Askari Life Assurance
During last quarter of 2017, majority shareholding and management control of the East West Life Assurance Company Limited has been acquired by Army Welfare Trust (AWT) and rebranded as Askari Life Assurance Company ltd.
Askari Life Assurance Company Limited (Formerly East West Life Assurance Company Limited) was established in the year 1992 under the name of The Metropolitan Life Assurance Company of Pakistan Limited after the Federal Government’s decision to allow privately owned life insurance companies to operate in the country. This was done to enable more and more Pakistani families to benefit from the protection and savings value of life insurance.
Currently the authorized capital of our company is Rs. 750 million, out of which Rs. 601.720 million is paid-up. The management is planning to enhance the level of paid-up capital up to Rs. 1 billion during this year. Large paid-up capital base allows us to better position ourselves to provide top-notch benefit and services to our individual and corporate clients.
Askari Life Assurance Company Limited are Providing range of services.
In 2018 and beyond, the management of our company will focus on expansion of business distribution and servicing strategy to deliver due shareholder value. In view of such goals, the company’s management has taken important steps in order to keep the organization ahead within the competitive business environment being faced in the marketplace.
It should also be noted that we are a member of the Insurance Association of Pakistan (IAP) and our share is publicly traded at the Pakistan Stock Exchange (PSX). The company has various re-insurance arrangements with the world’s leading reinsurers. The risk assumed by the company is reinsured with these financially sound reinsurers of international repute. Furthermore, all of our reinsurers are in the AA rating category indicating "very strong" capability to meet their financial commitments and comfortably fall within the secure range.