A Profile

Nov 19 - 25, 2007

Established in 1953, NJI is one of the most reputable and brightest name in the insurance sector. Sustained growth over half a century has secured NJI a place among the "Big Three" Pakistani insurance in terms of gross direct premium and financial base. NJI is listed on the Karachi & Lahore Stock Exchanges. Major shareholders include Aga Khan Fund for Economics Development and Hashoo Group. NJI, with its Head Office in Karachi, has an extensive and dynamic branch network in all major cities and towns of Pakistan that guarantees prompt service at the customer's doorstep.

The company prides itself in its long-standing reinsurance arrangements and relationship with international renowned reinsurers such as Swiss Re, Munich Re, Lloyds, Hannover Re and Mitsui Smitomo Re. The company is also supported by internationally acclaimed reinsurance brokers including AON Group, Willis, Marsh and UIB.

In 2003, NJI became the first Pakistani insurance company to acquire a foreign company when it took over the Pakistan operations of Commercial General Union. Together with AKFED, NJI also acquired majority control of CU Life Assurance Company of Pakistan Ltd.

At NJI, diversity is maintained through underwriting all classes of general insurance including fire, marine, motor, engineering, health and general accidents. NJI not only offers wide risk coverage, but also provides related risk management services delivered by highly qualified and experienced risk managers. NJI has developed unique and innovative insurance solutions to meet the growing consumer financing trends of economy. From auto financing to personal loans, mortgages to plastic cards, and trade finance to capital investment finance, NJI has the customized solutions to secure entire operations. Product range and transactions of all financial institutions.

As pioneers in Group Health Insurance, NJI continues to develop new, flexible and customized plans to suit the diverse need of our many blue chip Pakistani companies and multinational clients.

With a broad spectrum of services available, NJI's client-base comprises prominent national and multinational corporations operating in Pharmaceutical, Chemical, Textile, Cement, Services (Hospital & Hotels), Oil & Energy, Manufacturing, FMCG, Engineering, Banking and Financial sectors.

NJIís business philosophy can be summed up as Customer Protection, Customer Satisfaction and Customer Trust. This is acquired largely by ability to handle claims effectively. The customer focus and pro-active management approach in all areas of business, allow NJI to underwrite and handle claims in an expeditious and efficient manner.

The true test of soundness of insurance converge is the duration of client relationships. This is proven by the fact that many clients have been with us for over 40 years. Clients are satisfied knowing that NJI is their best security.

"NJI is the only company among the top insurers to secure and sustain an Insurer Financial Strength Rating of "AA" both by PACRA and JCR-VIS."

The written premium of NJI has grown by 38% to Rs.2,940 million in the first nine months of the current year due to robust growth in all classes of business. Net Premium has increased by 25% over the same period last year to Rs.1,335 million.

Marine, Motor, Liability and Health insurance business continue to post profits. However, some large claims in Fire and miscellaneous classes have depressed the underwriting profit to Rs.75 million for the nine months of the current year. Total Investment Income of Rs.412 million also shows reasonable growth. It includes realized capital gains of Rs.214 million from sale of shares.

NJI is thus a leading insurance company that covers most of the % of Insurance business in Pakistan. The insurance business will continue to deter its pace unless much favorable environment would be provided for every individual to thrive and learn the practice of getting insured. We hope that with the booming economic scenario, the factors pertaining to the marginal growth would be replaced with a productive energy to boost the growth of this industry.