Century Insurance Company Limited
Your Trust Our
Assurance
Nine Months Report September 2022 (Un-audited)
Century Insurance at a Glance
- Century Insurance is a Lakson Group Company.
- Operating since 1989, dealing in all areas of general insurance and takaful business.
- One of the premier general insurance companies of Pakistan.
- Rated "AA" with a stable outlook by VIS Credit Rating Co. Limited, signifying a 'very strong capacity to meet policyholders' and contractual obligations'.
- Total equity in excess of Rs. 2.3 billion.
- Twice awarded 'Top 25 Companies Award' by the Karachi Stock Exchange.
- Very strong reinsurance treaty arrangements with highly rated international reinsurers.
- Broad client base consisting of individuals as well as some of the most prestigious local and multinational companies.
Table of Contents
Financial Statement
Conventional Operations
Vision and Mission | 2 |
Corporate Information | 3 |
Directors' Review | 4 |
Directors' Review (Urdu) | 7 |
Condensed Interim Statement of Financial Position | 8 |
Condensed Interim Profit and Loss Account (Un-audited) | 10 |
Condensed Interim Statement of Comprehensive Income | 11 |
Condensed Interim Statement of Cash Flows | 12 |
Condensed Interim Statement of Changes in Equity | 14 |
Notes to and Forming Part of the Condensed Interim Financial Statements | 15 |
Financial Statement
Window Takaful Operations
Condensed Interim Statement of Financial Position | 36 |
Condensed Interim Profit and Loss Account (Un-audited) | 38 |
Condensed Interim Statement of Comprehensive Income | 39 |
Condensed Interim Statement of Cash Flows | 40 |
Condensed Interim Statement of Changes in Fund | 41 |
Notes to and Forming Part of the Condensed Interim Financial Statements | 43 |
Our Vision
To be an organization known for integrity and ethical behavior and fully dedicated to its Clients, Business Partners, Shareholders and Employees, providing exceptional quality service and committed to achieving excellence in all areas of its operations.
Our Mission
- To become a company of choice for its valued Clients, Stockholders and Employees.
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and resilience of the company so that it may be able to withstand any unexpected shocks or cyclical economic downturns.
- The Company culture to be known for Integrity and Ethical behavior.
- The Company to be known as one of the best insurance companies of the country.
Corporate Information
Board of Directors
Mr. Iqbal Ali Lakhani - Chairman
Mr. Amin Mohammed Lakhani
Ms. Anushka Lakhani
Mr. Aftab Ahmad
Mr. Sadrudin Ismail Mohamed
Mr. Akber Dawood Vazir
Advisor
Mr. Sultan Ali Lakhani
Mr. Sabza Ali Pirani
Company Secretary
Mr. Mansoor Ahmed
Audit Committee
Mr. Sadrudin Ismail Mohamed - Chairman
Mr. Amin Mohammed Lakhani
Mr. Aftab Ahmad
Investment Committee
Mr. Iqbal Ali Lakhani - Chairman
Mr. Aftab Ahmad
Mr. Mohammad Hussain Hirji
Mr. Sabza Ali Pirani
Ethics, Human Resource & Remuneration Committee
Mr. Sadrudin Ismail Mohamed - Chairman
Mr. Amin Mohammed Lakhani
Mr. Akbar Dawood Vazir
Mr. Mohammad Hussain Hirji
External Auditors
M/s. EY Ford Rhodes
Chartered Accountants
Shares Registrar
M/s. FAMCO Associates (Pvt.) Ltd. 8-F, Near to Hotel Faran, Nursery, Block-6, P.E.C.H.S., Shahra-e-Faisal, Karachi.
Tel: (021) 34380101-2
Fax: (021) 34380106
Email: info.shares@famco.com.pk
Website: www.famco.com.pk
Bankers
Al Baraka Bank (Pakistan) Limited
Askari Bank Limited
Bank Alfalah Limited
Bank Islami Pakistan Limited
Dubai Islamic Bank Pakistan Limited
Habib Bank Limited
Habib Metropolitan Bank Limited
JS Bank Limited
MCB Islamic Bank Limited
Meezan Bank Limited
Silkbank Limited
Soneri Bank Limited
Standard Chartered Bank (Pakistan) Limited
United Bank Limited
Lakson Square, Building No. 2, Sarwar Shaheed Road, Karachi-74200.
11th Floor, Lakson Square, Building No. 3, Sarwar Shaheed Road, Karachi-74200.
Website: www.cicl.com.pk
UAN: 111-111-717
NTN: 0710008-6
Century Insurance Company Limited 3
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