New Jubilee Life Insurance Company Limited (NJI Life) is a subsidiary of the Aga Khan Fund for Economic Development (AKFED), Switzerland. It was incorporated in Pakistan on 29 June 1995 as a Public Limited Company under the Companies Ordinance 1984. Its share are quoted on the Karachi Stock Exchange. The Company started its business on 20 June 1996. Paid Up Capital of the Company is Rs. 627 million.
AKFED is active in the fields of Industry, Financial Services, Tourism Development and Infrastructure in South and Central Asia and sub-Saharan Africa. Some of the sister concerns of NJI Life in Pakistan are:
The Aga Khan University Hospital
The Aga Khan Health Services
Tourism Promotion Services (Chain of Sarena Hotels)
First Micro Finance Bank Limited
Habib Bank Limited
NJI Life enjoys competitive edge over the players in the market because of the highest paid-up capital amongst public listed companies in Pakistan, highest ratio of customer loyalty among all life insurance companies, uniquely designed plans for each individual customer, complete range of products for individual and corporate customers and backing of world's largest reinsurance companies.
NJI Life is engaged both in individual life insurance and corporate insurance business. Individual life insurance business is procured through two channels, i.e. through Company's own enthusiastic Branch Operations and through alternative distribution channels such as Bank assurance. NJI Life is proud to be the pioneer of Bank assurance in Pakistan. NJI Life is also the pioneer of many credit life insurance schemes prevalent in Pakistan.
Within a decade, NJI Life has been able to make over 35,000 individual customers and over 650 corporate customers covering over 500,000 lives in total.
NJI Life's presence in Pakistan is virtually in every major city with multiple branches at many locations.