New Jubilee Insurance Company is one of the three
biggest Pakistani non-life insurers. It is the only Pakistani company
which has been awarded AA rating by both PACRA and JCR-VIS. This
rating reflects "the Company's financial strength evidenced by a
strong financial base and solvency margin. The rating also takes into
account the proven capacity to consistently out perform its
NJI was established in 1953, and is now in the 52nd
year of its operation. It is a public company listed on the KSE since
1955. The Head office is in Karachi, and branches in all major cities
and town of Pakistan.
NJI underwrites all classes of general insurance
business, and is the pioneer and market leader in health insurance
business. The Company's clientele mainly comprises of the leading
Pakistani and multinational companies and institutions, as well as the
business and industrial community all over the country.
The prominent shareholders of NJI are the Aga Khan
Group and the Hashoo Group.
On 1st January, 2003, NJI acquired the general
insurance business of the Pakistan branches of Commercial Union. This
transaction was also the first major acquisition of the Pakistan
operations of a leading foreign insurer by a Pakistani Company.
In a separate transaction, the Aga Khan Fund for
Economic Development (AKFED) and NJI also acquired the controlling
shareholding in the Commercial Union Life Assurance Company (Pakistan)
Limited, which has now been renamed as New Jubilee Life Insurance
NJI's management team consists of highly qualified
and dedicated professionals and the consistently good results achieved
year after year are due to the Company's focus on sound underwriting,
expenses control and maintaining a well balanced and diversified
investment portfolio which yields high returns.
The solid growth achieved by the Company in the
last ten years is evident from the following charts:
President & Managing Director
New Jubilee Insurance Company Limited,
Jubilee Insurance House,
I.I. Chundrigar Road, Karachi
I. M.B.A. (IBA- 1960), B.Com
II. Chartered Insurer, (ACII)
Chartered Insurance Institute, U.K.
III. Administrative Staff College, Henley on
Attended General Management Course, 1970.
Extensive experience in Insurance and Finance from
1960 to present
Other Insurance Related Assignments
1. Served as Chairman of the Insurance
Association of Pakistan, 1988-89 and 1990-91
2. As Chairman of Insurance Association of
Pakistan also served on the National Insurance Reforms Commission
3. Member of the Committee appointed by the
Government of Pakistan in 1997 for Review and Amendment of the
Insurance Act 1938
4. As Chairman of the Pakistan Insurance
Institute 1997-99 and 2001 to 2003
5. Presently serving as a Member of Pakistan