Last Updated : 18/Oct/2018
 

Alpha Insurance Company Limited - Profile

A Subsidiary of State Life Insurance Corporation of Pakistan

National Tax No. : 0709605-4

Registration No. : (959 of 1951-52) 0000559



Alpha Insurance Company Limited is one of the oldest and financially sound general insurance companies operating in Pakistan. We have the honour of having our Chairman prominent Pakistanis like Mr. Yusuf A. Haroon, Mr. H.B. Tayabji and Mr. Y.N. Chinoy. It underwrites all classes of general insurance business including Health and Accident and is a member of Insurance Association of Pakistan.
 
Alpha was incorporated in the year 1951 and is a Subsidiary of State Life Insurance Corporation of Pakistan which owns more than 95% of its shareholdings. Alpha in its own right is one of the leading general insurance companies and enjoys very good reputation for providing excellent services to its clients with prompt settlement of claims.
 
The present Chairman, Board of Directors and MD/CEO are as under:
 
Mr. Ghufran Memon Chairman
Mr. Mushtaq Ahmed Shah Director
Mr. Muhammad Rashid Director
Mr. Mushtaq Ahmad Director
Mr. Athar Hussain Khokhar Director
Mr. Nadeem Bessey CEO
 
Some of the salient financials of Alpha are as follows:
 
                    Rupees in Million
2017 2016
Paid up Capital   500   404
Retained Earnings & Reserves   156   216
Gross Premium   106   151
Investment & Bank Balance   791   734
Total Assets  1,322  1,106
 
Alpha has excellent reinsurance treaties for Fire, Marine, Miscellaneous, Bonds and Engineering Risks with the following reputed world class Re-insurers:
 
1. M/s Luban Re
2. M/s Pak Re (PRCL)
3. M/s Saudi Re
4. M/s Oman Re
 
 
 
M/S JCR-VIS Credit Rating Company has rated Alpha as “A” category company with “Stable Outlook”.
 

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