Adamjee Insurance Co. Ltd.
Adamjee Insurance Company Limited (AICL)
was incorporated as a Public Limited Company on September 28, 1960 and
is listed on all three stock exchange of Pakistan. The Company is also
registered with the Central Depository Company of Pakistan Limited (CDC)
and is involved in the business of general insurance. The head office
is located in Karachi and it operates a network of branches all across
Pakistan and two in UAE (Dubai & Abu Dhabi).
The Company commenced operations with a paid-up capital of Rupees 2.5 million, which has grown phenomenally in the past five decades to Rupees 1.24 billion, as on 31 December 2012.
A strong asset base, significant paid-up capital, substantial reserves, balanced portfolio mix along with steady growth in gross premium account gives Adamjee Insurance a well deserved competitive edge within the insurance industry.
The Company commenced operations with a paid-up capital of Rupees 2.5 million, which has grown phenomenally in the past five decades to Rupees 1.24 billion, as on 31 December 2012.
A strong asset base, significant paid-up capital, substantial reserves, balanced portfolio mix along with steady growth in gross premium account gives Adamjee Insurance a well deserved competitive edge within the insurance industry.
Creating a Dynamic Business Environment
AICL meets customer needs by providing innovative solutions with their varied line of products. Our dedicated employees are equipped with all the necessary skills that are
needed to serve our valued customers. AICL continues to strengthen and
expand its regional operation by tapping the potential available in the
UAE market, with the consolidation of business in Dubai. AICL with
Hollard Insurance based in South Africa launched Life assurance
operations through a separate entity name, Adamjee Life Assurance
Company Limited.
Delivering Value to Customers
AICL broadly is involved in underwriting the following classes of businesses:
- Fire and Property
- Engineering
- Health
- Marine
- Motor
- Miscellaneous businessThe diversity of AICL’s portfolio allows the Company to be the insurer
of choice, for an array of clients and needs. Whilst expanding their
customer base, AICL dedicates much effort in maintaining the highest
level of customer satisfaction. Its cornerstone philosophy is to provide
premium quality service along with forwarding the maximum benefit to
its clients. This commitment is exhibited in the importance AICL places
on excellence, integrity and ethical behavior. These values foster
confidence, especially in our clients for whom security is imperative.
The high level of confidence AICL inspires is evident in the number of
banking and financial sector clients that AICL insures.
AICL also provides coverage to Petrochemical, Factories and Industrial Risk projects of great value. AICL specializes in insuring Engineering and Telecom concerns, hence securing the greatest share of clients in those sectors. On the other end of the spectrum, AICL services the primary industries of Pakistan by covering Textile and Sugar. Accomplishing the role as a leader in Pakistan’s Insurance Industry; AICL pioneered the coverage of Energy Risks. AICL has also secured the business of foreign investors entering Pakistan to execute and assemble construction or infrastructure development projects. AICL is the principal insurer of Kidnap & Ransom, Professional Indemnity, Product Liability and other specialized lines in Pakistan.
Vision & Core Values
"Our will is to Explore, Innovate and Differentiate. Our passion is to provide leadership to the Insurance Industry."
Core Values
Core Values
- Integrity
Transparency & Honesty without Compromise
- Humility
Empathy, Self Esteem and Respect in all Relationships
- Fun at Workplace
Work Life Balance
- Corporate Social Responsibility
Service to Humanity
Corporate Social Responsibility
AICL's corporate responsibility focuses
on compliance, ethics and corporate citizenship and maintaining overall
sustainability. AICL has worked to cultivate these aspects of its
operations through enhancing communication, training and other
initiatives.
Compliance and Ethics
In order to uphold the highest standards of integrity and transparency,
regulations are becoming increasingly complex the world over. Keeping in
step with this international inclination, AICL has taken rigorous and
extensive steps to develop its capabilities and structures to meet the
set standards. Having efficiently achieved a level of compliance more
stringently than others, AICL has a competitive edge in the local
market.
AICL has restated the Compliance Performance Standards
which applies to all areas of business and processes. AICL has taken
steps in furthering the knowledge and understanding of compliance and
ethical obligations through all the levels of its management and
personnel. These initiatives include internal awareness campaigns,
specific training's in detailed regulatory areas and focused efforts on areas such as conflict of interests.
Environment, Health and Safety
AICL continues to focus on providing safe work environment to the
employees and is pleased to report zero injury for the year under
review. The company is committed to support measures within its sphere
of control, leading to reduction in environmental issues which impacts
the community.
Being an office based concern, AICL does not have a
direct bearing on the environment. Nevertheless, the company is acutely
aware of the environmental issues on hand and is committed to reduce
those impacts which are within its ability to control.
Committed to Excellence
In an era of intense hectic competition AICL stays afloat with its unwavering commitment to operational and financial discipline in producing unparalleled results,
keeping its promises and continually fulfilling its customers' needs.
Beacon of Hope - Rebuilding Communities 2011
As part of the CSR program at Adamjee Insurance; the company recently
initiated a shelter project with Awaz Cds in Muzzafargarh (Quresha
Wala-Mehmood Kot) where 5 shelters, latrines and a communal water pump
was made for the flood effectees. The project is now completed.
The project was conducted in collaboration with Awaz Cds which is the
leading NGO in Multan actively pursuing shelter operations,
rehabilitation projects with international organizations. They have been
in business since 1995 and are involved in Community development,
literacy program and disaster response program especially in Southern
Punjab. The NGO is head by Mr. Zia – Ur- Rehman.
The project was initiated in October 2011 and was completed by end of
Dec 2011. A ceremony was held to inaugurate the shelter program which
was represented by Adamjee Insurance Company, Awaz Cds NGO, Landlord of Kot Addu (Amjad Qureshi) and local residents.
Following are the details of the event:
Helping the Flood Affectees in 2010
Helping the Flood Affectees The employees of AICL contributed their one
day salary towards the flood affectees. The Company also extended a
helping hand towards this cause and topped up the money collected for
this cause. The money available was donated to the following
organizations:
J B Boda our reinsurance partners also contributed
towards the cause and we highly appreciate their generous gesture.
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