Top 10 Insurance Services Companies in Pakistan

We often experience things that we did not think about, and most of the time, we struggle to cope with these experiences because we did not plan on these matters and we are just clueless about them.

That’s a lot of stress right there!

To save yourself from mental and financial distress, we advise that you get financial security in the form of insurance.

This article will focus on all the important aspects of insurance. If you are someone who needs to know about insurance companies in Pakistan, this article is for you.

Why all the Hype about Insurance Companies?

The concept of insurance is getting popular day by day, especially in South Asia. In Pakistan, people are skeptical and in most cases, unaware of insurance. It is crucial to know the inside out of insurance, especially in today’s fast-moving and unpredictable era.

Insurance is a method by which you transfer or mitigate your risk. When you get insurance, you are shifting the responsibility of your loss to the insurance companies (under certain terms and conditions).

The companies further mitigate the risk by spreading it over several people or firms. These people pay a premium (a set amount of money) that will be used to pay for your loss caused by different circumstances such as fire, accident, illness, or death.

Different Types of Insurance

  1. Life Insurance
  2. Property Insurance
  3. Fire Insurance
  4. Liability Insurance
  5. Guarantee Insurance
  6. Social Insurance
  7. Medical Insurance in Pakistan

Why should I get Insurance?

Let’s get this straight: Insurance provides security in the long run.

As I already mentioned, life is unpredictable. You never know when you will be needing financial aid. Instead of relying on relatives and loans, it is a good idea to get yourself insured.

Some of the major pros of insurance are:

  • It gives you financial protection i.e. you do not have to rely on external sources for money.
  • It will give you peace of mind and you will not have to worry about the forthcoming.
  • It will allow you to mitigate risk.

In Pakistan, many insurance companies are providing insurance on easy terms and conditions. Some of the major insurance companies are thoroughly discussed in this article.

Top Insurance Companies in Pakistan

Insurance CompanyWebsiteContact
Jubilee Life InsuranceJubilee Life Insurance+92-21-35205095, +92-21-32120201
EFU Life InsuranceEFU Life Insurance+92-21-111-338-111
Adamjee Insurance CompanyAdamjee Insurance Company+92-42-35772960-79
Alfalah InsuranceAlfalah Insurance+92-42-111-234-222
State Life Insurance Corporation of PakistanState Life Insurance Corporation of Pakistan+92-21-99202800-9

1. Jubilee Life Insurance

Jubilee Life Insurance associates its brand with the word “happiness” and that too, for all the right reasons. Jubilee Life Insurance is known among the masses because of its exceptionally low premium health policies of insurance services and easy terms and conditions.

Jubilee offers the following insurance policies for its customers:

  • Individual life insurance (helps you save money for your child’s needs including his/her education, medical care, and marriage).
  • Bancassurance (a one-stop shop for all your banking, insurance, and financial requirements).
  • Micro-insurance (an insurance policy specially designed to cater to the needs of underprivileged people).
  • Corporate insurance (an insurance policy specially designed for the corporate world)
  • Online insurance
  • Family Takaful (an insurance policy that is per the Sharia laws).

Contact: +92-21-35205095, +92-21-32120201

Website:Jubilee Life Insurance

2. EFU Life Insurance

EFU Life Insurance started its operations in 1992 as the first private life insurance in Pakistan. EFU is known to have the largest financial base in the private sector with the highest-paid capital of around 1Billion. It is considered one of the best insurance companies in Pakistan.

EFU offers its customers a diversified portfolio with the best value products. The company also provides you with a mobile application, known as EFU Life PlanIT. You can easily track your records and information through this app. Also, EFU Life Insurance is the first life insurance company in Pakistan to be ISO-certified.

Some of the major product offerings by EFU include:

  • Unit-linked products
  • Critical Illness Products
  • Education Planning Product
  • Inflation Protection Benefit
  • Pension Plans

Contact: +92-21-111-338-111

Website:EFU Life Insurance

3. Adamjee Health Insurance Company

The next insurance company on our list is Adamjee Health Insurance Company. AICL started its operations on 28th September 1960 and currently, it is considered to be the largest general insurance company in Pakistan.

AICL is an international name, having its presence in other regions such as the United Arab Emirates.

The company deals with the following classes of business:

  • Engineering insurance
  • Fire & property insurance
  • Health insurance
  • Marine insurance
  • Motor insurance
  • Travel Insurance
  • Agriculture insurance
  • Miscellaneous insurance
  • Financial lines insurance
  • Liability lines insurance
  • Personal accident insurance

All the insurance services offered by the company are IS0 9001 certified. Apart from this certification, the company has also received national and international recognition in the form of awards and certificates.

Contact: +92-42-35772960-79

Website:Adamjee Insurance Company

4. Alfalah Insurance Company

One of the latest players in town is Alfalah Insurance Company which is a venture of Abu Dhabi Group. The company is operating in all the major cities of Pakistan including Islamabad, Karachi, and Lahore.

The company deals in many kinds of insurance policies including:

  • Health Insurance
  • Motor Insurance
  • Property Insurance
  • Marine Cargo Insurance
  • Energy Insurance
  • Engineering Insurance
  • Miscellaneous Insurance

The Pakistan Credit Rating Agency (PACRA) recently upgraded the rating of the company, granting it the “AA” category. This category depicts a strong financial position and top-notch services. So, if you are looking for an insurance policy for yourself, Alfalah Insurance Company should be on your list.

Contact: +92-42-111-234-222

Website:Alfalah Insurance

5. State Life Insurance Corporation of Pakistan

State Life Insurance Corporation of Pakistan is a government-owned body that provides a variety of insurance policies to its clients. It is one of the most popular insurance companies in Pakistan. Also, State Life tops the list when it comes to the life insurance companies in Pakistan.

It not only offers individual policies but also deals with group plans.

Some of the individual plans offered by the corporations are:

  • Whole Life Assurance.
  • Endowment Assurance.
  • Shad Abad Assurance.
  • Anticipated Endowment Assurance.

On the other hand, other categories of insurance include:

  • Jeevan Sathi Assurance
  • Child Protection Assurance
  • Wealth Builder Plan
  • Supplementary Covers
  • Health Care Plans

Interestingly, the State Bank website also provides you with a whole variety of calculators that you can use to calculate insurance. The calculators available on the website are:

  • Whole Life Assurance
  • Endowment Assurance
  • Jeevan Sathi Assurance

Contact: +92-21-99202800-9

Website:State Life Insurance Corporation of Pakistan

So, these are some of the best insurance companies in Pakistan. Go through their details and choose the one that suits your needs the most. Also, let us know why you think insurance is important for us. Get to know home loans in Pakistan

Additional Top Insurance Companies in Pakistan

  • National Insurance Company Limited
  • IGI General Insurance Limited
  • Askari General Insurance Company
  • Habib Insurance
  • Dawood Family Takaful
  • Pak-Qatar General Takaful Limited
  • East West Insurance Co
  • Askari General Insurance Company Limited

A Summary

RankInsurance CompanyYear EstablishedKey Offerings/RemarksHeadquarters Location
1State Life Insurance Corporation1972Diverse life insurance products, individual plans, group schemes, pension plansPakistan
2Jubilee Life Insurance1995Emphasis on happiness, comprehensive life insurance coverage, public limitedKarachi, Pakistan
3Adamjee Insurance1960A major player in health insurance also offers various insurance plansPakistan and UAE
4EFU Life Insurance1932ISO certified, known for life assurance services, mobile application availablePakistan
5Alfalah Insurance Company2006Part of Abu Dhabi Group offers affordable insurance plansLahore, Karachi, Islamabad
6Pak Qatar General TakafulNot specifiedOffers Takaful coverage, Shariah-compliant plansPakistan
7Askari General Insurance Company1995First listed on the Pakistan Stock Exchange, client-centric servicesPakistan
8Alpha Insurance Company1951Subsidiary of State Life Insurance, extensive network of branchesPakistan
9TPL Insurance200524/7 health insurance services, offers GPS locator for auto insurancePakistan
10United Insurance Company (UIC)1959Oldest insurance company, strong network of branches, 4th largest in general insuranceFaisalabad, Abbottabad, Bahawalpur, Gujranwala, Karachi, Islamabad, Bahawalnagar, Gilgit Baltistan, Lahore


None of the information published in this article should be construed as investment advice. We strongly advise our readers to always do their due diligence before investing in any project. It is the reader’s responsibility to know the laws regarding investments in their region.

Besides these companies, Govt of Pakistan also has launched the Sehat card in the Sehat Sahulat Program in Punjab, KPK and Federal territories. It will provide about 1000000 Rs. annual health insurance to every family in Pakistan.


How many insurance companies are in Pakistan?

The number of insurance companies in Pakistan may change over time due to various factors such as mergers, acquisitions, or new entrants. For the latest and most accurate count, it is recommended to refer to the latest reports from regulatory bodies like the SECP.

Who is the top 10 insurance company?

Again, the rankings of insurance companies can change over time, and it’s essential to refer to recent industry reports or rankings by relevant authorities for the most accurate information.

Which is the oldest insurance company in Pakistan?

Adamjee Insurance Company Limited is one of the oldest insurance companies in Pakistan. It was established in 1960 and has a long history in the insurance industry.

Which is the most popular insurance company?

The popularity of insurance companies can be subjective and may depend on various factors, including customer preferences, services offered, and market perception. It is advisable to check recent customer reviews, industry reports, or surveys to determine the current popularity of insurance companies in Pakistan.

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