Jubilee Life Insurance Window Takaful Achieves Milestone- January 11,2017
January 11, 2017Karachi, January 09, 2017: Jubilee Life Insurance, the country’s leading life insurance company, launched window Takaful operations in 2015 and has successfully become the first insurance provider achieving the milestone of one billion rupees in premiums within a record time.
Speaking about this achievement, Javed Ahmed, CEO and MD, Jubilee Life Insurance said, “SECP’s decision of starting Takaful window operations was excellent for the industry as it has helped us increase the consumer base. Although, the percentage of people not opting for traditional insurance due to religion was always fairly low. Today, we stand even more determined to excel and with our focused strategy covering all growth areas resulting in continued success for the organization.”
The Company has been performing well and is leading the insurance industry with a growth rate of 41 percent in topline and 70 percent in bottomline. Jubilee Life pioneered in establishing the bancassurance channel of distribution and excelled it. The same channel was used for Takaful to reach out to the masses and enhance penetration. This achievement reaffirms Jubilee Life’s position as the market leader and the most consumer friendly insurance provider.
Jubilee Insurance is a global brand of Aga Khan Fund for Economic Development (AKFED) that offers diverse insurance solutions (life, health and general) in the Asian and East African markets. Jubilee Life in Pakistan offers uniquely designed range of life and health insurance / Takaful plans, catering to various customer segments and needs. These include retirement, child education, marriage, saving & protection, wealth accumulation, life insurance plans for women, rural insurance plans and life and health insurance solutions for the less privileged of our country.
