Corporate Briefing Session 2023

Tuesday, September 19, 2023 at 11:00 AM

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Table of Contents

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Company Overview

 Askari Life Assurance Co. Ltd, is part of one of the leading conglomerates in Pakistan, Army Welfare Trust (AWT).

 AWT acquired the major shareholding of Askari Life in 2018 from East West Insurance Limited. AWT currently holds 66.65% of the shareholding.

 Currently the authorized capital of Askari Life is Rs. 3 billion, out of which Rs. 1.51 billion is paid-up

 We offer diversified product range including conventional and takaful products; savings and protection plan

 Distribution channels include Sales Force, Bancassurance and Group marketing

 Insurer Financial Strength rating of A (Outlook: Stable) by PACRA

 Askari Life is reinsured by leading Reinsurers in the market (Munich Re and

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Hannover Re)

Strategic and Operational Development

Strategic and Operational Development

2017

AWT acquired major shareholding from East West Insurance

2018

Change of Name from East West Life to Askari Life Assurance Co. Ltd.

Injection of Rs.500 million through Right Issue

Restructuring of Management and Sales Force

2019

Branches restructuring and renovations

Introduction of new Universal Life Product and Bancassurance Agreement with Askari Bank Limited Approval and Start of Window Takaful Operations

2020

Bancassurance Agreement with Silk Bank Limited

Offer Right Shares for Rs.400 million

2021

Bancassurance Agreement with Albaraka Bank

Expansion of distribution network

2022

Milestone of 1 Billion Gross Premium achieved

Increase authorized share capital

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Askari Life Assurance Company Ltd. published this content on 11 September 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 11 September 2023 10:40:05 UTC.