Many insurance companies operate in Pakistan. They provide multiple insurance services and plans. However, not all insurance companies are worth it when it comes to reaching an agreement with them. In this write-up, we shall enlist and write about the top 5 best insurance companies in Pakistan that you can trust.
Choosing a trustworthy insurance company requires proper knowledge and research. Often time we learn about unregistered insurance companies involved in fraud schemes. They trap gullible people and embezzle their money.
Therefore, it is always important to check the reputation of the company before trusting them with your funds.
Top 5 Best Insurance Companies in Pakistan
Following are the top 5 best and most trustworthy insurance companies operating in Pakistan. These companies have been operating for years now and have successfully developed public trust.
1. Jubilee Life Insurance
Jubilee is one of the most famous and trusted names for insurance. It started its business in Pakistan on June 20, 1996. Jubilee’s shares are also quoted on the Pakistan Stock Exchange Limited.
Moreover, JCR-VIS Credit Rating Co. Ltd has assigned Jubilee Life an IFS rating of AA+ with a Stable outlook.
Jubilee Life Insurance offers multiple insurance plans like;
- Individual Life Insurance – that helps you in saving money for your child’s needs including education, medical care, as well as marriage.
- Bancassurance
- Micro Insurance – that caters to the needs of underprivileged people.
- Corporate Insurance – designed for the corporate world
- Online Insurance
- Family Takaful – an insurance policy as per the Sharia laws
Company Website: https://www.jubileelife.com/
2. EFU Life Insurance
Among the well-reputed insurance companies in Pakistan, EFU Life Insurance Ltd holds a prominent position. The company started its work in Pakistan in November 1992.
Like Jubilee Life Insurance, EFU has also got an “Insurer Financial Strength” rating of AA+ with a Stable Outlook by VIS.
EFU offers multiple plans under different categories of insurance, such as;
- Individual Insurance
- Bancassurance
- Group Life Insurance
- Inclusive Insurance
- Hemayah Takaful
Company Website: https://www.efulife.com/
3. Adamjee Insurance Company
Adamjee Insurance Company is another trusted name in Pakistan. This company has been incorporated in Pakistan as a Public Limited Company on 28 September 1960. It is listed on Pakistan Stock Exchange Limited.
Pakistan Credit Rating Agency PACRA has given an AA+ rating to Adamjee Insurance Company.
The company broadly deals with the following classes of business:
- Fire and Property
- Marine Aviation and Transport
- Motor
- Accident & Health
- Miscellaneous Insurance
Visit the Company Website for more information.
4. Alfalah Insurance
Alfalah Insurance is another well-established name when it comes to insurance. The company started its operations in Pakistan in 2006.
The Pakistan Credit Rating Agency (PACRA) has rated Alfalah Insurance AA+ in the IFS rating.
The major services provided by the company are;
- Motor Insurance
- Property Insurance
- Health Insurance
- Marine Cargo Insurance
- Travel Insurance
- Wallet Insurance
Visit Company Website for more information.
5. State Life Insurance
State Life Insurance is the name that pops up in the mind of every Pakistani when thinking of getting life insurance. However, apart from just life insurance, the company offers other multiple insurance plans.
State Life Insurance is a public sector organization that was nationalized in 1972 in Pakistan.
Different Insurance Plans that the company offers are as follows.
- Individual Life Plans (that include but are not limited to whole life assurance, child education & marriage assurance, child protection assurance, etc)
- Health Insurance Plans
- Bancassurance
- Group Life & Pension Plans
Company’s Website: https://www.statelife.com.pk/
Disclaimer: The information provided above isn’t financial advice in any case. Please learn more about the rules and policies of insurance companies before reaching an agreement or investing your money.
Other Public & Pvt Sector Insurance Companies In Pakistan
| National Insurance Corporation | https://nicl.com.pk/ |
| Pakistan Reinsurance Company Ltd | https://pakre.org.pk/ms/ |
| Postal Life Insurance | https://plic.com.pk/ |
| Askari General Insurance Company Ltd | https://www.agico.com.pk/ |
| Alpha Insurance Company Ltd | https://alphainsurance.com.pk/ |
| Asia Insurance Company Ltd | https://asiainsurance.com.pk/ |
| Crescent Star Insurance Company Ltd | http://cstarinsurance.com/ |
| Habib Insurance Company Ltd | https://www.habibinsurance.net/ |
| International General Insurance Co. of Pakistan Ltd | https://igiinsurance.com.pk/ |
| Shaheen Insurance Company Ltd | https://www.shaheeninsurance.com/ |
| The Universal Insurance Company Ltd | https://uic.com.pk/index.php/ |
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