Dec 14 - 20, 2009

Shaheen Insurance was incorporated as a public limited Company in 1995 and is listed on all three stock exchanges of Pakistan. The Company is also registered with Central Depository Company of Pakistan Ltd. (CDC) and is involved in general insurance business.

Shaheen Insurance proven as one of the most reputable and brightest names in the insurance sector since it started operations in 1996 and its sustained growth over the last half a decade has secured a place among the "Top Ten" general insurers of Pakistan in terms of gross direct premium base.

Shaheen Insurance continues on the path of sustained progress and is recognized as one of the best insurance companies of Pakistan. All business segments have been consistently profitable and are contributing significantly to the bottom line of the Company. Its annual turnover is over Rs.700 million while portfolio is quite balanced with Motor 40% which at one stage was over 80%. Its major growth in Fire & Property and specialized risks was significant. Prompt settlement of claims with customer satisfaction is management's top priority.


Shaheen Insurance has the unique distinction of being jointly owned by the prestigious institutions of Pakistan and a multinational professional insurance company from South Africa. Its major sponsors include, Shaheen Foundation (PAF), First Capital group from Pakistan and Hollard Insurance from South Africa, a brief about them is as follows:-


Shaheen Foundation, Pakistan Air Force - PAF (the Foundation), was established in 1977 essentially to promote welfare activities for the benefit of serving and retired PAF personnel including its civilian employees and their dependants, and to this end - generate funds through industrial and commercial enterprises. Since then, it has launched a number of profitable ventures to generate funds necessary for financing the Foundation's welfare activities. To achieve the highest level of quality and efficiency in the business activities, Shaheen Foundation attaches great importance to its work force.

Shaheen Foundation started its operations in 1978 and is registered with the Government of Pakistan, Ministry of Health, Welfare and Population Planning (Health & Social Welfare Division). Its balance sheet size is more PKR 4 billion and its annual business turnover is more than PKR1.50 billion. Besides Shaheen Insurance following are the other Companies of Shaheen Foundation, (PAF) :-

Shaheen Airport Services Shaheen Complex Karachi
Shaheen Air Cargo Shaheen Complex Lahore
Shaheen Aero Traders Ensign CommuniquÈ Pvt. Ltd
Shaheen School Systems Shaheen Knitwear
Call Center Training Institute MEDIA
Resource Training Institute Hawk Advertising


First Capital Group founded by Mr. Salmaan Taseer in 1994 and he has been the Chairman of the group. He brings with him an array of experience dating back to the early stages of his career where he successfully set up two chartered accountancy and management consultancy firms; KPMG, UAE and THK, Pakistan. Diversifying his interests, in 1994 he established First Capital Securities Corporation, a full service brokerage house with equity participation by Smith Barney Inc USA and HG Asia Hong Kong.

Since then he has been actively involved in establishing other companies in the financial sector as well as the telecommunications, insurance and real estate / property development sectors. Today, the group boasts a number of companies, listed and unlisted in various sectors with national and international footprint.

Now First Capital Group is interacting with foreign partners getting highest level of professional expertise and best minds from all around the globe. Its assets are over PKR 100 billion and its annual business turnover exceeds PKR 50 billion. Besides Shaheen Insurance following are the other projects of First Capital Group:-

• First Capital Securities Corp. Ltd. • First Capital Mutual Fund Ltd.
• First Capital Equities Ltd. • First Capital Investments Ltd.
• Lanka Securities Ltd. • Equity Partners Securities Ltd.
• Total Media Ltd. • Media Times Ltd. (Business Plus)
• World Press Ltd. • Wikkid Plus
• Daily Times  
• Pace Pakistan Ltd. • Pace Towers
• Pace Woodlands Ltd. • Pace Barka Properties Ltd.
• Pace Gujrat Ltd. • Trident Construction Ltd.
• Pace Super Mall Ltd. • Pace Gujranwala


Hollard Insurance is one of the largest insurance corporate enterprises of South Africa and is dealing in both general and life insurance. It has very established corporate culture and values remarkably practiced there. It is successfully operating in many countries of the world including UK, USA, Australia, Bermuda, Thailand and Mozambique besides Pakistan.

Hollard Insurance, annual business turnover of which was over USD1.50 billion and over three times of total insurance premium written in Pakistan, Its assets are over USD 20 billion depicting its financial strength. Hollard insurance took very keen interest in our strategic management and formulation of our future plans.


Strong financial foundations are a prerequisite for reliable insurance coverage and Shaheen Insurance started its operation, way back in 1996 with paid-up Capital of PKR60 million and now by the grace of Almighty its capital structure is well strengthened at the following levels:-

Authorized Capital PKR 200 million
Paid-up Capital (Fully paid) PKR 175 million

Shaheen Insurance is on a sound footing with regards to its capital and intends to continue enhancing its capital base in the coming years.


Shaheen Insurance has a nationwide branch network with 28 operating stations spread in all major cities. To accelerate growth and meet challenges of increasing competition, the infrastructure of the Company is being continuously developed and strengthened. New branches are being established to expand our presence in the country and to better serve the customers.


Shaheen Insurance with its strong backing of sponsors, capital base, prudent underwriting and financial management has been rated by Pakistan Credit Rating Agency, (PACRA), the largest rating agency in Pakistan reaffirmed the IFS Rating 'A- with Positive Outlook' which denotes:-

"Strong capacity to meet policyholder and contract obligations, at the same time, risk factors are moderate, and the impact of adverse and economic factor is expected to be modest."


Shaheen Insurance 'A Sign of Protection'


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.

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.

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


Shaheen Insurance is an insurance super market to meet all insurance needs under one roof. We, with personalized services are providing value added comprehensive following insurance coverage

* Personal Cars, Commercial Vehicles,
* Factories, Offices, Houses & House holds
* Aviation including Aircrafts insurance, Personal Baggage, Public Liability, War Risk
* Travel Insurance
* Cash in Transit & Cash in Safe
* Health Insurance
* Specialized cover for Contractors of all kind
* Buildings, Bridges, Roads, Patch work, Renovation
* Construction Machinery
* Bid Bond & Performance Bonds
* CNG/POL Stations
* Burglary, Coverage for professionals also available
* Workmen Compensation, Employer's Liability, Public Liability
* Stocks, Buildings, Warehouses
* Marine Insurance covers to protect valuable stocks in transit whether local, import or export by any mode of transport i.e., ship, road, rail or by air.