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Corporate Profile
International General Insurance Company (Pak) Ltd


Corporate Profile
Science & Technology
Special Report

Sep 18 - 24, 2000

International General Insurance Company of Pakistan Limited (IGI) which was established in 1953, is one of the leading quoted insurance companies operating in Pakistan. It is one of the oldest Group Company of the well known Packages Group.

IGI during its over 47 years of operations, has established its reputation in the domestic as well as international insurance market for quality insurance business and adherence to high ethical/professional standards.

During 1997 IGI was awarded A++ ranking (exceptional financial performance) by Vital Information Services (Pvt) Limited in their latest F & J Ranking of the top ten Insurance Companies of Pakistan based on their 1996 audited accounts.

Recently the Company has been given AA- (Double A minus) rating of its Claims Paying Ability (CPA) by Pakistan Credit Rating Agency (Pvt) Limited, an affiliate of Fitch IBCA Inc. New York/London—third largest international rating agency after S&P and Moody's.

Reinsurance treaties

Our reinsurance treaties are with the most prestigious reinsurers like "Munich Re" and "GeneralCologne Re" of Germany, "Swiss Re" of Switzerland, "Assicurazioni Generali" of Italy, "Korean Re" of Korea, "Asian Re" of Thailand and "PIC" of Pakistan.

Our main reinsurers Munich Re, Swiss Re and Cologne Re enjoy AAA rating by Standard & Poor's latest evaluation.

Presence of these world renowned reinsurers on our panel is a clear cut appreciation of our underwriting policies and professional approach at the international level. With their backing we have gross capacity of Rs. 331.25 million in case of Fire and Rs. 72.00 million for Marine.

The Company has offices at Karachi, Lahore and Islamabad.

Qualified, experienced and service oriented staff, trained in United Kingdom, Switzerland and Germany has placed the Company in a strong position for Fire, Marine and Motor/Miscellaneous Accident Insurances.

Our Corporate philosophy is emphasis on quality business and customer service has continued to reward us with a steady and healthy growth. Amongst local insurance companies IGI ranks today on position No. 6 compared to No. 9 of the year 1995 and No. 13 of the year 1993.

Our valued clients are reputed local as well as multinationals companies like Hoechst Marion Roussel , Siemens Pakistan Engineering Company Limited, Tetrapak Pakistan Limited, Nestle Milkpak Limited, Lever Brothers Pakistan Limited, First International Investment Bank Limited, J & P Coats Pakistan Limited, Packages Limited, Dane Foods Limited, Wazir Ali Industries Limited, Zulfeqar Industries Limited, Treet Corporation Limited, Tripack Films Limited, Coates Lorilleux Pakistan Limited, Coca Cola Beverages Pakistan Limited etc. etc.

Currently IGI has paid up capital of Rs. 97.1 million and General Reserves of more than Rs. 280 million.

Total assets of the Company at cost are Rs. 586 million. The current market value of these assets is nearly Rs. 1.63 billion.

Amongst Pakistani Insurance Companies IGI has the HIGHEST Solvency Margin of 485%.

IGI has the LOWEST outstanding claims amongst all the local insurance companies.

Confidence of the general public in IGI and market respect for its share is evident from the fact that our share of Rs. 10.00 is presently being quoted at Rs. 60 at the Karachi Stock Exchange (Guarantee) Ltd.

English and Urdu writers to honour Maqsood Ellahie Sheikh in Bradford

Several English and Urdu writers will join to honour the Pakistani short story writer Maqsood Ellahie Sheikh. He has won the Dohazara Literature Publications Award. His two latest books will be launched in Bradford Central Library on September 21, 2000.

Poet Dr. Saleem-ur-Rehman and English writer, novelist Qaisara Shehraz of Pakistani origin will read papers on the fiction writing of Maqsood Ellahie.

Dr. Sifat Ahmed Alvi will speak about Maqsood Ellahie and also about services of the Central Library to Asian languages. Mr. Maqsood Ellahie will also present his favourite short story.