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Jubilee Insurance (Pakistan)
Pakistani general and life insurance company From Wikipedia, the free encyclopedia
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Jubilee Insurance is a brand used by Pakistani general and life insurance companies headquartered in Karachi. The two companies are subsidiaries of Swiss for-profit organization Aga Khan Fund for Economic Development.[1] As of 2024[update], Jubilee Life PSX: JLICL was the largest private-sector insurance company in Pakistan.[2] It is also the most awarded insurance company in Pakistan.
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History
Jubilee Insurance was incorporated as New Jubilee Insurance Company Limited by the Fancy family in May 1953.[3] In 1955, it was listed on the Karachi Stock Exchange. The life insurance business was nationalised in 1972 and later Fancy family sold it to the Hashwani family.[3]
In 2002, the Aga Khan Fund for Economic Development acquired the Pakistani operations of CGU International Insurance plc.[4] CGU International Insurance founded life insurance business in Pakistan in 1995.[5][6]
In 2011, New Jubilee Insurance was renamed as Jubilee Insurance.[5]
In 2015, Jubilee entered the Takaful insurance market in Pakistan.[7][6]
On July 29, 2020, Jubilee was awarded the Effie Award in the insurance category.[8]
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See also
References
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