In the Name of Allah,

the Beneficent, the Merciful.

Askari General Insurance Co. Ltd
(AGICO)
PRESENTED TO:
PROF. RIAZ AHMED MIAN

PRESENTED BY:
ABDUL MAALIK
(MI06MBA015)
KHURRUM FAROOQ
Hailey College of Banking & Finance
(MI06MBA006)
University of the Punjab, Lahore.
 Introduction of AGICO

• Established in October 1995

• Sponsored by (AWT), (ACBL) and
(ALL)
• Public limited company
• Listed on all three stock exchanges
• Provides general insurance products and
services to all sectors of the market
 AWT: A Backbone of AGICO
Army Welfare Trust (AWT) enjoys a unique and
proud history. It has established a reputation
as a leader in the corporate sector. Our story is
that of perseverance, innovation, business
acumen and going beyond the frontiers in
agriculture, cement, pharmaceuticals, leasing,
insurance, banking, energy, information
technology and many other diverse fields.
 MILESTONES IN THE
HISTORY OF AWT
• 1984: Askari Sugar Mills was established in district
Badin, province Sindh in 1984.
• 1990: Askari Woolen Mills started its operations in
March 1990.
• 1990: Askari Shoe project was established in May
1990.
• 1990: Askari Real Estate unit was established in 1990.
• 1992: Askari Bank Ltd. commenced its operations in
April 1992.
• 1993: Askari Leasing Ltd. was established in
September, 1993.
• 1995: Askari Aviation Pvt. Ltd. was established in
July 1995 .
• 1995: Askari General Insurance Company Ltd. was
established in October 1995.
 MILESTONES IN THE
HISTORY OF AWT
• 1996: Askari Guards Pvt. Ltd. was raised in May
1996.
• 1996: AWT acquired two Cement Plants at Wah
and Nizampur in 1996.
• 1996: Askari Pharmaceuticals was found in 1996.

• 1996: Mobil Askari Lubricants Ltd. started

operations in December 1996.
• 1997: Askari College for Entrepreneurs was
established in July 1997 at Rawalpindi.
• 1998: Askari Information Systems Ltd. was
established in 1998.
• 2002: Askari Compressed Natural Gas Project
was launched in 2002.
 Highlights of AGICO
• Reputable place amongst top players
• Financial strength and rapid growth
through retaining and reinvesting profits
• Financial position provides security to
the clients and ensures progressive
return to the stakeholders.
 Vision
The Vision of ASKARI general insurance
company is to be amongst the leading
insurance companies of the country with the
clear perception of upholding the principles
of corporate governance and making AGICO
a profitable and growth oriented insurance
company while creating insurance awareness
and culture.
 Mission
The Mission of AGICO is to become a
leading company by providing client
friendly services through highly
motivated team of dedicated
professionals and ensuring
progressive return to the
stakeholders.
CORPORATE PROFILE
 Chairman
Lt. Gen. (Retd) Zarrar Azim
 Directors
• Brig. (Retd) Mohammad Shiraz Baig
• Brig. (Retd) Javed Qayum
• Brig. (Retd) Muhammad Bashir Baz
• Brig (Retd).Mushtaq Ahmed Malik
• Syed Suhail Ahmed Rizvi
 Auditors
KPMG Taseer Hadi & Co.
Chartered Accountants
 Legal Advisor
Mr. Farrukh Karim Qureshi
 Bankers
• Askari Commercial Bank Limited
• National Bank of Pakistan
• Habib Bank
• Standard Chartered Bank
Registrar and Share Transfer Office

• THK Associates (Private) Limited,

Ground Floor, State Life Building-3
Dr.Ziauddin Ahmed Road, Karachi
• Tel: 111-000-322
• Fax: 021 - 5655595
 Registered Office/Head Office
• 4th Floor, AWT Plaza, The Mall,
Rawalpindi, Pakistan
• Tel: 051 - 9272425 - 7
• Fax: 051 – 9272424
• Web Site: www.agico.com.pk
• e-mail : agicoho@agico.com.pk
Management hierarchy
PRODUCTS & SERVICES OF AGICO

Motor
Motor
Insurance
Insurance
Health
Health Fire
Fire
Insurance
Insurance Insurance
Insurance

Products
Products
Offered
Offered
Miscellaneous
Miscellaneous Engineering
Engineering
Insurance
Insurance Insurance
Insurance

Marine
Marine Travel
Travel
Insurance
Insurance Insurance
Insurance
 NON- LIFE INSURANCE
PRODUCTS
• Fire Insurance
• Motor Insurance
• Marine Insurance
• Askari Travel
• Property Insurance
• Liability Insurance
• Miscellaneous Insurance
 FIRE INSURANCE
AGICO provides wide cover against fire and allied
perils, whether it is industrial complex, retail
outlets, hospitals, hotels, theatres, cinema
houses, residential apartments and bungalows
 Fire & Lightning
• Covers accidental
fire and explosion
 Riot & Strike Damage
Covers loss or damage to property by rioters
and strikers
 Malicious Damage
Covers loss or damage to property done
with malicious intentions
 Terrorism
• Covers loss or damage to property by any
individual or group engaged in a terrorist activity
 Earthquake
• Covers loss or
damage to
property by an
earthquake
 Storm & Flood
• Covers loss or damage to property by
Storm, Tornado, Typhoon and/or flood
 Aircraft Damage
• Covers loss or damage to property by any object
falling from an aircraft
 Business Interruption
Covers business interruption due to any of
the above perils
 MARINE INSURANCE
• MARINE CARGO
• MARINE HULL
 Marine Cargo
In Marine Cargo Insurance, coverage is
provided for goods in transit for both
Import and Export and the mode of
conveyances on waterways, air and land
routes.
 Marine Hull
In marine hull insurance the body of the
ship is covered
 MOTOR INSURANCE
• Private and Commercial Vehicle Comprehensive
Insurance
• Private and Commercial Vehicle Third Party Motor
Vehicle Insurance
• Private and Commercial Vehicle Act only Liability
Insurance
• Family Accidental Benefit Cover
• Accidental Death Cover for Salaried Driver
• Protection of Loan Amount for Financial Institutions
• Personal Accident Benefit Cover for Passengers
• 20% Discount in Premium on Installation of Trackers
Device
• Commercial Vehicle Policy
 BOND INSURANCE
• AGICO issue Bonds to contractors and clients
for Bids, Performance, Retention money and
custom guarantees.
• A bond is not a policy of insurance but is in fact
a form of financial guarantee. It is a guarantee
by one party to another party that a third party
(company requiring the bond) will meet its
contractual obligations
ENGINEERING INSURANCE
• Contractors All Risks
• Erection All Risk
• Contractors Plant & Equipments
• Machinery Breakdown
• Boiler Pressure Vessel
• Computers & Electrical Equipment
 LIABILITY INSURANCE
• Premises Liability
• Product Liability
• Workmen Compensation
• Professional Indemnity
• Directors & Officers Liability
• Public Liability Insurance
• Product Liability Insurance
• Employer's Liability Insurance
• General Professional Indemnity
 TRAVEL INSURANCE
• Medical claims paid anywhere in the
world…directly to hospitals through the
world’s No. 1 rated assistance company
• MAPFRE ASSISTANCE
• designed for all residents of Pakistan
proceeding abroad for business or pleasure
or visiting holy places around world
• MAPFRE ASSISTANCIA guarantees our
customers a problem-free trip very time
regardless of the nature of the trip
 HEALTH INSURANCE
• Health Insurance program is being
introduced in the market as a totally
separate product askari health, making it
a specialized and pride bearing product.
• Askari health is being administered as a
separate "Division" of agico. It is
managed & run by highly qualified
people relevant to this field.
 Health Benefits
• O.P.D TREATMENT BENEFITS (PER
FAMILY ANNUAL)
• HOSPITAL EXPENSES BENEFIT
• MATERNITY BENEFITS
• SPECIALIZED INVESTIGATION PER
FAMILY ANNUAL
• DREAD DISEASES
 MISCELLANEOUS INSURANCE

• Cash Insurance
• Fidelity Guarantee Insurance
• Householder’s Comprehensive
• Neon Sign
• Plate Glass
 CLAIMS PROCESS
• Intimation of loss
• Checking of policy document
• Appointment of the surveyor or loss
adjuster
• Claims negotiation
• Claims settlement
 RISK MANGEMENT & AGICO
• It is AGICO's aim to offer its clients
comprehensive support in questions of risk
management affecting any sector
• In any event, by offering specific suggestions on
the subject of risk control, we aim to reduce
exposures to possible losses.
• These highly individual services exceed the
scope of what we normally offer our clients and
therefore cannot be provided free of charge.
However, at AGICO we charge you nothing.
 RISK MANGEMENT & AGICO
• Depending upon the request, we hold
specific risk management seminars for our
business partners. After an introduction to
the theory of risk management, the
practical side is demonstrated by means of
a case study. The participants then have a
chance to make risk management decisions
and to analyze these in the course of
workshops.
 FINANCIAL HIGHLIGHTS
December 31, 2003 2004 2005 2006 2007
Profit Before Tax 22.41 40.91 60.45 84.51 69.99
Profit After Tax 15.91 26.91 45.02 57.09 51.73
Investment & other Income 25.8 23.71 33.18 35.79 59.67

Underwriting Income 27.54 48.55 69.38 108.81 79.8

Gross premium 383.6 513.34 590.57 717.45 829.1
Net premium revenue 221.83 325.31 432.39 507.24 583.32
Net claims 145.36 205.61 276.1 300.06 378.58
Paid up Capital 81.75 102.18 102.18 120.58 156.75
General Reserve 15 15 22.5 50 65
Underwriting Reserve 174 238.57 273.54 310.47 353.18
Investment 147 251.82 329.07 380.12 423.23
Tangible Fixed Asset 23.65 27.67 43.99 71.16 103.97
Retained Profit 4.59 31.5 51.14 62.33 62.89
Total assets 423.77 641.24 732.49 882.8 1117.59
Dividend 15%(C) 17.5%(C) 18%(B) 30%(B) 30%(B)
 GROWTH TRENDS
December 31, 2003 2004 2005 2006 2007
Profit Before Tax 14.81 82.55 47.76 39.80 -17.18
Profit After Tax 25.37 69.14 67.30 26.81 -9.39
Investment & other Incomes -3.48 -8.10 39.94 7.87 66.72

Underwriting Income 97.14 76.29 42.90 56.83 -26.66

Gross Premium 40.55 33.82 15.04 21.48 15.56
Net Premium 42.21 46.65 32.92 17.31 15.00
Net Claims 29.43 41.45 34.28 8.68 26.17
Paid up Capital 0.00 24.99 0.00 18.01 30.00
General Reserve 25.00 0.00 50.00 122.22 30.00
Underwriting Reserve 28.33 37.11 14.66 13.50 13.76
Investment 1.67 71.31 30.68 15.51 11.34
Tangible Fixed Asset 23.18 17.00 58.98 61.76 46.11
Retained Profit 16.50 586.27 62.35 21.88 0.90
Total assets 40.77 51.32 14.23 20.52 26.60
 AGICO & COMPETITORS
Sr. Name Of Companies Gross Gross Net Earned Growth Net % of
N Premiu Premium Premium Claim Net Premium
o m 2005
2006

1 EFU General Insurance Ltd. 8,459 6,644 5,418 64% 4,132 76%

2 Adamjee Insurance Company 7,912 6,682 5,280 67% 3,355 64%

3 New Jubilee Insurance 2,572 1,737 1,486 58% 888 60%

4 New Hampshire Insurance Co 1,093 1,056 814 74% 387 48%

5 International General Insurance 900 632 426 47% 187 44%

6 Askari General Insurance Co 717 591 507 71% 300 59%

7 Shaheen Insurance Company 671 671 565 84% 353 62%

8 Atlas Insurance Company 669 524 349 52% 133 38%

9 The Premier Insurance Co 630 631 389 62% 216 56%

10 The Universal Insurance Co 568 514 391 69% 203 52%

S. No Name Of Companies U/W % to Net U/W % to
Expenses Premium Result Net Premium

1 EFU General Insurance Ltd. 1,098 20% 188 3%

2 Adamjee Insurance Company 1,443 27% 482 9%

3 New Jubilee Insurance 499 34% 100 7%

4 New Hampshire Insurance Co 119 15% 307 38%

5 International General Insurance 29 7% 227 53%

6 Askari General Insurance Co 99 20% 108 21%

7 Shaheen Insurance Company 144 26% 68 12%

8 Atlas Insurance Company 61 17% 155 44%

9 The Premier Insurance Co 124 32% 49 13%

10 The Universal Insurance Co 137 35% 37 9%

S. No Name Of Companies Invest. % to Pre-Tax % to Growth Rating
Income Net Prem. Profit Net % JVR-VIS /
Premium PACRA

1 EFU General Insurance Ltd. 696 13% 858 16% 27% AA

2 Adamjee Insurance Company 1,515 29% 1,685 32% 18% AA

3 New Jubilee Insurance 690 46% 937 63% 48% AA

4 New Hampshire Insurance Co 77 9% 314 39% 4% -

5 International General Insurance 7,316 1715% 7,357 1725% 42% AA

6 Askari General Insurance Co 28 6% 85 17% 21% -

7 Shaheen Insurance Company 29 5% 59 10% 0% -

8 Atlas Insurance Company 211 60% 359 103% 28% A+

9 The Premier Insurance Co 798 205% 720 185% 0% A

10 The Universal Insurance Co 7 2% 41 10% 10% BBB+

SWOT Analysis
 Weaknesses
• Centralization
• fewer number of branches.
• Less marketing.
• No online selling
• No corporate philosophy
• No segmentation of market.
• Limited area covered (only major cities
are insured)
 Strengths
• Strong financial position.
• Higher profitability (in short span of time).
• Product innovations ongoing.
• Having latest IT software relating to the
insurance
• Management is committed and confident.
• Training facilities to employees.
 Opportunities
• More branches all over the Pakistan.
• Introducing more products
• Max long-term shareholder values.
• Improve operating performance.
• Hire insurance experts
• Explore unidentified market segments
• crop insurance
• insurance through internet.
 Threats
• Economic fluctuations
• Cut-throat competition
• Political instability
• Mounting terrorism
• Low per capita income
• Aggressive marketing by competitors
 Recommendations
• Increase number of branches
• Further emphasis on retail products
• Build credibility
• Responsive strategies
• Hire competent employees
• On job employee training
• Create a sense of belonging
 Conclusion
• Optimistic about the long-term opportunities
while at the same time meeting the short-term
challenges
• Responded to the challenges by enhancing
customer focus
• Pakistani market is full of potential for all
insurance providers and AGICO is one that
possesses such potential and abilities to avail all
opportunities provided by the market
THANX FOR
ATTENTIVE
LISTENING
QUERRY ? ? ? ? ?