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Pak-Qatar General Takaful Limited – attached firmly to practices under Shariah laws

Company has a vision of providing financial protection through Takaful to everyone with every digital mediums

Pak-Qatar General Takaful Limited (PQGTL) is one of the leading General Takaful companies in Pakistan. The company commenced its operations in 2007. Pak-Qatar General Takaful Limited offers comprehensive General Takaful (Non-Life insurance) products’ portfolio for corporate customers as well as individual clients.

Incorporated in 2006, and beginning operations in 2007, the company is registered with, and supervised by, the Securities and Exchange Commission of Pakistan (SECP).

An independent Shariah Advisory Board chaired by Mufti Muhammad Taqi Usmani certifies all products and operations for Shariah compliance. The company is rated ‘A’ (Single A) with Stable Outlook by PACRA and ‘A-’ (Single A Minus) with ‘Stable’ Outlook by the JCR-VIS Credit Rating Company Limited.

PQGTL has a vision of providing financial protection through Takaful to everyone. The company’s shareholders include some of the strongest financial institutions in the state of Qatar such as Qatar Islamic Insurance Company (QIIC) and Qatar International Islamic Bank (QIIB) besides Pak-Qatar Investment (Private) Limited and Fawad Yusuf Securities (Pvt) Limited.

The company is further strengthened by its Re-Takaful arrangements with Labuan Re, Emirates Re, Saudi Re and African Re.Pak-Qatar General Takaful Limited has presence in major cities of the country.

Pak-Qatar General Takaful Limited by adhering to the only best practices set down in the Islamic Shariah and Pakistani law is engaged in providing need-based, practical and profitable financial services to its members and participants throughout Pakistan.

The company believes in technological advancement and has presence on all digital mediums thus enabling the customers to keep in touch 24/7 via modern web portals and mobile applications.

Awards & recognition

Pak-Qatar Family & General Takaful was awarded Best Takaful Company in Pakistan at Cairo Summit in 2013. The International Takaful Awards are the only recognition of excellence and achievement for the Takaful industry. This year’s Awards were rewarded to the most progressive companies in 12 countries where Takaful has been most vibrant.

The awards were presented for excellence to those service providers that support the industry.

Group Family Takaful

Group Family Takaful is a risk coverage plan that provides protection to participant employees in the event of death or disability; so that a multiple of that employee’s yearly salary can be paid to his/her family or dependants to ease their financial difficulties.

The basic coverage can also be enhanced by adding coverage of risks that are arising out of a natural calamity or by unpredictable accidents.

The plan is either contributory or sponsored by the employer/company as a yearly renewable agreement.

The benefit provides payment of the agreed coverage amount in the event of death, due to any cause, of a participant employee.

Along with this plan employees can be provided with any of the following additional coverage.

Group Accidental Death Family Takaful

Accidents are always sudden and sometimes fatal. You can’t lessen the emotional shock, but you can certainly soften the financial one. Group Accidental Death Family Takaful Benefit gives the loved ones something to start with after the permanent loss of income by paying an additional coverage amount.

Group Permanent Partial Disability Family Takaful

Accidents are unpredictable and so are the consequences. They may lead to a disability which is partial but permanent. This benefit provides a financial cushion against such events; the participant gets a particular amount in case of an eventuality as per the specified schedule.

Group Permanent Total Disability Family Takaful

An accident can be the cause of a disability which is permanent and total. This benefit provides a financial cushion in such situations to a participant where he/she is unable to earn his living.

The permanent disability payouts are a percentage, according to a specified schedule, or the full amount of coverage to the participant according to the nature of loss.

Group Temporary Total Disability Family Takaful

In a situation where the participant is fortunate enough to escape from a major injury of a permanent nature and is temporarily disabled for a short period in an accident, the benefit will cover for the loss of wages in the shape of a weekly payment of an agreed amount during the whole period of disability, till the time he regains health and resumes work.

Group Natural Disability Family Takaful

Health is a gift of Allah, but it’s unpredictable when one will be deprived of this blessing.

The benefit provides coverage to a participant if he becomes permanently and totally disabled due to natural causes after which he is unable to perform his duty for which he is trained or experienced. This benefit provides payment of the whole sum covered.

Group Accidental Medical Expense Family Takaful

If a participant suffers an injury due to an accident, this benefit will cover the medical expense, up to a specified amount, during the period of hospitalization and or medical treatment.

 

Group posts net profit of Rs 133 million

Pak-Qatar Takaful Group has registered an immense growth during the preceding year with an aggregate turnover of around Rs. 9.0 billion.

The Group posted a net profit after tax of Rs. 133 million during the year ended 31-December-2017, while its participant Takaful Fund generated the net consolidated surplus of Rs. 116 million.

Pak-Qatar Takaful Group, which comprises of Pak-Qatar Family Takaful Limited and Pak-Qatar General Takaful Limited, reviewed and approved the financial statements of both the Companies for the year ended December 31, 2017 during the Group’s Board of Directors meeting.

Pak-Qatar Takaful is Pakistan’s Pioneer and largest Takaful Group operating for more than a decade with the largest branch network nationwide.

PQFTL: The first and largest dedicated Family Takaful Company in Islamic Finance Industry

PQFTL is one of the fastest growing Family Takaful operators in the country with more than 70 branches in over 41 cities, in addition to over 3,500 bank branches in over 200 cities that provide BancaTakaful products.

The Company’s paid-up capital is in excess of Rs. 1.250 billion, with credit rating of ‘A’ (Positive Outlook) by JCR-VIS Credit Rating Company Limited.

The company is the recipient of ‘Best Takaful Operator Award’ from the International Takaful Summit, London, as well as from IFN Red money, Malaysia and the Best Takaful Company Award by the President of Pakistan from RTC, Islamabad.

Pak-Qatar General Takaful Limited offers a comprehensive products’ portfolio for the national General (non-life) Takaful market.

The Company’s paid-up capital is in excess of Pak-Rs. 509 million, with credit rating of ‘A-‘ (Stable Outlook) by the JCR-VIS Credit Rating Company Limited and ‘A’ Rating with Stable Outlook by Pakistan Credit Rating Agency Limited.

Pak-Qatar Family Takaful Limited and Pak-Qatar General Takaful Limited are chaired by Sheikh Ali bin Abdullah Al-Thani and sponsored by some of the strongest financial institutions from the State of Qatar.

PCRA upgraded IFS rating

Pakistan Credit Rating Agency (PCRA) has upgraded the IFS rating of Pak-Qatar Family Takaful Limited.

The rating is dependent on management’s ability to successfully execute its business strategy of growth, while preserving underwriting profitability.

Pak-Qatar Family Takaful Limited is the pioneer and the dedicated Takaful Company operating for more than a decade offering financial protection to everyone with a history of robust profitability ratios.

The profitability of Pak-Qatar Family Takaful Limited has remained strong as compared to peers, reflecting a strong business profile.

The growth pattern of this company has also remained high in recent years.

Moreover, after having established an extensive nationwide branch network, PQFTL is now gradually expanding its wings through Alternate Distribution Channels.

The rating denotes a strong capacity to meet policy-holders and contract obligations. The rating also reflects the sustained market position of the company, having decent foothold in Bancatakaful.

The rating is dependent on management’s ability to successfully execute its business strategy of growth, while preserving underwriting profitability.

Pak-Qatar Family Takaful Limited is the pioneer and the dedicated Takaful Company operating for more than a decade offering financial protection to everyone with a history of robust profitability ratios.

The profitability of Pak-Qatar Family Takaful Limited has remained strong as compared to peers, reflecting a strong business profile.

The growth pattern of this company has also remained high in recent years.

Moreover, after having established an extensive nationwide branch network, PQFTL is now gradually expanding its wings through Alternate Distribution Channels.

The rating denotes a strong capacity to meet policy-holders and contract obligations. The rating also reflects the sustained market position of the company, having decent foothold in Bancatakaful.

Mission statement
  1. Promote Takaful amongst the masses, encompassing education and awareness, and present an image that is consistent with our ideological values.
  2. Adhere to best ethical practices in all aspects of our operations, while abiding by the Shariah and the law of the land.
  3. Empower our employees by inspiring, guiding, enabling, and supporting them.
  4. Ensure our support to the community and the environment with excellence.
  5. Ensure customer satisfaction by offering quality products and services driven by their needs.
  6. Ensure optimum returns to the shareholders.
Core value

Doing things in a manner that in available resources cannot be done better.

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