HABIB INSURANCE COMPANY LIMITED

HABIB INSURANCE COMPANY LIMITED

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Company Overview
Habib Insurance Company Limited is engaged in the provision of non-life insurance services, particularly fire, marine, medical, engineering, automobile and miscellaneous insurance. The company was established in 1942 and has its registered office located in Karachi, Pakistan. It is publicly traded on the Karachi Stock Exchange under the ticker symbol HICL.
Habib Insurance Company is among the ten largest general insurance companies in Pakistan. The company offers fire insurance, which covers the risk of insurance interest against the perils of fire damage and additional perils such as riot and strike, malicious damage, atmospheric disturbance, explosion, impact damage, aircraft damage, earthquake fire and shock, and burglary. Its marine insurance covers the risk of the insured, against the peril of loss during the transit of goods by sea, air, truck, trailer, and rail. In addition, the company offers motor and miscellaneous insurance that comprises comprehensive motor insurance, machinery breakdown insurance, personal accident, public liability, banker’s blanket, and medical insurance.
Habib Insurance aims to provide high quality service to all its customers, and continue giving its shareholders a consistent return on their investment.
Business Summary
The Company Limited is engaged in general insurance business.
Description and history
The Company Limited is engaged in general insurance business. The Company was established in 1942 in Bombay, India with a paid-up share capital of Rs.2.5 million. After independence, Habib Insurance Company moved to Pakistan and then become a more prominent name in the insurance industry. In 1972, the group had to face a major debacle; the Government of Pakistan nationalized the life insurance business of habib insurance. Later in 1974, the renowned habib bank was also nationalized.

Even with this major setback, the group had stayed focused in general insurance business. Today by the Grace of Almighty Allah, Habib insurance is among the top 10 general insurance companies in Pakistan.

The Company is known as one of the best-managed companies in Pakistan. Due to its prudent underwriting policy, habib insurance has always ostensibly rendered profile with a consistent increase in bottom-line. A measure of the company s performance can be gauged from the fact that it has paid back to its shareholders cash dividends and bonus shares in excess of two hundred time their original investment.

The Company also has reinsurance arrangements with leading reinsurance companies of the world including Korean Re-Seoul, Hanover re-Germany, Arab insurance group Bahrain, mitsui sumitomo Japan etc.

The Karachi Stock Exchange in 1981 instituted an award for the top 25 companies listed. Habib insurance has been eulogized for its outstanding performance and has won this award eleven times, for nine consecutive years from 1981-1989, then in 1993 and in 1997.

Business Line
Engaged in the provision of non-life insurance services, particularly fire, marine, medical, engineering, automobile and miscellaneous insurance
Subsidiary
BANK AL HABIB
Advisor
KPMG
IPO date
1949
US SIC Code
6331
Company Address
Habib Square, M.A Jinnah Road
1st Floor State Life Building No.6
City province or state postal code
74000, KARACHI
Phone: +92 21 242 4030
Fax: +92 21 242 1600
Country address: PAKISTAN
Website url: www.habibinsurance.net