Last Updated : 08/September/2021
 

Alpha Insurance Company Limited - Profile

A Subsidiary of State Life Insurance Corporation of Pakistan



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.
 
Following are the Members of the Board and the Chief Executive Officer:
 
Mr. Muhammad Izqar Khan Chairman / Director
Mr. Muhammad Rashid Director
Mr. Faisal Mumtaz Director
Mr. Mushtaq Ahmad Director
Mr. Muhammad Sohaib Usmani Director
Mr. Nadeem Bessey Chief Executive Officer
 
Some of the salient financials of Alpha are as follows:
 
                  Rupees in Million
2019 2018 2017
Paid up Capital   500   500   500
Retained Earnings & Reserves   205   206   241
Gross Premium   115   83   106
Investment & Bank Balance   796   839   912
Total Assets  1,112  1,216  1,411
 
Alpha has excellent reinsurance treaties for Fire, Marine, Miscellaneous, Bonds and Engineering Risks with the following reputed world class Re-insurers:
 
1. M/s. Best Meridian International Insurance Company
2. M/s. Pakistan Re-Insurance Company Limited
3. M/s Luban Re
4. M/s Saudi Re
 
 
 
M/S JCR-VIS Credit Rating Company has rated Alpha as “A” category company with “Negative Outlook”.
 
National Tax No. : 0709605-4.
 
Registration No. : (959 of 1951-52) 0000559
 

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