Adamjee Insurance Co. Ltd.

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.

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

• 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: The Ceremony was held on 10th Jan Mehmood KOt, (Qureshi-Wala) Muzzafargarh. It started at 11:30 a.m. Mr. Syed Farhat (Manager Adamjee Insurance Mutan Division) formally opened the ceremony and gave a brief overview of the company and its CSR activities. He also appreciated the efforts of all the Field Force of Awaz, as well as Local Community who participated in this project and helped us out in making this project successful. Next, Mr. Malik Nazir (Divisional Head Adamjee Insurance Mutan Division) spoke a few words on the Company and project which will pave ways for more development in the region. Mr. Zia-ur-Reman (CEO Awaz Cds) was then invited and he especially thanked AICL for contributing towards the project. Last but not least the Chief Guest Mian Amjad Qureshi (Landlord/Senator) delivered an inspiring speech and applauded the efforts of AICL and Awaz Cds towards the project. He said this was the need of time, as local residents are still badly affected by the flood and have lost their livelihoods. After the speeches the shelter owners were called on stage and property papers were distributed alongwith a small gift token which was contributed by the local staff of AICL Multan Office (from their own expense). The papers and gifts were distributed by Mian Amjad Qureshi and Malik Nazir Ahmed. The ceremony ended with a visit to the shelter where the ribbon cutting ceremony was held and cut by the chief Guest; keys were also handed over to the shelter owners. A Photograph Session was also held with the local community members and owner of the Shelters. Lunch boxes were distributed among the local community as well. 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: Imran Khan Flood Relief Fund "Pukar" TCF Flood Relief Fund J B Boda our reinsurance partners also contributed towards the cause and we highly appreciate their generous gesture.