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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.
Back to TopIGI Investment Bank Ltd. has been serving corporate and individual investors for the last two decades, and is known across the industry for its integrity and reliability. As part of the expanding IGI Financial Services Group, we have created internal synergies to grow in size while remaining one of the most dynamic and flexible investment firms. This makes it possible for us to pool our expertise and create a customized strategy for every investor that comprehensively covers every aspect of their financial well being.
Investors will be assigned personal Wealth Managers, and a highly experienced Investment Committee which will oversee and review investment strategies that are carefully modified to meet the unique requirements of every individual. Our clients have the opportunity to diversify into an entire portfolio of assets including Mutual Funds, Stocks, Government & Corporate Bonds, Commodities (such as Gold, Oil & Silver), Insurance, and Shariah compliant investments, all through a single point of contact. Special services are also available for clients interested in Tax Planning and the establishment of specific trusts to oversee their Estate or Charitable activities, while they may also avail both secured and unsecured credit where eligible.
Raeda Latif, Head of Wealth Management at IGI Investment Bank, when contacted said. “We aren’t interested in a quick sell; instead we utilize proven economic and financial constructs to make informed decisions, conduct business in a way that maintains our history of financial integrity, and most importantly, provide our clients with the exclusive level of service they expect”.
As asset markets around the globe ready themselves for the challenges of 2010, high net worth investors will recognize the value of IGI Wealth Management’s proactive, well informed and strategic decision making. With personalized strategies, exemplary service, and a commitment to relationships built on trust, IGI Wealth Management may prove to be exactly what the market has been searching for.
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.
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At the end of FY09, IGISF posted a stellar performance. The fund registered a Month to Date return of 0.6% against a benchmark decline of (1.57%). Since Inception, the fund has appreciated by 32.9% against a KSE-100 depreciation of (34.65%). IGISF was among the very few to announce a payout. The Fund treated its unit holders to a Cash Dividend of Rs.25.3111 (Bonus Issue of 23.5268 per 100 units). Presently, the fund has net assets of PKR ~500Mn.
Back to TopIGI 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 IGI Insurance
Over the last fifty years IGI has established a sound business in the non-life insurance sector in Pakistan on the basis of well governed operations based on the highest ethical and integrity levels and a focus on customer service. Its secure ethical business base is manifest by the fact that whereas IGI is among the top 5 companies in the industry in Pakistan in terms of gross premium, it has the highest underwriting profitability ratio, solvency margin and net realizable asset value, and has one of the strongest balance sheets in the industry.
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.
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
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.