THE UNIVERSAL INSURANCE COMPANY LTD.

Nov 19 - 25, 2007

 

Date of Incorporation:

9th May 1958

Date of commencement of business:

17th January 1959


The Universal Insurance Company Limited is a part of Bibojee Group of Companies was established by an eminent industrialist (the late) Lt. Gen. (R) M. Habibullah Khan Khattak.

This Company entered insurance market in 1960 and at present company has established its franchise in the northern region of the Country and on premium portfolio basis 'Universal' one of the TOP TEN insurance companies.

The Company started underwriting insurance business in 1960 with Paid-up Capital of One Million Rupees. The present Paid-up Capital of Company is Rs.100 Million and the following figures for last five years bespeak of Company's steady progress:-

The Company has large clientele including textile, knitwear, sports, automobile and woolen sectors.


HEAD OF ACCOUNT

2002

2003

2004

2005

2006

INCREASE OVER LAST TWO YEARS

Capital*

50

50

80

80

100

25%

Equity

69.43

82.95

130.03

145.29

173.84

34%

Cash And Bank Balances

127.69

158.35

170.62

238.81

211.98

24%

Property And Assets

345.57

432.06

546.68

662.93

753.38

38%

Gross Premium

247.46

301.34

371.17

514.2

567.55

53%

Net Premium

124.99

161.67

188.45

300.41

390.82

107%

Net Claims Paid

         

134%

And Outstanding

57.36

69.39

86.37

147.32

202.8

 

Profit Before Tax

8

20.68

25.79

42.4

40.51

57%

Profit After Tax

4.97

13.66

16.82

28.6

29.88

77%


The Company is fully protected through its world renowned and internationally rated re-insurers among whom are:-

1. Hanover Reinsurance Company, West Germany

2. Sumitomo Marine and Fire Insurance Company, Japan

3. Korean Reinsurance Company, Korea

4. Toa Re

5. Asian Re

6. Kuwait Re and

7. J.B. Boda & Company (Broker), Singapore.

The Company is ISO Certificated for 9001-2000 (Quality Management Services) and present rating status of Company (assessed by JCR-VIS Credit Rating Company) is "A-with 'stable' outlook".

* Rs.120 Million effective 31-03-2007.