Company Profile

Adamjee Insurance Company Limited (AICL) was incorporated as a public limited company on September 28, 1960 and is listed on Karachi and Lahore stock exchanges of the country. The company is also registered with the Central Depository Company of Pakistan Limited (CDC). AICL is involved in General Insurance business.

The company started with a paid up capital of Rs. 2.5 million which has grown phenomenally to the current paid up capital of Rs. 1.022 billion which is the highest amongst all the general insurance companies. AICL enjoys a competitive edge in the insurance industry due its strong asset base, paid up capital, huge reserves, balanced portfolio mix, steady growth in gross premium and continuous increase in share price at the stock market.
Diversified portfolio of business

AICL broadly is involved in underwriting the following classes of businesses:

  • Fire and Property
  • Marine, Aviation and Hull
  • Motor
  • Miscellaneous business
Underlying these businesses a large variety of coverage is offered to the clients to fulfill their needs. AICL believes in customer satisfaction by providing quality in service and products and maximum benefits to its client. This is the reason why the company has a diversified portfolio of clients belonging to all categories. Most of the banks are insured by the company. AICL insures petrochemical and complex industrial risks of very high value. The company has a major market share of engineering business in Pakistan. It provides Insurance protection to most of the private sector telecommunication industries. The company insures most of the textile mills, sugar mills and cement factories of the country. AICL pioneered the coverage of energy risks in Pakistan. Foreign concerns entering Pakistan to execute construction, erection or infrastructure development projects are insured by AICL. The company is the principal insurer in Pakistan for Kidnap & Ransom, Professional Indemnity, Product Liability and other specialized lines.
HIGHLIGHTS OF THE YEAR
  • Highest ever Pre-tax profit of Rs. 1.68 billion
  • Highest Gross premium of Rs. 7.9 billion
  • Cash Fund Management
  • Establishment of Banc Assurance
  • Establishment of Marketing Department
  • Launching of Travel Insurance
To meet the challenges of 21st century due to change in global market and implementation of WTO, the company has set some defined objectives and strategies:
Objectives
  • Strengthen customer relationship through customer satisfaction by providing excellent service and quality products.
  • Maintain a healthy balance between Profitability and Volume and have a balanced portfolio mix.
  • Increase investment returns from its growing funds and absolute return strategy.
  • Consolidate market share through offering new products and to focus our approach in areas where our presence is small.
  • Establish modern management system and adopting latest techniques conforming to International Standards needed for an efficient organization.
Strategies
  • To pursue strong growth
  • Adopting industry's best practices and increasing economies of scale.
  • Leveraging opportunities across the industry.
  • Development of Human Resource through training and exposure to modern technologies and management techniques.
  • Expansion of business and improving customer relationship management through wide network of branches locally and internationally.
  • Development in Information Technology to have an effective Management Information System.
  • Pursue best Reinsurance arrangements
  • Establish effective Risk Management System.
ACHIEVEMENT OVER THE YEARS
  • Only Insurance Company in Pakistan to be declared the second best insurance company in the whole of Asia by Euro money.
  • Upgradation of IFS ratings of JCR-VIS from AA- to AA.
  • Best Export Performance trophy from FPCCI 18 times.
  • 31% average dividend payout over the last 20 years.
  • Corporate Excellence Award from Management Association of Pakistan for two consecutive years.
  • Principal Insurer in Pakistan for providing cover of Kidnap & Ransom, Professional Indemnity, Product Liability and certain other specialized lines.
  • Winner of Top Companies Award from the Karachi Stock Exchange 17 times.
 
 
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