 |
| |
|
Alpha Insurance Company Limited -
Profile |
| |
|
Alpha Insurance Company Ltd. is one of the oldest and financially
sound general insurance companies operating in Pakistan. We have the
honour of having as our Chairman prominent Pakistanis like Mr. Yusuf
A. Haroon, Mr. H.B. Tayabji and Mr. Y.N. Chinoy. Late Mr. Shaiekh
Mujeeb-ur-Rehman also used to work for Alpha in former East Pakistan.
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 over 88% of its shareholdings. Chairman State Life
is always the Chairman of Alpha and all the Board Members are also
nominees of State Life. Alpha in its own right is one of the leading
general insurance companies and enjoys good reputation for providing
excellent service to its clients with prompt settlement of claims. |
| |
| The present Board of Directors
is as under: |
| |
| Mr. Shahid Aziz Siddiqui |
Chairman (Chairman State Life) |
| Mr. Syed Yawar Ali |
Director |
| Mr. Rasheed Y. Chinoy |
Director |
| Mr. Maudood Ahmad Lodhi |
Director |
| Mr. Shoaib Mir |
Director |
| Mr. Ansar Hussain |
Director |
| Mr. Umair Khan |
Managing Director and CEO |
| |
| Some of the salient features
of Alpha are as follows: |
| |
| Paid up Capital |
Over 303 million |
| Gross Premium 2010 |
Over 139 million |
| General Investment & Bank Balance |
Over 356 million |
| Reserves |
Over 265 million |
| |
| Alpha has an excellent Treaty
for Fire, Marine, Miscellaneous, Bonds and Engineering Risks with the
following reputed world class Reinsures. The Treaty is apportioned as
under: |
| |
| M/S Mitsui Sumitomo |
--40% |
| M/S Mapfre Re |
--20% |
| M/S Pakistan Reinsurance Co. Ltd |
--20% |
| Alpha’s Net Retention |
--20% |
| |
| Both M/S Mitsui Sumitomo and
Mapfre Re are rated AA. |
| |
| In accordance with Alpha’s
Treaty arrangements, Alpha can underwrite Fire, Property and Marine
Cargo risks up to two hundred million rupees. Engineering up to one
hundred million rupees and Marine Hull up to fifty million rupees.
Any surplus after these limits can be faculatively ceded locally or
abroad. |
| |
| M/S JCR-VIS Credit Rating
Company has rated Alpha as “A-” category company. |
| |
Download Profile |
|
