UNIVERSAL INSURANCE COMPANY LTD.
Aug 11 - 17, 2008
- Date of Incorporation : 9th May 1958
- Date of commencement of business : 17th January 1959
Brief Resume of the Company is given below: -
The Universal Insurance Company Limited ñ a part of Bibojee Group of Companies was established by eminent industrialist the late Lt. Gen. (R) M. Habibullah Khan Khattak.
This Company entered insurance market in 1960 and at present is one of TOP TEN insurance companies of Pakistan with premium port-folio of Rs.550 Million (2007).
To provide adequate protection to its clients the Universal Insurance Company Limited underwrites all sorts of risks i.e. Fire, Marine, Motor, Personal Accident, Travel Insurance, Health Insurance, Workmen Compensation, Contractors All Risks, Erection All Risks, Fidelity Guarantee, Money Insurance, Loss of Profits and Machinery Breakdown etc.
Extensive experience and professional background of our underwriters in Insurance and Risk Management enables us to offer a full range of insurance coverage tailored to the specific needs of our clients and we back this with personalized service approach.
Based on the audited Accounts and Balance Sheets we give below Financial Highlights of the Company:-
(In Million Rupees)
HEAD OF ACCOUNT
Profit Before Tax
Profit After Tax
Cash in Banks
Total Property & Assets
The Company is fully protected through its sound Re-Insurance Arrangements with world renowned re-insurers among whom are:-
Hanover Reinsurance Company, West Germany
Mitsui Sumitomo Reinsurance Limited Malaysia
Korean Reinsurance Company, Korea and
The Toa Reinsurance Company Singapore
J.B. Boda & Company (Broker), Singapore.
With the vast and diversified reinsurance arrangements the Universal Insurance Company is able to underwrite risks of heavy magnitude. For larger industrial risks Company has standing facultative reinsurance arrangements with local insurance companies. Further-more Company's policy to provide prompt service coupled with excellent claim settling record of 48 years "Universal" has been chosen by large industrial units for providing them efficient technical insurance services. This clientage includes Textile/Spinning Mills, Flour Mills, Sports and Surgical Manufacturers, Garment Factories, Sugar Mills, Ghee Industries and various other industrial projects the number of which runs over fifteen thousand. Amongst these some large industrial Projects are: -
General Tyre & Rubber Company of Pakistan, Ghandhara Nissan Limited, Ghandhara Industries Limited, Bannu Woollen Mills Limited, Janana De Malucho Textile Mills Ltd., Babri Cotton Mills, Rehman Cotton Mills, Highnoon Laboratories, Mahr Group of Companies, Leather-Field (Pvt.) Ltd., Fircos Industries (Pvt.) Ltd., Mari Gas Company Limited, Attock Refinery Limited, Saif Group of Companies, Younus Brothers, S.A. Brothers, Silver Star Group, Talon Sports, SAGA Group of Companies, Waheed Hafeez Ghee Industries (Pvt.) Ltd., Sublime Group of Companies, Friends Textile Mills, Kohat Textile Mills, Friends Spinning Mills, Imran Textile Mills, Comfort Knitwear Group of Companies, ARC Knitwear (Pvt.) Ltd., Talon Sports (Pvt.) Ltd., Kampala Industries (Pvt.) Ltd., Fauji Cement Company etc.