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About Us
Corporate Profile
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:
Dr. Lubna Ayub
Ms. Rafat Sultana
Mr. Muhammad Amjad
Mr. Syed Shahnawaz Nadir
Dr. Syed Arif Hussain
Director
Independent
Director
Director
Chief Executive Officer
Some of the salient financials of Alpha are as follows:
Rupees in Million
| 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
Paid up Capital | 500 | 500 | 500 | 500 | 500 | 500 | 500 | 500 |
Retained Earnings & Reserves | 327 | 218 | 188 | 213 | 200 | 206 | 206 | 241 |
Gross Premium | 527 | 351 | 255 | 174 | 97 | 115 | 83 | 912 |
Investment & Bank Balance | 994 | 779 | 808 | 734 | 801 | 796 | 839 | 912 |
Total Assets | 1666 | 1270 | 1155 | 1078 | 1083 | 1112 | 1216 | 1411 |
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
| Mr. Tariq Ikram | Independent Director/Chairman |
| Mr. Muhammad Amjad | Director |
| Mr. Syed Shahnawaz Nadir | Director |
| Dr. Lubna Ayub | Director |
| Ms. Rafat Sultana | Independent |
| Dr. Syed Arif Hussain |
| Muhammad Rashid |
| Ms. Rafat Sultana | Chairperson |
| Dr. Lubna Ayub | Member |
| Mr. Muhammad Amjad | Member |
| Head of Internal Audit | Secretary |
| Dr. Lubna Ayub | Chairperson |
| Mr. Tariq Ikram | Member |
| Mr. Muhammad Amjad | Member |
| Dr. Syed Arif Hussain – CEO | Member |
| Mr. Liaqut Ali Qamar – Head HR & Admin | Secretary |
| Syed Shahnawaz Nadir | Chairman |
| Mr. Tariq Ikram | Member |
| Ms. Rafat Sultana | Member |
| Dr. Syed Arif Hussain – CEO | Member |
| Muhammad Rashid – CFO | Member & Secretary |
| Dr. Lubna Ayub | Chairperson |
| Syed Shahnawaz Nadir | Member |
| Ms. Rafat Sultana | Member |
| Dr. Syed Arif Hussain – CEO | Member |
| Muhammad Rashid – CFO | Member |
| Baligh Uddin Khwaja – Head of Operation | Member & Secretary |
| Mr. Muhammad Amjad | Chairman |
| Mr. Tariq Ikram | Member |
| Dr. Syed Arif Hussain – CEO | Member |
| Mr. Rana Javed – Head of Claims | Member & Secretary |
| Mr. Tariq Ikram | Chairman |
| Dr. Lubna Ayub | Member |
| Dr. Syed Arif Hussain – CEO | Member |
| Mr. Umair Sattar Abro – Head of IT | Member |
| Mr. Ahsan Zafar – Head of Compliance | Member & Secretary |
| Dr. Syed Arif Hussain | Chief Executive Officer |
| Muhammad Rashid | CFO, Company Secretary |
| Mr. Khwaja Balighuddin | GM / Head of Operations |
| Mr. Liaqut Ali Qamar | Head of HR & Administration, Law |
| Mr. Umair Sattar Abro | Head of Corporate Affairs & Risk Management and IT |
| Mr. Muhammad Shahbaz | Chief Internal Auditor |
| Mr. Jawwad Yousuf | Head Of Takaful |
| Mr. Mohammad Reyaz Ahmed | Branch Head, Main Branch – Karachi |
| Mr. Muhammad Abbas | Branch Head – Karachi South Division |
| Mr. Wahid Patel | Branch Head, Central Branch – Karachi |
| Ms. Saiqa Bano | Branch Head Corporate Branch – Karachi |
| Mr. Abdul Qadus Mirza | Karachi Eastern Branch – Karachi |
| Mr. Najam Ul Hassan | Branch Head, Bank Square Branch – Lahore |
| Mr. Babar Shahzad | Branch Head – Multan |
| Mr. Abdul Sattar Javed | Branch Head – Faisalabad |
| Mr. Abid Hussain | Branch Head – Islamabad |
| Mr. Javed Iqbal Chauhdhry | Branch Head – Islamabad Blue Area |
| Mr. Rao Muhammad Ashiq Sajid | Branch Head – Southern Punjab Multan Branch |
| BDO Ebrahim & Co. Chartered Accountants |
| M/s Sajids Law Associates |
| M/s. EY Ford Rhodes, Chartered Accountants |
| United Bank Limited |
| Allied Bank Limited |
| JS Bank Limited |
| MCB Limited |
| National Bank of Pakistan |
| Soneri Bank Limited |
| Meezan Bank Limited |
| Bank Al Habib |
| M/s. Ocean International Reinsurance Company |
| M/s. Pakistan Re-Insurance Company Limited |
| Best Meridian International, USA |
| M/s. Labuan Reinsurance (L) Ltd |
| M/s. Saudi Reinsurance Company |
| M/s. Tunis Reinsurance Company |
| M/s. MISR, Egypt |