Habib Insurance Company Limited, one of the pioneer projects of Habib Group was established in 1942 in Bombay, with a paid-up share capital of Rs 2.5 million. After partition, the company moved its head office to Karachi and over the years raised its capital through the issue of bonus shares.
By maintaining a sound underwriting policy, Habib Insurance Company Limited earned the reputation of being very profitable and liquid. In 1972, despite life insurance business being nationalized, the company managed to achieve one of the highest rates of return in the industry. Indeed the company in the form of returns has paid back to its shareholders cash dividends and bonus shares in excess of two hundred times of their investment.
By adopting its prudent underwriting policies, Habib Insurance Company Limited has achieved to secure amongst the most solvent reserves and capital to net premiums, gross premiums, and claims ratios in the industry.
Habib Insurance Company Limited continues to maintain its selective approach towards the business it underwrites, and is now looking ahead to the rapidly changing industrial and financial environment in Pakistan. New products and new markets are being explored, and the company is investing its resources in people and ideas to meet these challenges. The company aims to, Inshallah, provide high quality service to all their customers, and to continue giving its shareholders a consistent return on their investment.
The Karachi Stock Exchange Limited, in 1981 introduced their scheme of acknowledging the top 25 companies of the stock exchange. Habib Insurance Company Limited has been honored by them and has received the award eleven times, for the years 1981, 1982, 1983, 1984, 1985, 1986, 1987, 1988, 1989, 1993, and for 1997.
Our general insurance business focuses on Fire, Marine, Motor, Engineering, Medical and Miscellaneous Insurance. We have technical underwriters who have built up our six decades of insurance experience and have amongst the best reinsurance arrangements in the world with top companies.