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. Tariq Ikram Chairman/Director
Mr. Abdul Shakoor Shaikh Director
Mr. Faisal Mumtaz Director
Mr. Muhammad Amjad Director
Mr. Syed Shahnawaz Nadir Director
Mr. Faisal Haroon Zai Director
Dr. Ghazala Nafees Director
Dr. Syed Arif Hussain Chief Executive Officer
Some of the salient financials of Alpha are as follows:
Rupees in Million
2022 2021 2020 2019 2018 2017
Paid up Capital 500 500 500 500 500 500
Retained Earnings & Reserves 188 213 200 206 206 241
Gross Premium 255 174 97 115 83 106
Investment & Bank Balance 808 734 801 796 839 912
Total Assets 1,155 1,078 1,083 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. Ocean International Reinsurance Co. Ltd.
2. M/s. Best Meridian International Insurance Company
3. M/s. Labuan Reinsurance
4. M/s. MISR Insurance Company
5. M/s. Saudi Reinsurance Company
6. M/s. Tunisian Reinsurance Company
7. M/s. Pakistan Re-Insurance Company Limited
For Retakaful Operator:
1. M/s. Pakistan Re-Insurance Company Limited – WTO
2. M/s. Kenya Reinsurance Corp Ltd. WTO
3. M/s. Tunis Retakaful Window
M/S JCR-VIS Credit Rating Company has rated Alpha as “A” category company with “Stable” Outlook.
National Tax No. : 0709605-4.
Registration No. : (959 of 1951-52) 0000559