Atlas Insurance Limited (Pakistan)

The Atlas Insurance Limited (Formerly Muslim Insurance Co. Ltd) was founded in 1934 by Dr. Sir Mohammad Iqbal and is the oldest insurance company in Pakistan. Atlas Insurance made steady progress and became one of the leading company in the field of life insurance in the country. Unfortunately, it came under Government appointed management from 1961 to 1979. In the mean time, the life business was nationalized in 1972 and the company lost major segment of its business. Later in the year 2006, the name of the company has been changed from Muslim Insurnace Company Ltd. to Atlas Insurance Limited.
Atlas Insurance Limited (AIL) is providing efficient service to its Clients and also paying good dividends to its shareholders regularly. The equity of the company has grown from Rs. 1.6m in 1979 to Rs.370.8 million in 2005. Investments at cost have grown from 3.4m to over Rs. 280m. In 1996 the company paid one of the largest single claim in the country of over Rs. 380.0m which speaks of the inherent strength of the company and the satisfactory re-insurance arrangements.
The company enjoys full support and backing of the Atlas Group and has re-insurance arrangements with world renowned re-insurers like Swiss-Re, Hannover-Re, Tokio Marine & Nichido Fire Insurance, Sompo Japan Insurance Inc.
AIL was also assigned a Financial Performance Rating of 7 on a scale of 1-9. by the world renowned Credit Rating Agency, A.M. Best Company of New Jersey, USA.
To provide prompt and efficient service to clients AIL has developed a branch network all over the country. It has also developed team of professionals always striving to excel in service.
In line with the Atlas Group philosophy and commitment, Atlas Insurance is being managed in accordance with good international practices and entrepreneurial norms and customs as followed by the reputable international insurers.
Atlas Insurance is a financially sound and a professionally managed company and has been awarded the "KSE Top 25 Companies Award 2005", the only insurance company selected for this prestigious award.
The company was also adjudged as one of the "Top 5 companies" in the financial sector by a joint committee of the Institute of Chartered Accountants of Pakistan (ICAP) and the Institute of Cost & Management Accountants of Pakistan (ICMAP) and was awarded the "Best Corporate Report Award 2003