UBL Insurers

What UBL Insurers does

UBL Insurers Limited is a Pakistan-based general insurance company founded in 2006 as a wholly-owned subsidiary of United Bank Limited (UBL), one of Pakistan's largest commercial banks. The company offers a comprehensive portfolio of 10+ insurance products across personal lines (Motor, Health, Travel, Personal Accident, Home) and commercial lines (Fire & Property, Marine, Engineering, Crop & Livestock, Miscellaneous), alongside a Shariah-compliant General Takaful Window operating under the Wakalah-Waqf model with independent Shariah Advisor oversight.

The business operates a digital-first technology platform supporting online quoting with advisor callback within one business day, digital claims submission with live tracking, and a 256-bit SSL-encrypted policy verification portal. Distribution is omnichannel: 30+ physical branches across Pakistan (Karachi, Lahore, Islamabad, Multan, Faisalabad, Hyderabad, Peshawar, Sukkur, Rahim Yar Khan, Dera Ghazi Khan), phone and WhatsApp support, online self-service, and cross-sell through UBL's bank branch network. A 350+ panel hospital and workshop ecosystem supports cashless claims, with the company reporting a 95% motor claims approval rate within 15 days.

Revenue is generated through recurring insurance premiums and Takaful contributions collected upfront at policy inception and renewal, with annual billing and quote-based underwriting. The company targets both individual consumers (500,000+ customers served) and commercial clients, is regulated by the SECP under the Insurance Ordinance 2000, and holds a VIS Credit Rating of AA+ (Stable). UBL Insurers is led by CEO Mr. Sharjeel Shahid (a digital banking transformation veteran with prior leadership at Barclays, Standard Chartered, and UBL) and Chairman Mr. Mansoor Zaidi (also CFO of UBL), with board representation from UBL and the UK-based Bestway Group.

Name

UBL Insurers

Legal name

UBL Insurers Limited

Website

https://ublinsurers.com

Company type

Private

Founded year

2006

Operating status

Operating

Headcount range

101–250 employees

Short description

UBL Insurers is a Pakistan-based general insurance subsidiary of United Bank Limited offering motor, health, travel, fire, marine, engineering, crop & livestock, and Shariah-compliant Takaful products to 500,000+ individual and commercial customers via 30+ branches, a digital platform, and UBL cross-sell channels.

Ownership category

akta.pro rank

Headquarters

HQ city

Karachi

HQ country

Pakistan

HQ region

Asia

Offices25 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Revenue model

1. Insurance Premiums: Collection of insurance premiums from personal and commercial lines including Motor, Health, Travel, Personal Accident, Fire & Property, Marine, Engineering, and Crop & Livestock insurance products. Premiums are collected upfront at policy inception and renewal.
2. Takaful Contributions: Shariah-compliant insurance contributions collected under Wakalah-Waqf model where participants pool contributions (Ta'awun) treated as donations (Tabarru') to form a Waqf fund for claims settlement. Transparent operations with segregated participant and operator funds.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels5 records

Core offering

UBL Insurers is a Pakistani general insurance company offering a comprehensive suite of personal lines (motor car, motor bike, health, travel, personal accident, home) and commercial lines (fire & property, marine, engineering, crop & livestock, miscellaneous) insurance products, alongside Shariah-compliant Takaful offerings. The company distributes these products through a 30+ branch nationwide network, UBL bank cross-sell channels, and digital self-service platforms including online quoting, policy verification with 256-bit SSL encryption, and claims tracking.

Product overview

UBL Insurers is a general insurance company offering a comprehensive portfolio of 10+ insurance products across personal and commercial lines. The portfolio includes Motor, Health, Travel, Personal Accident, Fire & Property, Marine, Engineering, and Crop & Livestock Insurance for conventional coverage, alongside a dedicated Takaful sub-brand providing Shariah-compliant alternatives under the Wakalah-Waqf model. The company operates through a digital-first approach, enabling customers to obtain instant quotes, file claims online, and verify policies through a 256-bit encrypted digital verification system. With 350+ panel hospitals and workshops and 30+ branches nationwide, the product ecosystem is designed for both individual consumers seeking personal coverage and businesses requiring commercial insurance solutions.

Differentiator

Problem solved

Functional benefit

Quantifiable outcome

• 95% of motor claims resolved within 15 days
• +2 more outcomes

Named customers1 record

Segments3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

Feature3 records

Partnerships

Three partnerships are on record, tiered core.

• Independent Shariah AdvisorcoreOthersAll Takaful operations are supervised by an independent Shariah Advisor who reviews and approves all Shariah-compliant products and processes to ensure compliance with Islamic finance principles including Wakalah-Waqf model, Ta'awun (mutual cooperation), and Tabarru' (donation).
• SECP (Securities and Exchange Commission of Pakistan)coreOthersUBL Insurers is regulated by SECP under the Insurance Ordinance 2000. SECP oversees compliance, investor protection, market integrity, and ensures the company operates within regulatory frameworks.
• Panel Hospitals and WorkshopscoreOthersNetwork of 350+ panel hospitals and workshops across Pakistan providing cashless claims settlement for health and motor insurance customers. These partnerships enable efficient claims processing and customer service.

Scale indicators8 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Adamjee Insurance: Pakistan's oldest general insurer and one of the largest, providing fire, marine, motor, and miscellaneous coverage. Directly competes with UBL Insurers across core P&C lines and corporate accounts with comparable nationwide distribution.
• Habib Insurance: Pakistani general insurer providing motor, fire, marine, and miscellaneous coverage. Comparable to UBL Insurers as a domestic multi-line general insurance competitor with overlapping product mix and target segments.
• EFU General Insurance: One of Pakistan's largest and oldest general insurers, offering motor, fire, marine, health, and engineering coverage. Directly comparable to UBL Insurers as a multi-line P&C carrier in the same domestic market with overlapping product breadth and distribution approach.
• TPL Insurance: Pakistan-based general insurer focused on motor and health coverage with a digital-first approach. Comparable to UBL Insurers in core motor/health lines and direct-to-consumer distribution, and a relevant counterpoint on digital customer experience.
• Jubilee General Insurance: Major Pakistani general insurer offering motor, health, fire, marine, and miscellaneous lines. Closely comparable to UBL Insurers in product portfolio, branch footprint, and target customer segments across both personal and commercial lines.
• Askari General Insurance: Pakistani general insurer affiliated with the Askari banking group (Army Welfare Trust), offering motor, health, fire, marine, and engineering products. Comparable to UBL Insurers as a bank/financial-group-affiliated general insurer with similar multi-line positioning.
• Alfalah Insurance: Pakistani general insurer affiliated with Bank Alfalah, offering motor, health, and commercial lines. Most analogous to UBL Insurers as a commercial-bank subsidiary insurer leveraging parent's distribution — same bank-insurance business model in the same market.

Broad incumbents

• Pakistan Reinsurance Company: State-affiliated reinsurer and the largest domestic reinsurer in Pakistan. Comparable to UBL Insurers as an incumbent insurance market participant that interacts with UBL Insurers as a reinsurance counterparty and sets market capacity terms.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks4 records

Key highlights7 records

Customer concentration

• Xx.com/ublinsurers
• Facebookfacebook.com/UBLInsurers
• LinkedInlinkedin.com/company/ubl-insurers

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

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 UBL Insurers