Jubilee Insurance is a brand used by Pakistani general and life insurance companies headquartered in Karachi. The two companies are subsidiaries of Swiss for-profit organization Aga Khan Fund for Economic Development.[1] As of 2024[update], Jubilee Life PSX: JLICL was the largest private-sector insurance company in Pakistan.[2] It is also the most awarded insurance company in Pakistan.
 | |
_(cropped).jpg) Headquarters of Jubilee Insurance on I.I. Chundrigar Road in Karachi | |
| Company type | Public |
|---|---|
| PSX: JGICL PSX: JLICL | |
| Industry | Insurance |
| Founded | 1953 |
| Headquarters | Karachi, Pakistan |
Number of locations | 224 (2022) |
| Website | jubileegeneral jubileelife |
History
editJubilee Insurance was incorporated as New Jubilee Insurance Company Limited by the Fancy family in May 1953.[3] In 1955, it was listed on the Karachi Stock Exchange. The life insurance business was nationalised in 1972 and later Fancy family sold it to the Hashwani family.[3]
In 2002, the Aga Khan Fund for Economic Development acquired the Pakistani operations of CGU International Insurance plc.[4] CGU International Insurance founded life insurance business in Pakistan in 1995.[5][6]
In 2011, New Jubilee Insurance was renamed as Jubilee Insurance.[5]
In 2015, Jubilee entered the Takaful insurance market in Pakistan.[7][6]
On July 29, 2020, Jubilee was awarded the Effie Award in the insurance category.[8]
See also
editReferences
edit- ^ "Profits of life insurance companies rise 28.5%". The Express Tribune. July 23, 2016.
- ^ "Insurance premium: 'Proposed tax will hurt insurance sector'". The Express Tribune. June 16, 2016.
- ^ a b "Insurance: NEW JUBILEE INSURANCE COMPANY LIMITED - Year Ended December 31 2005". Brecorder. May 3, 2006.
- ^ "AKFED to acquire CGU shareholding". DAWN. 2002-09-18. Retrieved 2021-06-21.
- ^ a b Habib, Zoha; D’Souza, Vanessa (August 28, 2018). "A matter of life and death". Aurora Magazine.
- ^ a b Hussain, Dilawar (October 10, 2016). "Private life insurance companies end SLIC dominance". DAWN.
- ^ "Pakistan's Islamic insurance industry landscape set for makeover". The Express Tribune. September 6, 2015.
- ^ Report, Recorder (2020-07-30). "Jubilee Life wins Effie Award in Insurance Category". Brecorder. Retrieved 2020-07-30.
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