Askari Life Assurance Co. Ltd.
PPSX:ALAC23.04
PKR
-1.02
(-4.24%)
ISIN
PK0066501013
Return %
Stock
S&P 500
1Y
78.60
14.20
3Y
370.20
81.12
5Y
189.45
68.34
Capital Structure
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in mil. unless spec.Working Capital
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in mil. unless spec.Growth Rates
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in mil. unless spec.Quarterly Revenue
FRC
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
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in mil. unless spec.Company Description
- Sector
- Finance
- Industry
- Life/Health insurance
- Address
- Karachi Pakistan
- IPO Date
- Sep 7, 1994
- Website
- askarilife.com
- Similar Companies
- Business
- Askari Life Assurance Company Limited is a Pakistan-based financial services company primarily engaged in providing life insurance, family takaful, and personal wealth management solutions. The company operates through four core business segments: Individual Life Insurance, Window Takaful Operations, Group Life and Health, and Investment and Pension Solutions. Its product portfolio includes universal life and unit-linked investment policies, such as the Askari Nayab, Askari Sarmaya, and Askari Ba-Ikhtiar plans; child education and marriage protection plans, including Askari Taleem; retirement and savings solutions, such as Askari Mustaqbil; individual term and protection products, including Askari Muhafiz; and shariah-compliant Islamic insurance products offered through its Window Takaful operations, encompassing individual family takaful, group family takaful, and credit takaful schemes. In addition, the company provides comprehensive corporate employee benefit programs, including group term life, group accidental death and disability, credit life, and group hospitalization and medical coverage, supplemented by riders covering critical illness, waiver of premium, and accidental medical expenses. Askari Life distributes its offerings through a nationwide branch network, a dedicated direct agency sales force, and extensive bancassurance and microfinance partnerships with commercial banks and microfinance institutions across Pakistan. Originally incorporated in 1992 as East West Life Assurance Company Limited, the company was acquired by the Army Welfare Trust in 2017 and subsequently renamed Askari Life Assurance Company Limited. The company is headquartered in Karachi, Pakistan, and maintains regional hubs across major metropolitan centers. In recent developments, Askari Life has accelerated the expansion of its Window Takaful business and digitized its underwriting operations through self-service web portals and automated policy issuance systems. The company has also broadened its distribution reach by entering strategic bancassurance and micro-takaful distribution alliances with leading financial institutions and microfinance banks, alongside capital restructuring initiatives aimed at bolstering its solvency margins and funding technological infrastructure investments.