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Zafar Hijazi SECP chairman arrested for tampering

SECP chairman Zafar Hijazi arrested for tampering with record of Sharifs’ companies.Federal Investigation Agency (FIA) on Friday arrested Security & Exchange Commission of Pakistan (SECP) chairman Zafar Hijazi from outside a special court in Islamabad after his bail application was rejected. The SECP chairman faces charges of tampering with records of Sharif family’s companies. The joint investigation team (JIT) – ... Read More »

Pakistan’s insurance industry boost with CPEC

The China-Pakistan Economic Corridor (CPEC) will provide new opportunities for the local insurance industry especially the non-life sector, the State Bank of Pakistan (SBP) said in its annual Financial Stability Review 2016. “Pakistan is expected to witness continued growth in almost all sectors of the insurance industry with significant growth expected in the Takaful segment,” said the report. However, the ... Read More »

Pak Qatar Family Takaful assigns positive outlook

Pak Qatar Family Takaful assigns positive outlook by JCR-VIS Credit Rating Company.JCR-VIS assigns positive outlook to,JCR-VIS Credit Rating Company Ltd. (JCR-VIS) has maintained the Insurer Financial Strength (IFS) rating of Pak-Qatar Family Takaful Limited (PQFTL) at ‘A’ (Single A). Outlook on the assigned rating has been revised from ‘Stable’ to ‘Positive’. The rating assigned to Pak-Qatar Family Takaful Limited (PQFTL) ... Read More »

LONDON-A.M. Best has affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of “bbb” of Jubilee General Insurance Company Limited (Jubilee) (Pakistan). The outlook of these Credit Ratings (ratings) remains stable. The ratings reflect Jubilee’s track record of good operating performance, well-established business profile in Pakistan and solid risk-adjusted capitalisation. An offsetting rating factor is ... Read More »

Proposed Insurance Bill 2017 destroy entire industry

Proposed Insurance Bill 2017 will destroy entire Insurance Industry this was sated in a meeting of Professional Association of Insurance Surveyors (PAIS).PAIS emergency meeting was held in Lahore, which was chaired by PAIS President Junaid Zaidi. The meeting was called after the news published in media that Security and Exchange of Pakistan (SECP) has been found involved in record tempering. ... Read More »

Allianz-EFU to launch Window Takaful operations

Allianz-EFU Health Insurance Ltd, the first specialized health insurance company in Pakistan introduced Window Takaful Operations, licensed by the Securities and Exchange Commission of Pakistan (SECP). Allianz EFU Window Takaful Operations will be available to both Corporate and Individual Health Takaful customers. Allianz EFU’s Health Takaful offers Shariah compliant approved products providing comprehensive medical coverage that is reliable, convenient, hassle ... Read More »

All vehicles in the country should be insured-Hassan-Ali-Abdullah

Chairman Insurance Association Pakistan Hasan-Ali-Abdullah, in his speech suggested that all vehicles in the country should be insured. In case of any incident the government pay huge amount to the affected people. If vehicles are insured the burden will shift to the private sector, he added.Federal Insurance Ombudsman M. Raeesuddin Paracha has said that insurance penetration in Pakistan is lowest ... Read More »

State-Life Insurance earned Rs 1.048b profit

State-life Insurance earned Rs.1.048b.This was stated by the Chairman State life in  PAC meeting  held under its Chairman Syed Khursheed Shah in which the SLIC and NICL gave a briefing on their 10-year performance to the committee. During the meeting, SLIC Chairman Shoaib Mir explained that the State Life Insurance Corporation has been formed under the LINO 1972. The institution ... Read More »

Ayaz-Dawood,elected as Chairman Modaraba Association

Ayaz Dawood, Chief Executive, B R R Guardian Modaraba has been ayaz-dawoodelected as Chairman of NBFC & Modaraba Association of Pakistan According to the announcement, Syed Nauman Akhtar, CEO, Security Leasing Corporation Limited, Aamir Malik, CEO, First Punjab Modaraba, Khaqan H Read More »

State-Life Insurance became a company from a Corporation

At last after Completing  44 years  Successful  Journey as life insurance jaunt in public sector State-Life Insurance became a company from a Corporation. The Senate on Friday passed the State Life Insurance Corporation (Re-organization and Conversion) Bill, 2016 aimed at converting the entity into a public limited company. Minister for Law and Justices Zahid Hamid on behalf of Minister for Commerce ... Read More »