Jubilee Insurance (Urdu: جوبلی بیمہ) is a Pakistani general and life insurance business headquartered in Karachi. It is a subsidiary of Swiss for-profit organization Aga Khan Fund for Economic Development.[2] It is based in Karachi, Pakistan. It is one of the largest insurance companies in Pakistan.[3]
 | |
_(cropped).jpg) Headquarters of Jubilee Insurance on I.I. Chundrigar Road in Karachi | |
| Company type | Public |
|---|---|
| PSX: JGICL PSX: JLICL | |
| Industry | Insurance |
| Founded | 1953 |
| Headquarters | Karachi, Pakistan |
Number of locations | 224[1] (2022) |
Key people | |
| Revenue |  Rs. 50.3 billion (US$170 million)[1] (2022) |
 Rs. 3.3 billion (US$11 million)[1] (2022) | |
| Rs. 2.07 billion (US$7.2 million)[1] (2022) | |
| Total assets | Rs. 187.8 billion (US$650 million)[1] (2022) |
| Total equity | Rs. 13.9 billion (US$48 million)[1] (2022) |
Number of employees | 2,031[1] (2022) |
| Parent | Aga Khan Fund for Economic Development |
| Website | jubileegeneral jubileelife |
History edit
Jubilee Insurance history goes back to May 1953 when it was incorporated as New Jubilee Insurance Company Limited by Fancy family.[4] In 1955, it was listed on the Karachi Stock Exchange. The life insurance business was nationalised in 1972 and later Fancy family sold it to Hashwani family.[4][4]
In 2002, the Aga Khan Fund for Economic Development acquired the Pakistani operations of CGU International Insurance plc.[5] CGU International Insurance founded life insurance business in Pakistan in 1995.[6][7]
In 2011, New Jubilee Insurance was renamed as Jubilee Insurance.[6]
In 2015, Jubilee entered Takaful insurance market in Pakistan.[8][7]
On July 29, 2020, Jubilee was awarded the Effie Award in the insurance category.[9]
See also edit
References edit
- ^ a b c d e f g "Jubilee Life Insurance Annual Report 2022" (PDF). jubileelife.com. Retrieved 29 November 2023.
- ^ "Profits of life insurance companies rise 28.5%". The Express Tribune. July 23, 2016.
- ^ "Insurance premium: 'Proposed tax will hurt insurance sector'". The Express Tribune. June 16, 2016.
- ^ a b c "Insurance: NEW JUBILEE INSURANCE COMPANY LIMITED - Year Ended December 31 2005". Brecorder. May 3, 2006.
- ^ "AKFED to acquire CGU shareholding". DAWN.COM. 2002-09-18. Retrieved 2021-06-21.
- ^ a b D’Souza, Zoha Habib | Vanessa (August 28, 2018). "A matter of life and death". Aurora Magazine.
{{cite web}}: CS1 maint: multiple names: authors list (link) CS1 maint: numeric names: authors list (link) - ^ a b Hussain, Dilawar (October 10, 2016). "Private life insurance companies end SLIC dominance". DAWN.COM.
- ^ "Pakistan's Islamic insurance industry landscape set for makeover". The Express Tribune. September 6, 2015.
- ^ Report, Recorder (2020-07-30). "Jubilee Life wins Effie Award in Insurance Category". Brecorder. Retrieved 2020-07-30.
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