Pakistan: Jubilee Life Insurance's Window Family Takaful achieves PKR1 bln milestone

Source: Middle East Insurance Review | Feb 2017

Jubilee Life Insurance’s Window Family Takaful, launched in July 2015, has achieved the milestone of PKR1 billion (US$9.5 million) contribution.

Speaking about the achievement, Mr Javed Ahmed, CEO and Managing Director, Jubilee Life Insurance, said that the SECP’s decision to start takaful window operations was excellent for the industry as “it has helped us increase the consumer base”.

“Today, we stand even more determined to excel and with our focused strategy covering all growth areas resulting in continued success for the organisation,” said Mr Ahmed, adding that the company has been performing well with a growth rate of 41% in the top line and 70% in the bottom line. He said that Jubilee Life pioneered the establishment of the bancassurance channel of distribution and excelled it. The same channel was used for its window takaful operations to reach out to the masses and enhance penetration.

PKR1 = US$0.01

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