The Top 12 Insurance Firms in Pakistan

The Top 12 Insurance Firms in Pakistan in 2021

In Pakistan, Insurance in Pakistan is controlled by the Insurance Ordinance, 2000.[1] In the last few years, the market has evolved into a growing and fast-growing market, usually divided into three parts: life insurance, general insurance, and health insurance. The government of Pakistan created 1948 the Department of Insurance in April 1948 as an agency of the Ministry of Commerce. The purpose of the department is to manage the care of all matters of the insurance business. Of the 54% to which the Pakistani service sector contributes to the country’s GDP in the form of Insurance, transportation storage, communications, and finance comprise 22 per cent of this industry.


The insurance sector in Pakistan is comparatively small in comparison to other countries within the region. The percentage of insurance coverage and density were very minimal compared to other countries, while the sector of Insurance was still not fully developed compared to the potential. In Pakistan, the Pakistani sector of Insurance has seen major structural changes over the past few years due to mergers of companies to meet the increasing legal requirement for minimum capital paid by the Insurance Ordinance 2000. Certain companies that were not able to raise the capital required were asked to shut the business. The Security and Exchange Commission of Pakistan (SECP), Insurance Division, is striving to improve the image of the Pakistan Insurance Industry by issuing guidelines on financial security, transparency, a code of good governance, and the best practices in the market.


Why do you need to take out Insurance?


The year 2015 saw improvements in Pakistan’s economic indicators. It included a reduction in the current account deficit due to the continuing reduction in oil prices in international markets and increased remittances received from overseas. The success of the launch of the Sukuk Bond in the international market also allowed the foreign exchange reserves to grow to record levels.


China and Pakistan have signed agreements to create the China Pakistan Economic Corridor (CPEC) between the two states. The corridor is anticipated to increase the trade, economy and connect Pakistan with other countries in the region. In the context of CPEC, Pakistan has also agreed to various energy-related projects with China to tackle the energy shortage shortly.


The economy expanded by 4.24 per cent in the fiscal year of 2015, which was the highest level of growth since 2008-2009. The year’s inflation was extremely low, reaching low levels in comparison to 2003. The services sector recorded a growth of 5 per cent, which was lower than the goal of 5.2 per cent, but it was higher than the previous year’s growth of 4.4 per cent.


Are you searching for the top and reliable insurance firms in Pakistan? If so, then read this article. Many people benefit from the insurance benefits these days in which they can obtain Insurance for life, cars and health. You can flexibly complete these tasks with the assistance of insurance firms. Let’s go over the details regarding the top insurance firms in Pakistan to help you:


We are all faced with different tragedies throughout our lives in the form of illness, accidents or even death. In most cases, it happens abruptly, and we do not even prepare for these calamities. In the wake of a sudden loss, we must fight to deal with the calamities. To safeguard yourself from the risk of these unpredictable accidents, we suggest you take out an insurance policy that covers financial loss through Insurance. Pakistan is a nation rich in history, cultural monuments, tourist attractions, and. We have written blogs about the hill towns within Pakistan, mountain ranges in Pakistan as well as deserts in Pakistan. In this post, we’ll discuss the definition of Insurance and why you should have Insurance? Also, we will list the kinds of Insurance available?


Is Insurance a thing?

In essence, Insurance has a backup plan in the event of a loss. With this type of Insurance, it is a transfer of our car, life, and health-related risk to insurance businesses by purchasing the Insurance. In other words, we transfer the risk of loss to insurance companies when we accept their conditions and terms.


Why do you need to take out Insurance?

Insurance provides assurance. It is impossible to predict what will happen in the future and the time we need help. Therefore, if we need to borrow money or rely on someone else, it’s better to have our Insurance. Here are some of the main reasons to get Insurance:

  • It provides you with financial support.
  • It relieves you of the worry of what’s likely to happen next.
  • In the event of your death, it will assist your family members to live.
  • It can help you reduce the risk.


Different Types of Insurance


Different Types of Insurance


Insurance companies offer various insurance options based on your requirements. The Insurance offered includes

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

Many insurance firms in Pakistan offer the those mentioned above with various conditions and terms. You know that AH Group is always there to help you, so we’ve gathered and compiled data and provided you with an inventory of insurance companies that are located in Pakistan (secp). In the meantime, we’ll get going.

These companies are among the best 10 insurance firms in Pakistan 2021.


The Top 12 Insurance Firms in Pakistan


1. Jubilee Life Insurance

Jubilee Life Insurance


Jubilee Life insurance started corporating on June 29, 1995, as a private limited company. The Company began operations in Pakistan on June 29 1995. It is the most reputable insurance company in Pakistan. The Company employs the term “Happiness” to signify as well as for all the right reasons. It is considered to be one of the most reliable life insurance firms in Pakistan. It is a company. It is renowned for its clear terms and conditions, speedy services, and the most effective insurance policies. The principal goal for The Company is to make its customers be able to deal with uncertainty. The headquarters for the Company is situated in Karachi. The Company is also thought to be among the top 12 insurance firms in Pakistan in 2021.


Jubilee General Insurance Company Limited is a company that is founded on the goal of honesty, confidence and collaboration. Since its founding, it has introduced new initiatives and is striving to develop new products that it provides. Headquarters is located in Karachi, the capital city of Karachi and is complemented by the diverse network of branches across all the major cities in Pakistan.


2. Adamjee Insurance

Adamjee Insurance


Launched Adamjee Insurance in Pakistan on September 28, 1960. It is one of the biggest insurers of health in Pakistan. The insurance company also offers services to various countries, including that of the United Arab Emirates. The Company is involved in different kinds of Insurance. We have listed some of the most popular kinds of Insurance Adamjee Insurance Company offers. 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 has also been awarded recognition at the national and international levels. The headquarters for the Company is in Lahore. The Company has additional branches across the country. If the Company’s growth is the same, it is not a stretch to conclude that the Company is set to become one of the top life insurance firms in Pakistan.


This Company has built itself up to be among the most reputable insurance firms in Pakistan in the 60s. It has also been established by its regional presence in the United Arab Emirates. Adamjee Insurance is wholly dedicated to its corporate vision of creating services and products that best fit its customers and offer high levels of customer satisfaction.


3. EFU Life Insurance

EFU Life Insurance


EFU Life Insurance started operating in Pakistan as an individual restricted company in 1932. It began operating in 1992. EFU is an abbreviation of Eastern Federal Union. It is renowned for its generous financial assistance to businesses and in the public sector. It is thought to be among the most reliable Life insurance firms in Pakistan. It is also listed among the 10 top insurance firms within Pakistan 2021. EFU has also introduced an app for mobile phones titled “EFU PlanIT” for Life. PlanIT”. You can use it to keep track of all the information regarding the Insurance. EFU also has the distinction to be the one Company to be accredited by ISO. They can provide customers with the most comprehensive range of most value-for-money products. A few of the most popular items are listed below.

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

The headquarter for EFU Life insurance is located in Karachi. The various locations of the Company are scattered throughout the country.


EFU Life Insurance Company was founded in 1930 and was first introduced to the Pakistan marketplace in 1947 with its Karachi head office in Karachi. It quickly proved to be a top company that set high standards for its competitors, not just within the region but also in the realm of Afro-Asian nations. The most admired asset of the Company is their ability to collaborate with each client individually to ensure that each policy is unique to the needs of the client.


4. State Life Insurance Corporation of Pakistan

State Life Insurance


State Life Insurance is a company that is controlled by The Government and offers many kinds of insurances to its customers. The principal goal behind SLIC company is to get out of the life insurance industry and make it the most reputable insurance company within Pakistan. SLIC was founded in Pakistan in the year 1972. According to reports, the Company can pay Rs.12 billion in shares with the Pakistani government. It also handles related business operations like investment in customers of policies, Real Estate, and the Stock Exchange. The Company offers various insurance plans to its clients. We’ll detail the most popular insurance plans the Company provides.

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

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


5. Alfalah Insurance Company

Alfalah Insurance


Alfalah Insurance Company was established in the year 2006 in Pakistan. Within a short period, the Company established branches in several cities in the country(Karachi, Lahore, Islamabad). Alfalah is also part of the largest Abu Dhabi Group. The list of cities in which Alfalah has Company operates is provided below.

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

Alfalah Insurance Company is also an affiliate of IAP (Insurance Association of Pakistan). FPCCI also presented the First Federation of Pakistan Chamber of Commerce and Industry to Alfalah Insurance Company in 2012. The Company is well-known for its various insurance policies. We will list the policies Alfalah Insurance Company offers.

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

The company headquarters is in Lahore. Recently, Pakistan Credit Rating Agency also evaluated Alfalah Insurance Company as in the “AA” category. Suppose you’re seeking one of the most reputable healthcare insurance firms located in Pakistan, and you are looking for a company rated “AA”. In that case, Alfalah Insurance Company should take the first position on your list.


6. Askari General Insurance Company

Askari General Insurance


Askari General Insurance company, which is also known as AGICO, was founded in 1995. It’s a private limited company under the direction of the Securities and Exchange Commission of Pakistan (SECP). It’s one of the earliest insurance firms in Pakistan, also listed on the Pakistan Stock Exchange. The goal of the Company is to provide friendly services that are professional and cooperative personnel. The greatest benefit of the Company is the speedy services. A few of the services offered by Askari General Insurance Company offers to include:

  • Online Bidding
  • Get help from a health professional
  • Health Web Portal
  • Mail Track Systems
  • Enterprise Health Web Portal
  • Monitor Your Vehicle


The Company has also been awarded a 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 provide the following kinds of Insurance:

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


The Company Limited is the current variant of the Insurance Company. They have several branches throughout Pakistan since they provide an efficient insurance policy to satisfy customers’ requirements and be fair when it comes to claiming Insurance.


7. TPL Insurance

TPL Insurance


Three phrases, “Teamwork”, “Passion” as well, as “Leadership”, respectively, are the basis of TPL Insurance Company. The Company was founded in 2005, but within only a few years, it has gained the title of one of the top health insurance insurers in Pakistan. TPL is committed to providing continuous and reliable insurance services for its customers. TPL was the only insurance company to launch an app for insurance customers to be notified of any updates regarding the insurance policies they offer. TPL values include innovation and Integrity, Ethics, Customer focus, along Corporate Social Resilience. The headquarters of TPL is in Karachi, with several offices are located in major cities in Pakistan, including Karachi, Islamabad, Lahore, Multan, Faisalabad, and Hyderabad. The insurance categories for which TPL is specialized are listed below.

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

The greatest benefit of TPL is that they offer the most effective tracker system, which is connected to the GPS locator and monitors your vehicle.


TPL was founded in 1992. It is now an affiliate that is part of Green Oaks Global Holdings Limited. The Company’s primary goal is to develop through the most effective combination of technology and human capital. It is also likely to make it the dominant insurance company in Pakistan. In addition, the range of financial statements supports this idea, revealing an evident increase in revenue and growth.


8. Alpha Insurance Company

Alpha Insurance


Alpha is an insurance private sector company that was established on December 24 1951, in Karachi. An affiliate company of the State Life Insurance Company. Operate more than 100 branches across Pakistan. The Company believes in providing high-quality services to its customers. State Life Insurance Company holds around 95% within the Company. The Company is well-known and is among the most storied companies in the list of insurance firms in Pakistan. We offer a range of insurance policies the Company provides.

  • Property Insurance
  • Marine Insurance
  • Motor Insurance
  • Bonds Insurance
  • Insurance for machinery breakdown
  • Fire Insurance
  • Burglary Insurance


The Company has seen many fluctuations in its performance until it found stability and started expanding across Pakistan. They have more than 100 branches spread across every corner of Pakistan. They deal with the business industry, Business, Travel Insurance, Logistics, Crops, and Livestock Insurance.


9. United Insurance Company (UIC)

United Insurance Company (UIC)


United Insurance Company was established in the year 1959. In a relatively short period, United Insurance established that the Company is renowned for its exceptional services. Today, they have more than 100 branches across Pakistan which are in operation across the country. Abbottabad, Faisalabad, Bahawalpur, Gujranwala, Bahawalnagar, Gilgit Baltistan, Karachi, Islamabad and Lahore. UIC provides a wide range of reasons to believe in, and some of the reasons include Comprehensive Products, Tracker Services, ISO Certified, and the quick and easy claim settlement Procedure. The 4th biggest general insurance company which provides its customers with an extensive list different insurance policy. A few of them are listed below:

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


United Insurance has been put in the context of its rich history that began in 1959. Through numerous changes in past, The Company has expanded its operations to all of Pakistan. It has more than 100 branches. They offer a wide range of insurance options and operate in collective health insurance and travel insurance and guarantee and travel bonds as well as livestock and crop insurance.


10. East-West Insurance Company

East-West Insurance


East-West Insurance Company was established in 1983. It is one of the more trustworthy insurance firms in Pakistan because of its dedication to its valued customers. The Company offers remarkable trackers which are connected to GPS locators. Therefore, it provides an exclusive GPS application to track your smartphone directly. They specialize in providing diverse kinds of policies. A few of them are listed below:

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


So the above-described listing of insurers from Pakistan (secp) includes companies that are thought to be among one of the best insurance firms in Pakistan known for their top-quality services along with their flexible conditions and terms and the most favourable insurance policies.


The Company was aware of the market and its customers and is regarded to be the most reliable Car Insurance Company in Pakistan because it is part of the Trakker network. This Company provides a separate mobile application GPS locator version of Pakistan’s map settings for individuals and cooperates with Trakker to track their vehicles.


11. Ace insurance Limited

Ace insurance Limited


The Company, therefore, exists before Pakistan, which has an impressive track record over decades and has vast networks in various African and Asian countries. It is regarded as one of the largest and most trusted Insurance companies in the Pakistani state market. They offer specific policies based on the needs of the customer. They provide Insurance in the areas of personal injury and Workers’ Compensation, Travel Insurance, Liability Insurance, Money Insurance, Plate Glass Insurance, and Credit Card Insurance.


12. Agro general insurance

Agro general insurance

The Company has corporate clients like industries, banks and business markets. It is trustworthy and highly recommended to deliver according to the client’s satisfaction.




Note: All of these companies are founded on research and are not intended for investment. We recommend you conduct a thorough study of the Company. We recommend that our readers undertake thorough research before investing in any project. We may be able to suggest the Company however it is your choice you decide. We are not responsible for any loss.


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