HBL, Adamjee Insurance partner

KARACHI: Habib Bank Limited (HBL) and Adamjee Insurance Company Limited (AICL) have collaborated for providing livestock insurance, a statement said on Thursday.
The insurance arrangement would provide coverage of animal mortality in addition to covering the accidental death of the client, it added.
The partnership brings an insurance product to the industry i.e., “Working Capital Livestock Insurance Scheme” that is aimed at strengthening the HBL agriculture portfolio by mitigating significant risks and promoting greater financial empowerment for the dairy and livestock farming sector of the country. Speaking on the occasion, HBL acting head agriculture banking Habib Shah, said the agreement would facilitate in improvement of the dairy and livestock ecosystem through the provision of insurance protection to dairy farmers towards animal mortality.
Syed Ahmer Shoaib, deputy executive director commercial at AICL, said, the partnership would benefit country’s dairy farmers by enhancing their protection. “The integration of personal accident coverage of farmers in the livestock insurance is a benefitting value addition that actively enhances the agricultural landscape of Pakistan while adding to the stability and sustainability of farmers,” he stated.