THE PLAYERS

The insurance industry of Pakistan comprises of some five dozen companies both
life and general, local and foreign. There are 55 private general insurance
companies 49 local and 6 foreign and 5 life insurers the state-owned State Life
Insurance Corporation (SLIC) and 4 private companies, two local and two foreign.
In addition, there are Pakistan Insurance Corporation and National Insurance
Corporation the former primarily functioning as a sole reinsurance company to
which all insurance companies in the country have to cede 20 per cent compulsory
cession plus 35 per cent of the voluntary cession while the latter insures all
government assets and properties. Both PIC and NIC enjoy a complete monopoly in
their respective fields the former enjoying the statutory cession from the
insurance companies and the latter having no fear of competition from the private
sector to enjoy the immense captive business.
Like many other industries, the life insurance business was nationalized in the early
1970s though the general insurance business was left untouched. In the early
1990s the life business was deregulated and today four private life insurance
companies, two local and two foreign, are competing with the state-owned SLIC
which enjoys an envious edge made possible primarily due to the monopoly it
enjoyed for almost two decades.

1.ACE Insurance Ltd.

2.Adamjee Insurance Co. Ltd.

3.Agro Gen. Ins. Co. Ltd.

4.Alfalah Insurance Company Ltd.

5.Alpha Insurance Co. Ltd.

6.American Life Insurance Co.(Pak.) Ltd.

7.Asia Insurance Co. Ltd.

8.Askari Gen. Ins. Co. Ltd.

9.Atlas Insurance Limited

10. Capital Insurance Co. Ltd.

11. Central Insurance Co. Ltd.

12. Century Insurance Co. Ltd.

13. Cooperative Ins. Society of Pak. Ltd.

14. Crescent Star Ins. Co. Ltd.

15. East West Insurance Co. Ltd.

16. East West Life Assurance Company Ltd.

17. EFU General Ins. Ltd.

18. EFU Life Assurance Limited

19. Excel Insurance Co. Ltd.

20. Habib Insurance. Co. Ltd.

21. IGI Insurance Limited

22. New Hampshire Ins. Co.

23. New Jubilee Ins. Co. Ltd.

24. New Jubilee Life Insurance Company Ltd.

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25. Pakistan Gen. Ins. Co. Ltd.

26. PICIC Insurance Limited

27. Premier Insurance Limited

28. Reliance Insurance Co. Ltd.

29. Saudi Pak Insurance Company Ltd

30. Security Gen. Insc. Co. Ltd.

31. Shaheen Ins. Co. Ltd.

32. Silver Star Ins. Co. Ltd.

33. Trakker Direct Insurance Limited

34. UBL Insurers Limited

35. United Ins. Co. of Pak. Ltd.

36. Universal Ins. Co. Ltd.