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Shaheen insurance company: aiming high to give pleasing insurance services

Mr. Sohel N. Kidwai
Chief Executive Officer

HISTORY OF THE PROJECT

Shaheen Insurance Company Limited was established under the Companies Ordinance, 1984, as a Public Limited Company in March 1995 and obtained the certificate of commencement of business in July 1995. It was registered with the Controller of Insurance in November in the same year to carry out non-life insurance business comprising fire, marine, motor, aviation, engineering, transportation, etc. The Company is listed on Pakistan Stock Exchange.

PRESENT STATE OF THE PROJECT

Mr. Sohel N. Kidwai

Shaheen Insurance Company is a nationwide General Insurance Company currently providing Insurance services to entire satisfaction of client. It has a network of 12 branches spread across the country from Karachi to Peshawar. SICL has a distinction to have Shaheen Foundation (PAF) as the major shareholder. The Overall control of the company vests with Board of Directors (BoD) comprising seven members. All of them represent Shaheen Foundation (SF) with the Managing Director SF also holding the office of Chairman in SICL. Mr. Sohel N. Kidwai is the CEO of the Company, who is assisted by a team of energetic and qualified professionals.

SICL has a paid up Capital of Rs. 600 million and Authorized Capital of Rs. 1 billion. Shaheen Insurance with its strong backing of sponsors, capital base, prudent underwriting and with financial expertise has been rated by Pakistan Credit Rating Agency, (PACRA), at

‘A’ with stable Outlook. The rating denotes strong capacity of the company to meet policyholder and contractual obligations.

Shaheen Insurance believes that its re-insurers are like partners. It is a matter of great satisfaction that the existing panel of our re-insurers comprises of world renowned ‘A’ rated companies.

MAJOR ACHIEVEMENTS
  • SICL is venturing into Takaful Window Operations (Islamic mode of Insurance). With its long and extensive expertise in conventional insurance, it would be another feather in its cap.
  • The company has been awarded highest ever Financial Strength Rating of ‘A’ with stable outlook by PACRA in view of the sound financial position of the company.
  • SICL has also successfully executed Auto Leasing Insurance arrangement with various financial institutions including JS Bank Limited, Soneri Bank Limited, Bank of Punjab, First Punjab Modaraba etc.
FUTURE VISION
OUR MISSION

Our mission is to continuously improve ourselves to become a leading, profitable company, meeting the needs of our customers and enhancing the value of our shareholders investment.

ACKNOWLEDGMENTS

We would like to express our gratitude and appreciation for the continued guidance and support being extended by honorable Chairman of the Board of director, Air Marshal Muhammad Jamshed Khan (Retd) and other members of the Board.

We are also grateful to our customers for their continued trust and confidence placed in us.

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