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Top 10 Insurance Companies in Pakistan

Insurance Companies in Pakistan

We face different tragedies in our lives in the terms of accidents, illness, and death. Usually, this happens suddenly, we don’t even plan for these tragedies. Because of sudden loss, we have to struggle hard to cope with these tragedies. To protect and save yourself from these unpredictable accidents we recommend you get a financial safeguard in the terms of Insurance. Pakistan is a country rich in culture, history, monuments, and tourism. You can read our blogs on hill stations in Pakistan, mountain ranges in Pakistan, and deserts of Pakistan. In this article, we are going to have a detailed conversation on what is insurance, why should you get insurance? as well as list down the types of insurance?

What is insurance?

Basically, insurance means to have a backup in case of any type of loss. In this concept of insurance, we transfer our life, car, or health risk to the companies by getting the insurance. This means we shift the responsibility for our loss to the insurance companies by accepting their terms and conditions.

Why should you get insurance?

Insurance basically provides you the security. We never know what happens next in our lives and when we need aid. So taking loans or relying on someone else it’s better to get our self insured. We list down some major purpose of insurance:

  • It provides you financial support.     
  • It releases you from the stress of what is going to happen next.     
  • In the case of death, it will help your family to survive.     
  • It will help you to decrease risk.

Types of Insurance

Insurance Companies provide you different insurance according to your needs. These insurance includes

  • Health Insurance   
  • Life Insurance    
  • Property Insurance     
  • Guarantee Insurance    
  • Car Insurance     
  • Social Insurance      
  • Fire Insurance      
  • Liability Insurance

There are a lot of insurance companies in Pakistan that are providing above mentioned insurance policies with different terms and conditions. As you know AH Group is always here for you, therefore we have gathered and compiled the data and brought you a list of insurance companies in Pakistan (secp). So before further delay let’s get started.

Company Name Location Phone Number Launched Year Website
1. Jubilee Life Insurance 74 / 1 –A, Lalazar, M.T. Khan Road, Karachi (021) 111 111 554 1995 jubileelife.com
2. Adamjee Insurance ADAMJEE HOUSE 80/A, Block E-1, Main Boulevard, Gulberg-III, Lahore +92 42 35772960-79 1960 adamjeeinsurance.com
3. EFU General Insurance EFU House, M.A. Jinnah Road, P.O. Box 5005, Karachi +92 21 32313471-90 1932 efuinsurance.com
4. State Life Insurance Corporation of Pakistan Principal Office State Life Building No. 9, Dr. Ziauddin Ahmed Road, Karachi +92-21-99202800-9 1972 statelife.com.pk
5. Alfalah Insurance Company 5-Saint Mary Park, Gulberg-III, Lahore +92 42 111-234-222 2006 alfalahinsurance.com
6. Askari General Insurance Company 3rd Floor, AWT Plaza, The Mall, Rawalpindi +92 51 9272425-7 1995 agico.com.pk
7. TPL Insurance 11th Floor, Centerpoint, Adjacent، KPT Interchange, Qayyumabad, Karachi 021 111 000 301 2005 tplinsurance.com
8. Alpha Insurance Company 4th. Floor, Building No. 1-B, State Life Square Off I.I. Chundrigar Road, Karachi (92-21) 32416041-45 1951 alphainsurance.com.pk
9. United Insurance Company (UIC) UIG House, 2nd Floor, 6-D, Upper Mall, Lahore (+92-42) 35776475 1959 theunitedinsurance.com
10. East-West Insurance Company 27, Regal Plaza, Jinnah Road, Quetta (081) 2822913 1983 eastwestinsurance.com.pk

Above mentioned companies are considered among the top 10 insurance companies in Pakistan 2020.

1. Jubilee Life Insurance

Jubilee Life insurance starts corporating on June 29, 1995, as a public limited company. And started its business in Pakistan on June 29, 1995. This is the best insurance company in Pakistan. The company uses the word “Happiness” to represent, and for all right reasons. This is considered to be one of the best life insurance companies in Pakistan. The Insurance company is known for its easy terms and conditions, quick services and to have the best insurance policies. The main motive of the company is to make people fight with uncertain conditions. The main head office of the company is located in Karachi. This company is also considered to be in the top 10 insurance companies in Pakistan 2020. 

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2. Adamjee Insurance

Adamjee Insurance was launched in Pakistan on 28 September 1960. This is known as one of the largest health insurance companies in Pakistan. This insurance company also provides its services to different countries like the United Arab Emirates. The company deals with different types of insurances. We list down some of the major types of insurance that the Adamjee Insurance Company offers.

  • Motor Insurance     
  • Travel Insurance    
  • Miscellaneous Insurance  
  • Financial Lines Insurance     
  • Fire and Property Insurance    
  • Health Insurance
  • Marine Insurance    
  • Liability Lines Insurance     
  • Agriculture Insurance     
  • Personal Accident Insurance

The company is also awarded for national and international recognition. The head office of the company is located in Lahore. The Company has other branches in different cities of the country. If the development of the company remains the same it will not be wrong to say that the company will become one of the best life insurance companies in Pakistan.

3. EFU Life Insurance

EFU Life Insurance started operating in Pakistan as a private limited company in 1932 and started working in 1992. EFU stands for Eastern Federal Union. It is known for its most generous financial support in the private sector. It is considered to be one of the best life insurance companies in Pakistan. As well as listed between the top 10 insurance companies in Pakistan 2020. EFU has also launched a mobile phone application named “EFU Life PlanIT”. From which you can easily track all kinds of information about the insurance. EFU also holds the title to be the very first company to be certified by ISO. They offer the clients the best portfolio with the best value products. Some of the major products are mentioned below.

  • Education Planning Product   
  • Critical Illness Products     
  • Inflation Protection Benefit     
  • Unit-linked products     
  • Pension Plans  

The headquarters of EFU Life insurance is located in Karachi. Different branches of the company are spread around the country.

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4. State Life Insurance Corporation of Pakistan

State Life Insurance is a company that is owned by The Government and offers many types of insurances to the customers. The main motive of the company is to take out the life insurance business and become the best insurance company in Pakistan. SLIC was launched in Pakistan in 1972. It is said the company pays Rs.12 billion as a share to the government. It also deals with relevant business activities like an investment of policyholders, Real Estate, and the Stock Exchange. The company provides different insurance plans to its customers. We are going to list down the major insurance plans that the company offers.

  • Shad Abad Assurance   
  • Anticipated Endowment Assurance      
  • Life Assurance    
  • Endowment Assurance

The headquarters of the State Life Insurance Corporation of Pakistanis located in Lahore.

5. Alfalah Insurance Company

Alfalah Insurance Company was established in 2006 in Pakistan. In a very short time, the company spread its branches in different cities of the country(Karachi, Lahore, Islamabad). Alfalah is also a venture of the biggest Abu Dhabi Group. A list of different cities where the company has branches is mentioned below.

  • Peshawar      
  • Gujranwala       
  • Sialkot       
  • Multan  
  • Hyderabad       
  • Lahore       
  • Karachi  
  • Islamabad     
  • Faisalabad

Alfalah Insurance Company is also a part of IAP (Insurance Association of Pakistan). FPCCI also awarded the very First Federation of Pakistan Chamber of Commerce and Industry to Alfalah Insurance Company in 2012. The company is known because of its different insurance policies. We are going to list down the policies that Alfalah Insurance Company offers.

  • Marine Cargo Insurance
  • Energy Insurance
  • Engineering Insurance     
  • Health Insurance     
  • Motor Insurance      
  • Property Insurance

The company headquarters is located in Lahore. Recently Pakistan Credit Rating Agency also rated Alfalah Insurance Company as in the “AA” Category. So, If you are in search of one of the best health insurance companies in Pakistan then Alfalah Insurance Company should take first place on your list.

6. Askari General Insurance Company

Askari General Insurance company, also known as AGICO was launched in 1995. It’s a private limited company that is working under the supervision of the Securities and Exchange Commission of Pakistan (SECP). It’s one of the first insurance companies in Pakistan that is also quoted in the Pakistan Stock Exchange. The mission of this company is to offer client-friendly services with cooperative and professional staff. The best thing about the company is the quick services. Some of the services that Askari General Insurance Company offers include:

  • Online Bidding
  • Ask care Health
  • Health Web Portal
  • Mail Track Systems
  • Enterprise Health Web Portal
  • Track Your Vehicle

The company is also awarded for Certificate of Recognition, Corporate Excellence Award by the Management Association of Pakistan, and FPCCI Achievement Award Certificate by The Federation of Pakistan Chambers of Commerce and Industry. They are offering the following types of insurance:

  • Travel Insurance
  • Health Insurance
  • Motor Insurance
  • Fire Insurance
  • Marine Insurance
  • Engineering Insurance
  • Bond Insurance
  • Misc Insurance
  • Aviation Insurance

7. TPL Insurance

These three words “Teamwork”, “Passion”, and “Leadership” respectively define TPL Insurance Company. It was established in 2005 but in a very short time, it has taken the place of being one of the leading health insurance companies in Pakistan. TPL aims to provide 24/7 smooth and absolute insurance services to its valued customers. TPL is the first insurance company that has launched an insurance customer app for customers to get all updates related to their insurance policy. TPL values include Innovation, Ethics, Integrity, Customer Focus, and Corporate Social Responsibility. The head office is located in Karachi, where multiple offices are situated in major cities of Pakistan like Karachi, Islamabad, Lahore, Multan, Faisalabad, and Hyderabad. Some of the insurance categories in which TPL is specialized are given below.

  • Home Insurance
  • Travel Insurance
  • Health Insurance
  • Auto Insurance
  • Property Insurance
  • Business Interruption Insurance
  • Fire Insurance
  • Marine Insurance
  • Cyber Insurance

The best part of TPL is, they have the best tracker system, which is connected with a GPS locator and tracks your vehicle.

8. Alpha Insurance Company

Alpha is a private sector Insurance company established on December 24, 1951, in Karachi. It’s a subsidiary company of State Life Insurance Company. They have more than 100 branches all over Pakistan. The company believes in offering value-added services to its clients. State Life Insurance Company holds almost 95% shares of the company. The company has a good reputation, people trust it for being one of the oldest corporations on the list of insurance companies in Pakistan. We have some types of insurance policies that the company offers.

  • Property Insurance
  • Marine Insurance
  • Motor Insurance
  • Bonds Insurance
  • Machinery Breakdown Insurance
  • Fire Insurance
  • Burglary Insurance

9. United Insurance Company (UIC)

United Insurance Company was established in 1959. In a very short time, the company becomes well reputed for its outstanding services. Now, they have almost 100 branches in Pakistan that are operating in different cities of the country including Abbottabad, Faisalabad, Bahawalpur, Gujranwala, Bahawalnagar, Gilgit Baltistan, Karachi, Islamabad, and Lahore. UIC gives a lot of objects to trust them, some of the reasons are Comprehensive Products, Tracker Services, ISO Certified, and Quick & Easy Claim Settlement Process. Its Pakistan’s 4th largest general insurance company that facilitates the customers with a huge list of insurance policies. Some of them are mentioned below:

  • Health Insurance
  • Motor Insurance
  • Travel Insurance
  • Livestock Insurance
  • Crop Insurance
  • Engineering Insurance
  • Fire Insurance
  • Marine Insurance
  • Business Insurance

10. East-West Insurance Company

East-West Insurance Company was established in 1983. The reason for being one of the most reliable insurance companies in Pakistan is its long-term commitment to valued clients. The company has amazing trackers that are connected with GPS locators. Hence it offers a separate GPS app to track from your mobile directly. They are specialized in offering various types of insurance policies. Some of them are mentioned below:

  • Property Insurance
  • Transportation Insurance
  • Travel Insurance
  • Marine insurance
  • Fire Insurance
  • Health Insurance
  • Crops Insurance
  • Auto Insurance

So above mentioned list of insurance companies in Pakistan (secp) are considered to be the top 10 insurance companies in Pakistan, Known for their quality services, friendly terms and conditions, and the best insurance policies.

Note: All the above companies are based on research and not considered for investment. We suggest you have deep research about the companies. We always recommend our readers do proper research before investing in any type of project. We can suggest to you the company, It’s up to you what to decide. We should not be answerable for any sort of loss. Get to know about the Construction Companies in Pakistan.

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