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:
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                 784               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

Corporate Setup

BOARD OF DIRECTORS

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

Chief Executive Officer

Dr. Syed Arif Hussain

CHIEF FINANCIAL OFFICER / COMPANY SECRETARY

Mr. Faraz Ahmed 

Board Committees

Audit Committee

Dr. Ghazala Nafees                                              Chairperson
Mr. Faisal Mumtaz                                                Member
Mr. Muhammad Amjad                                       Member
Head of Internal Audit                                         Secretary

Ethics, Human Resource, Remuneration, Nomination and Procurement Committee.

Mr. Abdul Shakoor Shaikh                                  Chairman
Mr. Tariq Ikram                                                     Member
Dr. Ghazala Nafees                                              Member
Mr. Faisal Haroon Zai                                          Member
Chief Executive Officer                                        Member
Head of HR                                                            Secretary

Investment Committee

Mr. Syed Shahnawaz Nadir                                Chairman
Mr. Faisal Haroon Zai                                          Member
Chief Executive Officer                                        Member
Chief Financial Officer                                         Member/ Secretary

Management Committees

Underwriting, Re-Insurance and Co-Insurance Committee

Mr. Faisal Haroon Zai                                          Chairman
Mr. Syed Shahnawaz Nadir                                Member
Chief Executive Officer                                       Member
Chief Financial Officer                                        Member
Head of Operation                                              Secretary

Claims Settlement Committee

Mr. Muhammad Amjad                                      Chairman
Mr. Abdul Shakoor Shaikh                                 Member
Dr. Ghazala Nafees                                             Member
Chief Executive Officer                                       Member
Head of Claim                                                      Secretary

Risk Management , Compliance and IT Steering Committee

Mr. Faisal Mumtaz                                                 Chairman
Mr. Tariq Ikram                                                       Member
Dr. Ghazala Nafees                                                Member
Chief Executive Officer                                          Member
Chief Financial Officer                                           Member
Head of Risk Management                                   Member
Head of Compliance                                              Member/Secretary

MANAGEMENT

Dr. Syed Arif Hussain                                            Chief Executive Officer
Mr. Faraz Ahmed                                                   CFO, Company Secretary & IT Head
Mr. Khwaja Balighuddin                                       GM / Head of Operations
Mr. Liaquat Ali Qamar                                          Head of HR & Administration & Legal
Mr. Umair Sattar Abro                                          Head of Compliance & Risk Management
Mr. Muhammad Shahbaz                                    Chief Internal Auditor (Acting)
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. 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

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