Askari Life Insurance Company Founded in August 18, 1992, Askari Life Assurance Company Limited is an insurer. It specializes in life insurance, health insurance and accidental insurance.
It has a strong financial back-up to ensure that all insurance needs are met. The company is also a member of the Insurance Association of Pakistan. It also offers a wide range of add-ons and products.
The company is incorporated under the Companies Ordinance, 1984. It has issued 40 million shares of Rs. 10 each. The company has also received approval from the Shariah Advisor for its financial arrangements. It also has a separate financial arrangement for its Window Takaful Operations.
This enables the company to offer a wide range of investment options. The company also has a reinsurance arrangement with a number of reputed reinsurers.
Code Of Conduct
Askari Life Assurance Company Limited has a good record of compliance and management of risks. The company has adopted best practices in corporate governance. The company has a Code of Conduct that outlines the corporate values and the roles and responsibilities of employees towards stakeholders. It is available on the company website.
The company has an extensive network of branches in Pakistan. It has a team of highly trained professionals. It also provides fast and efficient claim processing. The company has also launched its first Takaful product through agency distribution.
Moreover, it has various reinsurance arrangements with reputed international reinsurers.
Askari Life aims at achieving sustainable profitable growth. In order to achieve this, the company plans to introduce competitive products and continue to enhance its distribution network.
It also plans to introduce new marketing strategies. In addition, the company has been implementing a comprehensive compliance mechanism to ensure that the company complies with the rules and regulations imposed by the Insurance Regulatory Authority.
The company has maintained a MIS system to monitor the adequacy of the premiums charged. The company has also discussed the issue of sales tax with the provincial tax authorities. It has not yet begun to invoice sales tax to its customers. It has also mentioned a legal opinion in its Audited Financial Statements.
Aims Of Askari Life Insurance
The company aims at providing its clients with the best insurance experience. It has also launched a wide range of add-ons. It also has a client fixated policy management system. It provides a wide range of products, including accident insurance, travel insurance, group life insurance, and individual life insurance.
The company has also launched its first Individual Family Takaful product. It also offers a minimum 10 year riba-free investment.
The company has a team of highly trained professionals who are dedicated to providing the best insurance experience to its clients. It offers insurance for all occurrences. It also provides claim settlement and financial services.
The company provides comprehensive peace of mind to its clients. It also offers a range of services and products to help clients become industry leaders.
The company has also issued the 28th Annual Report for the year ended December 31, 2020. The report also states that the company has issued 40 million shares of Rs. 10 to its shareholders. In addition, the company has invested Rs. 35.3 million in sales tax.
It also has calculated the amount of sales tax on the basis of risk-based premiums. It has also applied the Code of Corporate Governance principles.