Summary
Jubilee Life Insurance Company, commonly known as Jubilee Life, (Urdu: جوبلی زندگی بیمہ) is a Pakistani life insurance company which is a subsidiary of Swiss for-profit organization Aga Khan Fund for Economic Development.[2] It is based in Karachi, Pakistan.
 | |
| Company type | Subsidiary |
|---|---|
| PSX: JLICL | |
| Industry | Insurance |
| Founded | 29 June 1995 |
| Headquarters | Karachi, Pakistan |
Number of locations | 224[1] (2022) |
Key people | |
| Revenue |  Rs. 50.3 billion (US$170 million)[1] (2022) |
 Rs. 3.3 billion (US$11 million)[1] (2022) | |
| Rs. 2.07 billion (US$7.2 million)[1] (2022) | |
| Total assets | Rs. 187.8 billion (US$650 million)[1] (2022) |
| Total equity | Rs. 13.9 billion (US$48 million)[1] (2022) |
Number of employees | 2,031[1] (2022) |
| Parent | Aga Khan Fund for Economic Development |
| Website | www |
It is the largest and the most profitable among private insurance companies in Pakistan.[3]
History edit
The company was founded in 1995 as Commercial Union Life Assurance Company and was later renamed as New Jubilee Life Insurance Company Limited.[4][5]
In 2002, the Aga Khan Fund for Economic Development acquired the shares from CGU International Insurance plc.[6]
In 2011, the company rebranded from New Jubilee Insurance to Jubilee Life Insurance.[4]
In 2015, Jubilee Life entered Takaful insurance market in Pakistan.[7][5]
On July 29, 2020, Jubilee Life was awarded the Effie Award in the Insurance Category.[8] This is the first time any insurance company has won the award in this category.[8][9]
References edit
- ^ a b c d e f g "Jubilee Life Insurance Annual Report 2022" (PDF). jubileelife.com. Retrieved 29 November 2023.
- ^ "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 D’Souza, Zoha Habib | Vanessa (August 28, 2018). "A matter of life and death". Aurora Magazine.
{{cite web}}: CS1 maint: multiple names: authors list (link) CS1 maint: numeric names: authors list (link) - ^ a b Hussain, Dilawar (October 10, 2016). "Private life insurance companies end SLIC dominance". DAWN.COM.
- ^ "AKFED to acquire CGU shareholding". DAWN.COM. 2002-09-18. Retrieved 2021-06-21.
- ^ "Pakistan's Islamic insurance industry landscape set for makeover". The Express Tribune. September 6, 2015.
- ^ a b admin (2020-07-29). "Jubilee Life wins prestigious Effie Award in the Insurance Category". News Update Times. Retrieved 2020-07-29.
- ^ Report, Recorder (2020-07-30). "Jubilee Life wins Effie Award in Insurance Category". Brecorder. Retrieved 2020-07-30.