Atlas Insurance

What Atlas Insurance does

Atlas Insurance Limited is a Pakistan-based general insurance company founded in 1934 and headquartered in Lahore, owned by the Atlas Group since 1980. The company underwrites a broad portfolio of non-life insurance products spanning motor (private car, commercial vehicle, motorcycle), fire and property, marine cargo, travel, engineering (Contractors All Risk, Erection All Risk, Machinery Breakdown, Computer All Risk, CECR), liability (public, professional, D&O, product, contractual), and miscellaneous covers (cash, fidelity guarantee, mobile phone, livestock, crops, workmen compensation). It also operates Window Takaful Operations, launched in March 2016 under SECP license, providing Shariah-compliant general takaful products supervised by a dedicated Shariah Advisor.

The company distributes its products through a nationwide branch network supported by a computerized information and control system, a direct sales force handling corporate and enterprise accounts, and the Digisure online portal, which enables self-service purchase of motor, travel, home, and miscellaneous cover. Capital and risk-bearing capacity are reinforced by reinsurance arrangements with seven global reinsurers including Swiss Re, Hannover Re, Tokio Fire & Nichido Marine, Sompo, Korean Re, Kuwait Re, and Luban Re. The company holds a PACRA Insurer Financial Strength rating of AA+ (upgraded from AA in March 2022 with stable outlook).

Atlas Insurance generates revenue primarily through insurance premiums collected from corporate and individual policyholders across its general insurance lines and Shariah-compliant takaful operations. As of 2019, the company reported equity of Rs. 3.707 billion, total assets of Rs. 7.034 billion, and investments of Rs. 4.775 billion. The company is privately held, employs 101-250 people, and operates exclusively within Pakistan. It serves both enterprise customers (e.g., Atlas Honda, HBL, Techlogix, Visiotech, Integration Xpert, and government clients such as Pasha) and individual retail consumers through its branch and digital channels.

Name

Atlas Insurance

Legal name

Atlas Insurance Limited

Website

https://ail.atlas.pk

Company type

Private

Founded year

1934

Operating status

Operating

Headcount range

101–250 employees

Short description

Atlas Insurance Limited is a Lahore-based, privately held general insurance company founded in 1934 and owned by Atlas Group, underwriting motor, fire, marine, travel, engineering, liability, and Shariah-compliant Takaful products for Pakistani corporate and retail customers via a nationwide branch network and the Digisure online portal.

Ownership category

akta.pro rank

Headquarters

HQ city

Lahore

HQ country

Pakistan

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Insurance Premiums: Atlas Insurance Limited generates revenue through collecting insurance premiums from policyholders across various insurance lines including motor, fire, marine, travel, engineering, and miscellaneous coverage. The company operates both conventional insurance and Window Takaful Operations launched in March 2016 for Shariah-compliant insurance products.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels5 records

Core offering

Atlas Insurance Limited is a general insurance company that underwrites and distributes a broad portfolio of insurance policies across motor, fire, marine, travel, engineering, liability, and miscellaneous lines, complemented by Shariah-compliant Window Takaful Operations. Coverage is delivered to both individual consumers (via the Digisure online portal and branches) and corporate/enterprise clients (via a direct sales force), with reinsurance backing from leading global reinsurers such as Swiss Re, Hannover Re, Tokio Fire & Nichido Marine, and Sompo.

Product overview

Atlas Insurance is a general insurance company offering a comprehensive portfolio of insurance products across multiple categories. The core offerings include Motor Insurance (Private Car, Commercial Vehicle, and Motorcycle Comprehensive), Fire Insurance, Marine Insurance (Cargo Import, Export, and Inland), Travel Insurance (World Wide), Home Insurance, and Personal Accident Insurance. The company also provides specialized Engineering Insurance products including Computer All Risk, Contractors All Risk, Erection All Risk, Machinery Breakdown, CECR, and Electronic Equipment coverage. Liability products encompass Public Liability, Professional Indemnity, Product Liability, Contractual Liability, and Directors & Officers Liability. Miscellaneous offerings include Cash insurance (Transit, Safe, Counter), Mobile Phone, Fidelity Guarantee, Livestock, Crops, Workmen Compensation, Neon Sign, and Plate Glass insurance. Additionally, the company offers Window Takaful Operations for Shariah-compliant insurance coverage. Products are available through both conventional and takaful (Islamic insurance) options, and can be purchased online through the Digisure platform.

Differentiator

Problem solved

Functional benefit

Brands

• Digisure: Online digital insurance platform for purchasing various insurance products including motor, travel, home, and personal accident insurance.

Products and services

• Motor Insurance (Private Car Comprehensive)
• Commercial Vehicle Comprehensive Insurance Commercial vehicle comprehensive insurance coverage against accidental own damage, theft of the vehicle and third party liability for property damage and bodily injury and/or death, designed for businesses operating commercial fleets.
• Motorcycle Comprehensive Insurance Motorcycle comprehensive insurance coverage against accidental own damage, theft of the motorcycle and third party liability for property damage and bodily injury and/or death as per Motor Vehicle Act requirements.
• Travel Insurance (World Wide) Comprehensive worldwide travel insurance providing 24-hour protection for business or leisure travelers, covering emergency medical expenses, hospitalization, repatriation, loss of luggage and passport.
• Fire Insurance Insurance coverage protecting assets against fire, lightning, atmospheric disturbance, burglary, aircraft damage, impact, earthquake, riot, malicious damage, and explosion, for commercial and residential properties.
• Marine Cargo Insurance Marine cargo insurance covering loss or damage to goods transported by sea, air, and rail/road transit under Institute Cargo Clauses A, B, and C, for importers, exporters, and inland shippers.
• Home Insurance Residential building insurance covering boundary wall, furniture, fixtures, electrical appliances against fire, atmospheric disturbance, burglary, aircraft damage, impact, earthquake, riot, malicious damage and explosion.
• Personal Accident Insurance Comprehensive personal accident insurance covering accidental death, bodily injury, permanent total/partial disablement, temporary total/partial disablement on a 24-hour worldwide basis.
• Computer All Risk Insurance All-risk insurance covering delicate and high-value computer equipment against sudden and unforeseen losses including fire, burglary, accidental damage, and faulty operations.
• Erection All Risk Insurance Comprehensive insurance providing complete protection against all types of risks involved in erection of machinery, plant and steel structures, including Section 2 for Third Party Liability coverage.
• Contractors All Risk Insurance Insurance covering civil works like construction of roads, bridges, dams, high rises, housing projects against sudden and unforeseen loss or damage, including construction plant, equipment, machinery and surrounding property claims.
• Machinery Breakdown Insurance Insurance covering plant and machinery successfully tested and commissioned for normal production against all sudden and unforeseen breakdown, including during operation, at rest, or during dismantling for cleaning or overhauling.
• CECR (Civil Engineering Completed Risk) Specialized insurance covering completed projects of roads, dams etc. against damages due to fire, lightning, explosion, aircraft impact, earthquake, storm, flood, subsidence, landslide, frost, avalanche, and vandalism.
• Public Liability Insurance Insurance providing coverage against legal liability to pay for death, bodily injury and/or direct damage to property of any third party arising due to accident caused by insured's business activities.
• Professional Liability (Indemnity) Insurance Insurance protecting professionals such as accountants, lawyers, and physicians against negligence and claims initiated by their clients for mistakes in professional services.
• Directors and Officers Liability Insurance Specialized cover compensating Directors and Officers of a company for losses and defense costs in the event of legal action brought for alleged wrongful acts in their capacity.
• All Risk Insurance Insurance providing cover against loss or damage to insured property by any accident or misfortune while the property is within defined limits.
• Cash in Transit Insurance Coverage against loss of Cash, Currency Notes, Coins, Securities for Money, Postal Orders, Stamps, and Cheques whilst in transit enroute to final destination and/or in locked safe.
• Cash in Safe Insurance Protection against theft or robbery when money is kept in safe, covering loss due to dacoity/robbery belonging to the client's business/trade.
• Fidelity Guarantee Insurance Insurance protecting employers against direct pecuniary loss suffered due to fraud or any other act of dishonesty committed by their employees.
• Mobile Phone Insurance All-risk mobile phone insurance covering accidental damages like fire, violent theft, armed hold-up, robbery and earthquake anywhere in Pakistan.
• Livestock Insurance Insurance covering financial losses to farmers engaged in rearing of animals for business/livelihood purposes against risks leading to death or disabilities including natural death, disease, accidental death, fire, hail storm, electrocution, and lightning.
• Crops Insurance Insurance covering financial loss due to damage to crops by natural disasters including flood, excessive rain, drought, hail storm, frost, locust attack, and disease/insect attack caused by excessive rain and flood.
• Workmen Compensation Insurance Coverage for legal liabilities of employers arising out of and in the course of employment as per Workmen Compensation Act, Fatal Accident Act, or at Common Law.
• Window Takaful Operations Shariah-compliant general takaful products designed under supervision of a certified Shariah Advisor, launched in March 2016 after obtaining SECP license, catering to Islamic insurance requirements.

Named customers6 records

Segments3 records

Ideal customer profiles3 records

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Seven partnerships are on record, tiered core and minor.

• Swiss RecoreStrategic or Co-development PartnerLeading global reinsurer providing reinsurance capacity and risk management support for Atlas Insurance's insurance portfolio.
• Hannover RecoreStrategic or Co-development PartnerGerman multinational reinsurer providing financial strength and reinsurance solutions.
• Tokio Fire & Nichido MarinecoreStrategic or Co-development PartnerJapanese reinsurance group providing specialized reinsurance coverage and risk expertise.
• SompocoreStrategic or Co-development PartnerJapanese insurance and reinsurance company offering risk solutions and underwriting support.
• Luban ReminorStrategic or Co-development PartnerMalaysian reinsurer providing reinsurance capacity, particularly supporting Takaful operations.
• Korean ReminorStrategic or Co-development PartnerKorean reinsurance company providing regional reinsurance support.
• Kuwait ReminorStrategic or Co-development PartnerKuwaiti reinsurer providing Middle East regional reinsurance capacity.

Scale indicators5 records

Recent moves6 records

Expansion highlights5 records

Emerging players

• TPL Insurance: Tech-led Pakistani general insurer (part of TPL Group) with a strong digital distribution model and a growing motor and health book. Represents the insurtech-style competitor that Atlas's Digisure portal is positioned against in the same Pakistani market.
• Pak Qatar Family Takaful: Pakistani takaful operator offering Shariah-compliant family and general takaful products. Comparable to Atlas's Window Takaful Operations from a Shariah-compliance and product-shape perspective, and competes for the same Islamic-insurance customer segment in Pakistan.

Direct peers

• EFU General Insurance: Largest general (non-life) insurer in Pakistan, offering the same core product categories as Atlas — motor, fire, marine, engineering, liability, and miscellaneous — to corporate and retail clients nationwide. Direct head-to-head competitor for blue-chip corporate accounts and reinsurance arrangements.
• Adamjee Insurance: One of Pakistan's oldest and largest general insurers, with a diversified P&C portfolio very similar in shape to Atlas's: motor, fire, marine, engineering, liability, and miscellaneous lines. Direct competitor for large corporate, SME, and individual customers.
• Askari Insurance: Pakistan general insurer with strong corporate and SME positioning across motor, fire, marine, engineering, and liability lines. Comparable distribution mix (branch-led, with growing digital channels) and similar enterprise-customer orientation to Atlas.
• Habib Insurance: Pakistani general insurer operating across motor, fire, marine, engineering, and miscellaneous lines, with ties to the Habib Group conglomerate. Competes with Atlas for both corporate and retail business and shares a similar conglomerate-parented go-to-market approach.
• Jubilee General Insurance: Top-tier Pakistani general insurer with a comparable multi-line book (motor, fire, marine, engineering, health, miscellaneous) and a national branch footprint. Competes with Atlas for the same corporate and retail segments, including takaful-adjacent offerings through the Jubilee group.
• IGI Insurance (International General Insurance): Listed Pakistani general insurer with a multi-line P&C franchise including motor, fire, marine, and engineering products aimed at both corporate and retail customers. Competes with Atlas for the same blue-chip and SME accounts in Pakistan.
• East West Insurance: Pakistani general insurer with a multi-line P&C portfolio (motor, fire, marine, engineering, liability, miscellaneous) and national distribution. Smaller and mid-tier scale makes it a close comparable in size and product breadth to Atlas.

Others

• Pakistani Reinsurance Company (PRCL): National reinsurer of Pakistan, providing reinsurance capacity to domestic primary insurers including Atlas. While not a direct competitor for end-customer premiums, it is a relevant counterparty and comparable from a Pakistan P&C risk-pooling perspective and may shape treaty terms for Atlas's portfolio.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/atlasinsltd
• Facebookfacebook.com/atlasinsuranceltd
• LinkedInlinkedin.com/company/atlas-insurance-limited

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 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 Atlas Insurance