Askari General Insurance

What Askari General Insurance does

Askari General Insurance Company Limited (AGICO) is a Pakistan-based, SECP-regulated non-life (general) insurance company incorporated on 12 April 1995 and listed on the Pakistan Stock Exchange since 10 March 1996. It operates as a subsidiary of the Army Welfare Trust (AWT), which holds 59.18% of paid-up capital (32,174,395 of 54,368,134 shares at Rs. 10 par value). The company distributes nine core product lines — health, motor, fire, marine, travel, engineering, bond, aviation, and miscellaneous insurance — plus a Window Takaful Operation for Shariah-compliant coverage. Distribution runs through 19+ branches across Pakistan's major cities (Rawalpindi HQ, Karachi, Lahore, Islamabad, Faisalabad, Peshawar, Multan, Hyderabad, Quetta, and others), supplemented by direct digital channels including live.agico.com.pk for online motor and travel purchases and the Ask Health mobile app.

AGICO's technology stack is a conventional web-portal architecture rather than a proprietary platform: Health Web Portal, Enterprise Health Portal, Policy Verification System, Online Bidding Platform, and Grievance Redressal Portal sit on the live.agico.com.pk domain, with an AskTech partnership providing GPS vehicle tracking. The company employs approximately 400 staff and underwrites with a panel of eight international and regional reinsurance partners (Hannover Re, SCOR, Saudi Re, Kuwait Re, Labuan Re, MS FirstCapital, EchoRe, Pak Re) for capacity on specialty lines. The revenue model is subscription/recurring premium collection — annual billing across motor, health, fire, and other lines, with pricing quote-based on sum insured, risk profile, and optional covers.

Customer base spans individuals and families on the retail side and a diversified enterprise book on the corporate side, with named relationships across automotive (Toyota Royal Motors, Green Track Logistics' 144-vehicle fleet), manufacturing (Interwood, Hameeda Industries, Gohar Textile, Combined Fabrics, Moderno Fabrics), aviation (Phoenix Aviation), professional services (KPMG Pakistan), pharmaceuticals (HPI Pharma), transport (Ittehad Transport, ~20-year tenure), education (Institute of Management Sciences), and agriculture. Long customer tenures — multiple enterprises cite 5-10+ year relationships — indicate low churn but also limited pricing leverage on incumbents. Reported financials point to mid-teens revenue growth from 2022 through 2025, with no disclosed AI/ML capability, no recent M&A, and no international expansion beyond the Pakistan domestic market.

Name

Askari General Insurance

Legal name

Askari General Insurance Company Limited

Website

http://www.agico.com.pk

Company type

Public

Founded year

1995

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Askari General Insurance (AGICO) is a Pakistan-based, SECP-regulated non-life insurance company founded in 1995 and listed on the Pakistan Stock Exchange, offering health, motor, fire, marine, travel, engineering, bond, aviation, and Shariah-compliant Takaful coverage to individuals, families, and enterprises across 19+ branches nationwide.

Ownership category

akta.pro rank

Headquarters

HQ city

Rawalpindi

HQ country

Pakistan

HQ region

Asia

Offices21 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Insurance Premium Revenue: AGICO generates revenue through collecting insurance premiums from policyholders across various insurance lines including motor, health, fire, marine, travel, engineering, aviation, bond, and miscellaneous insurance. Premiums are collected on annual or installment basis depending on policy terms.

Pricing tiers

Go-to-market motion2 records

Distribution channels5 records

Marketing channels6 records

Core offering

Askari General Insurance Company Limited (AGICO) is a Pakistan-based general (non-life) insurance company that underwrites and distributes a comprehensive portfolio of insurance products — Health, Motor, Fire, Marine, Travel, Engineering, Bond, Aviation, and Miscellaneous — to both individual consumers and corporate clients across Pakistan through 19+ physical branches, online portals, and a mobile application. The company also operates a Window Takaful division offering Shariah-compliant Islamic insurance.

Product overview

Askari General Insurance Company Limited (AGICO) is a non-life insurance provider incorporated in 1995, operating as a Public Limited Company (PLC) listed on the Pakistan Stock Exchange. The company offers a comprehensive portfolio of insurance products organized as core offerings plus specialized sub-products: Health Insurance (individual/family and group policies), Motor Insurance (private comprehensive, commercial vehicle, and motorcycle coverage), Fire Insurance (with terrorism and consequential loss extensions), Marine Insurance, Travel Insurance, Engineering Insurance, Bond Insurance, Aviation Insurance, and Misc Insurance for diverse risks. The product suite includes specialized package policies such as Householders Comprehensive and Shop-owners Comprehensive policies. The company also offers Window Takaful Operation for Shariah-compliant Islamic insurance products and Tracker Services for vehicle tracking. AGICO distributes through 19 branches across Pakistan and offers digital services including health web portals, enterprise health portal, policy verification, and mobile applications (Ask Health on Google Play and Apple Store).

Differentiator

Problem solved

Functional benefit

Brands

• Ask Health: Mobile health insurance application offered by Askari General Insurance available on Google Play and Apple App Store

Products and services

• Health Insurance Health insurance covering hospitalization, medical and surgical expenses, emergency treatment, and clinical outpatient services; available as group health policies for companies/NGOs or individual/family health policies.
• Motor Insurance Comprehensive motor vehicle insurance for private vehicles, commercial vehicles, and motorcycles covering accidents, theft, fire, explosion, and third-party liability.
• Fire Insurance Fire insurance covering property damage from fire, earthquake, explosion, aircraft damage, riots, strikes, malicious damage, and burglary; with specialized extensions for terrorism and consequential loss.
• Marine Insurance

Quantifiable outcome

• Claims successfully settled nationwide
• +2 more outcomes

Named customers17 records

Segments6 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Partnerships

Nine partnerships are on record, tiered core and flagship.

• EchoRecoreOthersInternational reinsurance partner providing reinsurance capacity and risk-sharing for AGICO's insurance portfolio
• MS FirstCapitalcoreOthersInternational reinsurance partner providing reinsurance capacity and risk management services
• Hannover RecoreOthersMajor international reinsurance provider offering comprehensive risk transfer solutions to AGICO
• Kuwait RecoreOthersRegional reinsurance partner providing capacity support for AGICO's insurance operations
• Labuan RecoreOthersInternational reinsurance partner operating from Labuan financial hub
• Pakistan Reinsurance Company Limited (Pak Re)coreOthersNational reinsurance company providing domestic reinsurance support and risk-sharing
• Saudi RecoreOthersMiddle Eastern reinsurance partner providing regional risk capacity
• SCORcoreOthersGlobal reinsurance group providing sophisticated risk management and reinsurance solutions
• Army Welfare Trust (Parent)flagshipStrategic or Co-development PartnerParent organization of AGICO, providing institutional backing and market credibility. Army Welfare Trust holds 59.18% shareholding in AGICO. AGICO is a subsidiary of the AWT Group of Companies.

Scale indicators7 records

Recent moves9 records

Expansion highlights6 records

Direct peers

• EFU General Insurance: EFU is one of Pakistan's largest general (non-life) insurers offering motor, fire, marine, health, and engineering coverage. Directly comparable to AGICO in product mix, distribution model, and target customers, with a much larger market position.
• Adamjee Insurance Company: Adamjee Insurance is one of Pakistan's oldest and largest non-life insurers with a comprehensive product portfolio including motor, marine, fire, and health. A direct peer competing with AGICO across all major non-life lines in Pakistan.
• Habib Insurance Company: Habib Insurance is a Pakistani general insurance company explicitly named as a competitor of AGICO, with overlapping product offerings in motor, health, fire, and marine lines for individuals and corporates.
• Atlas Insurance Limited: Atlas Insurance is a Pakistani general insurer explicitly named as a competitor of AGICO. Both serve similar motor, fire, marine, and health insurance needs through branch networks in major cities.
• Century Insurance Company: Century Insurance is a PSX-listed general insurer explicitly named as a competitor of AGICO, offering similar motor, fire, marine, and miscellaneous insurance products in Pakistan.
• Jubilee General Insurance: Jubilee is a leading Pakistani general insurer providing motor, health, fire, marine, and aviation insurance. Listed on PSX with a multi-channel distribution model, making it a direct peer to AGICO in product breadth and customer segmentation.
• UBL Insurers Limited: UBL Insurers is a Pakistani general insurer named as a competitor of AGICO. The UBL banking affiliation provides distribution and cross-sell advantages that make it a particularly relevant peer.
• United Insurance Company of Pakistan: United Insurance is a PSX-listed general insurer offering motor, fire, marine, health, and miscellaneous insurance across Pakistan. Explicitly named as a competitor to AGICO and a direct peer in product and geographic focus.

Emerging players

• TPL Insurance Limited: TPL Insurance is a Pakistan-based digital-first general insurer leveraging telematics and mobile distribution. Competes with AGICO in motor insurance and represents an emerging technology-driven threat/peer in the same Pakistani market.

Regional players

• Pakistan Reinsurance Company (Pak Re): Pak Re is a domestic reinsurer that is both a partner and quasi-peer of AGICO. While reinsurance is its primary business, it is the national reinsurance provider serving Pakistan-based insurers including AGICO, making it a comparable Pakistani insurance ecosystem participant.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat6 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/agicoho
• LinkedInlinkedin.com/company/askari-general-insurance-company-limited

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries1 record

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 Askari General Insurance