Askari General Insurance Co. Ltd.
PPSX:AGIC36.60
PKR
-2.81
(-7.13%)
Askari General Insurance Co. Ltd.
PSX:AGIC
(Pakistan Stock Exchange)
Recent
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36.60
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ROIC.AI
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- Business
- Askari General Insurance Company Limited (PSX: AGIC) is a Pakistan-based non-life insurance company that provides a comprehensive range of conventional general insurance and Shariah-compliant Window Takaful solutions to corporate, commercial, small and medium-sized enterprise, and individual clients. Founded in 1995 and headquartered in Rawalpindi, Pakistan, the company operates as a key financial services subsidiary of the Army Welfare Trust, which maintains the majority ownership stake. The company operates through two primary divisions, Conventional General Insurance and Window Takaful Operations, organized across six core underwriting segments: Fire and Property Damage Insurance, covering commercial, industrial, and residential properties against fire, lightning, explosion, earthquake, atmospheric disturbance, riot, strike damage, malicious damage, and business interruption; Marine, Aviation and Transport Insurance, providing marine cargo coverage for imports, exports, and inland transit, marine hull and machinery cover, aviation hull and liability, and freight forwarder liabilities; Motor Insurance, offering comprehensive vehicle insurance, third-party liability, total loss and theft protection, own damage, fleet management coverage, and emergency roadside assistance for private and commercial vehicles; Health and Accident Insurance, delivering corporate group health insurance, hospitalization, major medical expenses, outpatient coverage, maternity benefits, individual health protection, personal accident, and critical illness plans; Engineering Insurance, encompassing contractor all risks, erection all risks, machinery breakdown, boiler and pressure vessel insurance, electronic equipment insurance, and civil engineering completed risks; and Miscellaneous Insurance, encompassing cash-in-safe, cash-in-transit, fidelity guarantee, public and product liability, employer liability, director and officer liability, professional indemnity, and domestic and international travel insurance under the Askari Travel Shield brand. The company operates an extensive nationwide branch network spanning key urban and commercial centers across Pakistan, including Karachi, Lahore, Islamabad, Rawalpindi, Faisalabad, Multan, Peshawar, and Quetta. In recent developments, Askari General Insurance Company Limited has expanded its distribution capabilities through new bancassurance and corporate affinity partnerships with leading domestic commercial banks, microfinance institutions, and digital aggregators to accelerate retail and microinsurance penetration. The company has also accelerated its digital transformation strategy by launching end-to-end digital policy issuance platforms, self-service customer web portals, and automated digital claims tracking workflows. Furthermore, the company has broadened its Window Takaful underwriting capacity to address growing domestic demand for Islamic risk-mitigation instruments, supported by strong capital adequacy, disciplined underwriting practices, high Insurer Financial Strength ratings from the Pakistan Credit Rating Agency, and robust reinsurance treaties with leading international and domestic reinsurance institutions.