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News

IGI Life Acquisition Complete10th April 2014

Disclosure to Stock Exchange by IGI10th April 2014

Disclosure to Stock Exchange by ALICO10th April 2014

United Bank Limited – Public Announcement of Offer to Acquire 90.986% Stake in American Life21st August 2013

MetLifeAlico participates in Patients Aid Foundation’s FundraiserAugust 2012

MetLife Alico Pakistan has participated in a Fundraiser organized by Patients’ Aid Foundation (PAF) on August 4, 2012. PAF is a non-political organization with a focused agenda of providing millions of impoverished in Pakistan with basic medical attention free of cost.

PAF has brought in the first ever CyberKnife to Pakistan with the aim to provide free treatment to the poor. CyberKnife is a whole body Stereotactic Radio Surgery robot which uses 1,200 pencil-thin beams to deliver radiation with sub-millimeter accuracy. It enables treatment of deep lesions which were previously considered to be too difficult to treat and can also ablate tumors while minimizing the damage to healthy tissue from radiation. There are around 240 CyberKnife installations in the world, which includes 2 centers in India and now this one in Pakistan will start functioning from September 2012.

The center is being established in Jinnah Postgraduate Medical Center, Karachi. This is the first facility in the World for philanthropic cause and funded entirely through donations from Corporates and Individuals. CyberKnife equipment costs around $3 million and so far $ 4.1m has been spent on this project globally by various supporters.

PACRA awards “AA” (Double A) rating to IGI Insurance Limited23rd November 2011

Karachi: November 23, 2011 : The Pakistan Credit Rating Agency PACRA has maintained the Insurer Financial Strength (IFS) rating of IGI Insurance Limited at “AA” (Double A).

IGI Insurance Limited, one of Pakistan’s leading insurer has been rated “AA” by PACRA for the 12th consecutive year. This rating denotes a very strong capacity to meet policyholder and contract obligations.

This ranking reflects IGI Insurance very strong risk absorption capacity emanating from a robust financial profile and stable underwriting performance. Meanwhile, a sizeable investment portfolio continues to fortify the company’s financial strength and profitability.

Mr. Jalees Siddiqi CEO of IGI Insurance acknowledged, “These ratings are a result of IGI Insurance’s continuous focus on world class customer services, good corporate governance and excellent management practices. The ratings are recognition of our efforts.”

IGI Insurance Receives ‘Certificate of Merit’ from SAFA15th November 2011

November 15, 2011 : IGI Insurance Limited, part of the IGI Financial Services Group, was conferred the ‘Certificate of Merit’ for the Best Presented Accounts Award 2010 in the category ‘Insurance Sector’ by the South Asian Federation of Accountants (SAFA).

The Award presentation ceremony will be held in Dhaka, Bangladesh. Awards under different categories were ascertained on the basis of evaluation by SAFA Committee for Improvement in Transparency, Accountability and Governance of the published annual reports of entries from South Asian Countries.

The ‘Certificate of Merit’ is an acknowledgement of the excellence and good governance of IGI Insurance at the regional level. While it’s a moment of pride for us, it raises our spirits even higher to continue to humbly strive for maximizing the value for every stakeholder.

About SAFA

South Asian Federation of Accountants (SAFA) was formed in the year 1984 to serve the accountancy profession in the South Asian Region and uphold its eminence in the world of accountancy. SAFA is an Apex Body of the South Asian Association for Regional Co-operation (SAARC) and a Regional Grouping of International Federation of Accountants (IFAC). SAFA represents over 170000 accountants having membership of the national chartered accountancy and cost and management accountancy institutions in the South Asian countries namely Bangladesh, India, Nepal, Pakistan and Sri Lanka. SAFA came into existence at the initiative of the accounting professional bodies in the South Asian Region, which has a bond of culture and homogeneity of professional environment.

IGI Insurance Receives Best Corporate Report Award 201011th November 2011

Karachi – November 11, 2011 : IGI Insurance Limited, part of the IGI Financial Services Group, was awarded the 4th position in the Best Corporate Report (BCR) Award 2010 in the Non Banking Financial Institutions Category, declared by Joint Committee of the Institute of Chartered Accountants of Pakistan (ICAP) and Institute of Cost & Management Accountants of Pakistan (ICMAP).

The Award ceremony was held at a local hotel, with Mr. A.N. Raman, President South Asian Federation of Accountants as the Chief Guest on the occasion.

This has been the 3rd consecutive year that IGI Insurance has been awarded this recognition. IGI has always believed in integrity and best practices as cornerstone for its business and it will continue to conduct its business with the same passion and zeal in future.

For the last 11 years, ICAP and ICMAP are jointly organizing the awards with an objective to encourage and give recognition to companies for showing excellence in their annual corporate reports. This award recognizes the best annual reports of companies in terms of corporate accountability and transparency through the publication of timely, informative, factual and reader friendly annual reports.

IGI Investment Bank launches Fund Select Portal KarachiJanuary 20, 2011

Karachi: January 20, 2011 - IGI Investment Bank Limited has introduced "Fund Select Portal". This is a unique web based portal facilitating both corporate and retail investors with on-line access to information concerning their investment and the industry. The announcement was made through a Press Conference in Karachi.

"It is my privilege and honor to introduce the Fund Select Portal. This web portal is just another milestone we have achieved in our attempt to be the best at what we do. Reducing the burden on our work force and increasing efficiency for our clientele is the aim of this portal, thus streamlining all aspects of real time access to financial information for our clientele," highlighted Mr. Syed Javed Hassan, Managing Director and Chief Executive of IGI Investment Bank Ltd.

The portal allows clients online access to details on their mutual fund investments as well as information related to the industry. The purpose behind providing this web based portal is to facilitate investors with an automated tool to reduce and eventually eliminate the need to call or seek Investment Advisory personnel for information regarding their investments. Multiple search parameters are available on the portal allowing the customers to search for information according to their requirements.

Mr. Asif Rashid Baloch, Head of Investment Advisory speaking at the occasion said, "This is the first time in Pakistan a web based portal has been developed to track the investment returns of Mutual Funds for customers on a real time basis. Customers will have access to investment information such as composition of existing portfolio, return on portfolio, account statement, investment history. industry specific information and much more on Fund select Portal. Going forward we believe the same application will provide the ease and confidence to a new generation of retail investors to venture out from the traditional investment avenues such as bank deposits & NSS to a wider investment universe, where all the investments are tracked on real time basis"

About IGI Investment Bank
IGI Investment Bank is a part of the IGI Financial Services Group, established in 1990 and is licensed to carry out investment financing and leasing activities under the Securities and Exchange Commission of Pakistan. PACRA has awarded it a long-term credit rating of 'A' and short-term rating of 'A1' which ensures a strong risk absorption capacity. For more information, please log on to www.igi.com.pk or call 0800-2-34-34

IGI Insurance Receives 27th Corporate Excellence Award27th November 2010

IGI Insurance Limited, a part of the IGI Financial Services, was conferred the 27th Corporate Excellence Award in the Financial category by the Management Association of Pakistan (MAP).

Amongst Pakistan’s leading insurers, IGI Insurance has maintained one of the highest Solvency Margins which proves the company’s ability to manage associated risks, along with its substantial risk absorption capacity.

After receiving the award from Dr. Ishrat Husain, Dean and Director, Institute of Business Administration (IBA), Mr. Jalees Siddiqi CEO of IGI Insurance stated, “This accomplishment was only possible due to the dedication, hard work, team effort, creativity and above all focus on customers by everyone within the organization. Our approach towards continuous improvement, raising the bar constantly & striving to be the best in class without compromising on our hallmark – ethics, will be maintained.”

Established in 1953, IGI Insurance underwrites all types of property and casualty insurance. IGI has become one of the leading providers of risk management services across the country and has been listed on the Karachi and Lahore Stock Exchanges since December 1987.

IGI Finex Securities Limited in association with Mobilink introduces STOCK PRO

IGI Finex Securities Limited in association with Mobilink introduces STOCK PRO a mobile trading platform which helps you to view stock profiles and enables you to buy and sell stocks simply through your mobile phone anywhere, anytime. With “STOCK PRO” you can get ready to take stock trading out of the office and into the coffee shops - wherever a mobile device provides access to the Internet. Investors / traders in Pakistan can now get fast access and direct control over their own trading.

“STOCK PRO” gives you the flexibility and availability to be in permanent contact with the markets even when on the move and be able to react and place transactions immediately without delay.

IGI Insurance provides Health Insurance to KCCI Employees20th February 2010

IGI Insurance Limited, a part of the IGI Financial Services, is now providing Health Insurance to Karachi Chamber of Commerce and Industry employees and their dependents.

After receiving the memento from Mr. Rasheeduddin Rashid, Acting President Karachi Chamber of Commerce and Industry, Mr. Jalees Ahmed Siddiqi CEO of IGI Insurance stated, “it is indeed an honor for us to have Karachi Chamber of Commerce and Industry on board with us. IGI Insurance provides customized services and tailor-made health insurance products backed by years of experience. Our financial strength along with our customer centric approach enables us to achieve our prime objective of fulfilling our customer’s needs efficiently”.

IGI Insurance has an ever expanding customer base of reputable companies including top national and multinational organizations. Over one hundred and twenty five hospitals all over Pakistan are associated with IGI Insurance ensuring wide coverage and ease of accessibility.

Amongst Pakistan’s leading insurance companies, IGI Insurance has been rated ‘AA’ by PACRA for the 9th consecutive year. This rating denotes a very strong capacity to meet policyholder and contract obligations.

IGI Insurance Receives ‘Merit Award’ from SAFA13th November 2009

Karachi – November 13, 2009 : IGI Insurance Limited, part of the IGI Financial Services Group, was awarded the ‘Merit award’ for the year 2008 in the category ‘Non –Banking Sector not subject to prudential supervision’ by the South Asian Federation of Accountants (SAFA).

The award was presented at a ceremony held in Dhaka, Bangladesh. Awards under different categories were conferred on the basis of evaluation by SAFA Committee for improvement in transparency, accountability and governance of the published annual reports of entries from South Asian Countries.

Muhammad Kashif Nisar, CFO IGI Insurance speaking at the occasion said, “Our commitment to following best practices in our business and a strong emphasis on governance has been complemented by this award. With a focus on continuous improvement, we strive to enhance the benefits provided to our stakeholders and customers. Previously IGI Insurance Limited has also been awarded with the Best Corporate Report Award and Corporate Excellence Award.

About IGI Insurance
Established in 1953, IGI Insurance underwrites all types of property and casualty insurance. With over 55 years of experience, IGI has become one of the leading providers of risk management services across the country and has been listed on the Karachi and Lahore Stock Exchanges since December 1987. Furthermore, IGI Insurance has maintained the “AA” Insurer Financial Strength Rating by PACRA for 9 consecutive years, denoting a very strong capacity to meet policy holders and contract obligations.

About SAFA
South Asian Federation of Accountants (SAFA) was formed in the year 1984 to serve the accountancy profession in the South Asian Region and uphold its eminence in the world of accountancy. SAFA is an Apex Body of the South Asian Association for Regional Co-operation (SAARC) and a Regional Grouping of International Federation of Accountants (IFAC). SAFA represents over 170000 accountants having membership of the national chartered accountancy and cost and management accountancy institutions in the South Asian countries namely Bangladesh, India, Nepal, Pakistan and Sri Lanka. SAFA came into existence at the initiative of the accounting professional bodies in the South Asian Region, which has a bond of culture and homogeneity of professional environment.

Vice President Overseas Private Investment Corporation (USA) visits Pakistan1st November 2009

IGI Insurance Limited, one of the leaders in general insurance in Pakistan has signed a Memorandum of Understanding (MoU) with the Overseas Private Investment Corporation(OPIC) U.S.A, working together to insure US investors in Pakistan against Political Risks.

IGI Insurance joins hands with the most experienced political risk insurer in the world, that has $ 4 billion in reserves and the backing of the US Government, with the confidence that this would not only improve and diversify its own line of business, but would reduce the risk of unfair interference, protect small and large investments, improve access to credit and also offer its clients flexible and affordable programs.

Mr. Rod Morris, Vice President of Insurance, OPIC during his visit to Pakistan said, ‘We aim at assisting small and large businesses in Pakistan, an emerging market where political risk insurance is missing on the private markets, it will accelerate Pakistan’s growth in all sectors paving a way to a better future. IGI Insurance is a channel through which this exclusive product will be offered and we are confident that it would facilitate improved investment and allow for improved insurance products in the future.

Mr. Jalees A. Siddiqi, CEO of IGI Insurance said, ‘Political Risk Insurance, particularly the coverage of Currency Inconvertibility and Expropriation, is a unique and specialized product that is going to be offered in Pakistan for the first time by a local concern and IGI Insurance is proud to be the company with that distinction. I feel that our strong relationship with OPIC and their patronage would immensely help the General Insurance Industry in Pakistan.’

During the visit Mr. Morris met a large number of business and government leaders in Lahore and Karachi where he discussed cooperation prospects with OPIC.

About OPIC

The Overseas Private Investment Corporation, OPIC, is an independent U.S. government agency that facilitates investment by U.S. organizations in emerging markets by providing financial and insurance related support. As a pioneer in Political Risk Insurance OPIC provides unparalleled expertise and has an unmatched reputation globally. Over its 38 year history it has supported projects in over 150 countries and it continues to work for the development and growth of free markets world wide.

IGI Investment Bank and Pak-Qatar Family Takaful Limited Sign MOUJuly 24, 2009

July 24, 2009 : IGI Investment Bank, a part of the IGI Financial Services recently signed a distribution agreement with Pak-Qatar Family Takaful Limited aiming to further strengthen its portfolio by adding Family (Life) Takaful Insurance to its insurance advisory services. According to this agreement, clients would be able to secure their own and their family’s future the Islamic way through a host of Shariah compliant Takaful- Islamic insurance products offered to the Bank. IGI Investment Bank would therefore successfully be able to cater to all those clients who are seeking a Halal alternative to conventional insurance.

The recently appointed CEO and Director of IGI Investment Bank, Syed Javed Hassan stated, “IGI Investment Bank aims at going that extra mile in providing its valued customers with not only the very best standards of conventional insurance products, but also with a comprehensive bouquet of Shari'ah compliant insurance products to create a greater synergy between the client’s need and the solution provided by us.”

Also present on the occasion, Mr. P. Ahmed, Director and CEO of Pak-Qatar Family Takaful Limited stated, “I commend the management of IGI Investment Bank for their bold initiative to provide Family (Life) Takaful coverage to their customers. They have certainly set a precedent for other Banks to follow. Clearly, we can no longer ignore the religious values of the people and this agreement between IGI Investment Bank and Pak-Qatar Family Takaful just shows how sincerely we respect these values.”

About IGI Investment Bank
IGI Investment Bank is a part of the IGI Financial Services Group, established in 1990 and is licensed to carry out investment financing and leasing activities under the Securities and Exchange Commission of Pakistan. PACRA has awarded it a long-term credit rating of ‘A’ and short-term rating of ‘A1’ which ensures a strong risk absorption capacity. For more information, please log on to www.igi.com.pk or call 0800-2-34-34

About Pak-Qatar Family Takaful Limited
Pak-Qatar Family Takaful Group, the pioneers of Family Takaful, is a technology-driven Shari’ah compliant company sponsored by some of the leading financial institutions from the State of Qatar. The company has a rating of ‘A-‘ (having stable outlook) from JCR-VIS Credit Co. Ltd. It has a network of 24 branches present in 14 cities and is quickly growing in its corporate and individual customer base. For more information, please log on to www.pakqatar.com.pk or call 111-TAKAFUL

Commodity trade picking pace, more than 600 contracts are traded dailyJuly 17, 2009

Karachi – July 17, 2009 : National Commodity Exchange Limited (NCEL) is seeing a steady growth in activity and more than 600 contracts worth rupees 150 Million are traded daily. This was revealed to a group of media personnel at a briefing session held at the IGI Securities head office.

The event was chaired by Azhar Ahmed Batla, CEO IGI Securities, Mr. Zulfiqar Hyder Khan, COO IGI Securities, Muhammad Khurram, Head of IGI Commodities and Mansoor Ali, Head of Business Development, NCEL. The speakers briefed a team of journalists about the growth in commodity trading with emphasis on prospects in the field. “Operational transparency, time elasticity and global accessibility marks profit potential in the field and NCEL will soon be launching crude oil trading and futures trading” said Mansoor.

Azhar Batla, CEO IGI Securities added, “IGI Commodities although a market leader in commodities trade with a 43% market share is striving for wider investor base as Pakistan being an agriculture based country, is most suited for commodity trading like its neighbors”.

There are 70 commodity exchanges around the world and NCEL as a platform makes access to these markets easier for Pakistani investors. The exchange also facilitates international research and expert opinion to its investors and comprises of more than 300 members.

About IGI Finex Securities :
IGI Finex Securities Limited is a full service brokerage house with state-of-the-art technologies. The firm was incorporated in 1994 and thereafter in 2006 was acquired by IGI Investment Bank Limited. With a history of over a decade of providing financial broking, IGI Finex Securities has emerged as a dominant player in Pakistan’s Security and Brokerage industry. Being a corporate member of both the Karachi and Lahore Stock Exchanges, the company offers its clients a full range of financial brokering services ranging from equity trading to fixed income investments, research support, Forex and commodity trading.

For further details call our toll-free number 0800-234-34 or email us at contact.center@igi.com.pk

IGI Insurance Receives Best Corporate Report Award 200915th June 2009

Karachi : IGI Insurance Limited, part of the IGI Financial Services Group, was awarded the Best Corporate Report (BCR) Award in the Non Banking Financial Institutions Category. Salim Raza, Governor State Bank of Pakistan presided the ceremony held at a local hotel in Karachi.

The award recognizes the best annual reports of companies in terms of accuracy, transparency, usefulness and speed of financial and other disclosures made for all stakeholders along with its presentation and ability to convey corporate objectives.

Jalees Siddiqi, CEO IGI Insurance when contacted said, “Stakeholders associate high quality annual reports as a fundamental to providing pertinent, concise and comprehensive information to understand the company’s operating and financial performance. This award recognizes that we are following good governance and management practices at IGI Insurance”.

The awards are adjudicated jointly by the Institute of Cost and Management Accountants of Pakistan (ICMAP) and Institute of Chartered Accountants of Pakistan (ICAP) and are regularly held since 2000.

IGI Insurance Receives 26th Corporate Excellence Award14th March 2009

IGI Insurance Limited, a part of the IGI Financial Services, was proclaimed the winner of the 26th Corporate Excellence Awards for the Financial as well as Management Practices Category by the Management Association of Pakistan (MAP).

Amongst Pakistan’s leading insurance companies, IGI Insurance has maintained one of the highest Solvency Margins which proves the company’s ability to manage associated risks, along with its substantial risk absorption capacity, provides significant cushioning to make inroads into relatively high risk areas.

IGI Insurance also maintains the “AA” Insurer Financial Strength Rating with a Stable Outlook by PACRA that denotes a very strong capacity to meet policy holders and contract obligations.

After receiving the two awards from Mr. Salim Raza, Governor of State Bank of Pakistan, Mr. Jalees Siddiqi CEO of IGI Insurance stated, “Strong, effective management practices enable organizations and companies to attain high standards of performance across regions, cultures and markets. At IGI Insurance we strive to bench mark with the best in class and embrace good management practices in our business with strong emphasis on governance. Receiving this award is an indication that we are headed towards the right direction.”

Established in 1953, IGI Insurance underwrites all types of property and casualty insurance. With over 55 years of experience, IGI has become one of the leading providers of risk management services across the country and has been listed on the Karachi and Lahore Stock Exchanges since December 1987.

IGI Investment Bank and NJI Life Sign AgreementMarch 6, 2009

March 6, 2009 (Friday) : IGI Investment Bank a part of the IGI Financial Services Group and New Jubilee Life Insurance Limited (NJI Life) marked the beginning of a long lasting relationship by signing an agreement at the IGI Financial Services head office.

According to the agreement, NJI Life will be joining hands with IGI Investment Bank to provide bancassurance whereby its customers will have the privilege of availing innovative and custom made life insurance products tailored by NJI Life.

Present at the ceremony, Mr. Javed Ahmed the Managing Director and CEO of NJI Life stated, “We are honored to provide our life insurance services and products to the customers of IGI Investment Bank, one of the country’s leading investment banks. Being the pioneers of bancassurance in Pakistan, we are confident that we will provide the highest level of services and guidance to our new bancassurance partners- IGI Investment Bank”

Also present at the ceremony, Mr. Samir Ahmed Managing Director and CEO of IGI Investment Bank said, “We have been striving to transform our bank to a one-stop financial service provider which offers solutions to a diverse range of financial requirements. Thus, by signing an agreement with NJI Life we are taking a positive step towards achieving this goal.”

About IGI Investment Bank:
IGI Investment Bank established in 1990 provides a host of specialized services which include finance, treasury management and mutual funds advisory has grown to become Pakistan’s largest investment bank with a paid up capital of PKR 2.1 Billion. It has also been awarded a long term credit rating of ‘A’ and ‘A1’ by the Pakistan Credit Rating Agency (PACRA). For more information, please log on to www.igi.com.pk or call 0800-2-34-34

About NJI Life:
New Jubilee Life Insurance Company Limited (NJI Life) is a subsidiary of the Aga Khan Fund for Economic Development (AKFED), Switzerland. It was incorporated in Pakistan on 29 June 1995 as a Public Limited Company under the Companies Ordinance 1984. Its shares are quoted on the Karachi Stock Exchange.

IGI Investment Bank Now Listed on the Islamabad Stock Exchange

IGI Investment Bank, a part of the IGI Financial Services after meeting all the necessary financial and regulatory requirements, is now effectively listed on the Islamabad Stock Exchange (ISE).

IGI Investment Bank is already listed on the Karachi and Lahore Stock exchanges and by gaining a place in the ISE, it will be one of the few banks that enjoy the privilege of being listed on all the major stock exchanges of the country.

In response to the listing, Mr. Samir Ahmed, Managing Director and CEO of IGI Investment Bank stated, “We were keen to maintain a presence in all stock markets in the region and by being listed on the ISE we have now opened the door for investors in Islamabad and other northern areas to trade directly in our shares. This will no doubt add depth and stability to trading on the market, especially in view of the increasing growth performance by IGI Investment Bank as the largest investment bank in Pakistan with a paid up capital of 2.1 Billion.“

In conclusion of his remarks, Mr. Samir Ahmed thanked the management and all officials of the Islamabad Stock Exchange for their cooperation and support to the Bank and expressed his confidence that such cooperation and support will continue further in the future for the benefit of all concerned.

About IGI Investment Bank
IGI Investment Bank is a part of the IGI Financial Services Group, established in 1990 and is licensed to carry out investment financing and leasing activities under the Securities and Exchange Commission of Pakistan. PACRA has awarded it a long-term credit rating of ‘A’ and short-term rating of ‘A1’ which ensures a strong risk absorption capacity. For more information, please log on to www.igi.com.pk or call 0800-2-34-34.

About the Islamabad Stock Exchange (Guarantee) Limited
The Islamabad Stock Exchange (ISE) was incorporated as a guarantee limited Company on 25th October, 1989 in Islamabad with the main object of setting up of a trading and settlement infrastructure, information system, skilled resources, accessibility and a fair and orderly market place that ranks with the best in the world. The purpose for establishment of the stock exchange in Islamabad was to cater to the needs of less developed areas of the northern part of Pakistan.

IGI Investment Bank and Pak Kuwait Takaful Sign Agreement April 13, 2009

April 13, 2009 : IGI Investment Bank, a part of the IGI Financial Services successfully signed a bancatakaful agreement with Pak Kuwait Takaful Company Limited (PKTCL) for its upcoming insurance advisory service. According to this agreement, clients would be able to secure their future without compromising on their faith as PKTCL would offer a host of Shariah complaint general Takaful- Islamic insurance products to the Bank. Thus IGI Investment Bank would successfully be able to cater to all those clients who are seeking an alternative to conventional insurance.

Present on the occasion, Mr. Samir Ahmed CEO and managing director of IGI Investment Bank stated, “IGI Investment Bank aims at going the extra mile in providing its valued customers with not only the very best standards of conventional insurance products, but also with a comprehensive bouquet of Shari'ah compliant insurance products to create a greater synergy between the client’s need and the solution provided by us.”

Also present on the occasion, Mr.Imtiaz Bhatti CEO of Pak Kuwait Takaful Company Limited stated, “The Takaful way of insurance in Pakistan is greatly needed and much awaited as a significant segment of the population desire Shariah-compliance in all their financial dealings. By providing our products to IGI Investment Bank, I am confident that we are getting closer to our aim of filling the gap and introducing Shariah compliant products for the benefit of all Muslims in Pakistan”

About IGI Investment Bank
IGI Investment Bank is a part of the IGI Financial Services Group, established in 1990 and is licensed to carry out investment financing and leasing activities under the Securities and Exchange Commission of Pakistan. PACRA has awarded it a long-term credit rating of ‘A’ and short-term rating of ‘A1’ which ensures a strong risk absorption capacity. For more information, please log on to www.igi.com.pk or call 0800-2-34-34

About Pak Kuwait Takaful Company Limited
Pak Kuwait Takaful Company Limited is a multinational joint venture partnership between Pakistan, Kuwait, Malaysia, Saudi Arabia and Sri Lanka. With an initial paid up capital of Rs. 250 million and an authorized capital of Rs. 500 million, along with the financial strength and backing of its equity partners, Pak Kuwait Takaful Limited is well-poised to launch Takaful operations in an environment of trust and reliability.

IGI Insurance receives KSE Top Companies Award14th March 2009

IGI Insurance Limited a part of the IGI Financial Services Group received Karachi Stock Exchange’s (KSE) prestigious Top Companies Award for the year 2006.

Conferred to twenty five companies, the awards are KSE’s means of recognizing the excellent performance of these companies on the basis of turn over of shares, distribution of dividend return on equities and other indices.

Amongst Pakistan’s leading insurance companies, IGI Insurance has maintained one of the highest Solvency Margins which proves the company’s ability to manage associated risks, along with its substantial risk absorption capacity, provides significant cushioning to make inroads into relatively high risk areas.

IGI Insurance also maintains the “AA” Insurer Financial Strength Rating with a Stable Outlook by PACRA that denotes a very strong capacity to meet policy holders and contract obligations.

After receiving the award from Mr. Shaukat Tarin, the country’s finance advisor, Mr. Jalees Ahmed Siddiqi CEO of IGI Insurance stated, “This award represents the relentless commitment and effort of the IGI Insurance team towards providing its customers and clients with peace of mind. Such rewards also strengthen our dedication to maintaining the highest standards of integrity and sound dealing in our relationships with all our stakeholders. “

Established in 1953, IGI Insurance underwrites all types of property and casualty insurance. With over 55 years of experience, IGI has become one of the leading providers of risk management services across the country and has been listed on the Karachi and Lahore Stock Exchanges since December 1987.

IGI Insurance Limited and PAMADA Sign Agreement23rd February 2009

IGI Insurance Limited, a part of the IGI Financial Services Group signed an agreement with Pakistan Automobile Manufacturers Authorized Dealers Association (PAMADA) with respect to its comprehensive automobile insurance “IGI Auto Cover”.

The agreement will effectively include, “IGI Auto Cover” in PAMADA’s exclusive panel of automobile insurance providers for prospective buyers.

In a statement after the signing ceremony Mr. Saulat Said, CEO of IGI Insurance said, “We are making major headway in the automobile insurance sector. Our aim is to introduce “IGI Auto Cover” to PAMADA association so that it becomes the preferred choice for individuals when they consider automobile insurance.”

Also present at the ceremony, Mr. PM Polad, Chairman of PAMADA stated, “I am honored to have IGI Insurance Limited on our panel of insurance providers. We hope this long term relationship proves beneficial not only for both the parties but more so for the population of automobile buyers throughout the country.”

An association formed in 2005, PAMADA serves the public interest and benefits franchise dealers such as Honda, Toyota, Mitsubishi and Suzuki and independent auto dealers by fostering high standards of business conduct. Its objectives also include presenting information to the public and to governmental agencies that will help auto dealers in our economy.

IGI Insurance has earned the ‘AA’ Insurer Financial Strength (IFS) rating with stable outlook by PACRA that denotes a very strong capacity to meet policy holders and contract obligations.

IGI Investment Bank and ALICO sign MoU

IGI Investment Bank, a part of the IGI Financial Services group signed a Memorandum of Understanding with American Life Insurance Company (Pakistan) Limited - ALICO to introduce insurance and savings products for its customers. The signing ceremony took place at the IGI Financial Services head office in the presence of senior executives representing both companies.

By signing the MoU, IGI Investment Bank customers will have the privilege of availing valuable insurance and savings products offered by ALICO, the market leader in international life insurance with assets in excess of US$100 billion and operations in 55 countries worldwide, through the bank’s advisory and distribution channel.

Speaking on the occasion, Mr Samir Ahmed, MD & CEO of IGI Investment Bank stated, “By joining hands with ALICO we aim to provide a complete range of financial services to our customers under one roof, and we are confident that this initiative will facilitate us in offering convenience and value-added services to our customers.”

Mr. Arif Sultan Mufti, Chairman & CEO of ALICO said, ‘In a country still relatively new to the concept of bancassurance, we aim to increase its potential in a market where exposure to financial markets is still on a rise. Going into an understanding with IGI Investment Bank, we hope to create a long term relationship with them, providing our expertise in the field of insurance, whilst aiming to cater to the masses through different channels’.

About IGI Investment Bank
IGI Investment Bank is a part of the IGI Financial Services Group, established in 1990 and is licensed to carry out investment financing and leasing activities under the Securities and Exchange Commission of Pakistan. PACRA has awarded it a long-term credit rating of ‘A’ and short-term rating of ‘A1’ which ensures a strong risk absorption capacity. For more information, please log on to www.igi.com.pk or call 0800-2-34-34

About ALICO
ALICO first started its operation in Pakistan in 1952 and continued till 1972 when the life insurance industry was nationalized. By 1972, ALICO had issued 72,000 policies and had invested more than US$36 million in the country’s economy. In 1994, ALICO was the first foreign life insurer to re-enter Pakistan. It commenced its operations in May 1995 with a paid-up capital of PKR 130 million which today stands at PKR 500 million. Along with commitment, ALICO brings to Pakistan an extensive international expertise and cutting edge technology being used by our operations in the most developed markets

IGI Insurance Holds the Travel Sure Rewards Prize Distribution Ceremony1st February 2009

In order to commemorate the effort of travel agents selling IGI Insurance’s travel insurance – Travel Sure – policies, a prize distribution ceremony was conducted in the three major cities of Pakistan.

The ceremony was a culmination of the Travel Sure Rewards scheme for travel agents across the nation which was held from mid September 2008 to mid Jan 2009. This five month long scheme entitled IGI Insurance’s partner travel agents and agencies to secure fabulous prizes and rewards by selling Travel Sure policies.

Conducted successfully in Lahore, Islamabad and Karachi on the 31st of March, 1st of April and 8th of April respectively, the distribution ceremonies were a fun-filled and lively affair in which travel agents received attractive rewards including mobile phones, DVD players, juicers, blenders and much more. The highlight of all three events was the lucky draw through which the top travel agent, selling the largest number of Travel Sure policies won a generator, and the agency with the highest gross premium, won a flat screen.

During the ceremony, IGI Insurance also unveiled their upcoming ‘IGI Rewards’, which would be another attractive incentive scheme for travel agents boosting the sales of IGI Travel Sure policies.

Present at the prize distribution ceremony Mr. Shahbaz Haider Agha General Manager of Sales and Marketing for IGI Insurance stated, “The success of IGI Insurance Travel Sure is greatly attributed to its sales. A majority of these sales are conducted by travel agents from different travel agencies. At IGI Insurance, we are cognizant of the hard work and contribution of our partner travel agents and agencies and our reward schemes are a means of recognizing their effort and enhancing their drive and motivation.”

IGI Insurance Annual Sales Conference 200925th January 2009

IGI Insurance held its Annual Sales Conference for 2009 at the Marriott Karachi from January 23rd to January 25th 2009. Sales teams from across the country shared their branch’s performance for 2008 and discussed their targets for the up coming year. At the conclusion of the conference, awards were presented for the following categories:

  • Best Performing Branch for 2008: Syed Maratib Ali Road Branch Lahore
  • Best Sales Person of the Year for 2008: Mr. Mohammad Amjad
  • Best Groomed Sales Person: Mr. Mohammad Haider Hashimi
  • Best Presentation: Faisalabad Branch
  • Best Presenter: Mr. Muhammad Ikram

A special award was also presented to Mr. Saulat Said for his commitment to excellence during his tenure as Chief Executive Officer of the company.

Congratulations to all the winners and best of luck to all the delegates for a successful 2009!

On this momentous occasion the participants and employees of IGI welcomed Mr. Jalees Ahmed Siddiqi who will be taking office from Mr. Saulat Said as CEO IGI Insurance.

IGI Financial Services proudly sponsors the 7thKaraFilm Festival - the Karachi International Film Festival 2009February 2009

True to its endeavor of promoting the arts, IGI Financial Services, proudly sponsored the 7th KaraFilm Festival - the Karachi International Film Festival 2009, from the 4th to 15th of February 2009 at the Arts Council Auditorium and Nishat Cinema.

The KaraFilm Society (organizers of the event) strives to promote creativity, arts and learning in Pakistan through their festival and they were successful in achieving the aforementioned goals this year as well much to the satisfaction of IGI.

The festival this year offered a chance for everyone to give an eye to the screen by showing films that catered to all, from your child’s favorite funny animated film Kung Fu Panda, Enchanted or Water Horse, to the famous Pakistani horror flick Zibahkhana that kept you at the edge of your seats during its thrilling scenes. If you weren’t in the childish mood or ready to scream your heart out, you could have visited one of the shows airing the famous Pakistani award winning blockbuster Khuda Kay Liye, a recent classic Revolutionary Road, opted for documentaries like Riding Solo to the Top of the World or just sat back and enjoyed one of the short stories like Lost Lovers or The Fantastic Life of Mr. Tripathi.

For more information and the schedules you can visit the following link:

www.karafilmfest.com/ http://www.igi.com.pk/assets/pdf/schedules.pdf

PACRA gives A and A1 rating to IGI Investment BankJanuary 17, 2009

Karachi: January 17, 2009 – The Pakistan Credit Rating Agency PACRA maintains A for long term and A1 for short term ratings for IGI Investment Bank one of the leading investment banks in Pakistan and part of IGI Financial Services Group. The rating is significant as it comes at a time when the overall industry outlook is projected negative due to turmoil in the money & capital markets and general slowing down of economic activity.

The primary function of PACRA is to evaluate the capacity and willingness of an entity to honor its obligations. The ratings are independent, professional and reflect the Bank’s strong relative positioning in the field emanating from the resilience exhibited by IGI Investment Bank during the current liquidity crisis. Furthermore, these ratings are recognition of IGI’s strong risk absorption capacity, good asset quality, sound equity base and quality risk management.

Mr. Samir Ahmed, CEO IGI Investment Bank, on this achievement stated, “These ratings are a result of IGI Investment Bank’s commitment to its stakeholders and excellent risk management practices adopted by the Bank. IGI has never compromised on the quality of assets and is committed to optimizing value for its shareholders. The ratings are recognition of our efforts and a source of confidence”.

The rating projects prospects of various investment banks operating in the country on a stand-alone basis and give due consideration to the macro economic challenges being faced by the entire economy that led to a difficult operating environment for the industry. IGI Investment Bank continues to be one of the most professional investment banks in Pakistan.

IGI Investment Bank is a part of the IGI Financial Services Group was established in 1990 and is licensed to carry out investment financing and leasing activities under the Securities and Exchange Commission of Pakistan. For more information please log on to www.igiinvestmentbank.com.pk or call 0800-2-34-34.

IGI Insurance sponsors ‘Vintage & Classic Car Show 200816th March 2008

Karachi : IGI Insurance Ltd. sponsored the annual Vintage & Classic Car Show at ‘The Forum’ on Sunday 16th March 2008.

In collaboration with ‘The Forum’ and Vintage & Classic Car Club of Pakistan(VCCCP), IGI Insurance sponsored a mega event for all car enthusiasts in Pakistan who enjoy restoring, collecting, driving and owning vintage and classic automobiles. The event featured over 70 exotic and classic cars such as the historical Rolls Royce Silver Cloud (1955), Lincoln Continental Cabriolet V12 (1947), Aston Martin DB6 (1968), Ford Mustang Convertible (1965) and the Jaguar ‘E-Type’ (1961) all owned and restored by VCCCP members. The Rolls Royce Silver Ghost from 1924 was the highlight of the day.

Storms of people rushed in from morning to late night to pay homage to the classic automobile collection, with over 15,000 people in attendance during the peak evening hours. The show was an ideal platform for car enthusiasts to gather and share their passion for vintage automobiles while enjoying food, music classics and time with friends and family. The collectors of these cars have devoted a lot of time, energy and resources to have these cars restored and IGI Insurance is proud to have contributed in making it all happen. IGI Insurance has been at the forefront in facilitating activities that bring out the talent and taste of our country forward.

IGI Insurance Ltd, a part of the IGI Financial Services Group, is one of the leading insurance companies in Pakistan and has been providing comprehensive risk management services since 1953. For more information, please log on to www.igiinsurance.com.pk or dial toll free at 0800-2-34-34.

The IGI Travel Sure Summer Festival9th November 2007

A ceremony was held to conclude the IGI Travel Sure Summer Festival at Holiday Inn, Lahore. The Travel Sure Summer Festival lasted 2 months from June 1, 2007 to July 31, 2007. The event was organized by IGI Insurance Limited in collaboration with Global E-Commerce (Pvt) Ltd. (GE-COMM), the assigned distributors for Travel Sure, in order to commend travel agents for outstanding sales performance of Travel Sure Insurance Policies.

The IGI Travel Sure Summer Festival included two lucky draws for the grand prizes; Philips Home theater for the single-trip policy for travel agents with outstanding sales performance and the Philips Flat Screen 21” Television for the multi-trip policy for agents selling a high number of policies during the 2 months. Other gift incentives included Leather Travel Bags, Cordless Phones, MP3 Players, Mobile Phones, DVD Players and Car Stereo.

The winners of the lucky draw were Travel Technique-Sialkot for the multi-trip policy and Marco Polo Travels-Lahore for the single-trip policy. The winners were announced by Mr. Mustafa Chinoy, Chairman GE-COMM.

On this occasion Mr. Chinoy expressed his appreciation for the activity held by IGI Insurance Limited hoping to see the event return and other similar activities to motivate travel agents.

Mr. Shahbaz Haider Agha, Head – Business Development of IGI Insurance Limited congratulated the travel agents on their performance by adding that he would like to see the Travel Agents continue to perform with the same zeal that they have shown in the last 2 years. IGI Insurance Ltd. a part of the Packages Group provides risk management services and a complete line of general insurance products since 1953. For more information, please log on to www.igiinsurance.com.pk or dial toll free at 0800-2-34-34.

IGI Insurance Holds Seminar on “Defensive Driving 1st September 2007

IGI Insurance (formerly International General Insurance Company of Pakistan Limited), one of the leading insurance companies of Pakistan, hosted a seminar on Defensive Driving at the Packages Ltd. Office in Lahore. The seminar was held to draw attention to the benefits of defensive driving; the right kind of attitude and behaviour needed for safer driving and hazard recognition skills. The discussion was focused on the importance of driving responsibly along with tips that could help save a life in emergency situations. An assessment exercise designed to evaluate the knowledge of general traffic rules and hazard recognition skills of those present was included.

This seminar was part of IGI Insurance’s drive to create a healthier, much safer driving environment in Pakistan. IGI Insurance also offers free Personal Accident Cover and Emergency Roadside Assistance with their Auto Insurance plan. Auto Cover is a comprehensive cover including theft, snatching, armed hold-up, accidental damage, third-party liability and terrorism with 24/7 Customer Support Services and discount on installation of standard car tracking device.

IGI Insurance Ltd. a part of the Packages Group provides risk management services and a complete line of general insurance products since 1953. For more information, please log on to www.igiinsurance.com.pk or dial toll free at 0800-23434

IGI Financial Services at the Dawn life style25th June 2007

IGI Financial Services participated in the Dawn Lifestyle Exhibition 2007 held on the 22nd, 23rd and 24th June 2007 at the Karachi Expo Center. The participating organizations were IGI Investment Bank Ltd, IGI Insurance Ltd, and IGI Securities with their respective brands (Fund Select, Travel, Fire, Marine, Auto Insurance and I-Trade).

This was the seventh successful year for the “All about Lifestyles” Exhibition in which companies belonging to different arenas gathered to display & promote their services. The ambience was that of a gala full of people, music, games; the turn out like every year was substantial and the dedication of our team at the IGI Financial Services stall made the event a success for us.

IGI Financial Services is a dynamic family of diversified companies belonging to the Packages Group that provides investment banking, insurance, asset management and full service brokerage in stocks and securities to a variety of customers nationwide. You can call us toll free at 0800-23434 to speak to our representative.

IGI Insurance sponsors event to pay homage to the renowned artist Bashir Mirza20th January 2007

IGI Insurance Limited sponsored an event held by the Foundation for Museum of Modern Art (FOMMA), on January 19, 2007, to honor renowned Pakistani artist Bashir Mirza.

The memorial event was held at the FOMMA DHA Art Center in Zamzama Park. Prominent personalities from the arts community and other art enthusiasts were invited to the event which featured works of art by the artist. These works of art were donated for the exhibition by individual owners who wished to support the event.

Before the formal start of the event, the guests were able to view the displayed art pieces in detail. The event began with an introduction of FOMMA to the invitees and then proceeded with guest speakers’ comments on Bashir Mirza’s life and work. A small video presentation featuring pictures of the artist himself along with his friends was shown to the audience in which his greatest artworks were also shown.

The event concluded with snacks and tea for the guests and was seen as a success in supporting the art community of Pakistan and for remembering a prominent artist. International General Insurance’s sponsorship of the event underscores the Company’s commitment to the arts community of Pakistan and to dedication to developing a strong relationship with the society as a whole.

IGI Insurance Limited sponsors “Art for Charity” event15th January 2006

IGI Insurance Limited in collaboration with the DAWN Group hosted a six-day charity Art Exhibition beginning from Monday, January 15, 2006 to raise funds for the ongoing relief effort for those affected by 8th October earthquake.

The “Art for Charity” exhibition features H.H. Sheikha Latifa bint Mohammad bin Rashid Al Maktoum daughter of H.H. Sheikh Mohammad bin Rashid Al Makhtoum – UAE Vice President, Prime Minister and Ruler of Dubai; Ms Uschi Scmitt Ladanyi from Germany and Ms Karen Lakar also from Germany.

The proceeds from their artistic work will be donated to the rehabilitation of earthquake victims. The event was largely attended by government officials, representatives of corporations and art lovers.

IGI Insurance has been actively promoting Art and Culture in the community by extending support to young artists and sponsoring events like “Art for Charity ”. The Company is devoted to contribute to the revitalization and heritage of art and culture in the country. Keeping this commitment in view IGI sponsors arts activities which provide opportunities for young and fresh artists to flourish so that their artistic efforts are viewed and appreciated by a wide range of audiences.

IGI Insurance Limited, headquartered in Karachi, is one of the country’s largest insurance companies, with branches in Lahore, Islamabad, Faisalabad, Multan and Sialkot. In business since 1953, the company underwrites all types of property and casualty insurance: travel, fire, marine, motor and miscellaneous. More information about the company can be found at www.igiinsurance.com.pk

Insurance

Founded in 1953 and head quartered in Karachi, IGI is a leading general insurance service provider in Pakistan. It is a flagship organization of ‘The Packages Group’ and maintains its position as the largest insurance company in Pakistan by market capitatization. Rated ‘AA’ by Pakistan Credit Rating Agency (PACRA).

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Life Insurance

IGI Life Insurance (Formerly American Life Insurance Company Pakistan Ltd.) marks entry of IGI Financial Services in to Life Insurance arena through acquisition of controlling shares in MetLife Alico Pakistan in April 2014. IGI Life is a leading provider of Life Insurance, Accident & Health Insurance and Employee Benefits Solutions.

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Investment Bank
Investment Bank

Founded in 1990, IGI Investment Bank is a leading financial services provider offering Investment Advisory, Portfolio Management, Corporate Advisory, Mutual Funds Distribution and Insurance Distribution Services.

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Securities

IGI Securities is a prestigious name in Pakistan’s brokerage industry, setting the tone of integrity, insight, innovation and highest level of ethical standards amongst the investment circles. The Company offers Equities, Commodities & Fixed Income brokerage service as well as Fundamental and Technical Research to local & foreign institutions and retail clientele.

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