Crescent Star Insurance

What Crescent Star Insurance does

Crescent Star Insurance Limited (CSIL) is a Pakistan-based, SECP-registered general insurer founded in 1957 and listed on the Pakistan Stock Exchange under the ticker CSIL, headquartered in Karachi with a Regional Office North in Lahore. The company underwrites a diversified non-life insurance book spanning Motor, Health, Fire & Property, Marine (Cargo, Hull, Aviation), Engineering (Erection All Risks, Contractor's All Risks, Machinery, Electronic Equipment, etc.), Travel, Livestock & Crop, and Miscellaneous lines (Cash-in-Safe/Transit, Product Liability, Bancassurance). The portfolio is anchored by three branded retail products: Car Aasan (motor, with tiered VAS from Classic to Platinum Plus and an online premium calculator), Sehat Aasaan (health, with tiered annual limits from PKR 100,000 to PKR 500,000, optional maternity benefits, monthly installment billing, and a dedicated Android app), and Travel Cool (Comfort, Smart, Schengen plans). Underwriting is selectively focused on Travel, Guarantees (with 100% facultative reinsurance support), and Health, supported by adequate local and international reinsurance arrangements.

CSIL's technology stack is described as standard insurance infrastructure for policy administration, claims processing, and reinsurance management; it does not surface proprietary technology or AI/ML capabilities. The company distributes via a direct branch network, a Bancassurance channel that integrates with banking partners, an Alternate Distribution Channel led by Director Komal Lodhi that introduces modern-age selling platforms, and direct/online customer contact including a self-service motor premium calculator and WhatsApp support. Customers are split into Individual & Family and Business & Corporate segments served across Pakistan.

CSIL generates revenue through insurance premiums across its product lines with pricing models that are predominantly quote-based (risk-assessed for motor, marine, engineering, fire) and subscription-based for select retail health and travel plans. The firm is PACRA-rated 'A' for financial strength, holds paid-up capital of PKR 1,077 million, has 101-250 employees, and operates three non-insurance subsidiaries (Crescent Star Foods, Crescent Star Technologies, Crescent Star Luxury), one of which (Foods) is being merged into PICIC Insurance Limited under a court-approved scheme, while another (Technologies) forms the vehicle for a planned JV with SG Power Limited in the digital and virtual assets sector.

Name

Crescent Star Insurance

Legal name

Crescent Star Insurance Ltd.

Website

https://cstarinsurance.com

Company type

Public

Founded year

1957

Operating status

Operating

Headcount range

51–100 employees

Short description

Crescent Star Insurance Limited is a Pakistan-based general insurer offering motor, health, fire, marine, engineering, travel, livestock and miscellaneous insurance products to individuals and businesses, distributed via branches, bancassurance and digital channels.

Ownership category

akta.pro rank

Headquarters

HQ city

Karachi

HQ country

Pakistan

HQ region

Asia

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Insurance Premiums: CSIL generates revenue through insurance premiums collected across multiple product lines including Motor, Health, Fire, Property, Marine, Engineering, Travel, Livestock & Crop, and Miscellaneous insurance. The company follows a focused product strategy emphasizing specialized lines such as Travel, Guarantees, and Health insurance with 100% facultative reinsurance support for guarantee business.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels4 records

Core offering

Crescent Star Insurance Limited (CSIL) is a general insurer providing diversified personal and commercial insurance coverage across Motor, Health, Fire & Property, Marine (cargo, hull, aviation), Engineering, Travel, Livestock & Crop, and Miscellaneous lines. The company earns revenue primarily through insurance premiums, supported by adequate local and international reinsurance arrangements, and distributes its products via direct branch sales, bancassurance partnerships, and an Alternate Distribution Channel serving customers throughout Pakistan.

Product overview

Crescent Star Insurance Limited (CSIL) operates as a diversified Pakistani insurer offering a comprehensive portfolio of insurance products across multiple categories. The company's core offerings include Motor Insurance (with branded Car Aasan product), Health Insurance (featuring Sehat Aasaan with monthly installment payments), Fire & Property Insurance, Marine Insurance (covering cargo, hull, and aviation), Engineering Insurance (with multiple specialized sub-products), Travel Insurance (Travel Cool plan), Livestock & Crop Insurance, and Miscellaneous Insurance (Cash-in-Safe, Product Liability, Bancassurance). The product portfolio includes both individual retail products and specialized commercial lines, supported by a Motor Premium Calculator tool for rate quotes. The company is expanding into digital and virtual assets through a joint venture.

Differentiator

Problem solved

Functional benefit

Brands

• Sehat Aasaan: Health insurance plan with inpatient hospitalization coverage, available with monthly installment payment options. Includes coverage for specialized investigations, maternity benefits, and pre/post hospitalization expenses.
• Car Aasan
• Travel Cool

Products and services

• Sehat Aasaan Health Insurance Retail health insurance plan offering inpatient hospitalization coverage for individuals aged 90 days to 75 years, including specialized investigations such as MRI, CT Scan, and Endoscopy, with optional maternity benefits and monthly installment premium payments. Cashless service available through the company's hospital network.
• Car Aasan Motor Insurance Comprehensive motor insurance covering private cars, commercial vehicles, and motorcycles with no deductible on imported vehicles, relaxed depreciation, tracking facility, and fast claim processing, offered in Classic, Silver, Gold, Platinum, and Platinum Plus value-added service tiers.
• Travel Cool Travel Insurance Travel insurance providing coverage for unexpected emergencies during travel including telephone medical advice, medical service provider referrals, hospital admission arrangement, medical evacuation, and repatriation, available in Comfort, Smart, and Schengen plans with trip coverage up to 60 days.
• Fire & Property Insurance Insurance coverage protecting buildings, stocks, machinery, and contents against fire, lightning, explosion, riot, malicious damage, earthquake, and flood, including Property All Risks, Terrorism, Hotel Owner's All Risks, and Home Insurance sub-coverages.
• Marine Insurance Insurance coverage for goods in transit and marine vessels, including Marine Cargo for Import, Export, and Inland Transit, Marine Hull covering vessels from maritime perils, and Aviation Insurance for commercial, corporate, and private aircraft operators.
• Engineering Insurance Specialized engineering insurance covering Erection All Risks, Contractor's All Risks, Contractor's Plant and Machinery, Machinery Insurance, Machinery Loss of Profit, Boiler and Pressure Vessel, Electronic Equipment, Comprehensive Machinery, and Comprehensive Project Insurance for construction and power/steel/paper/cement/sugar industries.
• Livestock & Crop Insurance Insurance coverage protecting livestock (cows, swine, goats, poultry) and agricultural crops against disasters, adverse weather events, and unexpected losses for individual farmers and agribusinesses.
• Miscellaneous Insurance Miscellaneous insurance offerings including Cash-in-Safe/Transit coverage for cash, currency, securities, and valuables against burglary in safes or during transit; Product Liability insurance covering public liability, employers' liability, professional indemnity, stock cover, and business equipment; and Bancassurance distribution of integrated banking and insurance solutions.

Quantifiable outcome

• PACRA 'A' rating denotes high credit quality and strong capacity to meet financial commitments in a timely manner

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Eight partnerships are on record, tiered flagship, core and minor.

• PICIC Insurance LimitedflagshipStrategic or Co-development Partner · 17 April 2026Crescent Star Foods (Pvt) Ltd, a subsidiary of CSIL, is being merged into PICIC Insurance Limited under a Sindh High Court-approved scheme of arrangement. PICIC Insurance will issue approximately 7.9 billion ordinary shares to Crescent Star Foods' shareholders including CSIL. Following the merger, CSIL's investment in its subsidiary will be replaced by shareholding in PICIC Insurance, effectively consolidating CSIL's position within the listed insurance entity.
• SG Power Limited (SGPL)coreStrategic or Co-development Partner · 26 December 2025CSIL plans to enter the digital and virtual assets sector through a joint venture with SG Power Limited, pending regulatory approval. The joint venture involves Crescent Star Technologies (Private) Limited (CST), with SGPL acquiring a 51% stake to develop proposals for virtual asset activities. CSIL also aims to review its investment in SGPL to enhance returns.
• Crescent Star Technologies (Private) LimitedcoreOthersSubsidiary of CSIL involved in the joint venture with SG Power Limited for digital and virtual assets sector entry. SGPL is acquiring a 51% stake in CST.
• Crescent Star Foods (Private) LimitedcoreOthersSubsidiary of CSIL headquartered at 2nd Floor, Nadir House, I.I. Chundrigar Road, Karachi. The company is being merged into PICIC Insurance Limited as part of a strategic restructuring to unlock value from the subsidiary and strengthen CSIL's presence in capital markets.
• Crescent Star Luxury (Private) LimitedminorOthersSubsidiary of CSIL, listed among associated companies on the CSIL Investors Information page.
• Reinsurance Partners (Local and International)coreOthersCSIL maintains adequate and reliable reinsurance arrangements, both local and international. Every policy issued is backed by appropriate reinsurance. The company maintains 100% facultative reinsurance support for guarantee business, giving clients confidence that their coverage is supported by sound financial protection.
• Karachi Chamber of Commerce & Industry (KCCI)minorOthersCSIL is a member of the Karachi Chamber of Commerce & Industry, maintaining industry presence and network within Pakistan's business community.
• Insurance Association of Pakistan (IAP)minorOthersCSIL is a member of the Insurance Association of Pakistan (IAP). The company actively participates in IAP's Executive Committee and technical committees, with CEO Naim Anwar having served as Vice Chairman.

Scale indicators4 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• East West Insurance Company Limited: Listed Pakistani general insurer offering Motor, Health, Fire, and Marine lines. Similar scale and product mix to CSIL within the PSX general insurance universe.
• Adamjee Insurance Company Limited: One of Pakistan's largest general insurers offering Motor, Fire, Marine, Engineering, and Health lines. Directly comparable multi-line carrier serving both individual and corporate segments in Pakistan.
• EFU General Insurance Limited: Major Pakistani general insurance carrier with a broad product portfolio including Motor, Health, Fire, Marine, and Engineering. Closely comparable multi-line general insurer competing in the same domestic market.
• Jubilee General Insurance Company Limited: Listed Pakistani insurer offering general insurance products across Motor, Health, Property, Marine, and Engineering lines. Comparable in scale, product breadth, and listed-entity status.
• IGI Holdings / IGI Insurance: Pakistani insurance group providing general insurance lines including Motor, Fire, Marine, and Health. Comparable diversified carrier operating primarily in Pakistan with listed status.
• Askari Insurance Company Limited: Pakistani general insurer offering Motor, Fire, Marine, Engineering, and Health products. Direct competitor in the multi-line Pakistani insurance market with similar bancassurance and branch distribution.
• United Insurance Company of Pakistan Limited: Listed Pakistani general insurer with comparable multi-line offerings across Motor, Health, Fire, and Marine. Similar small-to-mid cap profile and product breadth as CSIL.
• Habib Insurance Company Limited: Pakistani general insurance carrier providing Motor, Fire, Marine, and Health products. Comparable mid-sized listed insurer competing in the same domestic segment.

Emerging players

• Takaful Pakistan Limited: Pakistani Islamic insurance (takaful) operator offering Shariah-compliant alternatives to conventional Motor, Health, and Fire products. Comparable customer segments with differentiated product model.

Others

• Pakistan Reinsurance Company Limited (PRCL): National reinsurer of Pakistan providing reinsurance capacity to domestic primary insurers like CSIL. Adjacent ecosystem participant rather than direct competitor but relevant for reinsurance cost dynamics.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights7 records

Customer concentration

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Subsidiaries3 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 Crescent Star Insurance