1,245.83
Other liabilities
2012
2011
2012
2013
2014
50
-
2011
2012
2013
2014
67
THE PAKISTAN GENERAL

INSURANCE COMPANY LIMITED
Ch. Zahoor Ahmed
Vision:
Mission:
The Pakistan General Insurance Company Limited

is committed to provide quality insurance services
by virtue of sound professionalism and risk
management expertise, to provide better coverage
and satisfaction to their customers.
"Our aim is to provide cost effective insurance
cover to our customers.
We follow good governance and sound
professionalism to become a well reputed and
respected corporate entity in the eyes of all stake
holders.
We strive to maintain a customer focused approach
by ensuring that our services are delivered to the
customers in time, according to the required
specifications and within our stipulated cost."

2014
Premium Written
Net Premium Revenue
Claims Expense
Net Claims Expense
Management Expense
(Rs in million)
2013
413
224
227
122
19
34
45
330
177
221
65
13
72
27
COMPANY INFORMATION
1 Chairman
Ch. Manzoor Ahmed
2 Chief Executive Officer
Ch. Zahoor Ahmed
3 Directors
Ch. Manzoor Ahmed

Ch. Zahoor Ahmed
Mr. Ghulam Mustafa
Mr. Athar Zahoor
Mr. Nasir Ali
Mr. Rais - ud - Din
Dr. Mehmood - ul -Haq
Mr. Muazzam Baig
Mr. Mazhar Zahoor
4 Company Secretary
Ch. Muhammad Saleem
5 Chief Financial Officer
Mr. Azhar Hafeez Ch.
68
6 Legal Advisors
Kamran & Co.
7 Auditors
Rehman Sarfaraz Rahim Iqbal Rafiq
8 Registered Office
Cooperative House Building,

5 Bank Quare, The Mall,
Lahore
9 Main Office
PGI House, Bank Square, The

Mall, Lahore
10 Number of Employees 121
THE PAKISTAN GENERAL INSURANCE COMPANY LIMITED

Balance Sheet
as at 31st December
2014
Equity
Authorized Share Capital
Issued subscribe and paid-up Capital
Total
2013
Rs. in million
2012
2011
400.00
400.00
400.00
400.00
375.00
196.86
571.86
375.00
151.74
526.74
300.00
199.15
499.15
300.00
104.37
404.37
50.16
202.50
18.17
270.82
2.97
49.67
165.33
10.06
15.58
240.64
6.71
5.55
164.37
18.86
188.78
4.20
7.01
224.56
32.74
264.31
1.71
37.78
23.05
32.02
24.51
Other Liabilities
0.23
0.23
0.33
0.34
Surplus on revaluation of assets
9.86
10.14
10.43
10.74
Total Equity And Liabilities
893.52
807.51
734.91
705.98
329.26
109.62
197.18
118.60
0.22
0.20
0.22
0.19
49.11
82.55
72.65
45.02

Investment
105.09
Deferred Tax
202.62
116.45
136.79

Outstanding Claims
5.38
3.72
3.81
5.38
24.83
22.94
22.04
13.61
Other Assets
282.24
312.09
245.02
304.14
Fixed Assets
97.39
73.15
76.81
81.40
0.62
0.73
0.85
Leased Motor Vehicle
TOTAL ASSETS
893.52
807.51
734.91
705.98
Assets at Market Value
925.86
839.85
767.25
721.28

Current Ratio
Break-up Value
528.71
7.00
1.56
15.25
352.48
5.83
1.53
14.05
408.11
11.77
1.47
16.64
396.26
13.44
1.75
13.48
600
400
200
2012
2013
2014
Investments
2012
2013
228.96
-
142.68
-
Less: Net Claims
122.48
65.00
74.90
65.95
Less: Expenses
34.30
71.91
34.36
31.54

Underwriting result
18.64
58.65
12.94
16.65
(15.32)
135.02
(3.21)
48.40
Investment Income
22.16
33.05
12.43
8.32
6.30
5.73
7.41
6.73
Rental Income
Other Income
(0.47)
(8.91)
(0.43)
2.38
(0.49)
(4.04)
(0.39)
(15.28)
Profit before tax
49.73
19.03
130.98
33.12
4.90
(8.26)
21.50
(19.27)
44.84
27.29
109.48
52.39
APPROPRIATIONS
36.74
9.15
4.36
(3.36)
Dividend
Reserve for Bonus Share/Bonus Shares issued
General Reserve
25.00
Incremental depreciation
-0.282
24.72
15.00
-0.3
(0.30)
90.00
-0.31
104.69
50.00
(5.00)
-0.33
44.67
Balance Unappropriated profit at end of year
56.86
36.74
9.15
4.36

Net Profit after tax to net premium %
Cash Dividend
Stock Dividend
54.68
20.02
15.31
8.32
1.20
-
36.81
15.46
40.73
7.33
0.73
-
32.71
47.82
15.01
(6.69)
3.65
15.00
-
46.22
36.72
22.11
(2.25)
1.75
50.00
150
100
50
80
200
60
2014
2011
2012
2013
2011
2014
2012
2013
2014
120
100
80
60
40
20
20
50
2013
40
100
2014
2012
100
2013
200
2011
300
2012
Net Premium Revenue
250
120
150
Profit after tax
250
2011
5.32
(35.26)
200
50
11.84
(35.23)
250
100
1.85
(37.82)
2014
350
150
2.04
(38.95)
Exchange gain
300
2011
176.56
(10.06)
140
120
100
80
60
40
20
2011
2013
2012
Rs. in million
224.00
10.06
Net Claims
700
600
500
400
300
200
100
800
2014
REVENUE ACCOUNT
Net Premium Revenue
Equity Growth
1,000
2011

2011
2012
2013
2014
(20)
2011
2012
2013
2014
69
PICIC INSURANCE LIMITED
Mr. Afroz Quraishi

Vision:
To emerge as a progressive and reliable Insurance

company, with expertise in providing Insurance
Solutions essential to Risk Management; and
pioneering a culture of Insurance awareness to
customer.
Mission: PICIC Insurance shall fully satisfy the needs and

expectation of all its stakeholders by:
(Rs in million)
Premium Written
Net Premium Revenue
Net Claims Expense
Net Commission earned
(Loss) / profit after tax
2014
2013
508
293
(213)
(14)
(130)
657
323
(178)
8
10
Delivering value to customers by creating optimized

Risk solutions.
Providing our employees an environment essential
to their career progression.
Continually provide above average returns to our
shareholders.
Support and develop the Communities in which we
live and work
COMPANY INFORMATION
1 Chairman
Mr. Irshad Ali Shaban Ali Kassim
2 Managing Director
& CEO
Mr. Afroz Quraishi
6. Legal Advisor
Abdul Majeed & Co.
7. Auditors &
A.F.Ferguson & Co.

1204, 12th Floor, Emerald Towers
Clifton, Block-5, Karachi - 75600,
Pakistan
UAN: 11 12 PICIC (111-274-242)
Landline: +92 21 35147651-5
Fax +92-21-35147656
www.picicinsurance.com
3 Directors
Mr. Shahid Ahmad

Mr. Abu Ahmed
Mr. Munawar Ali Kassim
Mr. Muzaffar Ali Shah Bukhari
Ms. Ayesha Mohammad
Mr. Ghulam Muhammad
Mr. Khalid Nawaz Awan
8. Registered /
Head Office
Ms. Faiza Khalid
9. Number of employees
5. Acting CFO
Syed Zaigham Raza
70
78
PICIC INSURANCE LIMITED

Balance Sheet
as at 31st December
2014
Equity
2013
2012
Rs. in million
2011
500.00
500.00
500.00
500.00
350.00
(250.00)
100.00
350.00
(121.00)
229.00
350.00
(126.00)
224.00
350.00
(99.00)
251.00
Total
186.00
286.00
8.00
20.00
500.00
-
124.00
387.00
15.00
526.00
-
159.00
338.00
2.00
23.00
522.00
115.00
349.00
1.00
29.00
494.00
353.00
169.00
224.00
321.00

Other liabilities

Investments
Deferred tax
outstanding claims
2.00
2.00
6.00
953.00
926.00
972.00 1,072.00
41.00
102.00
246.00
236.00
292.00
256.00
187.00
347.00
76.00
74.00
66.00
54.00
200.00
121.00
112.00
112.00
3.00
3.00
3.00
4.00
72.00
55.00
55.00
44.00
18.00
26.00
30.00
31.00
Other assets
237.00
285.00
268.00
235.00
Fixed assets
13.00
3.00
3.00
3.00
1.00
1.00
2.00
6.00
953.00
926.00

TOTAL ASSETS
972.00 1,072.00

Current ratio
Break-up value
189
0.65
9.53
2.86
147
1.50
4.04
6.54
73
1.17
4.27
7.17
1,050
1,000
950
900
2012
2013
2014
293
(8.00)
323
2.00
323
(1.00)
225
-
Less: Net claims
213.00
178.00
212.00
144.00
Less: Expenses
111.00
118.00
124.00
84.00

Underwriting result
14.00
(53.00)
(8.00)
37.00
(2.00)
(12.00)
(23.00)
20.00
7.00
12.00
14.00
3.00
Revenue account
Net premium revenue
Investment income
Rental income
Other income
7.00
17.00
28.00
33.00
(92.00)
(56.00)
(55.00)
(47.00)

Exchange gain
(Loss) / profit before tax
150
100
100
50
50
2013
2014
2012
2013
10.00
(26.00)
8.00
1.00
(4.00)
10.00
(27.00)
12.00
(126.00)
(99.00)
(119.00)
(5.00)
-
8.00
-
(121.00)
(126.00)
(99.00)

72.70
(44.71)
37.88
4.78
(3.74)
Cash dividend
Stock dividend
-
55.11
3.10
36.53
(2.48)
0.29
-
65.63
(8.36)
38.39
(0.62)
(0.77)
-
64.00
5.33
37.33
(10.22)
0.34
-
Net Premium Revenue
350
300
250
200
150
100
50
2011
2012
2013
2014
2011
2014
(1.00)
(12.00)
Balance unappropriated profit at end of year (250.00)
(20)
(40)
(60)
(80)
(100)
(120)
(140)
2012
2013
2014
20
2011
(131.00)
(131.00)
50
200
150
(1.00)
(14.00)
2014
250
200
(27.00)
APPROPRIATIONS
(121.00)
Remeasurement of post retirement
benefits obligations
2.00
Dividend
General reserve
-
250
(Loss) / profit after tax
(78.00)
100
2013
150
2012
2014
Rs. in million
Net Claims
300
2012
2011
200
2011
Investments
300
2011
2012
250
300
250
200
150
100
50
2011
2013
Equity Growth
1,100
850
184
1.48
4.34
6.40
1
1
1
0
0
2011
2012
2013
2014
2011
2012
2013
2014
71
PREMIER INSURANCE LIMITED
Mr. Muhammad Asif Arif
Vision:
Our vision is to provide the highest level

of service in general insurance and strive
to become a market leader with a
prestigious profile.
Mission:
Our Business: We are a company underwriting

general insurance business including underwriting
fire, property, marine, motor and other risks of
our clients.
We are committed to become the leading
organization in the insurance sector building an
excellent reputation among our clients with the
objective of maximizing returns for all the
stakeholders
To provide an excellent working environment to
our employees affording them every opportunity
to growth and career developments.
Our Strength: Financial viability and security we
provide our clients and reinsurers in order to
safeguard their interests.
Our Strategy: To enhance our corporate image
by providing high quality products and services
to our policy holders.
Our Values: We take pride in adhering to ethical

business practices and in being a good corporate
citizen.
We respect our people and endeavor to provide them opportunities
to realize their full potential.
We recognize our responsibility to our stakeholders and to society.
(Rs in million)
Premium Written
Net Premium Revenue
Claims Expense
Net Claims Expense
Management Expense
Profit after tax
2014
2013
1,356
695
544
347
144
213
35
1,239
653
1,088
573
102
202
(167)
COMPANY INFORMATION
1. Chairman
Mr. Zahid Bashir
2. Chief Executive
Mr Muhammad Asif Arif
3. Board of Directors
Mr. Khalid Bashir

Mr. Imran Maqbool
Mr. Nadeem Maqbool
Mr Khurram Mazhar
Mr. Shams Rafi
Mr. Attaullah A Rasheed
& CFO
Mr. Iftikhar Gadar
5. Legal Advisor
Arfin & Company

Advocates
72
6. Auditors
Ernst & Young Ford

Rhodes Sidat Hyder
7. Tax Advisor
Mushtaq & Company
5th Floor, State Life

Building No. 2A
Wallace Road, Karachi
74000, Pakistan
Phones: (92-21) 32416331-4
Fax:
(92-21) 32416572
Email: info@pil.com.pk
Website: www.pil.com.pk
149
PREMIER INSURANCE LIMITED

Balance Sheet
as at 31st December
2014
Equity
Total
500.00
500.00
302.82
1,225.42
1,528.24
302.82
1,251.09
1,553.91
466.6
731.77
595.85
567.15
33.10
26.22
1,095.55 1,325.14
32.35
32.21
747.08
Other liabilities
Investments
26.76
21.34
3,554.30
150.99
108.94
1.47
0.25
1,121.13
1,169.54
321.57
90.48
1,524.38
Fixed assets
244.65
243.46
TOTAL ASSETS
3,429.98
478.95
481.41
15.73
10.03
3,305.86 3,301.64
146.84
-
54.77
55.28
-
277.90
278.31
82.77
74.72
255.57
-
255.45
675.09
1.54
2.24
50.47
3,305.86 3,301.64
621.47
1.45
2.29
51.31
2000
3,500
1500
3,400
1000
3,300
2011
2012
2013
2014
2011
Investments
2012
2013
1,350
1,300
Less: Net claims
347.12
573.23
327.41
218.83
Less: Expenses
212.68
202.33
201.94
187.33

Underwriting result
143.77
(9.07)
102.32
(224.96)
64.09
(60.96)
51.31
4.95
Investment income
145.73
173.46
89.85
156.22
4.69
4.043
3.33
2.93
Rental income
Other income
1,150
2013
2014

49.58
73.44
Profit before tax
40.51
(5.87)
Profit after tax

APPROPRIATIONS
Dividend
General reserve
97.83
(151.98)
1.56
102.78
(14.82)
19.66
(18.95)
34.64
(166.80)
21.22
83.83
(93.93)
0.26
60.56
(60.56)
134.09
(0.66)
60.56
-
190.33
0.39
60.56
-
269.81
75.71
75.00
60.56
60.56
150.71
(59.03)
(93.93)
151.38
202.93

Cash dividend
Stock dividend
49.98
4.99
30.62
20.70
1.14
60.56
-
87.79
(25.55)
30.99
15.67
(5.51)
60.56
-
61.49
3.99
37.92
12.04
0.70
60.56
-
47.32
18.13
40.51
11.10
2.77
75.71
-
Net Premium Revenue
800
700
600
500
400
300
200
100
-
2011
2012
2013
2014
2011
(150)
(200)
2013
2014
(50)
2014
2012
160
140
120
100
80
60
40
20
(100)
2013
62.52
50
2012
2.52
(63.84)
2011
5.27
(35.93)
50
1,100
0.42
(104.49)
Impairment in Investment
100
100
1,200
0.54
(101.38)
Exchange gain
2014
150
1,250
2012
462.42
-
Net Claims
200
2011
532.48
-
1,400
2011
652.92
-
700
600
500
400
300
200
100
500
3,200
1,050
702.26
1.76
1.80
60.70
2013
2012
Rs. in million
694.5
Equity Growth
3,600
3,100
715.90
1.76
1.86
58.84
Revenue account
Net premium revenue
2014

Current ratio
Break-up value

1.00
1,237.14 1,159.33
3,554.30
186.63
1,250.87 1,290.92
362.96
93.38
430.57
460.86
54.29
945.72
26.47
1,442.97
500.00
451.30
490.05
59.50
1,000.85
28.39
Other assets
2011
302.82
302.82
1,479.12 1,535.19
1,781.94 1,838.01
54.29

outstanding claims
500.00
621.70
3,429.98
53.82
Deferred tax
2013
2012
Rs. in million
2011
2012
2013
2014
2011
2012
2013
2014
73
RELIANCE INSURANCE CO LTD
Mr. A. Razak Ahmed

Vision:
Mission:
To be recognized as a professional and

dependable business entity committed to play
a meaningful role in the development of
insurance industry in Pakistan and to safeguard
the legitimate interests of all stakeholders,
namely policy-holders, shareholders,
reinsurers, employees and all other business
associates / partners.
To provide quality service and protection to
its clients aiming at achieving a respectable
volume of business and become a prominent
player through good governance and sound
professionalism focusing to become a well
known and respected Corporate entity in the
eyes of Society and Government
(Rs in million)
Premium written
Net premium revenue
Claims expense
Net claims expense
Management expenses
2014
2013
1028
296
249
94
39
123
90
837
261
596
88
37
117
75
COMPANY INFORMATION
1. Chairman
Mr. Ismail H. Zakaria
2. Chief Executive Officer Mr. A. Razak Ahmed

& Managing Director
3. Directors
74
Mr. Mohammad Amin AhmedBawany

Mr. A.Aziz Ayoob
Mr. Irfan Zakaria Bawany
Mr. Mohammad Omer Bawany
Mr. Zohair Zakaria
Mr. Ahmed Ali Bawany
Mr. Noor M. Zakaria
Mr. Yasin Siddik
Mr. Abdul Jabbar
& CFO
Mr. Haroon A. Shakoor
5. Legal Advisor
Mr. Abdul Sattar Pingar
6. Auditors
BDO Ebrahim & Co
96-A, S.M.C.H.S., Karachi
8. Main Office
Reliance Insurance House

181-A, S.M.C.H.S., Karachi
9. Number Of Employees
200
RELIANCE INSURANCE CO LTD

Balance Sheet
as at 31st December
2014
Equity
Total
Other liabilities
Investments
2013
2012
Rs. in million

2011
500
500
500
500
403.46
321.76
725.22
366.78
286.64
653.42
318.94
259.77
578.71
318.94
196.49
515.43
273.40
461.01
230.06
417.93
628.61
288.38
188.02
248.46
30.42
764.83
31.63
679.62
30.91
947.90
28.85
465.33
104.98
122.99
105.84
128.06
0.91
0.55
0.57
0.11
1,595.94
1,456.58
104.50
103.08
68.76
79.82
1.53
1.52
1.57
0.92
1,633.02 1,108.93
Less: Expenses
122.76
116.70
106.78
99.15

Underwriting result
39.24
39.45
36.57
19.59
33.78
17.04
37.99
15.25
Investment income
96.21
97.43
110.24
94.85
Rental income

Profit before tax
APPROPRIATIONS
198.19
586.68
136.53
53.50
46.56
44.78
Other assets
538.74
528.69
428.77
377.11
Fixed assets
81.65
71.28
63.81
63.23
1,595.94
1,456.58

1,633.02 1,108.93
494.52
2.30
2.20
17.98
476.36
2.35
2.23
17.82
349.19
1.48
2.82
18.14
277.27
1.88
2.15
16.16
Dividend
General reserve
1000
500
Investments
300
60
200
40
100
2013
2014
2012
2013
93.90
83.31
6.50
6.70
6.50
90.14
74.70
87.20
76.81
126.63
169.77
106.49
99.11
18.34
36.67
20.00
47.84
70.00
23.92
-
66.93
2.50
34.52
36.23
44.36
14.03
2.73
23.92
-
36.16
32.18
41.54
15.91
2.41
66.93
31.89
30.48
41.51
13.27
2.23
18.34
36.67
Net Premium Revenue
350
300
250
200
150
100
50
2011
2012
2013
2014
2011
2014
2011
2012
2013
2012
2013
2014
100
90
80
70
60
50
40
30
20
10
2011
81.20
6.40
33.71
28.65
44.76
14.02
2.04
47.84

Cash dividend
Stock dividend
75
20
96.54
69.43
2014
80
400
68.06
106.49
80
100
500
23.92
85
120
600
(0.62)
76.86
169.77
700
(0.08)
61.61
117.84
90
2013
(0.05)
57.09
126.63
95
2012
3.00
(29.79)
75.01
100
2011
2014
2.59
(35.35)
Net Claims
800
700
600
500
400
300
200
100
-
1500
2.90
(38.64)
Balance unappropriated profit at end of year 141.76
Equity Growth
2,000
2.81
(41.88)
Exchange gain
Profit after tax
54.08
2012
86.32
230.57
2011
83.10
2013
87.89
2012
94.30
2011
Less: Net claims
406.54
238.71
436.87

Current ratio
Break-up value
240.70
500.32

outstanding claims
2011
260.75
584.87
Deferred tax
2013
2012
Rs. in million
295.75
Other income
TOTAL ASSETS
Revenue account
Net premium revenue
2014
2014
140
120
100
80
60
40
20
-
2011
2012
2013
2014
75
SPI INSURANCE
COMPANY LIMITED
Mian M.A. Shahid

Vision:
Mission:
Our vision is to be the quality insurance service

provider, recognized and appraised by
Performance and product development to cater
the changing needs of customers and
continuous growth of human resources.
We wish to become a dynamic insurance
service provider, maintaining credibility and
reputation while growing revenues over the
coming years and improving insurance
products by utilizing latest technologies. SPI
Insurance Company Limited focusing to build
up a team of professionals by imparting
exhaustive training, education and career
orientation for the benefit of the insurance
industry. We shall endeavor our utmost to
render the best possible services to our clients.
(Rs in million)
Premium Written
Net Premium Revenue
Claims Expense
Net Claims Expense
Management Expense
2014
2013
510
404
186
122
56
118
40
390
286
142
104
33
76
32
COMPANY INFORMATION
1. Chairman
Mr. Aziz Ullah Memon
Suite No. 204-A, Second Floor,

Madina City Mall, Abdullah Haroon
Road, Karachi.
Phone: (021) 37010190, 35221805-6
Fax: (021) 37010191
9. Main Office
UIG House,
6 - D Upper Mall,
Lahore.
Phone: (042) 35776561-62, 35756563
Fax: (042) 35776560
E-mail: info@spiinsurance.com.pk
Website: www.spiinsurance.com.pk
2. Chief Executive Officer Mian M.A. Shahid

3. Directors
Mr. Jameel Ahmed Khan

Mr. Uzman Naveed Chaudhary
Mr. Abdul Majeed
Mr. Muhammaed Saleem Sheikh
Mr. Muhammad Moazzam Khan
Mr. Noshad Ahmed
Mr. Naeem Tariq
6. Legal Advisors
M/s Mandviwalla & Zafar

M/s Zeeshan Abdullah
7. Auditors
78
M/s Ilyas Saeed & Co.
SPI INSURANCE CO. LTD.

Balance Sheet
as at 31st December
2014
Equity
2011
1,000.00
500.00
500.00
500.00
325.00
4.06
329.06
325.00
(35.63)
289.37
325.00
(67.91)
257.09
325.00
(142.46)
182.54
Waqf / Participants' Takaful Fund - (PTF)

Ceded money
Accumulated surplus
Total
2013
2012
Rs. in million
78.38
211.73
0.71
290.82
8.05
97.83
170.44
3.59
0.22
272.08
4.78
80.91
145.87
6.74
12.25
245.77
2.69
112.66
105.14
2.00
8.92
228.72
0.94
30.16
21.39
24.27
16.67
658.09
587.62
529.82
428.87
114.20
70.15
70.41
62.99
1.86
1.71
0.50
0.35
67.13
80.50
93.66
82.34
Investments
Deferred tax
19.27
47.22
52.00

outstanding claims
54.94
69.20
71.29
93.47
-
Less: Net claims
122.80
104.91
36.88
16.43
Less: Expenses
118.14
76.52
77.94
54.16
56.52
33.25
14.73
1.86
Underwriting result
110.24
75.29
49.31
21.02
12.37
11.11
10.21
7.45
268.18
3.25
2.03
8.90
201.11
2.91
2.06
7.91
7.39
(52.76)
(46.33)
(37.30)
(10.53)

Exchange gain
600
400
200
2014
Investments
2012
2013
(25.43)
4.31
Profit before tax from conventional operations 73.04
40.28
23.88
25.33
Profit/(loss) from window takaful operations
(0.71)
Profit before tax
72.33
40.28
23.88
25.33
(35.63)
(67.91)
(142.45)
30.39
9.98
29.23
13.99
1.24
-
36.58
11.38
26.68
11.59
1.00
-
20.09
40.83
42.45
8.02
2.31
-
17.58
26.10
57.94
1.99
0.75
-
2014
400
300
200
100
2011
2012
2013
2014
40
20
2011
2012
2013
2011
60
2014
Net Premium Revenue
500
2014
2012
2013
2014
80
70
60
50
40
30
20
10
80
3.53
Net Claims
100

Cash dividend
Stock dividend
171.04
2.32
2.35
5.62
120
100
90
80
70
60
50
40
30
20
10
(35.01)
140
120
100
80
60
40
20
2011
(166.85)
(166.85)
428.87
350
300
250
200
150
100
50
(37.20)
Equity Growth
800
(143.05)
0.18
(142.87)

386.89
4.56
2.00
10.12
1.66
(67.91)
(0.35)
(68.26)
32.79
529.82
0.21
(35.63)
(1.18)
(36.81)
56.61
587.62
3.18
24.40
51.12
658.09
Other income
74.96
80.48
32.63
47.50
40.34
Fixed assets
APPROPRIATIONS
Acturial (loss) / gain on defined benefit plan
Dividend
General reserve
13.02
Rental income
Profit after tax
156.90
2013
183.60
(4.74)
20.76
2012
286.82
3.15
0.93
164.59
2011
404.13
3.58
(51.08)
19.07
2013
Revenue account
Net premium revenue
7.65
248.65
2012
2011
32.00
26.91
2011
2012
326.29

Current ratio
Break-up value
2013
Rs. in million
Other assets
TOTAL ASSETS
2014
Investment income
Other liabilities

0
(50)
(100)
(150)
2011
2012
2013
2014
(200)
2011
2012
2013
2014
79
SECURITY GENERAL INSURANCE

COMPANY LIMITED
Ms. Nabiha Shahnawaz
Mission
SGI to become a leader in insurance through innovation,

competitive advantage, customer satisfaction and stakeholder
confidence.
(Rs in million)
Premium Written
Net Premium revenue
Net Claims Expense
Net Commission/Income
Profit/Loss after Taxation
2014
2013
1,816
524
232
29
897
1,872
368
97
16
760
COMPANY INFORMATION
1. Chairman
Mian Hassan Mansha
3. Board of Directors
Mian Hassan Mansha

Mr. Jehanzeb Amin
Mr. Mahmood Akhtar
Mr. Inayat Ullah Niazi
Mr. Badar ul Hassan
Mr. Khalid Mahmood Chohan
Mr. Farrukh Aleem
6. Legal Advisor
Hamid Law Associates
80
7. Auditors & Tax Advisor
A.F. Ferguson & Co

8. Registered / Main Office SGI House, 18 C / E1,

Gulberg III, Lahore.
Tel: 92-42-35775024-29
Fax: 92-42-35775030
E-mail: sgi@sgicl.com
Web: www.sgicl.com
147
SECURITY GENERAL INSURANCE COMPANY LIMITED

Balance Sheet
as at 31st December
2014
Equity
2013
2012
Rs. in million
2011
1,000.00
1,000.00
1,000.00 1,000.00
680.63
7,814.06
8,494.69
680.63
7,226.91
7,907.54
680.63
680.63
6,740.62 6,453.31
7,421.25 7,133.94
Total
Deferred Liabilities (Defered Taxation)
507.15
888.32
344.88
905.37
212.78
650.22
156.67
190.10
82.53
1,478.00
4.71
66.01
1,316.25
6.30
54.81
917.80
-
27.33
374.09
-
1,055.70
1,084.09
391.45
194.97
Other Liabilities
11,033.10 10,314.18
836.80
711.77
7,535.30
7,261.14
218.06
8,730.50 7,921.06
164.62
56.74

Investment
Deferred Tax
7,272.99 7,211.21
26.42
27.49
21.93
18.83

Outstanding Claims
423.56
266.39
165.60
110.46
110.44
101.90
59.37
42.32
Other Assets
1,980.43
1,835.37
938.84
394.16
Fixed Assets
120.14
110.11
107.15
87.34
TOTAL ASSETS
11,033.10 10,314.18
8,730.50 7,921.06

Current Ratio
Break-up Value
1,677.95
2.07
1.30
124.81
1,384.57
1.97
1.30
116.18
664.84
2.10
1.18
109.04
(8.34)
0.99
1.11
104.81
2013
2014
Investments
231.65
96.69
70.02
52.71
Less: Expenses
89.07
77.84
61.19
45.89

Underwriting result
29.19
174.16
16.41
176.94
10.26
56.11
9.20
47.58
Investment Income
850.00
751.36
644.88
516.80
Rental Income
Other Income
46.00
7,500
7,400
7,300
7,200
7,100
7,000
2013
2014
0.08
0.51
8.45
96.99
96.67
84.80
44.74
Exchange gain
2013
30.96
529.63
70.94
409.57
Profit before tax
971.39
826.45
585.74
457.16
74.36
66.04
58.69
67.83
897.03
760.40
527.05
389.33
7,224.91
6,738.62
185.37
Dividend
306.28
Reserve for Bonus Share/Bonus Shares issued
General Reserve
Other comprehensive income: remeasurement of
3.60
defined benefit obligation
309.88
272.25
-
238.22
-
204.19
-
1.87
1.52
(0.23)
Profit after tax

APPROPRIATIONS
274.12
239.74
203.96
Balance Unappropriated profit at end of year 7,812.06 7,224.91
472.68
185.37

44.20
171.17
17.00
5.57
13.18
Cash Dividend
306.28
Stock Dividend
-
35.44
266.75
30.97
5.19
7.74
238.22
-
33.92
250.57
29.53
5.92
5.72
204.19
-
2014
26.28
206.69
21.16
4.46
11.17
272.25
-
Net Premium Revenue
600
500
400
300
200
100
2011
2012
2013
2014
2011
2014
5.26
649.50
2012
2013
2014
1,000
900
800
700
600
500
400
300
200
100
2012
1.77
797.24
50
2011
100
900
800
700
600
500
400
300
200
100
2012
Less: Net Claims
7,600
2011
155.38
150
2013
2011
197.58
200
2012
2012
367.89
250
2011
2013
Rs. in million
524.07
Net Claims
9,000
8,500
8,000
7,500
7,000
6,500
6,000
2012
2014
REVENUE ACCOUNT
Net Premium Revenue
Equity Growth
12,000
10,000
8,000
6,000
4,000
2,000
2011

500
400
300
200
100
2011
2012
2013
2014
2011
2012
2013
2014
81
SHAHEEN INSURANCE
COMPANY LIMITED
Mr. Sohel Najam Kidwai
Values:
Mission:
To deliver general insurance at its best and to

contribute positively and proactively for the
welfare of our society at large as well as for the
preservation of our environment, culture and
ethics
Our mission is to continuously improve our selves
to become a leading, profitable Company meeting
the needs of our customers and enhancing the
value of our shareholders Investment.
(Rs in million)
2014
284
230
147
73
40
49
13
Premium written
Net premium revenue
Claims expense
Net claims expense
Management expense
2013
344
331
378
235
57
84
(106)
We will accomplish this by using the strengths

of our people and the application of innovative
science for the development of new insurance
products and services that are high in quality and
competitive in price
COMPANY INFORMATION
1. Chairman
Air Marshal
Muhammad. Arif Pervaiz (Retd.)
2. Chief Executive Officer Mr. Sohel Najam Kidwai

3. Directors
82
Air Commodore
Zafar Yasin (Retd.)
Air Commodore
Mahmood Ahmad (Retd.)
Air Commodore
Mr. Shahid Jamil Hashmi
(Retd.)
Air Commodore
Muhammad Masud Akhtar
(Retd.)
Group Captain
Mr. Ehsan-ur-Rauf Sheikh
(Retd.)
Mr. Aamir Shahzad Mughal
4. Chief Financial Officer Mr. Nisar Ahmed Almani

5. Legal Advisor
6. Auditors
Surridge & Beecheno

Riaz Ahmed & Company
Main Office
10th Floor, Shaheen Complex,

M.R. Kayani Road, Karachi
108
SHAHEEN INSURANCE COMPANY LIMITED

Balance Sheet
as at 31st December
2014
2013
2012
2011

Equity
600.000

300.000
450.000 300.000
(109.916) (122.879)
340.084 177.121
Total
Other liabilities
30.000
30.000
300.000 250.000
(16.627) 15.465
283.373 265.465
228.704
125.729
3.764
0.744
358.941
347.858
143.405
3.764
4.135
499.162
236.223
214.836
3.278
7.806
462.143
146.408
282.507
12.260
441.175
87.333
187.202
130.165
121.765
Revenue account
Net premium revenue
482.963
Less: Net claims
73.395
235.003
303.949
247.643
Less: Expenses
48.815
83.820
90.351
87.336

Underwriting result
39.784
67.626
56.515
(44.700)
70.163
40.378
64.419
83.566
Investment income
15.897
9.310
7.335
11.654
2.301
2.175
2.125
2.095
Rental income
Other income
0.908
3.394
4.116
864.393
879.075
832.521
230.399
71.532
48.490
26.324
0.054
0.771
3.556
2.774
238.654
229.971
240.948
51.782
58.955
60.373
27.463
29.303
Profit after tax
Deferred tax
30.089
94.607
48.434
22.720
Other assets
217.398
381.843
437.383
515.308
Fixed assets
10.446
23.250
69.988
180.698

TOTAL ASSETS
0.761
2.046
2.812
3.613
786.756
864.393
879.075
832.521
161.45
1.51
2.31
7.56
12.01
1.02
4.88
5.90
164.53
1.44
3.10
9.45
292.06
2.07
3.14
10.62

Current ratio
Break-up value
800
750
2012
2013
2014
Investments
2012
2013
300
250
200
200
150
150
100
100
2012
2013
2014
(58.087)
(69.624)
(58.367)
11.817 (102.787)
(29.245)
25.199
(3.466)
(2.846)
(5.954)
12.962 (106.253)
(32.092)
19.245
(4.535)
(23.780)
(36.627)
(4.535)
59.818
(6.316)
17.781
13.808
(1.070)
-
51.276
3.985
18.083
13.338
0.770
-
(142.879)
(36.627)
Balance unappropriated profit at end of year (129.917) (142.879)

31.964
5.645
21.259
17.326
0.288
Cash dividend
Stock dividend
-
70.971
(32.088)
25.314
17.068
(3.542)
-
Net Premium Revenue
600
500
400
300
200
100
2011
2012
2013
2014
2011
2012
2013
2014
40
20
1
0
50
50
6.004
(78.120)
1.145
Dividend
General reserve
2014
250
2011
Profit before tax
350
3.715
(82.799)
(55.809)
350
300
250
200
150
100
50
2011
5.474
(75.046)
Net Claims
400
350
300
250
200
150
100
50
850
37.882
(111.889)
-
Equity Growth
900
2011
Exchange gain
APPROPRIATIONS

outstanding claims
2011
508.120
(3.279)
0.398
Investments
2012
331.125
(0.485)
786.756
2013
Rs. in million
229.621
-
700
2014
Rs. in million
2011
2012
2013
2014
(20)
(40)
(60)
(80)
(100)
(120)
0
0
0
2011
2012
2013
2014
2011
2012
2013
2014
83
SINDH INSURANCE LIMITED
Mr. Muhammad Faisal Siddiqui

Values:
Mission:
Reaching everyone for insurance and to meet

expectations of our customers and shareholders.
To provide best returns to our shareholders, job
opportunities to the people and premium service
at competitive price to our customers.
(Rs in million)
2014
2.31
(0)
0
32
Premium Written
Net Premium Revenue
Net Claims Expense
Profit After Tax
2013
-
COMPANY INFORMATION
1. Chairman
Muhammad Bilal Sheikh
2. Chief Executive Officer Muhammad Faisal Siddiqui
6. Auditors
3. Directors
Mohammad Sohail Khan Rajput

Syed Shahnawaz Nadir
Muhammad Naimuddin Farooqui
Shamsuddin Khan
Mr. Ahmed Salahuddin
Mr. Akhtar Ali Khan
Head Office
& CFO
Mr. Nadeem Akhter
8. No. of Employees
5. Legal Advisor
Muhammad Nadeem Khan
84
Riaz Ahmad & Company
1st Floor, Imperial Court,

Dr. Ziauddin Ahmed Road,
Karachi.
Phone: (92-21) 35640715-17
Fax: (92-21) 35640714
23
SINDH INSURANCE LIMITED

Balance Sheet
as at 31st December
2014
2013
2012
2011

2014
Rs. in million
Equity
Revenue account
Net premium revenue
500.00
500.00
32.03
532.03
Total
0.11
2.09
0.41
2.61
1.46
3.38

Exchange gain

Other liabilities
4.31
543.79
135.34
Investments
355.23
2013
Rs. in million
2012
2011
(0.46)
Less: Net claims
0.11
Less: Expenses
1.72

Underwriting result
(0.00)
(2.29)
Investment income
61.32
Rental income
Other income
0.22
11.45
72.99
Profit before tax
47.80
15.77
Profit after tax
32.03
Deferred tax

outstanding claims
APPROPRIATIONS
0.44
Other assets
27.40
Dividend
General reserve
Fixed assets
25.38

TOTAL ASSETS
543.79
154.94
20.86
1.02
10.64

Current ratio
Break-up value
2012
2013
2014
2012
2013

(25.30)
(6,984.77)
(374.89)
0.95
0.64
Cash dividend
Stock dividend
-
(0)
(0)
(0)
(1)
2014
2012
2013
2014
2011
2013
Net Premium Revenue
(0)
2011
2014
20
15
10
2012
2013
2014
2014
25
2011
2013
30
2012
35
160
140
120
100
80
60
40
20
2012
0
0
0
0
0
0
0
2011
Investments
400
350
300
250
200
150
100
50
2011
Net Claims
600
500
400
300
200
100
2011
Equity Growth
600
500
400
300
200
100
-
32.03
2011
2012
2013
2014
2011
2012
2013
2014
85
TAKAFUL PAKISTAN LIMITED
Dr. Syed Arif Hussain

Vision:
Mission:
To spread Takaful benefits beyond borders,

beyond Time!
n
To deliver Takaful as a viable alternative

to conventional insurance.
To become the 'top-of-the-mind' Takaful
brand for our Participants in terms of
competitiveness, service standards and
business ethics
To give value for money to our
shareholders and make Takaful Pakistan
their prized asset.
To become an ideal organization for our
employees that encourages them to achieve
self-actualization and growth.
To contribute positively and proactively
for the welfare of our society at large as
well as for the preservation of our
environment.
(Rs in million)
Premium written
Net premium revenue
Claims expense
Net claims expense
Management expense
2014
2013
274
169
152
94
3
75
9
221
161
146
102
2
70
16
COMPANY INFORMATION
1. Chairman
Mr. Tahir Naz Siddique
3. Directors
Syed Tariq Husain

Syed Abdul Razzaq
Mr. Ahmad Shuja Kidwai
Mr. Haseeb Ahmed
Dr. Mumtaz A. Hashmi
Mr. Nadeem Rafi
& CFO
5. Legal Advisors
6. Auditor
88
Mr. Jamil Ahmed

Surridge & Beecheno
Advocates, Consultants,
Attorneys
M.Yousuf Adil Saleem & Co.
Main Office
6th floor, Business Centre,

Plot No 19-1-A, Block -6,
P.E.C.H.S., Shahrah-e-Faisal,
Karachi-75400, Pakistan.
UAN:(021) 111-875-111
Tel:(+92-21) 34373171-80
(10 Lines)
Fax:(+92-21) 34373195-6
E-mail:info@takaful.com.pk
Website:www.takaful.com.pk
TAKAFUL PAKISTAN LIMITED

Balance Sheet
as at 31st December
2014
2013
2012
2011

2014
Rs. in million
Equity
Total
500
300
300
300
300
(148)
152
300
(143)
157
300
(159)
141
300
(166)
134
99
137
3
6
245
-
92
97
1
6
196
-
78
99
2
5
185
-
84
80
3
5
172
-
28
19
20
14
Other liabilities
152
147
158
152
577
519
504
471
287
282
251
239
36
39
40
58
Deferred tax

outstanding claims
27
22
21
31
Other assets
206
157
168
117
Fixed assets
14
13
16
21
577
519
504
471

Investments

TOTAL ASSETS
Current ratio
Break-up value
241
1.86
3.80
5.06
202
1.78
3.31
5.23
184
1.72
3.57
4.71
137
1.55
3.52
4.46
600
400
200
2012
2013
Investments
60
50
40
30
20
10
2012
132
(3)
Less: Net claims
94
102
78
74
Less: Expenses
22
24
19

Underwriting result
3
48
2
34
3
39
3
46
Investment income
20
23
24
27
Rental income
Other income
2012
2013
2013
2014
350
300
250
200
150
100
50
-
38
(66)
(45)
(39)
(2)
(5)
(11)
44
Profit after tax
(8)
(13)
(1)
42
Comprehensive income / (loss) for the year

APPROPRIATIONS
(3)
(1)
162
175
177
135
152
162
175
177
55.48
(4.48)
12.78
1.97
(0.25)
-
63.33
(8.23)
14.88
1.21
(0.44)
-
56.71
(0.63)
13.64
1.93
(0.03)
-
55.78
32.00
4.99
2.49
1.41
-
Profit before tax

Dividend
General reserve

Cash dividend
Stock dividend
Net Premium Revenue
200
150
100
50
2011
2014
2012
2013
2014
2011
2013
2014
1
1
20
10
(10)
(20)
2014
2012
30
2013
3
(66)
40
2012
2
(70)
(54)
50
2011
1
(75)
Exchange gain
70
2011
138
1
120
100
80
60
40
20
2011
2014
2011
161
1
Net Claims
160
155
150
145
140
135
130
125
120
2012
169
(2)
Equity Growth
800
2011
Revenue account
Net premium revenue
2013
Rs. in million
2011
2012
2013
2014
2011
2012
2013
2014
89
TPL DIRECT INSURANCE

LIMITED
Mr. Saad Nissar
Mission:
Vision:
To combine aggressive strategic marketing

with efficient operational execution; providing
incomparable service and product innovations
to create sustainable value for our stakeholders.
To evolve as a dominant insurance player in
Pakistan by exploiting profitable niches through
deployment of cutting-edge technology and
proficient human capital.
(Rs in million)
Premium written
Net premium revenue
Claims expense
Net claims expense
Management expense
2014
2013
1,221
1,056
707
532
146
273
24
870
733
460
314
78
227
52
COMPANY INFORMATION
1. Chairman
Mr. Jameel Yusuf
Mr. Saad Nissar
3. Directors
Mr. Jameel Yusuf

Mr. Ali Jameel
Mr. Saad Nissar
Mr. Andrew Borda
Mr. Romain Dequesne
Mr. Adil Matcheswalla
Syed Nadir Shah
Syed Ali Hassan Zaidi
Syed Kazim Hasan
90
6. Advisors
7. Auditors
Lari & Co. Maritime &

Insurance Advocates
Main Office
11th & 12th Floor,

Centrepoint,
Off Shaheed-e-Millat
Expressway, Near KPT
Interchange Flyover,
Karachi, Postal
Code: 74900
165
TPL DIRECT INSURANCE LIMITED

Balance Sheet
as at 31st December
2014
2013
2012
2011
Rs. in million
Equity
Total
1,500.00
500.00
500.00
500.00
452.31
10.56
462.88
452.31
(13.49)
438.83
452.31
(65.01)
387.30
452.31
(84.72)
367.60
157.40
593.35
5.31
756.07
15.14
126.09
441.91
568.00
7.28
76.69
328.15
404.84
3.40
52.33
247.67
0.02
300.02
-
64.97
61.43
47.53
106.75
Other liabilities

Investments
1.56
1,299.07
1,075.54
843.07
775.92
89.84
108.35
17.77
22.06
0.63
0.35
1.02
0.51
49.94
153.24
149.27
163.06
Deferred tax
24.22

outstanding claims
23.64
5.14
11.22
2.78
87.24
57.43
32.56
24.23
Other assets
734.23
562.90
463.19
284.77
Fixed assets
313.54
188.14
168.05
244.32
TOTAL ASSETS
1,299.07
1,075.54
843.07
9.97
775.92

Current ratio
Break-up value
625.34
3.81
2.81
10.23
488.86
3.61
2.45
9.70
367.96
3.96
2.18
8.56
148.99
1.93
2.11
8.13
300
200
500
100
2012
2013
2011
2014
Investments
2012
2013
253.89
171.29
227.45
213.54
163.01

Underwriting result
146.18
99.83
78.26
113.58
64.96
87.46
46.38
72.96
13.77
6.99
6.19
8.52
Investment income
Rental income
Other income
Profit before tax

Profit after tax
APPROPRIATIONS
2013
76.44
33.16
(106.66)
(66.61)
2014
(0.57)
(62.75)
(0.77)
(35.22)
(1.24)
(25.27)
(5.21)
(30.14)
37.07
78.36
62.19
42.81
(13.02)
(26.84)
(19.49)
(13.04)
24.05
51.52
42.71
29.78
(13.49)
(65.01)
(84.72)
(114.49)
Dividend
General reserve
23.00
-
23.00
10.56
(13.49)
(65.01)
(84.72)

Commission to net premium % 1
Cash dividend
Stock dividend
50.33
2.28
25.88
3.84
0.53
-
42.83
7.02
31.01
10.67
1.14
-
40.96
6.89
34.45
10.48
0.94
23.00
-
37.76
6.56
35.93
10.22
0.66
-
Net Premium Revenue
1200
1000
800
600
400
200
2011
2012
2013
2011
2014
2012
2013
2014
25
20
15
10
5
-
2012
67.35
(108.79)
10
2011
79.10
(155.06)
Exchange gain
20
20
2014
30
40
2013
314.17
273.38
40
60
2012
531.71
Less: Expenses
50
80
2011
Less: Net claims
100
2011
453.63
-
60
120
2012
619.85
-
2014
180
160
140
120
80
60
40
20
2013
Rs. in million
733.46
-
Net Claims
400
1,000
2014
1,056.41
(5.31)
600
500
400
300
200
100
-
500
2011
Revenue account
Net premium revenue
Equity Growth
1,500

2011
2012
2013
2014
2011
2012
2013
2014
91
UBL INSURERS LIMITED
Mr. Babar Mahmood Mirza

Vision:
Mission:
Our vision is to establish a position as the

premier choice for corporate and consumer
sector.
Our mission is to become a reputable general
insurer of the country by providing dedicated
service to our customers. This will be
accomplished by recognizing the customer
needs and providing suitable products at
affordable prices and servicing the claims
within optimum time frame.
(Rs in million)
Premium Written
Net Premium Revenue
Net Claims Expense
Net Commission Income
Profit after tax
2014
2013
1,115
385
177
24
60
886
342
208
31
37
COMPANY INFORMATION
1. Chairman
Mr. Aameer Karachiwalla
2. Acting Chief Executive

Officer
3. Directors
Mr. Zameer MohammedChoudrey

Mr. Rizwan Pervez
Mr. Ali Sameer Farooqui
Mr. Sharjeel Shahid
Mr. Abdul Sattar Vaid
Mr. Abdul Sattar Vaid
Mr. Nadeem Raza
6. Legal Advisor
M/s. Warsi Associates
92
7. Auditors
M/s. KPMG Taseer Hadi & Co.
Main Office
126-C, Jami Commercial,

Street No. 14, Phase VII,
DHA, Karachi.
173
UBL INSURERS LIMITED

Balance Sheet
as at 31st December
2014
2013
2012
2011

2014
Rs. in million
Equity
1,500.00

Discount on issue of Right shares
Total
Other Liabilities
1,500.00
1,500.00 1,500.00
1,152.17 1,152.17 1,152.17 1,152.17

(352.17) (352.17) (352.17) (352.17)
(46.95) (106.27) (142.38) (171.16)
753.05
693.73
657.62
628.84

Investment
(207.70)
(190.52)
(165.57)
(128.14)
(100.20)
(83.54)
(82.16)
24.40
104.71
31.45
65.17
35.49
39.45
28.33
33.35
74.61
70.95
72.50
70.92

Underwriting result
32.88
720.74
91.32
91.60
70.29
55.90
157.23
69.89
55.27
44.01
Exchange gain / (loss)

1,748.47
183.32
231.03
27.60
14.77
1.01
0.96
1.00
0.96
509.28
395.12
593.44
513.79
Investment Income
Rental Income
Other Income
3.75
(0.77)
4.09
4.50
(81.18)
(81.98)
(74.40)
(74.79)
(0.11)
1.88
(0.05)
(0.64)
(2.93)
(9.92)
2.14
0.00
(0.01)
Profit / (loss) before tax
101.78
55.25
41.59
33.35
(41.95)
(18.72)
(12.77)
94.58
59.83
36.53
28.82
127.93
1,503.90 1,353.49
80.33
98.03

Outstanding Claims
461.89
422.44
310.12
266.18
48.16
33.09
27.42
21.73
Other Assets
799.83
546.52
419.62
403.24
Fixed Assets
57.51
56.64
44.36
34.80

Other comprehensive income / loss
(0.50)
(0.42)
(0.04)
0.79
Total comprehensive income for the year
59.32
36.11
28.78
128.72
(106.27)
(142.38)
(171.16)
(299.87)
APPROPRIATIONS
Dividend
Share Issue Cost
General Reserve
TOTAL ASSETS
2,082.78
1,748.47
1,503.90 1,353.49

Current Ratio
Break-up Value
618.33
1.75
2.77
6.54
529.30
1.79
2.52
6.02
247.75
1.49
2.29
5.71
255.75
1.60
2.15
5.46
800
2,000
750
1,500
700
1,000
500
2013
(106.27)
(142.38)
(171.16)
45.88
15.53
33.27
(6.33)
0.52
-
60.80
10.69
29.33
(9.21)
0.32
-
68.53
10.37
30.05
(12.76)
0.25
-
65.51
50.61
32.51
(11.21)
1.11
-
Net Claims
400
300
150
100
550
50
Investments
2012
2013
200
100
2011
2014
500
200
400
150
300
2011
2012
2013
2014

1
1
100
80
60
40
50
100
2014
120
100
200
2013
140
250
600
2012
700
Net Premium Revenue
500
200
2011
(46.95)
600
2014

Cash Dividend
Stock Dividend
250
650
Balance Unappropriated profit at end of year
Equity Growth
2,500
2012
(176.74)
Less: Expenses
37.37
893.26
62.68
2011
Less: Net Claims
45.95
1,081.18
21.79
252.75
-
328.54
271.03
25.18
624.74
Deferred Tax
278.02
-
384.04
303.81
2,082.78
2011
341.61
-
509.2
346.69
2012
385.19
-
578.17
457.06
Borrowings
REVENUE ACCOUNT
Net Premium Revenue
2013
Rs. in million
20
-
2011
2012
2013
2014
2011
2012
2013
2014
2011
2012
2013
2014
2011
2012
2013
2014
93
THE UNITED INSURANCE

COMPANY OF PAKISTAN LIMITED
Mr. Mohammed Rahat Sadiq
Vision:
Mission:
A first class Insurance Company / Window Takaful

Operator to provide cost effective risk management
solutions to its policyholder / participants through
highest level of quality.
For our customers
To provide superior services through high
quality business solutions and health
protection, Based on expert advice and
financial management and adding value
to all the corporate and non Corporate
customers.
For our Members
n
To maximize the members' value by
optimum utilization of resources.
For our Employees
n
To provide opportunities for self
development in a highly challenging
performance oriented work environment.
For the Society

To ensure good governance by maintaining
high ethical standards and risk coverage.
For the Government
n
Prompt and timely liquidation of liabilities
and adherence to the policies established.
n
(Rs in million)
Premium written
Net premium revenue
Claims expense
Net claims expense
Management expense
2014
2013
2,475
1,537
1,285
419
111
378
461
1,724
1,109
837
323
62
287
257
COMPANY INFORMATION
1. Chairman
Chaudhary Habib-ur-Rehman
Mr. Mohammed Rahat Sadiq
3. Director/President
Mr. Khawas Khan Niazi

Miss Huma Waheed
Ch .Maqsood Ahmad
Ch. Najeebur Rahman
Ch Aziz-ur Rahman
4. Deputy Managing Director

/Company Secretary
Mr. Zia Hassan Zuberi
Mr. Maqbool Ahmad
6. Legal Advisor
Mohammed Farooq Sheikh

(Advocate)
Mian Asghar Ali (Advocate)
7. Auditors
M/S Avais Hyder Liaquat

Nauman
94
204,2nd Floor Madina City

Mall Abdullah Haroon
Road, Saddar Karachi.
Tel: 021-35621460-2
021-35221803-4
Fax: 021-36521459
Email:
info@theunitedinsurance.com
9. Head Office
UIG House, 6-D Upper Mall,

Lahore.
Tel:042-35776475,35776486
UAN (92-42)-111-000-014
Fax (92-42) 35776486-87
Email:
uicp@theunitedinsurance.com
842
THE UNITED INSURANCE COMPANY OF PAKISTAN LIMITED

Balance Sheet
as at 31st December
2014
2013
2012
2011
2000

Total
Other liabilities
Waqf/Participants's takaful fund
Investments
920.00
765.12
1685.12

outstanding claims
701.94
519.51
1221.45
618.21
877.88
68.91
2565.32
68.98
570.69
419.96
990.64
496.25
269.90
766.15
20.39
1516.49
58.44
151.45
670.99
64.07
886.51
66.59
71.27
397.51
34.12
502.90
44.09
530.62
189.12
130.65
81.03
65.64
22.70
31.63
50.22
1.44
4917.12
3008.20 2,106.01 1,444.39
655.28
249.66
385.22
271.52
10.41
9.96
5.91
5.98
642.63
412.49
187.75
115.40
3.01
3.16
21.13
22.24
933.88
1000 1,000.00 1,000.00
1069.72
1426.68
Deferred tax
543.32
113.42
31.03
139.47
72.93
78.66
59.76
Other assets
1904.03
1139.55
733.01
516.37
Fixed assets
555.73
551.62
547.39
362.76
72.70
25.51
33.52
59.33
4917.12
3008.20
2106.01
1444.39

TOTAL ASSETS
Net working capital
Current ratio
Break-up value
1827.21
2.10
2.92
18.32
1102.49
2.33
2.46
17.40
917.94
3.93
2.13
17.36
616.40
4.04
1.89
15.44
Revenue account
Net premium revenue
5,000
4,000
643.74
-
Less: Net claims
419.43
323.08
245.41
262.78
Less: Expenses
377.60
286.87
201.90
116.92

Underwriting result
110.60
629.07
61.71
437
33.17
302.86
32.41
231.63
63.40
34.69
41.16
18.09
1.39
1.16
0.61
0.52
Investment income
Rental income
Other income
-8
-149
-3
-146
(4.42)
(115.39)
(7.23)
(117.15)
507.94
290.55
187.47
114.48
47.05
33.17
26.36
16.54
460.89
257.38
161.12
97.93
APPROPRIATIONS
403.40
Incremental Depreciation net of deffered tax
0.89
Acturial {loss)/gain on defined benefit plan
2.78
Realization of surplus due to sale of fixed asset 0.00
Reserve for bonus share/bonus shares issued 218.06
General reserve
0.00
272.60
1.12
-2.52
6.08
131.26
186.67
0.36
(1.12)
74.44
-
191.49
0.07
96.05
-
218.06
131.26
403
74.44
272.59
96.05
193.44

Cash dividend
Stock dividend
29.14
23.22
25.88
5.57
3.67
131
31.33
20.57
25.77
4.23
2.82
74.44
40.82
15.21
18.16
5.03
1.97
96.05

Profit before tax
Profit after tax
Net Claims
2013
2014
2011
600
500
400
300
300
200
200
100
100
2013
2014
2011
2012
2013
2012
2013
2014
2011
2014
500
450
400
350
300
250
200
150
100
50
-
2012
2013
2014
400
2012
700
2011
500
100
2012
Net Premium Revenue
200
2011
2,000
1,000
Investments
500
27.29
29.99
24.57
7.20
5.01
218
1,500
2014
600
5.32
(133.85)
Exchange gain
700
6.70
(159.44)
300
1,000
2013
20.27
-199.67
400
500
2012
31.45
-237.88
1,500
2,000
2011
783.34
-
500
1,000
2012
1108.54
-
2,000
3,000
2013
Rs. in million
1536.70
-
Equity Growth
6,000
2011
2014
Rs. in million
Equity

250
200
150
100
50
2011
2012
2013
2014
2011
2012
2013
2014
95
ADAMJEE LIFE ASSURANCE

COMPANY LIMITED
Mr. Fredrik Coenrard De Beer
Vision:
Mission:
To create a superior Global Insurance

Company as the single largest player in the
market through innovation in products,
pricing, packaging and distribution thereby
revolutionizing the industry.
To deliver outstanding profitability for the
benefit of our customers, employees and
our shareholders while providing premium
services.
(Rs in million)
Premium Written
Net Premium Revenue
Net Claims Expense
Profit after tax
2014
2013
5,215
4,976
1,243
15
4,475
4,313
608
12
COMPANY INFORMATION
1. Chairman
Mr. Umer Mansha

Chief Executive:
3. Directors
Mr. Fredrik Coenrard De Beer

Mr. Umer Mansha
Mr. Raza Mansha
Mr. S.M. Jawed
Mr. Frans Georg Prinsloo
4. Corporate Secretary
Mr. Jalaluddin Meghani
5. Legal Advisor
Mr. Junaid Ghaffar
6. Appointed Actuary
M/s. Alchemy Associates
98
7. Auditors
M/s. KPMG Taseer Hadi & Co
First Floor Stock Exchange

Towers, 55-B, Jinnah
Avenue Blue Area, Islamabad.
9. Main Offices
Suite No. 301, 3rd Floor the

Forum, Plot G-20, Block 9
Clifton, Karachi.
10. No of Employees
183
ADAMJEE LIFE ASSURANCE COMPANY LIMITED

Balance Sheet
Rs. in million
as at 31st December
Statutory Fund
Share
holders
Fund
Investment Conventional
Pension
Linked
Business
Business
Business
(Unit Linked)
Accident
& Health
Business
Aggregate
2014
Aggregate
2013
1,000.00
1,000.00
Aggregate
2012
Aggregate
2011

Authorised share capital
Issued, subscribed and paid up Share capital
1,000.00
0.00
0.00
0.00
1,000.00
600.00
935.49
0.00
0.00
0.00
935.49
935.49
735.16
534.66
(571.59)
0.00
0.00
0.00
(571.59)
(516.47)
(494.62)
(361.89)
363.90
0.00
0.00
0.00
0.00
363.90
419.02
240.54
172.77
0.00
8,092.57
163.67
0.00
0.10
8,256.34
4,966.30
2,017.69
509.59
Deferred taxation
(1.18)
0.00
0.00
0.00
0.00
(1.18)
(1.94)
(5.89)
(6.54)
41.03
403.76
124.15
0.00
0.05
568.99
422.35
240.91
201.23
Total Liabilites
39.85
8,496.33
287.82
0.00
0.15
8,824.15
5,386.71
2,252.70
704.28
403.75
8,496.33
287.82
0.00
0.15
9,188.05
5,805.73
2,493.24
877.05
10.29
498.47
63.83
0.00
0.06
572.65
335.65
225.55
127.41
0.00
3.52
0.00
0.00
0.00
3.52
0.00
0.00
0.00
264.27
7,638.19
197.16
0.00
0.09
8,099.71
5,289.12
2,129.48
609.67
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
Other assets
70.50
356.15
26.83
0.00
0.00
453.48
126.55
98.10
85.26
Tangible assets
50.19
0.00
0.00
0.00
0.00
50.19
39.30
24.27
32.88
Intangible assets
8.50
0.00
0.00
0.00
0.00
8.50
15.12
15.86
21.83
TOTAL ASSETS
403.75
8,496.33
287.82
0.00
0.15
9,188.05
5,805.74
2,493.26
877.05
662.41
8,492.59
290.54
0.00
0.15
9,445.69
5,647.63
2,501.99
886.79
Reserves & retained earnings

Net shareholders' equity

Loans
Investments (net)
BALANCE SHEET RATIOS %

Net working capital
460.66
65.62
82.74
11.45
Current ratio
1.81
1.18
1.34
1.06
Total assets / net equity
25.25
13.44
10.36
5.08
Break -up value
3.89
4.48
3.27
3.23*
* The company is in initial years of operations and thus there is significant contribution flowing from shareholders' fund towards statutory fund due to cost of new business development and acquisition.
99

Revenue Account
Rs. in million
Statutory Fund
Pension
Linked
Business
Business
Business
(Unit Linked)
Accident
& Health
Business
Aggregate
2014
Aggregate
2013
Aggregate
2012
Aggregate
2011
Net premium income
4,837.67
138.76
0.00
0.00
4,976.43
4,312.69
2,190.44
791.95
Net investment income
1,027.87
21.07
0.00
0.01
1,048.95
316.86
154.51
22.80
Net rental income
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
Total net income
5,865.54
159.83
0.00
0.01
6,025.38
4,629.55
2,344.95
814.75
Net claims
1,181.26
62.14
0.00
0.00
1,243.40
608.12
154.99
29.72
Net management expenses
1,390.83
65.29
0.00
0.00
1,456.12
1,212.72
822.88
559.39
2,572.09
127.43
0.00
0.00
2,699.52
1,820.84
977.87
589.11
225.65
Excess of Income over claims and expenditure
3,293.45
32.40
0.00
0.01
3,325.86
2,808.71
1,367.07
Add : Policyholder liabilities at beginning of year
4,667.45
64.70
0.00
0.01
4,732.16
1,954.68
479.56
99.48
Less : Policyholder liabilities at end of the period
7,885.24
101.21
0.00
0.00
7,986.45
4,824.67
1,954.68
479.56
75.66
(4.11)
0.00
0.02
71.51
(61.28)
(108.04)
(154.44)
380.08
Surplus/(Deficit)
3,217.80
36.51
0.00
(0.01)
3,254.30
2,870.00
1,475.11
44.71
25.41
0.00
0.09
70.21
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
33.94
141.03
184.46
Balance of statutory fund at beginning of year
4,754.40
105.85
0.00
0.00
4,860.25
2,017.69
509.59
99.48
Balance of statutory fund at end of the period
8,092.57
163.66
0.00
0.10
8,256.33
4,860.35
2,017.69
509.59
Transfers to or from shareholders' fund

Capital contribution from share holders' fund
Represented by:
Capital contributed by shareholders' fund
Retianed earnings on other than participating business
Balance of statuory fund
462.18
178.12
0.00
1.51
641.81
571.69
537.75
396.72
7,885.24
101.21
0.00
0.00
7,986.45
4,824.67
1,954.68
479.56
(254.85)
(115.67)
0.00
(1.41)
(371.93)
(536.01)
(474.73)
(366.69)
8,092.57
163.66
0.00
0.10
8,256.33
4,860.35
2,017.69
509.59
REVENUE ACCOUNT RATIOS %

24.99
14.10
7.08
3.75
7.51
Surplus / Deficit to net premium
1.44
(1.42)
(4.93)
(19.50)
(71.64)
Net Management expenses to net premium
29.26
28.12
37.57
70.63
126.16
* The company is in initial years of operations and thus there is significant contribution flowing from shareholders' fund towards statutory fund due to cost of new business development and acquisition.
100

2014

2013
2012
2011
30.74
26.53
16.04
18.84
3.12
1.39
6.89
13.22
33.86
27.92
22.93
32.06
3.17
1.65
37.03
29.57
22.93
32.06
(18.34)
(13.01)
(13.91)
(10.28)
18.69
16.56
9.02
21.78
18.69
16.56
9.02
21.78
Taxation
(3.68)
(4.47)
(0.72)
(3.31)
15.01
12.09
8.30
18.47
55.22
43.13
34.83
16.36

Transfer to general reserve ((attributable to previous year)
Transfer to bonus shares (attributable to previous year)
Proposed dividend (attributable to previous year)
Capital (Contributed) / withdrawn
15.01
0.00
0.00
0.00
12.09
0.00
0.00
0.00
8.30
0.00
0.00
0.00
18.47
0.00
0.00
0.00
70.23
55.22
43.13
34.83
0.16
0.00
0.00
0.15
0.00
0.00
0.13
0.00
0.00
0.35
0.00
0.00

Changes in fair value of derivative financial instrument/impairment
Total investment income
Other revenue
Add: Surplus appropiated to shareholders fund from ledger A/C D
Extra ordinary Items deferred tax
APPROPRIATIONS

Earning per share
Cash Dividend
Bonus Shares
450
400
350
300
250
200
150
100
50
0
8000
6000
4000
2000
0
2011
2012
2013
2014
8000
6000
4000
2000
0
2012
2013
2012
2013
2014
2011
2014
600
350
300
250
200
150
100
50
0
2011
2012
2013
2012
2013
2011
2014
10,000
2011
6000
5000
4000
3000
2000
1000
0
1600
1400
1200
1000
800
600
400
200
0
2011
Investments
12,000
Net Premium Revenue
Net Claims
Equity Growth
10000
2014
20
18
16
14
12
10
8
6
4
2
0
2012
2013
2014
1
0.9
0.8
0.7
0.6
0.5
0.4
0.3
0.2
0.1
0
2011
2012
2013
2014
2011
2012
2013
2014
101
EAST WEST LIFE ASSURANCE

COMPANY LIMITED
Mr. Maheen Yunus
Vision:
Mission:
Our vision is to be the number one provider of

wide-ranging insurance solutions to all of
Pakistan, a goal we will attain while observing
the principle values that have served us well
since inception.
To provide the right solutions that are in tune with our customer's
needs, while facing up to the emerging challenges in the industry.
To provide high quality, competitive insurance

products and services through qualified,
professional and committed salespersons.
To develop awareness of insurance need, build confidence in

the insurance industry and also to develop the concept of saving.
To maintain financial strength for the benefit of

our corporate and individual insurers,
shareholders, agents/salespersons and employees.
To earn and protect public trust of the
communities where we live and works and
contributing to charities.
To create a challenging environment and develop
a sense of accomplishment for our employees
through tools and training to achieve personal
growth and contribute to our organization.
To help individuals and families financially realize their hopes

and dreams and be there when they need us most.
To innovate and develop ideas to design new products for our

valued corporate and individual clients to effectively meet their
ever-changing needs.
(Rs in million)
Premium Written
Net Premium Revenue
Net Claims Expense
Profit After Tax
2014
2013
225
143
121
13
261
220
118
34
To serve the nation by increasing the rate of

literacy through our East West Life Educational
Security Schemes for children and their parents.
COMPANY INFORMATION
1. Chairman
Chief Justice (R)

Mian Mahboob Ahmad
2. Chief Executive Officer: Mr. Maheen Yunus,

3. Directors
Mr. A. K. M. Sayeed
Mr. Umeed Ansari
Mr. Javed Yunus
Mr. Pervez Yunus
Mr. Naved Yunus
Mr. Omar P. Yunus
Mr. Sohail Nazeer
5. Legal Advisor
Saiyed Younus Saeed
Mr. Shujat Siddiqui

M/s Akhtar and Hasan (Pvt) Ltd.
102
7. Auditors
BDO Ebrahim & Company
28, Regal Plaza, M.A. Jinnah

Road, Quetta.
Phone: (081) 2822913, 2821397
Fax: (92-81) 2821460
9. Head Office
310 EFU House, 3rd Floor

M.A. Jinnah Road
Karachi, Pakistan
Phone: (021) 32311662/5
32310726, 32310904
32310375, 32315723
Fax: (92-21) 32311667
10.No. of Employees
44
EAST WEST LIFE ASSURANCE COMPANY LIMITED

Balance Sheet
Rs. in million
as at 31st December
Statutory Fund
Share
holders
Fund
Pension
Linked
Business
Business
Business
(Unit Linked)
Accident
& Health
Business
Aggregate
2014
Aggregate
2013
600.00
600.00
Aggregate
2012
Aggregate
2011

600.00
0.00
0.00
0.00
0.00
600.00
600.00
594.29
0.00
0.00
0.00
0.00
594.29
594.29
500.46
500.46
(363.80)
0.00
0.00
0.00
0.00
(363.80)
(382.82)
(411.90)
(376.33)
230.49
0.00
0.00
0.00
0.00
230.49
211.47
88.56
124.13
Advance Against Equity
0.00
0.00
0.00
0.00
0.00
0.00
0.00
24.00
0.00
0.00
202.41
22.99
0.00
21.91
247.31
269.04
238.39
238.38
Deferred taxation
0.01
0.00
0.08
0.00
0.00
0.09
0.00
0.00
0.00
2.18
59.65
36.74
0.00
2.87
101.43
72.49
62.91
55.80
Total Liabilites
2.19
262.05
59.81
0.00
24.78
348.84
341.53
325.31
294.18
232.68
262.05
59.81
0.00
24.78
579.33
553.00
413.86
418.30
55.02
147.65
3.42
0.00
1.22
207.32
188.81
136.06
154.86
0.02
0.00
0.16
0.00
0.02
0.20
0.70
0.64
7.91
149.87
106.87
18.16
0.00
10.00
284.90
277.69
202.03
186.59
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
Other assets
2.79
7.53
38.07
0.00
13.54
61.94
57.49
42.32
31.72
24.97
0.00
0.00
0.00
0.00
24.97
28.14
32.50
36.94
0.00
0.00
0.00
0.00
0.00
0.00
0.17
0.30
0.27
232.68
262.05
59.81
0.00
24.78
579.33
553.00
413.86
418.30
Net working capital
168.03
174.51
116.11
138.70
Current ratio
2.66
3.41
2.85
3.49
2.51
2.62
4.67
3.37
Break -up value
3.91
3.58
1.50
2.10


Loans
Investments (net)
Tangible assets
Intangible assets
TOTAL ASSETS
103

Revenue Account
Rs. in million
Statutory Fund
Linked
Business
Business
Accident
& Health
Business
Aggregate
2014
Aggregate
2013
Aggregate
2012
Aggregate
2011
Net premium income
22.56
26.89
93.13
142.58
219.57
181.27
178.69
17.21
2.62
1.09
20.92
13.49
16.31
21.86
Net rental income
0.00
0.00
0.00
0.00
0.00
0.00
0.00
Total net income
39.78
29.51
94.21
163.50
233.06
197.58
200.55
Net claims
24.20
31.80
64.97
120.97
118.44
162.13
124.52
16.48
5.17
25.76
47.41
55.78
63.59
65.88
40.68
36.96
90.74
168.38
174.22
225.72
190.40
(0.91)
(7.45)
3.48
(4.88)
58.84
(28.14)
10.15
195.39
24.09
39.11
258.59
232.55
228.46
211.58
202.17
20.29
20.46
242.92
258.58
232.56
228.46
(7.69)
(3.64)
22.13
10.79
32.81
(32.25)
(6.73)
6.78
(3.81)
(18.65)
(15.67)
26.03
4.10
16.88
7.40
2.63
(26.88)
10.03
(28.19)
28.16
14.25
195.91
27.82
45.31
269.04
238.39
238.38
213.99
202.41
22.99
21.91
247.31
269.04
238.39
238.38
264.97
Surplus/(Deficit)
Represented by:
133.10
145.96
0.00
279.06
269.03
293.13
(132.86)
(143.25)
1.45
(274.66)
258.58
232.56
228.46
202.17
20.29
20.46
242.92
(258.57)
(287.29)
(255.04)
202.41
22.99
21.91
247.31
269.04
238.39
238.38
84.84
53.94
89.44
69.69

7.57
14.94
(17.79)
(3.77)
33.25
25.40
35.08
36.87
104

2014

2013
2011
2012
13.25
10.37
8.35
11.36
5.47
6.01
3.36
18.72
16.38
11.71
3.31
(2.84)
11.84
0.03
1.16
0.46
0.15
18.75
17.54
12.16
11.99
17.24
-17.42
-16.78
(18.35)
1.51
0.11
(4.61)
(6.36)
26.88
4.10
28.39
4.21
(4.61)
(6.36)
0.66
0.77
(2.80)
(2.22)
29.05
4.98
(7.41)
3.20
(382.82)
29.05
(411.90)
4.98
(376.33)
(7.41)
(305.59)
3.20
(10.03)
(363.80)
24.10
(382.82)
(28.16)
(411.90)
(51.10)
(353.50)
0.49
0.00
0.00
0.10
0.00
0.00
(0.15)
0.00
0.00
0.07
0.00
0.00

Other revenue

Taxation
APPROPRIATIONS
Earning per share
Cash Dividend
Bonus Shares
Equity Growth
800
150
400
100
50
200
0
2011
2012
2013
2014
2011
Investments
2012
2013
2014
250
50
0
2011
150
2014
50
50
-8
2011
2012
2013
2011
2014
2011
2012
2013
2012
2013
2014
16
100
2013
24
100
2014
2012
32
150
2013
100
200
200
2012
150
40
250
2011
200
300
Net Premium Revenue
250
180
160
140
120
100
80
60
40
20
0
200
600
Net Claims
250
2014
1
0.9
0.8
0.7
0.6
0.5
0.4
0.3
0.2
0.1
0
2011
2012
2013
2014
105
EFU LIFE ASSURANCE LTD
Mr. Taher G. Sachak

Vision:
Mission:
Our Vision is to make EFU Life one of the most

respected and successful financial services
organization in the world. Our strategy to achieve
our vision is: build our core capabilities, serve
our clients beyond their expectations, adhere to
our core values and be a good corporate citizen.
We shall together build EFU Life into a dynamic
and financially sound institution by:
Working together as a team
Continually improving our client services
Creating an empowered and self fulfilling
culture
Developing innovative products
Adopting leading technology
n
n
n
(Rs in million)
Premium written
Net premium revenue
Gross claims
Net claims expense
Commission expense
Management expense
2014
2013
18,220
17,596
5,184
4,714
2,775
967
951
14,059
13,366
3,992
3,484
2,458
864
929
n
n
COMPANY INFORMATION
1. Chairman:
Mr. Rafique R. Bhimjee

Chief Executive
Mr. Taher G. Sachak
3. Directors

Mr. Jahangir Siddiqui
Mr. Muneer R. Bhimjee
Mr. Heinz Walter Dollberg
Mr. Syed Salman Rashid
Mr. Kamal Afsar
Syed Shahid Abbas
5. Legal Advisor
Mr. Mohammad Ali Sayeed
106
7. Auditor
Mr. Omer Morshed

Chartered Accountants,
Al-Malik Centre,
70 W, F-7/G-7 Jinnah Avenue
(Blue Area), Islamabad
9. Main Office
37-K, Block 6, P.E.C.H.S.,

Karachi
10. No of Employees
1,272

Balance Sheet
Rs. in million
as at 31st December
Statutory Fund
Share
holders
Fund
Pension
Linked
Business
Business
Business
(Unit Linked)
Accident
& Health
Business
Aggregate
2014
Aggregate
2013
Aggregate
2012
Aggregate
2011

1,500.00
0.00
0.00
0.00
0.00
1,500.00
1,000.00
1,000.00
0.00
0.00
0.00
0.00
1,000.00
1,834.27
0.00
0.00
0.00
0.00
1,834.27
2,834.27
0.00
0.00
0.00
0.00
0.00
60,533.35
663.54
22.36
Deferred taxation
14.90
0.00
0.00
52.50
2,337.02
Total Liabilites
67.40

Loans
Investments (net)
1,000.00
1,000.00
1,000.00
850.00
850.00
1,533.37
1,244.26
882.64
2,834.27
2,533.37
2,094.26
1,732.64
3.12
61,222.37
43,582.65
0.00
0.00
14.90
16.30
14.60
11.75
734.20
1.83
31.40
3,156.95
2,971.93
2,041.52
1,871.47
62,870.37
1,397.74
24.19
34.52
64,394.22
46,570.89
35,800.05 26,297.42
2,901.67
62,870.37
1,397.74
24.19
34.52
67,228.49
49,104.26
37,894.31 28,030.06
143.21
7,035.64
451.49
7.06
28.97
7,666.37
7,614.05
1,723.57
1,141.46
71.30
75.32
60.59
56.49
71.30
33,743.93 24,414.21
1,687.91
53,098.13
726.66
16.65
5.23
55,534.58
39,585.72
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
Other assets
611.74
2,040.51
219.58
0.48
0.32
2,872.64
1,018.94
774.70
1,248.17
Tangible assets
381.31
696.09
0.00
0.00
0.00
1,077.40
797.15
590.24
441.01
6.20
0.00
0.00
0.00
0.00
6.20
13.08
16.86
9.40
2,901.67
62,870.37
1,397.74
24.19
34.52
67,228.49
49,104.26
Net working capital
7,453.36
5,736.37
517.34
Current ratio
3.36
2.93
1.25
1.31
23.72
19.38
18.09
16.18
Break -up value
28.34
25.33
24.64
20.38
Intangible assets
TOTAL ASSETS
34,728.35 25,133.54
37,894.31 28,030.06

574.65
107

Revenue Account
Rs. in million
Statutory Fund
Pension
Linked
Business
Business
Business
(Unit Linked)
Accident
& Health
Business
Aggregate
2014
Aggregate
2013
Aggregate
2012
Aggregate
2011
Net premium income
16,231.45
1,361.78
1.32
1.39
17,595.94
13,365.48
11,301.62
9,597.26
10,304.88
107.39
2.75
0.47
10,415.49
5,503.04
5,186.87
2,456.79
0.00
0.00
0.00
0.00
0.00
0.00
26,536.33
1,469.17
4.07
1.86
28,011.43
18,868.51
Net rental income

Total net income
16,488.49 12,054.05
Net claims
3,882.83
830.99
0.53
0.02
4,714.37
3,483.94
2,625.30
2,360.78
4,237.21
446.14
0.14
0.77
4,684.26
4,235.49
3,405.13
3,284.77
8,120.04
1,277.13
0.67
0.79
9,398.63
7,719.43
6,030.44
5,645.54
18,416.29
192.04
3.40
1.07
18,612.80
11,149.09
10,458.05
6,408.51
42,509.82
310.27
18.91
3.02
42,842.02
33,009.37
23,920.77 18,573.83
59,490.51
408.15
22.00
2.60
59,923.26
42,842.02
33,009.37 23,920.77
1,435.60
94.16
0.31
1.49
1,531.56
1,316.44
1,369.45
1,061.57
16,980.69
97.88
3.09
(0.42)
17,081.24
9,832.65
9,088.60
5,346.94
(951.67)
(19.68)
(0.18)
(1.55)
(973.08)
(1,310.37)
(1,128.33)
(859.78)
43,068.72
491.18
19.15
3.60
43,582.65
33,743.93
24,414.21 18,865.48
60,533.35
663.53
22.37
3.12
61,222.37
43,582.65
33,743.93 24,414.21
Surplus/(Deficit)

Represented by:
0.00
0.00
0.00
0.00
0.00
0.00
59,490.51
408.15
22.00
2.60
59,923.26
42,842.02
1,042.84
255.38
0.37
0.52
1,299.11
740.63
60,533.35
663.53
22.37
3.12
61,222.37
43,582.65
0.00
0.00
33,009.37 23,920.77
734.56
493.44
33,743.93 24,414.21

26.79
26.07
23.23
8.70
9.85
12.12
11.06
26.62
31.69
30.13
34.23
108
24.60

2014
139.48
99.28
90.46
65

(2.15)
337
476.00
8.12
10
106.67
2
179
277.80
(37)
29.79
17.42
20.00
20.07
15.80
493.42
126.67
297.86
45.60
(43.13)
(38.73)
(33.72)
(24.56)
450.29
87.95
264.14
21.03
973.08
1,310.37
1,128.33
859.78
1,423.37
1,398.31
1,392.47
880.82
(472.47)
(469.20)
(478.35)
(302.45)
950.90
929.11
914.12
578.37
1,032.87
950.90
(250.00)
0.00
(650.00)
1,011.76
929.11
(268.00)
(150.00)
(490.00)
650.14
914.12
0.00
0.00
(552.50)
496.78
578.37
(425.00)
1,083.77
1,032.87
1,011.76
650.14
9.51
75.00
-
9.29
6.50
-
9.14
5.50
17.64
6.80
5.00
-
Other revenue
Taxation
2013
2012
2011
APPROPRIATIONS
Earning per share
Cash DividendRupees
Bonus Shares
Equity Growth
80000
60000
40000
20000
0
2011
2012
2013
2014
4000
3000
2000
1000
0
2012
2013
2014
40000
30000
20000
10000
2011
2012
2011
2013
2014
2012
2013
2014
2012
2013
2014
2011
2012
2013
2012
2013
2014
1000
900
800
700
600
500
400
300
200
100
0
2011
Net Premium Revenue
2011
9000
8000
7000
6000
5000
4000
3000
2000
1000
0
50000
20000
18000
16000
14000
12000
10000
8000
6000
4000
2000
0
5000
2011
Investments
60000
Net Claims
3000
2500
2000
1500
1000
500
0
2014
1000
900
800
700
600
500
400
300
200
100
0
2011
2012
2013
2014
109
IGI LIFE INSURANCE LIMITED
Syed Hyder Ali
Vision:
Mission:
Assure financial future today for a better

tomorrow
IGI Life provides innovative life and health
insurance as well as investment solutions
through groundbreaking innovation and
exemplary customer service, leveraging
different distributing channels.
(Rs in million)
Premium written
Net premium Revenue
Gross claims
Net claims expense
Commission expense
Management expense
Profit after tax
2014
2013
2,535
2,436
3,430
3,398
386
413
55
4,389
4,293
2,218
2,161
451
333
74
COMPANY INFORMATION
1. Chairman
7. Auditors

Chief Executive:
Syed Hyder Ali
8. Registered Office / P.O Box No. 10528, Floor 13

Main Office
(Level 16) Dolmen Executive
Tower, Block-4, Clifton, Karachi.
Phones: +92(21) 111-111-711
Fax: +92(21) 35290042
Email: service-pakistan@igi.com.pk,
Website: www.igilife.com.pk
3. Directors

Syed Hyder Ali
Mr. Muhammad Aminuddin
Syed Yawar Ali
Mr. Khurram Raza Bakhtayari
Mr. Ehsan A. Malik
Mr. Muhammad Kamal Syed
Mr. Muhammad Amin
5. Legal Advisor
Surridge and Beecheno
Mr. Ali Nadim
110
9. No of Employees
M.Yousaf Adil Saleem & Co.
142

Balance Sheet
Rs. in million
as at 31st December
Statutory Fund
Share
holders
Fund
Pension
Linked
Business
Business
Business
(Unit Linked)
Accident
& Health
Business
Aggregate
2014
Aggregate
2013
Aggregate
2012
Aggregate
2011

500.00
500.00
325.50
825.50
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
500.00
500.00
325.50
825.50
500.00
500.00
365.05
865.05
500.00
500.00
340.95
826.80
500.00
500.00
234.94
734.94
0.00
4,384.77
5,722.58
74.30
274.20
10,455.85
10,609.45
8,208.60
5,269.07
Deferred taxation
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
10.90
123.47
380.35
0.82
65.69
581.23
623.01
579.16
666.45
Total Liabilities
10.90
4,508.24
6,102.93
75.12
339.89
11,037.08
11,232.46
8,787.76
5,935.52
836.40
4,508.24
6,102.93
75.12
339.89
11,862.58
12,097.51
9,614.56
6,670.46
0.46
285.70
290.27
3.48
16.69
596.60
186.46
452.27
125.06
Loans
0.36
0.00
134.35
0.00
0.00
134.71
107.04
99.96
90.10
678.38
4,080.12
5,357.84
67.68
124.18
10,308.20
11,152.34
8,536.48
5,833.57
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
126.61
141.45
309.36
3.80
198.42
779.63
607.53
464.91
561.51
Tangible assets
28.96
0.97
11.12
0.17
0.59
41.81
43.70
59.77
58.78
Intangible assets
1.63
0.00
0.00
0.00
0.00
1.63
0.44
1.19
1.43
836.40
4,508.24
6,102.93
75.12
339.89
11,862.58
12,097.51
9,614.56
6,670.46
929.71
2.60
14.37
16.51
278.02
1.45
13.98
17.30
437.98
1.76
11.63
16.54
110.21
1.17
9.08
14.70
Investments (net)
Other assets
TOTAL ASSETS
Net working capital
Current ratio
Break -up value
111

Revenue Account
Rs. in million
Statutory Fund
Pension
Linked
Business
Business
Business
(Unit Linked)
Accident
& Health
Business
Aggregate
2014
Aggregate
2013
Aggregate
2012
Aggregate
2011
Net premium income
704.27
1,188.80
109.01
434.31
2,436.39
4,292.67
4,081.15
2,905.58
804.39
661.05
11.37
35.89
1,512.70
1,052.43
945.47
589.62
0.00
0.00
0.00
0.00
Net rental income

Total net income
1,508.66
1,849.85
120.39
470.19
3,949.10
5,345.10
5,026.62
3,495.21
Net claims
2,504.60
501.17
48.40
344.69
3,398.85
2,161.22
1,239.92
629.52
187.94
510.97
0.70
99.14
798.74
783.63
756.67
729.61
2,692.53
1,012.13
49.10
443.83
4,197.59
2,944.84
1,996.59
1,359.13
(1,183.87)
837.72
71.29
26.37
(248.49)
2,400.26
3,030.03
2,136.08
5,554.83
4,343.30
0.04
149.37
10,047.53
7,831.93
4,927.63
2,978.46
4,253.67
5,101.16
70.26
169.46
9,594.54
10,047.53
7,831.93
4,927.63
117.29
79.86
1.08
6.27
204.50
184.66
125.73
186.91
(1,301.16)
757.86
70.22
20.10
(452.99)
2,215.60
2,904.30
1,949.17
0.00
33.10
0.00
61.80
94.90
(35.00)
(125.00)
(135.00)
0.00
0.00
0.00
0.00
0.00
35.60
34.50
50.50
5,568.64
4,851.76
3.01
186.04
10,609.45
8,208.60
5,269.07
3,238.86
4,384.77
5,722.58
74.30
274.20
10,455.85
10,609.45
8,208.60
5,290.44

Surplus/(Deficit)
Represented by:
Retained earnings on other than participating business
117.10
257.55
6.00
90.80
471.45
376.55
340.95
306.45
4,253.67
5,101.16
70.26
169.46
9,594.54
10,047.53
7,831.93
4,927.63
14.00
363.87
(1.96)
13.94
389.86
185.36
35.71
56.36
4,384.77
5,722.58
74.30
274.20
10,455.85
10,609.45
8,208.60
5,290.44
139.50
50.35
30.38
21.67
8.39
4.30
3.08
6.43
32.78
18.26
18.54
25.11
112

2014
2013
2012
2011
86.03
85.19
69.30
54.72
3.36
1.55
1.19
0.57
89.39
86.74
70.49
55.29
5.89
4.42
10.39
0.19
95.28
91.16
80.88
55.48
12.67
14.27
9.45
6.92
Profit / (Loss) before appropriation of surplus to shareholders fund
82.62
76.89
71.43
48.56

Other revenue
Add: Surplus appropriated to shareholders fund from ledger A/C D

0.00
35.00
125.00
135.00
82.62
111.89
196.43
183.56
(27.26)
(38.04)
(70.07)
(67.31)
55.35
73.85
126.36
116.25
316.46
242.61
116.25
55.35
73.85
126.36
116.25
371.81
316.46
242.61
1.11
1.48
2.53
2.32

Taxation
APPROPRIATIONS
Balance unappropriated profit at the end of the year
Earning per share
Cash Dividend
Bonus Shares
850
800
750
700
650
2012
2013
2014
2011
Investments
2012
2013
10,000
8,000
6,000
4,000
2,000
0
2013
2014
2012
2013
2014
100
80
60
40
20
0
2012
2013
2014
2011
2012
2013
2012
2013
2014

1
0.9
0.8
0.7
0.6
0.5
0.4
0.3
0.2
0.1
0
120
2011
2011
140
700
600
500
400
300
200
100
0
2012
2011
2014
12,000
2011
5000
4500
4000
3500
3000
2500
2000
1500
1000
500
0
4000
3500
3000
2500
2000
1500
1000
500
0
900
2011
Net Premium Revenue
Net Claims
Equity Growth
14,000
12,000
10,000
8,000
6,000
4,000
2,000
0
2014
2010
2011
2012
2013
113
JUBILEE LIFE INSURANCE

COMPANY LIMITED
Mr. Javed Ahmed
Vision:
Enabling people to overcome uncertainty
Mission:
To provide solutions that protect the financial

future of our customers
Core Values: Teamwork, Integrity, Excellence and Passion
(Rs in million)
Premium written
Net premium revenue
Gross claims
Net claims expense
Commission expense
Management expense
2014
2013
21,823
21,086
5,612
5,083
3,601
6,115
17,077
16,350
4,196
3,647
3,061
4,974
COMPANY INFORMATION
1. Chairman
Mr. Kamal A. Chinoy
Nauman Associates

Mr. Javed Ahmed
7. Auditors
Mr.Aly Noor Mahomed

Rattansey
Mr.Rafiuddin Zakir Mahmood
Mr.Ayaz Ahmed
Mr.Sultan Ali Akbar Allana
Mr.John Joseph Metcalf
26-D, 3rd Floor, Kashmir Plaza,

Jinnah Avenue, Blue Area,
Islamabad, Pakistan
9. Head Office
74/1-A,Lalazar, M.T . Khan

Road, Karachi-74000.
Mr. Najam Ul Hassan Janjua
10. No of Employees
962
5. Legal Advisors
Kabraji & Talibuddin
3. Directors
114
JUBILEE LIFE INSURANCE COMPANY LIMITED

Balance Sheet
Rs. in million
as at 31st December
Statutory Funds
Share/
holders
Fund
Individual
Life Unit
Linked
Conventional
Business
Accident
& Health
Overseas
Group Life
& Health
Business
Aggregate
2014
Aggregate
2013
Aggregate
2011
Aggregate
2012

2,000
2,000
1,000
1,000
1,000
721
721
627
627
627
2,439
2,439
1,616
1,169
803
3,160
3,160
2,243
1,796
1,430
42,518
610
820
72
44,021
29,915
19,854
12,844
Deferred taxation
316
1,402
433
255
18
2,433
2,133
1,899
1,513
Total Liabilites
325
43,920
1,043
1,075
90
46,454
32,047
21,752
14,357
3,485
43,920
1,043
1,075
90
49,614
34,291
23,548
15,788
617
4,351
94
5,071
4,945
4,582
2,250
2,214
38,160
632
846
56
41,909
28,328
18,207
12,980
Other assets
158
1,408
317
220
34
2,138
632
431
341
Tangible assets
426
426
362
308
195

Loans
Investments (net)
Intangible assets
TOTAL ASSETS
64
64
15
13
12
3,485
43,920
1,043
1,075
90
49,614
34,291
23,548
15,788
1,087

Net working capital
4,782
3,453
3,121
Current ratio
1.06
1.06
1.07
1.09
15.70
15.29
13.11
11.04
Break -up value
43.81
35.77
28.63
22.81
115

Revenue Account
Rs. in million
Statutory Funds
Individual
Life Unit
Linked
Net premium income

Accident
& Health
Overseas
Group Life
& Health
Business
Aggregate
2014
Aggregate
2013
Aggregate
2011
Aggregate
2012
18,536
919
1,610
21
21,086
16,350
11,501
7,757
5,844
105
98
6,053
3,550
2,668
1,258
24,380
1,025
1,707
27
27,139
19,900
14,169
9,015
Net rental income

Total net income
Conventional
Business
Net claims
3,297
551
1,227
5,083
3,647
2,252
1,770
5,592
325
195
6,115
4,974
4,257
3,014
8,890
876
1,422
10
11,198
8,621
6,510
4,785
15,491
149
285
16
15,941
11,279
7,659
4,230
28,414
300
298
29,012
19,337
12,579
8,976
41,912
320
461
42,693
29,012
19,337
12,579
1,993
130
122
16
2,261
1,604
901
627
13,498
20
163
13,681
9,675
6,758
3,602
(1,775)
(100)
(5)
(1,880)
(1,273)
(650)
(530)
(5)
50
45
55
28,802
561
540
11
29,915
19,854
12,844
9,144
42,518
610
820
72
44,021
29,915
19,854
12,844
Surplus/(Deficit)
Represented by:
50
50
100
55
41,912
320
461
42,693
29,012
19,337
12,579
606
291
309
22
1,228
847
516
265
42,518
610
820
72
44,021
29,915
19,854
12,844
22.82

17.79
59.89
76.22
37.85
24.10
22.30
19.58
10.75
14.10
7.58
79.16
10.72
9.81
7.84
8.09
30.17
35.36
12.14
11.64
29.00
30.42
37.02
38.86
116

2014

2012
2013
2011
205
1
1
207
139
2
32
172
115
24
46
185
88
1
(14)
75
216
177
188
84
(94)
(60)
(30)
(31)
121
117
158
52
1,880
1,273
650
530
2,001
1,390
808
582
(1)
Taxation
(648)
(455)
(254)
(208)
1,362
941
553
374
2,243
1,796
1,430
1,150

1,362
941
-
553
-
374
-
(400)
(45)
3,160
(439)
(55)
2,243
(188)
(94)
1,796
1,430

Earning per share
Cash Dividend
Bonus Shares
18.88
95%
0.00
13.05
60%
15.00
8.82
45%
0.00
5.97
30%
0.00
Other revenue

Profit/(Loss) before tax and after extraordinay items
APPROPRIATIONS
2012
2013
2011
2014
Investments
45000
40000
35000
30000
25000
20000
15000
10000
5000
0
2012
2013
4000
3000
2000
1000
2012
2013
2014
2011
2012
2013
15000
10000
5000
0
2012
2013
2014
2011
5000
2011
20000
2011
2014
6000
25000
6000
5000
4000
3000
2000
1000
0
3500
3000
2500
2000
1500
1000
500
0
2011
Net Premium Revenue
Net Claims
Equity Growth
60000
50000
40000
30000
20000
10000
0
2014
1600
1400
1200
1000
800
600
400
200
0
2012
2013
2014
600
500
400
300
200
100
0
2011
2012
2013
2014
2011
2012
2013
2014
117
MEMBERS
DIRECTORY

LIST OF MEMBERS WITH THE NAMES & ADDRESSES
OF THE PRINCIPAL REPRESENTATIVES
AS ON SEPTEMBER, 2015
NON LIFE
S.No
NAME OF MEMBERS
YEAR OF
Estb.
PRINCIPAL
REPRESENTATIVES
ACE Insurance Ltd.

6th Floor, NIC Building
Abbasi Shaheed Road
off : Shahrah - e -Faisal
P. O. Box No 4780
Karachi
2001
Ms. Zehra Naqvi

Chief Executive
Tel : +92-21-111-789-789
Fax : +92-21-3568 3935
email : acepak@acegroup.com
web : www.acelimited.com
Adamjee Insurance Co. Ltd.

Tanveer Building, 2nd Floor
27, C-3, Gulberg 3,
M.M. Alam Road
Lahore
1960

Managing Director & Chief Executive Officer
Tel : +92-42-35772960-79
Fax : +92-42-35772947
email : ali.zeb@adamjeeinsurance.com
web : www.adamjeeinsurance.com
Alfalah Insurance Company Ltd.

5, Saint Marry, Main Boulevard
Gulberg
Lahore.
2008
Mr. Nasar us Samad Qureshi

Chief Executive & Managing Director
Tel : +92-42-111-786-234, 3577 4313 - 6
Fax : +92-42-35774329
email : afi@alfalahinsurance.com
web : www.alfalahinsurance.com
Allianz EFU Health Insurance Limited

D-136, Block-4, KDA Scheme-5, Clifton
Karachi-75600
2015
Mr. Kamran Ansari

Tel: +92-21-111-432-584
Fax : +92-21- 35864020, 35860403
email: kamran.ansari@allianz-efu.com
web.www.allianzefu.com
Alpha Insurance Co. Ltd.

State Life Building No. 1B
2nd Floor State Life Square
Off: I.I. Chundrigar Rd. P.O Box No 4359
Karachi.
1951
Capt. Muhammad Jamil Akhtar Khan

Tel : +92-21-3241 6041 5
Fax : +92-21- 3241 9968, 3242 2478, 3242 2479
email : info@alphainsurance.com.pk
web : www.alphainsurance.com.pk
Asia Insurance Co. Ltd.

456-K, Model Town
Lahore.
1980
Mr. Ihtsham-ul-Haq Qureshi

Chairman & Chief Executive
Tel : +92-42- 35916801, 35176802, 35916803,
35832312
Fax: +92-42- 3586 5579
email : info@asiainsurance.com.pk
Askari Gen. Insc. Co. Ltd.

4th Floor, AWT Plaza
The Mall, P.O Box No. 843
Rawalpindi.
1995
Mr. Abdul Waheed

President & Chief Executive
Tel : +92-51-927 2425-27
Fax : +92-51-927 2424
email : president@agico.com.pk
web : www.agico.com.pk
120
S.No
YEAR OF
Estb.
NAME OF MEMBERS
PRINCIPAL
REPRESENTATIVES
Atlas Insurance Limited

3 - Bank Square
Shahrah-e-Quaid-e-Azam
P. O Box 1219
Lahore.
1935
Mr. Arshad P. Rana

Chief Executive
Tel : +92-42-3732 0542-43, 3732 2271-73
Fax : +92-42-3723 4742
email: info@atlasinsurance.com.pk
web : www.atlasinsurance.com.pk
Century Insurance Co. Ltd

11th Floor
Lakson Square Building No. 3
Sarwar Shaheed Road, P.O Box 4895
Karachi. 74200
1985

Chief Executive Officer & Managing Director
Tel : +92-21-3569 8525 , 111-111-717
Fax: +92-21- 3567 1665
email: info@cicl.com.pk
web : www.cicl.com.pk
10
Co-operative Insc. Society of Pak. Ltd.

Co-operative Insc. Building
23 - Shahrah-e-Quaid-e-Azam
Lahore.
1949
Ch. Akhtar Mahmood

Senior Vice-Chairman
Tel : +92-42-3735 2306, 3735 6537, 3724 2798
Fax : +92-42-3735 2794
email : finance@coinsopl.com
11
Crescent Star Ins. Co. Ltd.

2nd Floor, Nadir House
P.O.Box No 4616
I.I.Chundrigar Road
Karachi.
1957
Mr. Naim Anwar

Tel: +92-21-3241 5471-2, 32415521
Fax : +92-21-3241 5474 - 5
email : info@cstarinsurance.com
web : www.cstar.com.pk
12
East West Insurance Co. Ltd.

Office No. 401-404, Block B, 4th Floor
Lakson Square Building No. 03
Sarwar Shaheed Road
Karachi.
1983
Mr. Naved Yunus

Managing Director & Chief Executive
Tel : +92-21-35630400 - 11
Fax : +92-21-35630413 & 35630415
email: info@eastwestinsurance.com.pk
web : www.eastwestinsurance.com.pk
13
EFU General Ins. Ltd.

EFU House, M.A. Jinnah Road
P.O. Box No. 5005
Karachi. 74000
1932

Tel : +92-21-3231 3471 - 90
Fax : +92-21-3231 4288
email : info@efuinsurance.com
web : www.efuinsurance.com
14
Excel Insurance Co. Ltd.

38 - C - 1, Block - 6
P. E. C. H. S
Shahrah - e -Faisal
Karachi. 75400
1991
Mr. Mohammad Azhar Khan

Tel : +92-21-111 - 777- 666
Fax: +92-21-3454 8076
email : eicl@cyber.net.pk
web : www.globemanagements.com
15
Habib Insurance Co. Ltd

1st Floor, State Life Building # 6
Habib Square
M.A. Jinnah Road
P.O Box No 5217
Karachi
1942

Tel : +92-21-111-03-03-03
Fax : +92-21-3569 3676
email : info@habibinsurance.net
web : www.habibinsurance.net
121
S.No
YEAR OF
Estb.
NAME OF MEMBERS
PRINCIPAL
REPRESENTATIVES
16
IGI Insurance Limited

7th Floor, The Forum, Suite 701-713, G-20
Block 9, Khayaban-e-Jami, Clifton
Karachi-75600.
1953
Mr. Tahir Masaud

Tel : +92-21-3530 1726 - 8, 111-234-234
Fax : +92-21-3530 1729 & 3530 1772
email : tahir.masaud@igi.com.pk
web : www.igiinsurance.com.pk
17
Jubilee General Insurance Co. Ltd.

2nd Floor
Jubilee Insurance House
P.O.Box No 4795
I.I.Chundrigar Road
Karachi. 74000
1953
Mr. Tahir Ahmed,

Tel : +92-21-3241 6022-26, 111-654-111
Fax : +92-21-3241 6728, 3243 8738
email : info@jubileegeneral.com.pk
web : www.jubileegeneral.com.pk
18
New Hampshire Insc. Co.

1st Floor, Dadex House
34-A/1, Block 6, PECHS
Shahrah-e-Faisal
Karachi-75400.
1869
Mr. Mujib Khan

Country Manager
Tel : +92-21-35205443-4, 111-111-244
Fax : +92-21- 34169013
email : info-pakistan@aig.com
web : www.aig.com.pk
19
Pakistan Gen. Insc. Co. Ltd.

5 - Bank Square
Shahrah-e-Quaid-e-Azam
P. O. Box 1364
Lahore.
1947
Ch. Zahoor Ahmad

President & Chief Executive
Tel : +92-42-3732 3569, 3732 5382, 3732 4404
Fax : +92-42- 3723 0634, 3723 0895
email : info@pgi.com.pk
web: www.pgi.com.pk
20
PICIC Insurance Limited

1204,12th Floor, Emerald Tower
Clifton Block 5
Karachi.
2004
Mr. Jalees Ahmed Siddiqi

UAN: +92-21-111-274-242, 3514765155
Fax: +92-21-35147656
email : info@picicinsurance.com
web : www.picicinsurance.com
21
Premier Insurance Limited

5th Floor, State Life Building No 2-A
Wallace Road, P.O Box No 4140
Karachi.
1952
Mr. Mohammed Asif Arif

Tel : +92-21-3241 6331-4
Fax : +92-21- 3241 6572
email : faiza.faisal@pil.com.pk
web: www.pil.com.pk
22
Reliance Insurance Co. Ltd.

Reliance Insurance House
181 - A Sindhi Muslim cooperative Housing Society, P.O Box No 13356
Karachi.
1982
Mr. A. Razak Ahmed

Tel : +92-21-3453 9415 - 17
Fax : +92-21- 3453 9412
email : reli-ins@cyber.net.pk
web : www.relianceinsins.com
23
SPI Insurance Company Ltd.

UIG House, 6-D, Upper Mall
Lahore
2005
Mr. Muhammad Akram Shahid

Tel: +92-42-35776561-62
Fax: +92-42-35756563
email: info@spiinsurance.com.pk
web : www.spiinsurance.com.pk
122
S.No
YEAR OF
Estb.
NAME OF MEMBERS
PRINCIPAL
REPRESENTATIVES
24
Security Gen. Insc. Co. Ltd.

SGI-House, 18-C/E-1
Gulberg-III
Lahore.
1996

Tel :+92-42-3577 5024-29
Fax : +92-42-3577 5030
email : sgi@sgicl.com
25
Shaheen Ins. Co. Ltd.

10th Floor, Shaheen Complex
M. R. Kayani Road
Karachi-74200.
1996
Mr. Sohel Najam Kidwai

Tel : +92-21-3263 0370 - 75
Fax : +92-21-3262 6674
email: sihifc@cyber.net.pk
web : www.shaheeninsurance.com
26
Sindh Insurance Limited

1st Floor, Imperial Court
Dr. Ziauddin Ahmed Road
Karachi
2014
Mr. Muhammad Faisal Siddiqui

Tel : +92-21-35640715-17
Fax: +92-21- 35640714
email: nadeemakhter@sindhinsuranceltd.com
web: www.sindhinsuranceltd.com
27
Silver Star Ins. Co. Ltd.

Silver Star House, 2nd Floor
5 - Bank Square
P. O Box No 2533
Lahore-54000.
1984
Mr. Zahir Muhammad Sadiq

Tel : +92-42- 3732 4488 , 3735 5614, 3723 7518
Fax : +92-42- 3722 9966
email : zahir@ssic.com.pk
web: www.silverstarinsurance.com
28
TPL Direct Insurance Limited

11th & 12th Floor, Centrepoint
Off Shaheed-e-Millat Expressway
Near KPT Interchange Flyover
Karachi-74900.
1992
Mr. Saad Nissar

Tel : +92-21- 37130223, 111-000-301
Fax : +92-21- 35316031-2
email: info@tplinsurance.com
Web: www.tplinsurance.com
29
UBL Insurers Limited

126-C, First Floor, Jami Commercial
Street No. 14, Phase-VII, DHA
Karachi
2007

Acting Chief Executive Officer
Tel : +92-21-111-845-111
Fax No. +92-21- 35314504
email : babar.mirza@ublinsurers.com
Web : www.ublinsurers.com
30
United Ins. Co. of Pak Ltd.

UIG House, 6-D, Upper Mall
P. O. Box No 532
Lahore.
1959
Mr. Muhammad Rahat Sadiq

Tel : +92-42- 35776475-83, 35776485
UAN: 042-111-000-014
Fax : +92-42-35776486 & 35776487
email : uicp@theunitedinsurance.com
web : www.theunitedinsurance.com
123
LIFE
S.No
NAME OF MEMBERS
YEAR OF
Estb.
PRINCIPAL
REPRESENTATIVES
Adamjee Life Assurance Company Ltd.

Karachi Office
The Forum, Suite # 301, 3rd Floor
Plot G-20, Block-9, Clifton
Karachi.
2008
Mr. Fredrik Conenrard De Beer

Tel: +92-21-3536 2620 23
Fax: +92-21-3536 2621
email: jalal.meghani@adamjeelife.com
web: www.adamjeelife.com
East West Life Assurance Company Ltd.

3rd Floor, 310-EFU House
M.A. Jinnah Road
Karachi.
1992
Mr. Maheen Yunus

Tel: +92-21-3231 1662-5
Fax: +92-21-3231 1667
email: info@eastwestlifeco.com
web : www.eastwestlifeco.com
EFU Life Assurance Limited

Head Office/Main Office:
37-K, Block-6
P.E.C.H. Society
Karachi.
1992
Mr. Taher G. Sachak

Tel: +92-21-111-338-111
Fax: +92-21-3453-5079
email: info@efulife.com
web : www.efulife.com
IGI Life Insurance Limited

Dolmen City, 13th Floor (level 16)
Block 4, Scheme 5, Clifton
Karachi-75600.
1995
Syed Hyder Ali

Tel: +92-21-111-111-711
Fax: +92-21- 3529 0042
email: uzzma.rahman@igi.com.pk
web : www.igilife.com.pk
Jubilee Life Insurance Company Ltd.

Head Office/Main Office:
74/1-A, Lalazar
M.T. Khan Road
Karachi-74000
1995
Mr. Javed Ahmed

Tel: +92-21-35610960, 35205094-95
Fax: +92-21-3561 0959, 3561 0805
email: info@jubileelife.com
web : www.jubileelife.com
State Life Insurance Corporation of Pakistan 1972

State Life Building No. 9
Dr. Ziauddin Ahmed Road
Karachi-75530
124
Ms. Nargis Ghaloo

Chairperson
Tel : +92-21-99202800 9
UAN 111-111-888
Fax: +92-21- 99202820
email: mrashid@statelife.com.pk
web: www.statelife.com.pk
REINSURER
S.No
1
NAME OF MEMBERS
Pakistan Reinsurance Company Limited
PRC Towers, 32-A,
Lalazar Drive
M.T. Khan Road
Karachi
PRINCIPAL
REPRESENTATIVES
YEAR OF
Estb.
1952
Chairman
Tel: +92-21-99202908-15
Fax: +92-21- 99202920-22
email: sfklodhi@pakre.org.pk
web : www.pakre.org.pk
2006

Tel : +92-21-111-875-111
Fax : +92-21- 34373195-6
email: jamil.ahmed@takaful.com.pk
web : www.takaful.com.pk
TAKAFUL
1
Takaful Pakistan Limited

Plot No. 19-1-A, 6th Floor
Business Centre, Block-6, P.E.C.H.S.
Shahrah-e-Faisal
Karachi-75400.

HEAD OFFICE
Mr. N. A. Usmani
Secretary General
1713-1715, 17th Floor
Saima Trade Tower-A
I.I. Chundrigar Road
P.O. Box 4932
Karachi-74000
Tel : Direct : +92-21-3227 7169

PABX
Fax
email
web
:
:
:
:
+92-21-3227 7165 - 68
+92-21- 3227 7170
info@iap.net.pk
www.iap.net.pk
REGIONAL OFFICE NORTH

Mr. S. Daood Ali Shah
Secretary & Surveyor
+92-042-37423760, 35960095
Assistant Secretary
+92-042-37423783
General Office
+92-042-35040608
Fax No. +92-42-37422775
email : info.lro@iap.net.pk

Regional Office Nnorth
188-A, Opp. Rehmania Park, Shadman-I
Lahore.
125
PICTORIAL
PRESENTATION
OF IAP EVENTS
53rd ANNUAL GENERAL MEETING HELD ON FRIDAY 27TH SEPTEMBER 2014

AT THE ASSOCIATION'S OFFICE KARACHI
128
IAP ANNUAL DINNER & AWARDS CEREMONY WAS HELD ON

27TH SEPTEMBER, 2014 AT MARRIOTT HOTEL KARACHI.
Mr. Atiq Anwar Mahmudi delivering welcome Address.
Mis. Amna Faiz EMCEE the ceremony
Mr. Masood Noorani receiving memento from Mr. Tahir Ahmed
Mr. Arif Sultan Mufti receiving memento from Mr. Atiq Anwar Mahmudi
Ms Sonia Subjally, daughter of Late S.C.Subjally receiving

memento from Mr. Moin Fudda
The daughter of Late Najib Nasir Syed receiving award from

Mr. Tahir Ahmed
Mr. Daood receiving Mr. Ishaq Khans award from Mr. Atiq A. Mahmudi
Mr.Waqar Malik receiving award from Mr. Raeesuddin Paracha of SLIC
Ms. Huma Mansoor receving award from Capt. Azhar Ehtesham Ahmed
Mr. Naveed Fayyaz receving award from Mr.Rahat Sadiq
129
MR. ANWAR MAQSOOD AND HIS TEAM ENTERTAINED THE ATTENDEES WITH
HIS RENOWNED LOOSE MUSHAIRA.
130
THE IAP CELEBRATED 3RD INSURANCE DAY ON MAY 6, 2015. A PRESS BRIEFING, SEMINAR,
PANEL DISCUSSIONS, TALK SHOWS, BEACH CLEANING ACTIVITY, CRICKET TOURNAMNET
AND ESSAY COMPETITION WERE ORGANIZED IN THIS RESPECT AT KARACHI AND LAHORE.
131
IAP CRICKET TOURNAMENT 2014 HELD AT THE CRICKET GROUND OF ASGHER ALI SHAH
STADIUM KARACHI AND WAPDA SPORTS COMPLEX LAHORE
132
THE DIRECTOR INSURANCE DIVISION, SECP, SYED NAYYAR HUSSAIN MET IAP
EXECUTIVE COMMITTEE MEMBERS ON 18TH MARCH 2015 AT IAP SECRETARIAT, KARACHI.
THE IAP REPRESENTATIVES HIGHLIGHTED THE DIFFICULTIES BEING FACED BY
THE INSURANCE INDUSTRY AND DISCUSSED VARIOUS IMPORTANT ISSUED.
133
PRCL REPRESENTATIVES MET IAP'S TAXATION, LEGISLATION AND BANKING COMMITTEE

ON 9TH MARCH 2015 AT IAP OFFICE TO DISCUSS MATTERS OF MUTUAL INTEREST.
134
WORLD BANK REPRESENTATIVES MET CHAIRMAN AND SENIOR VICE CHAIRMAN, IAP
AT IAP OFFICE KARACHI ON 25TH FEBRUARY 2015 TO UNDERSTRAND PRIVATE SECTOR
INSURANCE INDUSTRY IN PAKISTAN.
135
Notes ...
136
Notes ...
137
DISCLAIMER
IAP and its staff is not responsible for any error of fact of whatoever nature and also for any loss, financial
or otherwise, resulting from business or trade or speculation conducted, or investment made on the basis of
information posted here in this year book. Reading this year book stipulates that you have also read this
disclaimer.

IAP Book 2014 15

Uploaded by

Document Information

Original Title

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

IAP Book 2014 15

Uploaded by

Copyright:

Available Formats

Insurance Year Book

INSURANCE YEAR BOOK 2014-2015

1713-1715, 17th Floor

The Insurance Association of Pakistan

Message from Chairman,The Insurance Association of Pakistan, Mr. Mahmood Lotia

Size of Insurance Market of Pakistan for 2014 - Including Public Sector.

Executive, Technical & Regional Committees Activities

Market Overview of Non Life Insurance Industry in Pakistan

Market Overview of Life Insurance Industry in Pakistan

Non Life & ReInsurance Companies

ACE Insurance Limited.

The Pakistan General Insurance Company Limited

Life Insurance Companies

Adamjee Life Assurance Company Limited

Pictorial Presentation of IAP events

Annual General Meeting (AGM)

THE INSURANCE ASSOCIATION OF PAKISTAN

associated with cargo movement through Wahgah Border

The year 2014 registered premium growth on the non-life

Celebrated 3rd Insurance Day in Pakistan on 6th May 2015

Training of Insurance Agents.

Facultative reinsurance arrangements

Related Party Assets

Valuation of Assets for the purpose of Solvency

Small Disputes Resolution Committees

Construction of IAP House commenced.

Fire Policy and Malicious Damage Endorsement have been

In the end, I would like to take this opportunity to acknowledge

Size of Insurance Market of Pakistan for 2014

Non Life Insurance

General Takaful Operators

Rs. 184 billion

Pakistan Reinsurance Company Limited

SUMMARY OF THE ACTIVITIES OF EXECUTIVE COMMITTEE

as prescribed under Rule 7. Unless the permission is granted by the

In February 2015, SECP felt need to restructure the Small

The SDRC shall have the authority to arbitrate disputes having

An Insurance Awareness Campaign was developed by IAP in

The Foundation stone of IAP House was laid by Mr. Mahmood

The SECP vide SRO 823(I)/2014 dated 16th September 2014

The IAP announced to celebrate third "Insurance Day" on the

Press Briefing at Karachi Press Club

SUMMARY OF THE ACTIVITIES OF

event at Wapda Sports Complex

During the year, various matters

- A visit to Pak Electron Limited

Standing from Left to Right:

- A visit to Nishat Processing Unit, Kahna, Lahore was arranged

Lahore Insurance Institute in collaboration with RON organized

Sports and Social Activities committee of Lahore Insurance

A short course on Property Insurance was arranged by RON

The Surveyors Exams were successfully conducted in May,

RON in collaboration with Lahore Insurance Institute organized

A Workshop on Importance & Scope of Liability Insurance in

SUMMARY OF THE ACTIVITIES OF ACCIDENT COMMITTEE

Model" and the Ministry of

SUMMARY OF THE ACTIVITIES OF LIFE COMMITTEE

Sitting from Left to Right:

Mr. Manzoor Ahmed & Mr. N.A. Usmani (Secretary General)

Reference FBR's announcement to elicit suggestions from the

In November 2014, subsequent to notices to life insurance

SUMMARY OF THE ACTIVITIES OF MARINE COMMITTEE

The Committee finalized