NJI — A COMBINATION OF SIZE AND STRENGTH
May 09 - 15, 2005
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 peers."
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 Company Limited.
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 Thames, U.K.
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 1988-89
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 Insurance Institute.