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 808 734 801 796 839 912
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
Corporate Setup
BOARD OF DIRECTORS
Mr. Tariq Ikram
Mr. Abdul Shakoor Shaikh
Mr. Faisal Mumtaz
Mr. Muhammad Amjad
Mr. Syed Shahnawaz Nadir
Mr. Faisal Haroon Zai
Dr. Ghazala Nafees
Chief Executive Officer
Dr. Syed Arif Hussain
CHIEF FINANCIAL OFFICER / COMPANY SECRETARY
Mr. Muhammad Irfan
Board Committees
Audit Committee
Dr. Ghazala Nafees Chairperson
Mr. Faisal Mumtaz Member
Head of Internal Audit Secretary
Mr. Muhammad Amjad Member
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. Tariq Ikram Member
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. Muhammad Irfan CFO, Company Secretary
Mr. Khwaja Balighuddin GM / Head of Operations
Mr. Liaquat Ali Qamar Head of HR & Administration, Law & IT
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. Ali Asghar Vakil Branch Head Corporate 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
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
Chairman/Director
Director
Director
Director
Director
Director
Director