Jubilee Life Insurance

Jubilee Life Insurance Company, commonly known as Jubilee Life, (Urdu: جوبلی زندگی بیمہ) is a Pakistani life insurance company which is a subsidiary of Swiss for-profit organization Aga Khan Fund for Economic Development.[1] It is based in Karachi, Pakistan.

Jubilee Life Insurance
TypeSubsidiary
PSX: JLICL
IndustryInsurance
Founded29 June 1995 (1995-06-29)
HeadquartersKarachi, Pakistan
ParentAga Khan Fund for Economic Development
Websitewww.jubileelife.com

It is the largest and the most profitable among private insurance companies in Pakistan.[2]

History

The company was founded in 1995 as Commercial Union Life Assurance Company and was later renamed as New Jubilee Life Insurance Company Limited.[3][4]

In 2002, the Aga Khan Fund for Economic Development acquired the shares from CGU International Insurance plc.[5]

In 2011, the company rebranded from New Jubilee Insurance to Jubilee Life Insurance.[3]

In 2015, Jubilee Life entered Takaful insurance market in Pakistan.[6][4]

On July 29, 2020, Jubilee Life was awarded the Effie Award in the Insurance Category.[7] This is the first time any insurance company has won the award in this category.[7][8]

References
  1. "Profits of life insurance companies rise 28.5%". The Express Tribune. July 23, 2016.
  2. "Insurance premium: 'Proposed tax will hurt insurance sector'". The Express Tribune. June 16, 2016.
  3. D’Souza, Zoha Habib | Vanessa (August 28, 2018). "A matter of life and death". Aurora Magazine.{{cite web}}: CS1 maint: multiple names: authors list (link)
  4. Hussain, Dilawar (October 10, 2016). "Private life insurance companies end SLIC dominance". DAWN.COM.
  5. "AKFED to acquire CGU shareholding". DAWN.COM. 2002-09-18. Retrieved 2021-06-21.
  6. "Pakistan's Islamic insurance industry landscape set for makeover". The Express Tribune. September 6, 2015.
  7. admin (2020-07-29). "Jubilee Life wins prestigious Effie Award in the Insurance Category". News Update Times. Retrieved 2020-07-29.
  8. Report, Recorder (2020-07-30). "Jubilee Life wins Effie Award in Insurance Category". Brecorder. Retrieved 2020-07-30.
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