Habib Insurance

What Habib Insurance does

Habib Insurance Company Limited is a Pakistan-based general insurance company incorporated in 1942 in Bombay and relocated to Karachi after the 1947 Partition, making it the oldest continuously operating insurance company in Pakistan. Listed on the Pakistan Stock Exchange under the ticker HICL, the company is part of the Habib Group, one of Pakistan's oldest conglomerates with operations dating to 1912. It offers a full portfolio of non-life insurance products — Property/Fire, Marine, Motor, Engineering, Travel, Miscellaneous, and Health — under both conventional and Shariah-compliant Takaful structures. Its underwriting risk is supported by a diversified panel of seven global and regional reinsurers including Hannover Re, Scor Re, Korean Re, Swiss Re, Trust Re, Best Re, and Pakistan Reinsurance Co.

The company operates through a sales-led, relationship-driven go-to-market: dedicated account managers serve enterprise clients around the clock, supported by 10+ physical branches across Karachi, Lahore, Multan, Faisalabad, Dera Ghazi Khan, and Rawalpindi. Technology layers include a digital claims management system with online motor claims submission and an online travel insurance portal (travelprotect.habibinsurance.net) that supports self-serve purchase and claim settlement across Standard, Silver, Gold, and Platinum plan tiers priced in PKR. The underwriting team averages 20 years of experience per member, supporting tailored risk assessment and policy customization.

Revenue mechanics are anchored in recurring premium income across personal and commercial lines, with named enterprise customers spanning manufacturing (Kohinoor, Master Pakistan, Dadex, Proline) and automotive (Toyota/Indus Motor Company). The company holds an A++ IFS Rating from PACRA and has been recognized 12 times as a top 25 performer on the Karachi Stock Exchange, including consecutive recognitions between 1979 and 1986 and additional awards in 1993, 1995, 1997, and 2014. Management is led by CEO Murtaza Hussain (since 2003) and Chairman Mansoor G. Habib, with multiple Habib family members serving on the board.

Name

Habib Insurance

Legal name

Habib Insurance Company Limited

Website

https://habibinsurance.net

Company type

Public

Founded year

1942

Operating status

Operating

Headcount range

101–250 employees

Short description

Habib Insurance is a Pakistan-based general insurance company offering conventional and Shariah-compliant Takaful coverage across Property, Marine, Motor, Engineering, Travel, Health, and Miscellaneous lines, serving corporate and individual clients through a 10+ branch network with dedicated account managers.

Ownership category

akta.pro rank

Headquarters

HQ city

Karachi

HQ country

Pakistan

HQ region

Asia

Offices10 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Supply Chain, Marketing or Sales, Infrastructure, Technology or R&D

Revenue model

1. Conventional General Insurance: General insurance products including Fire/Property, Marine and Transport, Motor, Engineering, Travel, Miscellaneous, and Health insurance for individuals and corporate clients
2. Takaful (Islamic Insurance): Shariah-compliant Takaful insurance products including Property, Marine, Motor, Engineering, and Travel coverage based on mutual cooperation and shared risk

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels5 records

Core offering

Habib Insurance Company Limited is one of Pakistan's oldest general insurance companies, providing both conventional and Shariah-compliant (Takaful) insurance products. Its portfolio covers Property, Marine, Motor, Engineering, Travel, Miscellaneous, and Health insurance for corporate and individual clients. The company distributes through dedicated account managers, a branch network across major Pakistani cities, and digital self-service portals for travel insurance and motor claims.

Product overview

Habib Insurance is a general insurance company offering a comprehensive portfolio of insurance products for both conventional and Shariah-compliant (Takaful) markets. The conventional products include Property Insurance, Marine Insurance, Motor Insurance, Engineering Insurance, Travel Insurance, Miscellaneous Insurance, and Health Insurance. The Takaful (Islamic insurance) division offers Shariah-compliant versions of Property, Marine (Sea/Air), Marine Inland, Vehicle, Motor Cycle, Contractor's All Risk, Electronic Equipment, Erection All Risk, Machinery Breakdown, and Travel insurance. The company serves both individual and corporate clients with a focus on Fire, Marine, Motor, Engineering, and Miscellaneous insurance classes. Travel insurance features online purchase capability through travelprotect.habibinsurance.net with multiple plan tiers (Standard, Silver, Gold, Platinum) offering worldwide medical coverage with online claim settlement.

Differentiator

Problem solved

Functional benefit

Brands

• Takaful: Shariah compliant insurance products including Property Takaful, Marine Takaful, Vehicle Takaful, Motor Cycle Takaful, Contractor's All Risk Takaful, Electronic Equipment Takaful, Erection All Risk Takaful, Machinery Breakdown Takaful, and Travel Takaful

Products and services

• Property Insurance Property insurance covering fire, lightning, explosion and allied perils for businesses and individuals.
• Marine Insurance Marine cargo insurance covering sea, air, and inland transport for import, export, and domestic shipments.
• Motor Insurance Comprehensive motor insurance for private and commercial vehicles, including motorcycles, covering accidental damage, theft, natural disasters, and third-party liabilities.
• Engineering Insurance Engineering insurance covering Contractor's All Risk, Electronic Equipment, Erection All Risk, and Machinery Breakdown for construction and industrial operations.
• Travel Insurance Online-purchasable travel insurance with worldwide medical coverage, 24/7 assistance, and tiered plans (Standard, Silver, Gold, Platinum) for individual and family travelers.
• Miscellaneous Insurance Liability and miscellaneous insurance covering public liability, product liability, umbrella liability, fidelity guarantee, cash in safe, and cash in transit risks.
• Health Insurance Health insurance covering hospitalization, maternity, major medical, and corporate major medical with optional specialized investigations and international cover.
• Property Takaful Shariah-compliant property insurance for Muslim customers under the Takaful mutual-cooperation framework.
• Marine (Sea/Air) Takaful Shariah-compliant marine cargo insurance for sea and air transport under the Takaful framework.
• Marine Inland Takaful Shariah-compliant inland cargo insurance for goods transported within Pakistan under the Takaful framework.
• Vehicle Takaful Shariah-compliant vehicle insurance cover for private and commercial vehicles under the Takaful framework.
• Motor Cycle Takaful Shariah-compliant motorcycle insurance under the Takaful framework.
• Contractor's All Risk Takaful Shariah-compliant Contractor's All Risk insurance for construction projects under the Takaful framework.
• Electronic Equipment Takaful Shariah-compliant cover for electronic equipment and systems under the Takaful framework.
• Erection All Risk Takaful Shariah-compliant Erection All Risk insurance for machinery and steel structures under the Takaful framework.
• Machinery Breakdown Takaful Shariah-compliant Machinery Breakdown insurance for plant and mechanical equipment under the Takaful framework.
• Travel Takaful Shariah-compliant travel insurance with online purchase capability under the Takaful framework.

Quantifiable outcome

• One of the highest renewal ratios in the industry
• +1 more outcomes

Named customers5 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

14 partnerships are on record, tiered core and minor.

• Hannover RecoreOthersReinsurance partner providing risk coverage capacity for Habib Insurance's portfolio
• Scor RecoreOthersGlobal reinsurer providing treaty and facultative reinsurance arrangements
• Korean RecoreOthersInternational reinsurance partner for Asian market risk distribution
• Swiss RecoreOthersGlobal reinsurance leader providing risk management and capacity
• Trust RecoreOthersReinsurance partner supporting risk distribution
• Best RecoreOthersReinsurance partner providing additional underwriting capacity
• Pakistan Reinsurance Co. LtdcoreOthersNational reinsurer providing mandatory and treaty reinsurance support
• Bank Al HabibminorOthersGroup company - part of Habib Group ecosystem providing banking and financial services
• Habib Metropolitan BankminorOthersGroup company - part of Habib Group providing banking services
• Habib Sugar Mills LimitedminorOthersGroup company - part of Habib Group managing sugar manufacturing
• Indus Motor Company LimitedminorOthersGroup company - Toyota franchise holder in Pakistan
• Greenshield Insurance Brokers LLC (Dubai)minorOthersAssociated company providing insurance brokerage services in UAE
• Grant Thornton Anjum RahmanminorOthersStatutory auditors providing external audit services
• CDC Share Registrar Services LimitedminorOthersShare registrar services for shareholder management

Scale indicators4 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Jubilee General Insurance: Jubilee General Insurance is a leading Pakistani general insurer with a diversified product portfolio including motor, fire, marine, and health. Comparable to Habib in serving both corporate and retail segments in Pakistan, with a similar broad-line general insurance model.
• EFU General Insurance: EFU General Insurance is one of Pakistan's largest general insurers offering motor, fire, marine, engineering, and miscellaneous products. Directly comparable to Habib Insurance in product mix, target market (Pakistani corporates and individuals), and underwriting model, but materially larger in scale and premium volume.
• Adamjee Insurance: Adamjee Insurance is one of Pakistan's oldest and largest general insurers, offering fire, marine, motor, and engineering coverage. Directly comparable to Habib in heritage, product breadth, and Pakistani corporate focus, though with significantly larger market share.
• Askari Insurance: Askari Insurance is a Pakistani general insurance company offering motor, fire, marine, and miscellaneous products. Comparable to Habib as a domestic general insurer serving corporate clients, with similar product line-up and underwriting orientation.
• United Insurance Company of Pakistan: United Insurance is a Pakistani general insurer offering fire, marine, motor, and miscellaneous insurance. Directly comparable to Habib in serving the domestic Pakistani market with a similar diversified product portfolio.
• Takaful Pakistan Limited: Takaful Pakistan is a Shariah-compliant insurance provider offering family and general Takaful products. Directly comparable to Habib's Habib Takaful sub-brand in offering Islamic insurance products to Pakistani consumers and corporates.
• Asia Insurance Company: Asia Insurance is a Pakistani general insurance company offering motor, fire, marine, and engineering coverage. Directly comparable to Habib as a domestic general insurer with overlapping product lines and customer segments.
• Pak-Qatar Family Takaful: Pak-Qatar Family Takaful is a Shariah-compliant insurance operator in Pakistan offering Takaful products. Comparable to Habib's Takaful division in targeting the Islamic insurance segment within Pakistan.

Broad incumbents

• State Life Insurance Corporation of Pakistan: State Life is Pakistan's largest state-owned insurer primarily focused on life insurance with some general insurance lines. Comparable as a major Pakistani incumbent in the broader insurance market, though its primary focus on life differentiates it from Habib's P&C orientation.

Others

• Greenshield Insurance Brokers (Dubai): Greenshield Insurance Brokers is an associated Habib Group company providing insurance brokerage services in the UAE. Relevant as a Habib Group affiliate and distribution partner, though its brokerage model differs from Habib Insurance's underwriting business.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/HabibInsurance
• Facebookfacebook.com/habibinsurance
• LinkedInlinkedin.com/company/habib-insurance-company-limited

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Habib Insurance