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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.
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