THE UNITED INSURANCE COMPANY OF PAKISTAN LIMITED

In 1959, United Insurance Company was incorporated as a public limited company, under the leadership of Mr. Fakhruddin Valika, who held 20% equity from the Pakistan Insurance Corporation (now Pakistan Reinsurance Company). Mr. Valika, a prominent businessman with interests in textiles, shipping, and banking, served as Chairman until his death in 1972. In 1960, The company was listed on the Karachi Stock Exchange.  During 2007 – 2012 under leadership of Mian M.A. Shahid United Insurance expanded into United International Group, adding subsidiaries in agro-services, software, and Takaful operations in Abu Dhabi.

Milestones:

• In year 2014, United Insurance launched its Window Takaful Operations after getting approval from SECP.
• In year 2025, highest premium in history of United Insurance achieved i.e., PKR 13.026 billion in global gross written premium .
• Maintains AA⁺ insurer financial strength ratings from PACRA and JCR-VIS .

Products offered by UIC 

Health Insurance: It provides financial protection plan that covers medical expenses, that includes hospitalization, doctor visits, medications, and last but not the least surgeries. It helps the customer to manage healthcare costs by covering for unexpected illnesses, accidents, or routine medical care.  UIC provides corporate as well as family health coverage plans.  It has more than 350 hospitals on its panel that provides cashless facility in case of admission.  Various plans available for individual and families.

Motor Insurance:  It provides financial protection against losses or damages to vehicles occurred due to external means such as accidents, theft, natural disasters, or third-party liabilities. Under this insurance, personal and commercial vehicles are covered, ensuring security of owners against unforeseen risks.  Comprehensive and Third Party liability coverage for private/commercial vehicles are available. 

Travel Insurance:  It offers financial protection against unexpected events that may occur during trips, whether International or domestic, such as medical emergencies, trip cancellations, lost luggage, or travel delays. It helps travelers manage risks and minimize losses while away from home.

Property Insurance:  Protects physical assets—like homes, offices, or factories against risks such as fire, theft, natural disasters, or vandalism. It helps owners recover financially from damage or loss that occurred due to perils covered under the policy.

Engineering Insurance:  It covers risks related to construction projects, machinery, and technical equipment. It includes protection for contractors, plant and equipment, machinery breakdown, and installation or erection of structures. 

Marine Insurance:  covers loss or damage to ships, cargo, and goods in transit—whether by sea, air, or land—protecting businesses from risks like accidents, theft, or natural disasters during transportation.

Aviation insurance:  Provides financial protection for aircraft, passengers, and third parties, covering risks such as crashes, damage to aircraft, and liability for injuries or property damage caused by aviation operations.

Banker’s Blanket Insurance:  It is a specialized policy designed for banks and financial institutions to protect against losses from risks like employee fraud, forgery, theft, counterfeit currency, and damage to property—both on premises and in transit. It acts as a financial safety net against internal and external threats to banking operations. 

Crop/Livestock Insurance:  Provides financial protection to farmers against losses caused by natural disasters, diseases, or accidents affecting crops or animals. It helps ensure income stability by covering risks like floods, droughts, pest attacks, and livestock illness or death . 

Takaful Products:

All products as per Sharia-compliant across health, motor, and crop segments. 

Claims Handling and Customer Support 

Digital-First Process:* 

• Online Portals:* Policy purchase, renewal, and verification via web/mobile apps .
• Automated Claims:* Motor accident reports and health claims initiated through digital forms.

Operational Support:

• 24/7 Assistance: Dedicated helpline and WhatsApp support.
• Documentation: Product-specific claim forms (e.g., health, burglary, crop) available online.
• Efficiency Metrics: Processed PKR 4.346 billion in claims across 365,030+ policies.

Network Strength:

• 147 branches nationwide
• Partnerships with 2,000+ doctors and major hospitals .

Reinsurance:

Contracts with global leaders (Swiss Re, GIC Re-Takaful) enabling single-risk coverage up to PKR 1 billion. 

Strategic Direction 

• Technology Investments: ISO 27001:2022 certification;
• In-house software development via United Software & Technologies.
• Sustainability Initiatives:* Corporate social responsibility (CSR) programs in agriculture and education.
• Global Expansion: UAE presence through Tawasul Insurance LLC .