About Us

Adamjee Insurance Company Limited


Adamjee Insurance Company Limited (AICL) is the largest general insurance company in Pakistan, incorporated as a Public Limited Company on 28 September 1960 and is listed on Pakistan Stock Exchange Limited. AICL has a unique advantage of having regional presence in United Arab Emirates (UAE) and maintains its standing through an unwavering commitment to its corporate philosophy. AICL’s competitive advantage is achieved by having the largest paid-up capital and reserves, and a well-diversified business portfolio.


A Truly Dynamic Business Setting
AICL aims to deliver innovative customer solutions, owing to its wide-ranging line of products. Its employees are dedicated to delivering their best for its valued customers, trained with all the skills necessary for a truly outstanding customer service. The Company’s focus on strengthening and expanding its global presence is reflected in its tapping the growth potential available in the UAE market. AICL has life assurance operations under a separate entity namely, Adamjee Life Assurance Company Limited.


Delivering Value to Customers
Adamjee Insurance is broadly involved in underwriting the following classes of business:
• Fire and Property
• Marine Aviation and Transport
• Motor
• Accident & Health
• Miscellaneous Insurance


As a pioneer in the coverage of Oil & Gas (upstream & midstream), Wind and Thermal Energy Risks, AICL has successfully assumed the role of the leading player in Pakistan’s insurance industry. The Company has also managed to secure business being brought in by foreign investors entering Pakistan to execute construction or infrastructure development projects. AICL’s confidence lies in the large number of banking and financial sector clients that AICL insures. Some of AICL’s high risk-value projects include risk-coverage provision to Petrochemical Factories and Industrial Risk projects. AICL also specializes in insuring Engineering and Telecom concerns.

Alternatively, AICL serves Pakistan’s primary industry by providing coverage to the Textile and Sugar sectors. AICL is proud to be the premier insurer of Kidnap & Ransom, Professional Indemnity, Product Liability and other specialized lines in Pakistan.


A wide range of Shariah-compliant Takaful Products are also offered through AICL’s top-of-the-line Window Takaful Operations, serving customers from all walks of life, on a much larger scale.


AICL’s customer-centric approach drives it forward in customer care. The Company’s financial strength allows the timely settlement of hefty claims. A competent team of professionals works tirelessly to ensure comprehensive customer satisfaction and a 24/7 dedicated customer care call center is always on call.

Profile of the Company

VISION

Our will is to Explore, Innovate and Differentiate.

Our passion is to provide leadership
to insurance industry.

CORE VALUES

• Integrity
• Humility
• Fun at the Workplace
• Corporate Social Responsibility

Status of the Company

Public Limited Company

Company Registration & License Number

0001190 | 115 of 1st Jan,2001

National Tax Number

0709389-6

Registered Office

Adamjee Insurance Company Limited
ADAMJEE HOUSE 80/A, Block E-1, Main Boulevard, Gulberg-III, Lahore - 54000
Phone: +92 42 35772960-79
Email: info@adamjeeinsurance.com

Details of offices

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Subsidiaries & Associated Companies

Adamjee Life Assurance Company Ltd.

(wholly owned subsidiary)

MCB Bank Limited

Nishat Mills Limited


Governance

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Board of Directors


Board of Directors has elected in Extra Ordinary General Meeting - EOGM of the Company on May 28, 2019


Umer Mansha

Chairman



Umer Mansha holds a Bachelor’s degree in Business Administration from USA. He has served on the Board of Directors of various listed companies for more than 22 years. He also holds the position of Chief Executive Officer of Nishat Mills Limited and Adamjee Life Assurance Company Limited. In addition, he has been serving on the boards of various other businesses.

Other Directorships:
Nishat Mills Limited
MCB Bank Limited
Adamjee Life Assurance Company Limited
Nishat Dairy (Private) Limited
Nishat Hotels and Properties Limited
Nishat (Aziz Avenue) Hotels and Properties Limited
Nishat (Raiwind) Hotels and Properties Limited
Nishat (Gulberg) Hotels and Properties Limited
Nishat Developers (Private) Limited
Nishat Agriculture Farming (Private) Limited
Hyundai Nishat Motor (Private) Limited
Nishat Agrotech Farm (Private) Limited
Nishat Sutas Dairy Limited


Mohammad Arif Hameed

Director



Mohammad Arif Hameed is a former Managing Director of Sui Northern Gas Pipelines Ltd., a company he served for 37 years. He has vast managerial experience in Gas Distribution, Sales, Billing, Logistics Support, Procurement, and Legal. He has served as Director on the Boards of Sui Southern Gas Company Ltd., Inter State Gas System (Pvt.) Ltd., Petroleum Institute of Pakistan and LUMS. He is a Mechanical Engineer by profession, and is registered with the Pakistan Engineering Council (PEC). He also holds a Masters in Administrative Sciences and is a Law Graduate from University of the Punjab, Lahore.

Other Directorships:
Soxlinks (Pvt) Limited


Ibrahim Shamsi

Director



Ibrahim Shamsi is the Chief Executive Officer of Joyland (Pvt.) Limited and AA Joyland (Pvt.) Limited and is the Chairman of Cotton Web (Pvt.) Limited. Ibrahim earned his MBA from the Lahore University of Management Sciences (LUMS). He has done Advance Management Program from Harvard University, USA.

Other Directorships:
A. Joyland (Pvt) Limited
Agrohub International (Pvt)Limited
Cotton Web (Pvt) Limited
Dupak Developers Pakistan (Pvt)Limited
Dupak Properties (Pvt) Limited
Dupak Tameer Limited
Fortress Square Services (Pvt)Limited
Fortress Supplies (Pvt) Limited
Fortress Financials Services (Pvt)Limited
Joyland (Pvt) Limited
MCB Islamic Bank Limited
Siddiqsons Energy Limited
Siddiqsons Limited
Siddiqsons Tin Plate Limited


Imran Maqbool

Director



Imran Maqbool serves as President & Chief Executive Officer of MCB Bank Limited. He is a seasoned professional with over three decades of diverse, international banking experience. Prior to his current role, he was the Head of Commercial Branch Banking Group, where he successfully managed the largest group of the Bank in terms of market diversity, size of the workforce, number of branches, on a countrywide basis and diversified spectrum of products. His earlier, multi-faceted Group-Head assignments included heading Wholesale Banking Group North, Special Assets Management and Islamic Banking. He was also posted as Country Head, MCB SriLanka. Before joining MCB Bank in 2002, Imran was associated with local banking operations of Bank of America and Citibank for over seventeen years, where he worked in various senior management roles in the respective banks. Imran holds an MBA degree from the Institute of Business Administration (IBA-Karachi) as well as an MS in Management from the renowned Sloan School of Management (Massachusetts Institute of Technology) in the USA. Imran also serves as Trustee/ Chairman of MCB Employees Foundation.

Other Directorships:
MCB Bank Limited
MCB Financial Services Limited (upto 20 November 2020)
Adamjee Life Assurance Company Limited


Muhammad Anees

Director



Muhammad Anees joined Mahmood Group in 2003 as a member of the Board of Directors. Under his dynamic leadership and guidance, Mahmood Group flourished as he started managing strategic decisions related to Marketing, BMR, along with Production, Administration, Audit, IT, and ERP. Mahmood Group became the top 10 exporters of Pakistan assisted by his outreach to global markets. The will of being a responsible corporate citizen motivated him to be one of the largest private solar energy producers in Pakistan. His academic background and prowess have been from the finest business schools around the globe. He polished his skills by studying Financial Management and Risk Analysis from Wharton Business School (USA) after his MBA. He channelized and sharpened his inner strategist and attended Harvard Business School (USA) for a global understanding of Strategic Management in organizations. He strongly believes that his exposure to personal development and inspiring entrepreneurial growth has enhanced during his time at the London School of Economics and London Business School, UK. Being a compassionate patriot, he is also involved in CSR activities representing Mahmood Group at various platforms in the field of education, health, clean water, and the environment.

Other Directorships:
Export Development Funds (EDF)
D.G. Khan Solid Waste Management Company Limited
Mahmood Textile Mills Limited
Masood Spinning Mills Limited
Multan Solid Waste Management Co. Limited
Pakistan Single Window
Punjab Industrial Estate Development Authority
Punjab Social Security HealthManagement Company
Roomi Foods (Pvt) Limited
Roomi Poultry (Pvt) Limited


Sadia Younas Mansha

Director



Sadia Younas Mansha has more than 19 years of diversified professional experience in Textile, Knitwear, Dairy and Agriculture Farming. She is currently serving in the capacity of Managing Director of Nishat Dairy (Pvt) Limited and Nishat Agriculture Farming (Pvt) Limited. She is also the Chief Executive Officer of Golf View Land (Pvt) Limited.

Other Directorships:
Golf View Land (Pvt) Limited
Nishat Agriculture Farming (Private) Limited
Nishat Sutas Dairy Limited
Nishat Dairy (Private) Limited
Pakgen Power Limited


Shaikh Muhammad Jawed

Director



Shaikh Muhammad Jawed was previously a Director of Din Leather (Pvt) Limited and has vast experience of running a modern tannery. Due to his technical expertise, Din Leather has received several export performances awards, merits as well as best export performance trophies for the export of Finished Leather from Pakistan and the company’s contribution is earning valuable foreign exchange for the country. Due to excellence in quality and supply, the company has also received a Gold Medallion Award from the International Export Association, UK. He has received technical education in Leather Technology from Leather Sellers College, UK.

Other Directorships:
Adamjee Life Assurance Company Ltd.


Muhammad Ali Zeb

Managing Director & Chief Executive Officer



Muhammad Ali Zeb is a fellow member of the Institute of Chartered Accountants of Pakistan and completed post graduate diploma in Organizational Leadership from Saïd Business School, University of Oxford. He has over 26 years of diverse experience in the Manufacturing, Financial and Insurance sectors. He started his professional career from Nishat Mills in 1995 and joined Adamjee Insurance as the Chief Financial Officer in 2005 where he was promoted as Executive Director Finance. He was appointed as the Chief Executive Officer in 2008 and remained in this position until March, 2011. Before rejoining Adamjee Insurance as the Chief Executive Officer in June 2013. Ali also served as the Chief Financial Officer at City School (Pvt) Limited. He has served as the Chairman, Insurance Association of Pakistan in 2014.

Other Directorships:
MCB Bank Limited
Adamjee Life Assurance Company Limited
Nishat Sutas Dairy Limited


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Management Team


Muhammad Ali Zeb

Managing Director & Chief Executive Officer



Muhammad Ali Zeb is a fellow member of the Institute of Chartered Accountants of Pakistan and completed post graduate diploma in Organizational Leadership from Saïd Business School, University of Oxford. He has over 26 years of diverse experience in the Manufacturing, Financial and Insurance sectors. He started his professional career from Nishat Mills in 1995 and joined Adamjee Insurance as the Chief Financial Officer in 2005 where he was promoted as Executive Director Finance. He was appointed as the Chief Executive Officer in 2008 and remained in this position until March, 2011. Before rejoining Adamjee Insurance as the Chief Executive Officer in June 2013. Ali also served as the Chief Financial Officer at City School (Pvt) Limited. He has served as the Chairman, Insurance Association of Pakistan in 2014.


Muhammad Asim Nagi

Executive Director Finance & Chief Financial Officer



Muhammad Asim Nagi has over 23 years of experience in Accounts and Finance. He is an Economics graduate from University College London and is a Fellow of the Institute of Chartered Accountants in England & Wales. Asim is also a member of the Institute of Chartered Accountants of Pakistan and a Fellow of the Association of Chartered Certified Accountants in United Kingdom. He has worked with a number of organizations at the management level in the UK, including Ernst & Young LLP and UHY Hacker Young LLP in London. His experience in UK comprised assurance and transaction advisory, in particular, IPOs, stock exchange flotations and reverse takeovers. He has also worked with A.F. Ferguson & Co., Chartered Accountants (a member firm of Pricewaterhouse Coopers) and has headed the Internal Audit function at DH Corporation Limited. Asim has been with Adamjee Insurance Company Limited since November 2011 and has served as the Executive Director Finance & Chief Financial Officer since 2014.


Adnan Ahmad Chaudhry

Executive Director Commercial



Adnan Ahmad Chaudhry has over 28 years of combined experience in engineering, manufacturing and insurance sectors. .He is a qualified engineer B.E. (Electrical) from UET Lahore. He has done his Master’s in Counselling and Coaching for Change from INSEAD. He is also a CMILT from London. He started his career in 1993 from Arden Engineering & Automation after which he moved to ALSTOM in 1995. He served as Senior Sales Engineer (Abu Dhabi Branch) at Al Hassan Group of Companies in 2000 and as General Manager Sales & Operations at Classic Needs Pakistan (Pvt.) Ltd. from 2003 to 2007. In 2008, Adnan joined Adamjee Insurance as the Head of Motor Department and became General Manager Operations in 2010 He is currently serving as the Executive Director Commercial. He also held the position of the Chairman of Lahore Insurance Institute.


Asif Jabbar

Executive Director Technical



Asif Jabbar has 28 years of insurance experience in the areas of underwriting, risk management, operations, and sales. He started his career in 1993 with Adamjee Insurance Company Limited where he held different leadership roles. In 2012, he moved to Marsh Operations in Pakistan with Unique Insurance Brokers as Chief Operating Officer. As an insurance broker, the areas of his specialty were energy, property, and business interruption. In 2013, he rejoined Adamjee Insurance Company Limited as an Executive Director Technical. He specialises in Project Finance Insurance. He holds a Bachelor’s degree in Commerce & Economics. He is a Fellow of the Chartered Insurance Institute, London and a Chartered Insurer from CII, London. He is also a CMILT from London.


Muhammad Salim Iqbal

Executive Director Reinsurance



Muhammad Salim Iqbal has over 32 years of experience in the insurance and reinsurance sector. Salim started his career in 1987 from Wahidis Associates (Pvt.) Ltd. He then joined Adamjee Insurance in 1989 as Probationary Officer and was progressively promoted to the position of Deputy Chief Manager - Engineering Department in 1994, after which he joined Al-Dhafra Insurance Company, Abu Dhabi in 1995 as Manager Marine Aviation and Reinsurance. Salim returned to Pakistan in 2005 and joined New Jubilee Insurance Company as Head of Reinsurance. He later joined Adamjee Insurance Company Ltd. In 2006 as Deputy General Manager, Reinsurance. He moved on to IGI Insurance Limited in 2009 as Head of Underwriting and rejoined Adamjee Insurance in 2010 as General Manager Technical. Salim is currently serving as Executive Director Reinsurance. He is a Chartered Insurer and Life Member of Pakistan Engineering Council. Muhammad Salim Iqbal is a qualified engineer B.E. (Civil Engg.) and Fellow of Chartered Insurance Institute (FCII). He has served as member of IAP’s Fire Section Committee & Engineering Insurance Sub-committee in 2009-10 and was also a member of Marine Technical Committee of Emirates Insurance Association from 1997 till 2005.


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Committee


Board Committee

Audit Committee
• Muhammad Anees
• Ibrahim Shamsi
• Shaikh Muhammad Jawed
• Umer Mansha

Ethics, Human Resource and Remuneration Committee
• Muhammad Anees
• Ibrahim Shamsi
• Muhammad Ali Zeb
• Umer Mansha

Investment Committee
• Umer Mansha
• Imran Maqbool
• Muhammad Ali Zeb
• Muhammad Asim Nagi



Management Committees

Underwriting Committee
• Umer Mansha
• Muhammad Ali Zeb
• Asif Jabbarl

Claim Settlement Committee
• Muhammad Ali Zeb
• Muhammad Asim Nagi
• Syed Ameer Hasan Naqvi

Reinsurance & Coinsurance Committee
• Muhammad Ali Zeb
• Muhammad Salim Iqbal
• Asif Jabbar
• Adnan Ahmad Chaudhry

Risk Management & Compliance Committee
• Muhammad Ali Zeb
• Muhammad Asim Nagi
• Asif Jabbar
• Syed Ameer Hassan Naqvi
• Tameez ul Haque
• Imran Ali

Company Secretary
• Tameez-ul-Haque .

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Shareholding Pattern

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Auditor of the Company

M/s. Yousuf Adil Chartered Accountants, 134-A, Abu Bakar Block, New Garden Town, Lahore, Pakistan.

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Legal Advisor

Jameel Khan


Quality Policy

The management and employees of Adamjee Insurance demonstrate commitment in satisfying customer needs for managing the risk assessment in General Insurance.In alignment with satisfaction of customer needs, processes are established to support the vision and values of the company. We use QMS-9001 as a tool to continually review and improve the effectiveness of our implemented systems. We regularly assess our processes and practices, to build on our relationship with all our stakeholders including customers, shareholders, strategic partners and employees.

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Health & Safety Policy

At AICL Health, Safety and Environmental (HSE) responsibilities are integral to the way the company operates. In carrying out all its activities, Management and all employees believe that good HSE performance contributes to business success. To realize this vision, employees work together to protect the quality of the environment and the health and safety of their colleagues, customers, and neighbors. The company aims to protect peoples’ health, and minimize any environmental impact that can occur during the performance of their job functions. The HSE policy follows all existing laws, regulations and amendments.

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Code of Conduct

The Board of Adamjee Insurance Company Ltd (the Company) has adopted a Code of Conduct (COC). The ‘COC’ defines acceptable and unacceptable behaviors. It shall be disseminated throughout the Company. The Company hereby requires directors and all its staff both executive staff and subordinate employees, the observance of the high conduct standards in the conduct of its business activities. All employees must well understand and meet the standards of professional and personal integrity expected of them to protect and safeguard the reputation of the Company. Contravention of “COC” will be regarded as misconduct.

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Adamjee Window Takaful Operations