METROPOLITAN LIFE ASSURANCE

 Apr 04 - 10, 2005

The company was incorporated in August of 1992 and started its operations in February of 1993, which means that 2005 marks our 12th anniversary of successful operation in Pakistan. Our Registered Office is in Quetta and Head Office is in Karachi. We have three zonal offices in Lahore, Rawalpindi and Peshawar. Furthermore, with a vast network of more than 40 branches all over Pakistan, we are poised to cater entire needs of our individual policyholders as well as corporate clients.

Recently, we have doubled our paid-up capital to Rs200 million. This action was taken by our Board of Directors despite of the fact that the requirement of the Securities and Exchange Commission of Pakistan was to increase the paid-up capital to a minimum amount of only Rs150 million by the end of 2004. Accordingly, in order to make room for the enhanced paid-up capital, we have increased our authorized capital to Rs250 million. The larger paid-up capital base is allowing us to better position ourselves to provide improved benefits and services to our individual and corporate customers.

We are part of a large financial group, including East West Insurance Company Limited, which is our sister concern specializing in selling general insurance throughout Pakistan. With a joint paid-up capital of more than Rs320 million, the group has substantial resources at its disposal to meet its financial requirements. Our annual premium income is approximately Rs50 million, which is broken up roughly 50-50 between individual and corporate business.

Metropolitan Life markets conventional style policies for individual customers and group life and health/hospitalization policies for corporate clients. Customizable and competitively priced endowment plans are at the core of our individual policies, which can be enhanced to meet each individual client's needs with many flexible riders.

Our group life insurance division is managed by some of the most experienced persons in this business. Our goal is to provide top-notch service to our corporate clients and pay all claims very promptly (in most cases, even before the documentation is complete). We provided statutory cover to the workmen and customized cover to the officers of the establishment at competitive rates. Free sum assured, i.e. Sum Assured without medical examination is allowed quite generously. Most importantly, as stated above, we offer prompt and polite settlement of claim (within 24 to 72 hours in most cases). Within our group life insurance product, we are also marketing a very specialized service to banks and other lending institutions. We are offering life insurance coverage of borrowers to the extent of their outstanding loans including mark-up (where applicable). This coverage is available on all types of loans, including agricultural, personal, consumer, automobile and housing related lending. However, our coverage of borrowers under mortgage related lending is very unique in the sense that we offer very high free sum assured limits, as high as Rs3 million in some cases, without affecting the premium rates for the coverage. This truly sets our product apart from others in the industry for this specialized coverage.

Group Health and Hospitalization Policy is independently managed by some of the most well trained, senior and experienced health-care professionals in the business. All your specific and quite expensive needs like coverage for hospital stays, maternity expenses and dread diseases are well covered and taken care of within our policy. Being generous and customizable, our policy is the perfect choice for the corporate client, interested in providing the best medical cover to the employees and their families, including the employee's spouse, children and parents. In most cases, claims are settled directly with the panel hospital. However, in case of reimbursement claims, we pay special attention to prompt payment (within one week in most cases).

Metropolitan Life has individual and group business re-insurance arrangements with several of the world's leading re-insurers, including Hannover Life Re (Hannover, Germany) and Mapfre Re (Madrid, Spain). It is important to note that majority of the risks assumed by us are reinsured with these financially sound companies of international repute. Furthermore, both of these companies are in the Standard and Poor's AA rating category, which indicates "very strong" capability to meet their financial commitments and comfortably fall within the secure range.

PRODUCT

The products and services offered by Metropolitan Life definitely cover all aspects of today's life. Our child protection plan and Metro Educational Security Schemes provide much needed protection related to educational and/or marital expenses. Our endowment and anticipated endowment plans offer excellent protection and benefits for young professionals and students. Our Shandar (1-2-3) and Humsafar (Joint Life) plans are truly designed with young families in mind. Moreover, special riders, such as Pension Option, are popular with our older clients, who are looking for added benefits after retirement.

Furthermore, besides our individual plans, our group coverage of agricultural borrowers has been specially developed for our country's Kissans. This coverage makes it much easier for banks and other lending institutions to lend in rural areas of Pakistan because they know that if the borrower passes away (Allah forbid), then Metropolitan Life will be there to clear the outstanding loan and mark-up up to the date of death. This is an excellent coverage for the bank because they avoid high legal costs in recovering the loan through sale of asset and/or rural land, which is very difficult to accomplish, and build-up goodwill within the deceased borrower's area. The deceased borrower's family also likes this coverage because they avoid mental anguish involved in raising money to pay off the institution and they keep the asset and/or items purchased with the borrowed funds. We at Metropolitan Life are especially proud of this product because we know that it directly affects the sector (agriculture), which is the backbone of our economy.

Similarly, our group coverage of personal, consumer, automobile and housing related borrowers covers all essential aspects of urban life. Furthermore, our group health/hospitalization plans, also provides important hospitalization coverage to workers and professionals. Our main goal at Metropolitan Life is to make sure that we can provide a one-stop solution for all insurance needs in today's hectic and fast life. That's why we like to say........It's all about life.....at Metropolitan Life!