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. Faisal Mumtaz
Mr. Muhammad Amjad
Mr. Syed Shahnawaz Nadir
Dr. Syed Arif Hussain
Director
Director
Director
Director
Director
Chief Executive Officer
Some of the salient financials of Alpha are as follows:
Rupees in Million
2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
---|---|---|---|---|---|---|---|
Paid up Capital | 500 | 500 | 500 | 500 | 500 | 500 | 500 |
Retained Earnings & Reserves | 218 | 188 | 213 | 200 | 206 | 206 | 241 |
Gross Premium | 351 | 255 | 174 | 97 | 115 | 83 | 912 |
Investment & Bank Balance | 779 | 808 | 734 | 801 | 796 | 839 | 912 |
Total Assets | 1217 | 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
Corporate Setup
BOARD OF DIRECTORS
Mr. Tariq Ikram Independent Director/Chairman
Mr. Faisal Mumtaz Director
Mr. Muhammad Amjad Director
Mr. Syed Shahnawaz Nadir Director
Dr. Lubna Ayub Director
Ms. Rafat Sultana Director
Chief Executive Officer
Dr. Syed Arif Hussain
CHIEF FINANCIAL OFFICER / COMPANY SECRETARY
Muhammad Rashid
Board Committees:
– Audit, Procurement and Legal Committee
Ms. Rafat Sultana
Dr. Lubna Ayub
Mr. Faisal Mumtaz
Mr. Muhammad Amjad
Head of Internal Audit
Chairperson
Member
Member
Member
Secretary
– Ethics, Human Resource, Remuneration, Nomination Committee
Mr. Tariq Ikram
Mr. Muhammad Amjad
Dr. Syed Arif Hussain – CEO
Mr. Liaqut Ali Qamar – Head HR & Admin
Member
Member
Member
Secretary
– Investment Committee
Mr. Tariq Ikram
Ms. Rafat Sultana
Dr. Syed Arif Hussain- CEO
Muhammad Rashid – CFO
Member
Member
Member
Member & Secretary
Management Committees:
– Underwriting, Reinsurance & Co-Insurance Committee
Syed Shahnawaz Nadir
Ms. Rafat Sultana
Dr. Syed Arif Hussain- CEO
Muhammad Rashid – CFO
Khawaja Baleegh – Head of Operation
Member
Member
Member
Member
Member & Secretary
Claims Settlement Committee
Mr. Tariq Ikram
Ms. Rafat Sultana
Dr. Syed Arif Hussain- CEO
Mr. Rana Javed – Head of Claims
Member
Member
Member
Member & Secretary
Risk management, Compliance, and IT Steering Committee
Mr. Tariq Ikram
Dr. Lubna Ayub
Dr. Syed Arif Hussain- CEO
Mr. Liaqut Ali Qamar – Head of IT
Mr. Umair – Head of Compliance
Member
Member
Member
Member
Member & Secretary
MANAGEMENT
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 & IT
Mr. Umair Sattar Abro Head of Compliance & Risk Management
Mr. Muhammad Shahbaz Chief Internal Auditor (Acting)
Window Takaful Operations (WTOs)
Mr. Muhamad Nadir Head Of Takaful
MARKETING TEAM
Mr. Mohammad Reyaz Ahmed Branch Head, Main Branch – Karachi
Mr. Muhammad Abbas Branch Head – Karachi South Division
Mr. Azmat Ullah Sheikh Branch Head, Central Branch – Karachi
Mr. Salman Khan Branch Head, State Life Square Branch – Karachi
Mr. Ali Asghar Vakil Branch Head Corporate Branch – Karachi
Mr. Abdul Qadus Mirza Branch Head, Karachi Eastern Branch
Mr. Najam Ul Hassan Branch Head, Bank Square Branch – Lahore
Mr. Babar Shahzad Branch Head – Multan
Mr. Abdul Sattar Javed Branch Head – Faisalabad
Mr. Syed Amir Raza Branch Head – Islamabad
Mr. Javed Iqbal Chauhdhry Branch Head – Rawalpindi
AUDITORS
M/s Grant Thornton Anjum Rahman & Chartered Accountants
LEGAL ADVISOR
M/s Sajids Law Associates
TAX CONSULTANT
M/s. EY Ford Rhodes, Chartered Accountants
BANKERS
United Bank Limited
Allied Bank Limited
JS Bank Limited
MCB Limited
National Bank of Pakistan
Soneri Bank Limited
Meezan Bank Limited
RE-INSURERS
M/s. Ocean International Reinsurance Company
M/s. Pakistan Re-Insurance Company Limited
M/s. Labuan Reinsurance (L) Ltd
M/s. Saudi Reinsurance Company