Life is filled with unpredictability, with unforeseen events such as illnesses, accidents, or the sudden loss of a loved one. This unpredictability makes insurance a crucial tool for financial and mental security. Having insurance serves as a safety net during unexpected tragedies, providing both financial support and peace of mind. When choosing an insurance provider, important factors to consider include the company’s reputation, the inclusiveness of its coverage options, and the quality of customer service.
Additionally, the insurance industry in Pakistan offers a range of great business opportunities. With the growing awareness about the importance of insurance, venturing into starting an insurance agency or becoming an insurance advisor can be a promising business idea in Pakistan.
But it’s hard to trust anyone at first impression. To make it clear, we have acquired and compiled a list of insurance companies in Pakistan.
So let’s have a look into them:
List of Insurance Companies in Pakistan (SECP):
| Companies | Location | Phone Number | Website |
|---|---|---|---|
| 1. Adamjee Insurance | Adamjee House 80/A, block E-1, Main Boulevard, Gulberg-III, Lahore | (+92) 42 35772960-79 | adamjeeinsurance.com |
| 2. EFU Life Insurance | EFU House, M.A. Jinnah Road, P.O. Box 5005, Karachi | (+92)21 323 13471-90 | efuinsurance.com |
| 3. Jubilee Life Insurance | Jubilee Life Insurance Building, 74/1-A, Lalazar, M. T. Khan Road, Karachi | (021) 111 111 554 | jubileelife.com |
| 4. State Life Insurance | State Life Building No. 9, Dr. Ziauddin Ahmed Road, Karachi | (+92)-21-99202800-9 | statelife.com.pk |
| 5. Alfalah Insurance Company | 5-Saint Mary Park, Gulberg-III, Lahore | (+92) 42 111-234-222 | alfalahinsurance.com |
| 6. United Insurance Company | UIG House, 01, Upper Mall, Lahore | 0800-84275 | unitedinsurance.com |
| 7. TPL Direct Insurance | Plot 19 B, Ground Floor, Sindhi Muslim Cooperative Housing Society Block B Sindhi Muslim CHS (SMCHS), Karachi | (021) 111 000 301 | tplinsurance.com |
| 8. Pak Qatar General Takaful | Suite # 402-404, Business Arcade , Plot 27/A, Block 6, P.E.C.H.S. , Sharea Faisal, Karachi | 021- 34380357-61 | pakqatargeneraltakaful.com |
1. Adamjee Insurance
Adamjee Insurance, established on September 28, 1960, stands as a prominent Public Limited Company in Pakistan’s insurance sector. Renowned for its comprehensive government insurance services, the company has a significant role in providing relief during national crises. Also, its influence extends beyond Pakistan, with operations in the United Arab Emirates. Headquartered at Adamjee House, 80/A, Block E-1, Main Boulevard, Gulberg-III, Lahore, the company boasts a strong financial standing, with a reported Gross Premium of PKR 22.50 billion in 2020. Notably, their outreach extends to prime locations, including shopping malls in Islamabad, making their services easily accessible to a diverse clientele.
It is particularly acclaimed for its health insurance services, often being the first choice among consumers in Pakistan. This reputation is backed by high customer satisfaction rates and a wide network of service points across the country. As one of the top-reviewed and most trusted insurance companies in the country, Adamjee Insurance also plays a pivotal role in safeguarding the interests of real estate companies in Pakistan.
But besides this, there are a lot more types of securities given by them. Some of them are written below:
- Motor Insurance
- Travel Insurance
- Engineering Insurance
- Miscellaneous Insurance
- Health Insurance
- Financial Lines Insurance
- Fire and Property Insurance
- Marine Insurance
- Liability Lines Insurance
- Agriculture Insurance
- Personal Accident Insurance
They are spreading the network all over the country by opening their branches in different cities. There is no doubt if we recognized it to be one of the largest insurance companies in Pakistan. These companies also have offices in many shopping malls in Islamabad as well.
2. EFU Life Insurance
Next on our list is EFU Life Insurance. We are sure you must be familiar with this one of the best life insurance company in Pakistan. As the name tells its specialty, it’s a company that mainly deals in the life insurance sector. It’s a private limited company established in 1932, however, initiated to operate in 1992. EFU is a short form of Eastern Federal Union. The best part is they have also offered their services via an application called EFU Life PlanIT. It is located at EFU House, M.A. Jinnah Road, P.O. Box 5005, Karachi. It is the top priority of citizens because of the exceptional and quick dealing methods. They are offering life insurance specifically but also encounter other types of Insurances and products. Some of them are written below:
- Education Planning Product
- Critical Illness Products
- Inflation Protection Benefit
- Unit-linked products
- Pension Plans
- Miscellaneous Insurance
- Motor Insurance
- Buy Travel Insurance
- Marine and Aviation Insurance
It is noteworthy that this insurance company is the first to claim ISO certification. For those seeking reliable and top-tier financial support in the private sector, EFU stands as a prime choice. Some of the best real estate companies in Peshawar often utilize the services of reputable insurance companies like EFU to provide security and benefits for their employees, illustrating the interconnectedness of these industries in providing comprehensive financial solutions.
3. Jubilee Life Insurance
Jubilee Life Insurance was founded on 29 June 1995, and in a very little time, it has gained popularity and become one of the leading life insurance companies in Pakistan. The reason for being such a trustworthy and most reliable insurance company is the shares that have been valued on Pakistan Stock Exchange Limited – PSX. The head office is in Jubilee Life Insurance Building, 74/1-A, Lalazar, M. T. Khan Road, Karachi. The company has been appointed as AA+ (Double A Plus) IFS – Insurer Financial Strength by JCR-VIS Credit Rating Co. Ltd. Jubilee Life Insurance has several associate companies that work under its supervision. Mainly it is specialized in offering life insurance but it also works in other sectors. Some of them are mentioned below:
- Individual Life Insurance
- Bancassurance
- Micro Insurance
- Corporate Insurance
- Online Insurance
- Family Takaful
It is the only insurance company that not only works in Pakistan but has also spread its network in significant countries including Kenya, Uganda, Tanzania, Mauritius, Burundi, and Kyrgyzstan. Given that numerous real estate companies utilize insurance services, it’s important to stay informed about the factors affecting the real estate market in Pakistan. This awareness can provide valuable insights into both sectors and their interplay, enhancing decision-making for businesses and individuals alike.
4. State Life Insurance
State Life Insurance is a government insurance company in Pakistan, it has been a major player since its establishment in 1972. It aims to elevate the living standards of its customers. What sets State Life apart is its diverse range of offerings, from individual to group insurance plans. It stands as one of the oldest insurers in the country, with its main office located at State Life Building No. 9 in Karachi. An interesting fact about State Life is its significant financial contribution to the government – it paid around Rs.12 billion to register as a Public Limited Company. This reflects not just its financial strength but also its commitment to adhering to regulatory standards and enhancing trust among its clientele.
This aspect of State Life Insurance becomes particularly relevant when considering real estate investments. For example, when planning to purchase a house, one of the first and most crucial steps is to ensure it is properly insured. Let’s say you are looking for the top areas for buying houses in Lahore. You should not only focus on great living spaces but also emphasize the importance of securing your investment with proper insurance. For instance, neighborhoods like DHA Lahore and Bahria Town have seen a steady increase in property values, with average prices rising by approximately 10-15% annually.
They are found to encounter different insurance policies. Some of them can be seen below:
- Whole Life Insurance
- Endowment Insurance
- Shad Abad Insurance
- Anticipated Endowment Insurance
- Jeevan Sathi Insurance
- Child Protection Insurance
- Wealth Builder Plan
- Supplementary Covers
- Health Insurance
- Life Insurance
5. Alfalah Insurance Company
Last but not least, we have Alfalah Insurance Company. It is a part of the Abu Dhabi Group. The company started operating in 2006, and within a few years, it has created the worth and become one of the leading insurance companies in Pakistan. Always remember to get your property insured properly but first get to know the profitable property Investment in Pakistan before investing in any property. Being a reputed company, it owns all the responsibilities to provide its customer with all the securities he wished. It has initiated different registered branches all over the country including Islamabad, Karachi, and Lahore. An important point about Alfalah Insurance Company is it’s merged with the Insurance Association of Pakistan – IAP. It has created a new pitch to offer such insurance policies in a highly professional manner.
Bank Alfalah is also one of the ventures of the same Abu Dhabi Group. The bank is well-known in Pakistan for its excellent services, including self-service banking, online banking, etc. It is also one of the renowned banks providing home loans in Pakistan on easy terms & conditions.
Some of the insurance policies are mentioned below:
- Health Insurance
- Property Insurance
- Miscellaneous Insurance
- Engineering Insurance
- Motor Insurance
- Marine Cargo Insurance
- Energy Insurance
- Travel Insurance
The Pakistan Credit Rating Agency (PACRA) has recently upgraded Alfalah Insurance Company to the “AA” category, recognizing its strong financial stability. This upgrade is significant for those seeking to insure their properties. Additionally, when it comes to investing in shopping malls, a key advantage is that they are thoroughly insured, providing investors with added security and peace of mind.
6. United Insurance Company
Without UIC, the list of insurance firms in Pakistan is incomplete. It was founded in 1959 with the goal of providing customer-friendly financial programs to the country’s business community. Individuals and businesses can choose from a variety of options offered by the organization.
United Insurance Company is based in Lahore, Pakistan, and has more than a hundred branches around the country. You may also purchase their programmes online, life insurance companies in Pakistan, which are tailored to your specific requirements. It is also Pakistan’s fourth largest general insurance business, with a reputation for providing comprehensive coverage.
Apart from insurance sector , real estate sector of Pakistan is also booming , but you need some things to consider before investing in real estate Pakistan .
7. TPL Direct Insurance
TPL Insurance is the first, top insurance company in Pakistan, the insurance company in Pakistan to sell general insurance products directly to the consumer. It was launched in 2005 with the vision to deliver superior quality insurance products to individuals and corporate clients. Now, it’s one of the recognized insurance companies in Pakistan. It also has its app for those who‘re looking for quick car insurance and want updates at their fingertips. Other than this, you can also find a wide range of comprehensive insurance solutions including Islamic insurance plans on their website. Most of these insurance companies head quarters are located in Karachi , If you are planning to buy a house in Karachi then first get to know the top areas for buying houses in Karachi and then plan to invest.
8. Pak Qatar General Takaful
Pak Qatar was the first insurance firm in Pakistan to offer Takaful insurance. It offers two types of Takaful: General Takaful and Family Takaful. Mufti Muhammad Hassaan Kaleem certifies all of the company’s products and activities as Shariah-compliant. It has a substantial presence in Pakistan, with over a hundred locations and an online portal and mobile applications. PQGT’s largest shareholders are Qatar Insurance Islamic Company and Qatar International Islamic Bank. All of their items are made in accordance with Islamic beliefs and guidelines.
Conclusion:
In conclusion, Realtorspk.com has explained some of the top insurance companies in Pakistan, all committed to protecting our future. We encourage you to explore these options and choose the one that best fits your needs. Remember, the right insurance company can make a significant difference in your life, offering peace of mind and financial security for the unforeseen challenges ahead.
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