Jubilee Life Insurance

Jubilee Life Insurance Company, commonly known as Jubilee Life, (Urdu: جوبلی زندگی بیمہ) is a Pakistani life insurance company which is a subsidiary of Swiss for-profit organization Aga Khan Fund for Economic Development.[1] It is based in Karachi, Pakistan.

Jubilee Life Insurance
TypeSubsidiary
PSX: JLICL
IndustryInsurance
Founded29 June 1995 (1995-06-29)
HeadquartersKarachi, Pakistan
ParentAga Khan Fund for Economic Development
Websitewww.jubileelife.com

It is the largest and the most profitable among private insurance companies in Pakistan.[2]

History

The company was founded in 1995 as Commercial Union Life Assurance Company and was later renamed as New Jubilee Life Insurance Company Limited.[3][4]

In 2002, the Aga Khan Fund for Economic Development acquired the shares from CGU International Insurance plc.[5]

In 2011, the company rebranded from New Jubilee Insurance to Jubilee Life Insurance.[3]

In 2015, Jubilee Life entered Takaful insurance market in Pakistan.[6][4]

On July 29, 2020, Jubilee Life was awarded the Effie Award in the Insurance Category.[7] This is the first time any insurance company has won the award in this category.[7][8]

References
  1. "Profits of life insurance companies rise 28.5%". The Express Tribune. July 23, 2016.
  2. "Insurance premium: 'Proposed tax will hurt insurance sector'". The Express Tribune. June 16, 2016.
  3. D’Souza, Zoha Habib | Vanessa (August 28, 2018). "A matter of life and death". Aurora Magazine.
  4. Hussain, Dilawar (October 10, 2016). "Private life insurance companies end SLIC dominance". DAWN.COM.
  5. "AKFED to acquire CGU shareholding". DAWN.COM. 2002-09-18. Retrieved 2021-06-21.
  6. "Pakistan's Islamic insurance industry landscape set for makeover". The Express Tribune. September 6, 2015.
  7. admin (2020-07-29). "Jubilee Life wins prestigious Effie Award in the Insurance Category". News Update Times. Retrieved 2020-07-29.
  8. Report, Recorder (2020-07-30). "Jubilee Life wins Effie Award in Insurance Category". Brecorder. Retrieved 2020-07-30.
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