COMPANY OVERVIEW
The Universal Insurance Company Limited - a part of Bibojee Group of Companies was established by an eminent industrialist the late Lt. Gen. (R) M. Habibullah Khan Khattak.
This Company entered into insurance market in 1960. Bibojee Services (Pvt.) Limited holds 86 % of ordinary shares of the Company. The Company's principal activity is underwriting non-life insurance business.
Pakistan Credit Rating Agency (PACRA) has assigned Insurer Financial Strength (IFS) rating of "A" with stable outlook which denotes a very strong capacity to meet policyholders' and contracts obligations.
The Company is protected through its renowned re-insurer like:
Pakistan Re-Insurance Company
We, at Universal Insurance Company Limited recognize the importance of satisfying our customers by consistently providing quality insurance service in accordance with their needs and expectations. We strive to be competent partner of our customers against insured perils.
MISSIONWe strive to provide our customers cost effective insurance cover by continually increasing the productivity of our employees. To increase productivity, we conduct regular training programs during which employees are assessed and allocated a career path in accordance with their performance.
We diligently follow the applicable laws, ensure strict compliance by conducting regular internal audits and educating our employees about the law.
We try to improve our services by continually assessing our systems and procedures bases on customers and team feedback. We strive to maintain a customer focused approach by ensuring that our service is delivered to the customers on time, according to the customers required specifications and with in our stipulated cost.
BOARD OF DIRECTORS⯈ Lt. Gen (R)Ali Kuli Khan Khattak Chairman
⯈ Dr. Shahin Kuli Khan Khattak Chief Executive
⯈ Mr. Ahmad Kuli Khan Khattak
⯈ Mrs. Shahnaz Sajjad Ahmed
⯈ Mr. Khalid Kuli Khan Khattak
⯈ Wing Commd. (R) Javaid Ahmad Afzal Independent
⯈ Dr. Hassan Iqbal Independent
MANAGEMENT TEAM⯈ Mr. Amir Raza Principal Officer
⯈ Mr. Amir Nazar Chief Financial Officer
⯈ Mr. Liaqat Ali Shaukat Company Secretary & Compliance Officer
⯈ Mr. Aftab Rashid Head of IT & Grievance Dept.
⯈ Mr. Muhammad Alyas Head of U/W & Re-Insurance
BIBOJEE GROUP INFORMATIONTextile Sector Automobile, Tyre & Rubber
Janana De Malucho Textile Mills Ltd.
Sector
Ghandhara Atuomobiles Ltd.
Rahman Cotton Mills Ltd.
Bibojee Services (Pvt.) Ltd.
Ghandhara Industries Ltd.
Ghandhara DF (Pvt) Ltd.
Bannu Woollen Mills Ltd.
The Universal Insurance Company Ltd.
Business Vision (Pvt.) Ltd.
Ghandhara Tyre & Rubber Company Ltd.
Gammon Pakistan Ltd.
Insurance Sector Construction Sector
KEY RISKS⯈ Underwriting Risk: Inadequate pricing or risk selection leading to losses.
⯈ Claim Risk: High, delayed claims impacting profitability.
⯈ Reinsurance Risk: Failure or delay by reinsures in claim recoveries.
⯈ Regulatory Risk: Non-compliance with SECP Rules, solvency or reporting requirements.
⯈ Operational Process Risk: Errors in policy issuance, endorsements, or record.
⯈ Cyber / IT Risk: System outages, data breaches or cyber attacks.
⯈ Liquidity Risk: Insufficient cash to settle claims and expenses timely.
⯈ Human Resource Risk: Staff turnover, weak expertise, or misconduct.
⯈ Market Risk: Losses due to changes in equity and PIBs prices.
⯈ Interest Rate Risk: Impact of rising /falling interest rates on investments.
⯈ Fraud Risk: Internal fraud, fake claims premium misappropriation.
⯈ Reputation Risk: Poor service, claim disputes or negative publicity.
PRODUCTS & SERVICES/ GEOGRAPHICAL AREAS Products & ServicesThe Universal Insurance Company Limited provides customized services and solutions to facilitate its valued clients. Range of products offered, includes:
⯈ Fire & Property Insurance
⯈ Marine Insurance
⯈ Motor Insurance
⯈ Machine Breakdown
⯈ Cash in Transit / Cash in safe
⯈ Personal Accident
Geographical AreasUIC is providing services in the following geographical areas
⯈ Punjab
⯈ Sindh
⯈ KPK
⯈ ICT
MAJOR CLIENTS & KEY REVENUE DRIVERS Major Clients:⯈ Ghandhara Industries Ltd.
⯈ Ghandhara Automobile Ltd.
⯈ Ghandhara Tyre & Rubber Company Ltd.
⯈ Ghandhara DF (Pvt) Ltd.
⯈ Janana De Malucho Textile Mills Ltd.
⯈ Rahman Cotton Mills Ltd.
⯈ Bannu Woollen Mills Ltd.
⯈ Educational Services (Pvt.) Ltd.
⯈ BPS (Pvt.) Ltd.
Key Revenue Drivers:⯈ Underwriting Insurance Business (Direct + Coinsurance + Facultative)
⯈ Investment income
⯈ Rental income
FIVE YEARS PERFORMANCE AT A GALANCE(Rupees in million)
Description | 2025 | 2024 | 2023 | 2022 | 2021 |
Gross Premium | 56 | 23 | 33 | 107 | 115 |
Net Premium | 41 | 20 | 45 | 78 | 75 |
Claims Paid | 5 | 8 | 13 | 155 | 63 |
Net Claim Expense | (17) | 4 | 25 | 65 | 41 |
Investment | 500 | 371 | 327 | 478 | 537 |
Underwriting results | (17) | (65) | (76) | (157) | (60) |
Profit / (loss) before tax | 45 | (10) | (49) | (147) | 45 |
Profit / (loss) after tax | 40 | (5) | (155) | (111) | 40 |
Paid-up Capital | 500 | 500 | 500 | 500 | 500 |
Cash and Banks | 24 | 62 | 143 | 10 | 13 |
Total Assets | 908 | 851 | 859 | 948 | 993 |
Equity | 727 | 669 | 668 | 730 | 840 |
EPS (Rs) | 0.80 | (0.10) | (3.10) | (2.22) | 0.81 |
8
4
13
0M
(20)M
2025
(17)
2024
2023
2022
2021
Claims Paid
Net Claim Expense
5
20M
25
40M
41Years
60M
63
65
140M
120M
100M
80M
155
160M
Claims Paid & Net Claim
FIVE YEARS PERFORMANCE AT A GLANCE
40M 33
Net Premium
23
20
20M
0
2025
2024
2023
2022
2021
Gross Premium
45
41
56
60M
75
78
80M
100M
107
115
120M
Gross Premium & Net Premium
(155)
(111)
2021
2022
2023
2024
2025
(5)
40
40
50M
25M
0M (25)M
(50)M
(75)M
(100)M
(125)M
(150)M
(175)M
Rs. in Millions
FIVE YEARS PERFORMANCE AT A GLANCEProfit / (loss) before tax
Years
(175)M
(147)
(140)M
(105)M
(49)
(70)M
(35)M
2021
2022
2023
2024
2025
(10)
0
35M
45
45
70M
Profit / (loss) before tax
Investment
Years
2021
2022
2023
2024
2025
0
100M
200M
400M 371
327
300M
478
500
500M
537
600M
Investments
FIVE YEARS PERFORMANCE AT A GLANCE
Rs (3.50)
(3.10)
Rs (3.00)
(2.22)
Rs (2.50)
Rs (2.00)
Rs (1.50)
Rs (1.00)
Rs (0.50)
2021
2022
2023
2024
2025
Rs -
(0.10)
Rs 0.50
0.80
0.81
Rs 1.00
EPS (Rs)
2021 Years
2022
2023
2024
2025
750M
800M
859
851
850M
900M
908
948
950M
993
1000M
1050M
Total Assets
FIVE YEARS PERFORMANCE AT A GLANCE
2025 2024 2023 2022 2021
500
500
500
500
500
668
669
730
727
800M
700M
600M
500M
400M
300M
200M
100M
0
840
900M
Equity
Paid-up Capital
VARIANCE ANALYSIS - BALANCE SHEET
DESCRIPTION | 2025 | 2024 | VARIANCE |
(Rupees in thousand ) | |||
Property and equipment | 172,595 | 150,023 | 22,572 |
Investment property | 47,668 | 47,269 | 399 |
Investments - mutual fund | 387,601 | 312,307 | 75,294 |
Investments - debt securities | 112,384 | 58,629 | 53,755 |
Loans and other receivables | 34,061 | 103,938 | (69,877) |
Insurance/ Reinsurance receivables | 76,998 | 59,500 | 17,498 |
Reinsurance recoveries against outstanding claims | 32,114 | 38,803 | (6,689) |
Deferred commission expense | 429 | 693 | (264) |
Taxation - payments less provisions | 17,603 | 17,160 | 443 |
Prepayments | 2,607 | 1,599 | 1,008 |
Cash and bank balances | 23,919 | 61,520 | (37,601) |
Total assets | 907,979 | 851,441 | 56,538 |
VARIANCE ANALYSIS - BALANCE SHEET
DESCRIPTION | 2025 | 2024 | VARIANCE |
Paid up share capital | 500,000 | 500,000 | - |
Share premium | 13,824 | 13,824 | - |
Others | 18 | 18 | - |
Surplus on revaluation of fixed assets | 143,931 | 144,750 | (819) |
Fair value reserve on available for sale investments | 17,767 | 98 | 16,839 |
Unappropriated profit | 51,654 | 7,373 | 44,281 |
Equity | 727,194 | 668,893 | 58,301 |
Outstanding claims including IBNR | 74,555 | 96,879 | (22,324) |
Unearned premium reserves | 19,942 | 7,795 | 12,147 |
Premium deficiency reserve | 2,232 | 5,585 | (3,353) |
Unearned reinsurance commission | 170 | 67 | 103 |
Long term deposits | - | 91 | (91) |
Insurance / reinsurance payables | 74,252 | 64,446 | 9,806 |
Unclaimed dividends | 555 | 555 | - |
Other creditors and accruals | 9,079 | 7,130 | 1,949 |
Liabilities | 180,785 | 182,548 | (1,763) |
Total equity and liabilities | 907,979 | 851,441 | 56,538 |
VARIANCE ANALYSIS - PROFIT OR LOSS ACCOUNT
DESCRIPTION | 2025 | 2024 | VARIANCE |
(Rupees in thousand ) | |||
Gross insurance premium | 55,933 | 22,977 | 32,956 |
Net insurance premium | 40,787 | 20,018 | 20,769 |
Net insurance claim expense | 16,525 | (4,451) | 20,976 |
Premium deficiency | 3,353 | (2,289) | 5,642 |
Net commission | (825) | (2,050) | 1,225 |
Insurance claims and acquisition costs | 19,053 | (8,790) | 27,843 |
Management expenses | (76,519) | (75,960) | (559) |
Underwriting results | (16,679) | (64,732) | 48,053 |
Investment income | 26,926 | (22,084) | 49,010 |
Rental income | 1,276 | 749 | 527 |
Other income | 38,049 | 72,005 | (33,956) |
Other expenses | (4,943) | (5,958) | 1,015 |
Results of operating activities | 44,629 | (20,020) | 64,649 |
Share of Profit of associates - net | - | 10,275 | (10,275) |
Profit / (loss) before taxation | 44,629 | (9,745) | 54,374 |
Taxation | (4,429) | 4,900 | (9,329) |
Profit / (loss) after taxation | 40,200 | (4,845) | 45,045 |
STRATEGIC AND
OPERATION DEVELOPMENT DISCLAIMERThis presentation shows facts and future strategy only. Implementation of future strategy is always subject to positive and favorable economic indicators of the Company.