Security General Insurance Company

What Security General Insurance Company does

Security General Insurance Company (SGI) is a multi-line general insurance company headquartered in Lahore, Pakistan, established in 1996 and operating as a SECP-regulated public limited company. The company underwrites a broad portfolio of ~30+ insurance products organized across motor, travel, fire and property, marine and aviation, engineering, miscellaneous, bonds, liability, crop/livestock, and home insurance categories. SGI serves a diversified customer base segmented into Individual Consumers (home, personal accident, travel), Businesses and Corporations (motor, marine, fire, liability, engineering), Farmers and Agribusiness (crop, livestock), Financial Institutions (bankers blanket, fidelity guarantee), Construction and Engineering firms (CAR, EAR, CPM, machinery breakdown), and Contractors/Suppliers (bid, performance, mobilization, supply bonds). The firmographic profile describes the company as also operating a Shari'ah-compliant Takaful service, though details of the Takaful window's structure are not disclosed.

SGI's revenue model is fundamentally a subscription/recurring model built on annual insurance premiums calculated via quote-based pricing adjusted to risk profile, coverage, and customer type. Distribution combines a self-serve online sales portal (online.sgicl.com) and quote-request channels for retail/SMB customers, with a corporate/B2B field-sales motion and physical branch network for enterprise clients across Pakistan. Reported scale indicators include a PKR 6.1 billion underwritten premium portfolio, a stated 98% client satisfaction rate, and a stated 0% claim rejection rate on eligible cases across multiple product lines.

The underlying technology stack is described generically as an "insurance underwriting and claims processing platform" with no proprietary technology features disclosed. Operational metrics include 24/7 customer support and corporate membership in the Insurance Association of Pakistan. Staffing is sized between 51–100 per firmographic data, with a separate signal reporting 678 team members which likely reflects tied agency and field force when included. No funding rounds, M&A activity, parent company, or subsidiaries are disclosed in the source data.

Name

Security General Insurance Company

Legal name

Security General Insurance Company Limited

Website

https://sgicl.com

Company type

Private

Founded year

1996

Operating status

Operating

Headcount range

51–100 employees

Short description

Security General Insurance Company (SGI) is a Pakistan-based multi-line general insurer, established in 1996, underwriting motor, fire, marine, engineering, liability, bonds, crop/livestock, and home insurance for individuals, businesses, contractors, financial institutions, and farmers through branch and online channels.

Ownership category

akta.pro rank

Product category

General Insurance

NAICS

Direct Property and Casualty Insurance Carriers (524126), Other Insurance Related Activities (52429)

SIC

Fire, Marine & Casualty Insurance (6331), Surety Insurance (6351), Insurance Carriers, Nec (6399)

akta.pro primary industry

Specialty & Excess/Surplus Lines (E&S) (FSAJAMAH)

akta.pro secondary industry

Commercial Package / Business Owners Policies (BOP) (FSAJAMAG)

Keywords

• General insurance products
• Commercial insurance coverage
• Personal insurance solutions
• Marine and aviation insurance
• Engineering and liability insurance

Headquarters

HQ city

Lahore

HQ country

Pakistan

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Revenue model

1. Insurance Premiums: SGI generates revenue primarily through insurance premiums collected from policyholders across various insurance categories including motor, marine, fire, engineering, liability, bonds, crop/livestock, and miscellaneous insurance products.

Pricing tiers

Go-to-market motion4 records

Distribution channels4 records

Marketing channels5 records

Core offering

Security General Insurance Company (SGI) is a multi-line general insurance provider in Pakistan underwriting a comprehensive portfolio of policies including motor, travel, fire and property, marine and aviation, engineering (CAR/EAR/CPM/machinery breakdown), liability (public, employer, D&O, bankers blanket), bonds (bid, performance, mobilization advance, supply), crop and livestock, and home insurance for individuals, businesses, farmers, and financial institutions. The company also operates a Shari'ah-compliant Takaful service.

Product overview

Security General Insurance Company (SGI) offers a comprehensive portfolio of insurance products across multiple categories including Motor, Travel, Fire and Property, Marine and Aviation, Engineering, Miscellaneous, Bonds, Liability, Crop and Livestock, and Home Insurance. The company operates as a multi-line insurer providing both commercial and personal insurance solutions through a network of branch offices. SGI's product portfolio includes specialized coverage such as Contractors All Risks (CAR), Erection All Risk (EAR), Directors & Officers Liability, Bankers Blanket, and various bond insurance products. The company positions itself with a 25+ year track record, PKR 6.1 billion premium portfolio, and 98% client satisfaction rate, offering both traditional insurance products and online purchase capabilities.

Differentiator

Problem solved

Functional benefit

Products and services

• Motor Insurance Vehicle insurance protection covering accidents, theft, natural disasters, and third-party liabilities for cars and other vehicles, targeted at vehicle owners across Pakistan.
• Travel Insurance Insurance coverage for travel-related risks including trip cancellation, medical assistance, and personal safety during travel, sold directly through the online sales portal for individual travelers.
• Fire and Allied Insurance Property insurance covering losses due to fire, explosion, and allied perils for residential and commercial buildings, targeted at property owners and businesses.
• Business Interruption Following Fire and Allied Perils Insurance Coverage for lost income and increased costs of working resulting from fire and allied peril disruptions to business operations, targeted at commercial enterprises.
• Comprehensive Machinery Insurance (CMI) Insurance coverage for sudden and accidental damage to machinery and equipment during operation, targeted at industrial and commercial operators.
• Civil Engineering Complete Risk (CECR) Insurance covering civil engineering projects against all risks during construction and installation phases, targeted at contractors and developers.
• Property All Risk Comprehensive property insurance covering all risks of physical loss or damage to buildings and contents, targeted at property owners and commercial entities.
• Terrorism Insurance Insurance coverage for property and business losses resulting from terrorist acts, targeted at commercial and institutional property owners.
• Marine Hull Insurance Insurance protection for vessels, ships, engines, and onboard machinery against maritime risks and collisions, targeted at shipping operators and vessel owners.
• Marine Cargo Insurance Coverage for goods transported by sea, air, road, or rail against loss, theft, and accidental damage during transit, targeted at importers, exporters, and logistics operators.
• Marine Umbrella Insurance Extended liability protection beyond standard marine policies for vessels, cargo, shipping operations, and maritime activities, targeted at shipping companies and maritime operators.
• Aviation Insurance Insurance coverage for aircraft, crew, passengers, and ground operations against aviation-specific risks, targeted at aircraft owners, operators, and aviation businesses.
• Contractors All Risks Insurance (CAR) Construction insurance protecting construction sites, equipment, materials, structures, and third-party liabilities against all risks, targeted at construction companies, contractors, and developers.
• Erection All Risk Insurance (EAR) Insurance covering contractors and project owners against accidents and breakdowns during erection, installation, and commissioning phases, targeted at industrial contractors and project owners.
• Contractor's Plant and Machinery Insurance (CPM) Insurance for heavy construction machinery, contractor equipment, and plant against accidental damage and breakdowns, targeted at construction contractors and equipment operators.
• Machinery Breakdown Insurance Insurance coverage for industrial, commercial, and factory equipment against unexpected mechanical and electrical failures, targeted at manufacturers and industrial operators.
• Fidelity Guarantee Insurance Protection against employee dishonesty, fraud, embezzlement, and financial misappropriation, targeted at employers across industries.
• Cash in Safe and Cash in Transit Insurance Insurance protecting businesses against loss of cash stored in safes or transported between locations due to theft or robbery, targeted at retailers and businesses handling cash.
• Plate Glass Insurance Financial protection against accidental glass breakage for commercial properties, retail outlets, and showrooms, targeted at retail and commercial property owners.
• Personal Accident Insurance Insurance providing financial compensation for accidental injury, disability, or death with 24-hour worldwide coverage, targeted at individual policyholders and families.
• Bid Bond Insurance Financial guarantee ensuring bidders will honor bid terms and proceed with contract if awarded, targeted at contractors participating in tenders.
• Mobilization Advance Bond Insurance Insurance protecting advance payments made at the start of projects and ensuring proper utilization of mobilization funds, targeted at contractors and project owners.
• Performance Bond Insurance Financial guarantee that contractors will complete projects according to agreed specifications and contractual terms, targeted at contractors and project owners.
• Supply Bond Insurance

Quantifiable outcome

• 98% client satisfaction rate with insurance event settlements
• +3 more outcomes

Named customers15 records

Segments6 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• Insurance Association of PakistanminorOthersSGI maintains corporate membership in the Insurance Association of Pakistan, the industry's governing body that sets standards and represents insurance companies in Pakistan.

Scale indicators6 records

Recent moves4 records

Expansion highlights4 records

Direct peers

• Takaful Pakistan: Pakistan's leading Shari'ah-compliant Takaful operator offering general and family Takaful products. Directly comparable to SGI's Takaful offering with overlap in faith-based personal and commercial lines.
• Asia Insurance Company: Pakistani multi-line general insurer offering fire, marine, motor, and miscellaneous products. Directly comparable peer in the same regulatory and competitive environment.
• EFU General Insurance: Pakistan's largest non-life insurer offering a broad portfolio of motor, fire, marine, engineering, and liability products. Closest direct peer to SGI given similar multi-line general insurance positioning and Pakistani regulatory environment.
• Jubilee General Insurance: Multi-line general insurer in Pakistan providing commercial and personal lines including motor, fire, marine, and engineering. Comparable in scale and product portfolio to SGI within the same domestic market.
• Habib Insurance Company: Established Pakistani general insurer offering motor, fire, marine, and engineering products. Comparable in product mix and operating geography to SGI.
• Adamjee Insurance Company: Long-established Pakistani general insurer covering motor, marine, fire, engineering, aviation, and miscellaneous lines. Directly comparable in product breadth, distribution model, and target customer segments.
• Pak-Qatar Family Takaful: Takaful operator in Pakistan offering Shari'ah-compliant family and general Takaful solutions. Comparable to SGI's Takaful line with overlapping target market in faith-based insurance demand.

Broad incumbents

• Allianz SE: Global P&C and life insurer with broad product offerings including commercial, specialty, and personal lines. Relevant as a broad incumbent benchmarking global standards for underwriting, claims, and specialty products SGI offers.
• State Life Insurance Corporation of Pakistan: State-owned Pakistani insurance carrier operating in life and some general lines. Overlaps with SGI in the broader Pakistan insurance market though primarily a life insurer; comparable as a large domestic incumbent with similar regulatory exposure.

Others

• Pakistan Reinsurance Company: National reinsurer providing reinsurance capacity to Pakistani primary insurers including SGI. Relevant as a counterparty that determines SGI's catastrophe capacity and as a benchmark for industry capital structure.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/sgiinsurance
• LinkedInlinkedin.com/company/security-general-insurance-co-ltd-

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 Security General Insurance Company