Century Insurance Co. Ltd. Profile

Your TruOsurtAssurance

The Company The Group Lakson Group Companies

Century Insurance Company Limited is part of the Lakson Group of companies, It was incorporated in The Lakson group was founded by Mr. Hasan Ali Karabhai
1985 as a public limited company and is listed on the Pakistan Stock Exchange limited. It commenced in 1954 as a trading concern. Today, if is one of the leading
general insurance business in 1989 and since then, by the grace of The Almighty, the company has business houses in Pakistan generating an annual turnover in
maintained continuous growth. excess of PKR 66 billion, with an asset base of over PKR 82
billion and employing over 13,700 people.
Century Insurance underwrites all classes of business. it has branches in Karachi, Lahore, Islamabad,
Faisalabad, Sialkot and Multan., catering to all sectors of the economy, The Group is well diversified and one of the largest in Pakistan
with a ronge of international partners that include Tetley,
Century Insurance Company Limited is a highly professional and customer centric company that believes Colgate-Palmolive, McDonald’s, Titan and the International
strongly in establishing long-term relationships with its clients and reinsurer5. Besides providing traditional Herald Tribune.
insurance products, the company also provides expert risk management and advisory services.
The Lakson Group is involved in diversified businesses
At Century Insurance we strive to ensure that our clients are fully and comprehensively covered. The including:
protection of our customers’ financial interests is our topmost priority. We believe in promptly responding
to all queries and paying attention to the smallest details. • Detergent, soaps and toothpaste

• A fast food chain

• Internet services and data networking

• International call center

• Paper and board manufacturing

• Financial services

• General insurance

• Printing and packaging

• News publications and broadcasting

• Software development

• Surgical instruments

• Tea

Client
List

CYBERNET Sybrid (Private) Limited Lakson Investments Limited Century Insurance Company Limited

Cybernet is a leading internet and Data Sybrid (Pvt.) Ltd. stands among the premier Lakson Investments is Pakistan’s largest Century Insurance Company Limited commenced
Communication Network Service Provider in business process outsourcing (BPO) and independent asset manager with over $300 million general insurance business in 1989 is a progressive
Pakistan. Our company focuses on providing under management. LI offers investments in Fixed
specialized solutions for different enterprises with technology solution companies maintaining its and customer centric company that believes
origin in Pakistan; serving in three countries; Income, Public Equity, Tactical Asset Allocation, strongly in establishing long-term relationships with
end to end solutions. Pakistan, UAE and USA, catering a diverse array of Private Equity and Venture Capital Funds etc.
its clients and re-insurers.
customers.

Lakson Business Solutions Limited Ice Animations The Daily Express Merit Packaging Limited Colgate-Palmolive Company Ajinomoto Lakson Pakistan Pvt. Ltd

Lakson Business Solutions (LBS) is a Ice Animations, the largest VFX and Pakistan’s most widely circulated Urdu- Merit Packaging is a well-known name PakistanColgate-Palmolive (Pakistan) Ajinomoto Lakson Pakistan (Private) Limited
promising IT solution provider of Pakistan animation house in Pakistan; with over language newspapers, published by in the printing and packaging industry of Limited is engaged in the manufacture and is a joint venture between Ajinomoto Co.
a decade worth of experience, and a Pakistan since the last three decades. sale of detergents, personal care and other Inc. Japan which produces seasonings,
with strong emphasis on customer decorated portfolio comprises of Hollywood Century Publications simultaneously printed Merit serves its customers Offset/Flexible related products. The Company’s principal
needs, providing them with IT solutions and distributed from 10+ cities in Pakistan. classes of products include Personal Care, cooking oils, TV dinners, sweeteners, amino
that not only cater to their current needs feature films, International television packaging requirements as well as acids, and pharmaceuticals and Lakson
but are also designed to handle future commercials and animated television shows. requirements for POS material, with the Home Care and Others. Group, Pakistan leading business group.
help of a dedicated team skilled employees.
enhancements.

Lakson Business Solutions Limited Century Paper and Board Mills McDonald’s Pakistan Princeton Travels (Pvt)

The Express Tribune is a major daily English- Century Paper & Board Mills Limited started McDonald’s 53 restaurants in major cities of Princeton Travels (Pvt) Limited & Tours was
language newspaper based in Pakistan and commercial production in 1990 and established Pakistan; where everyday millions of Pakistanis incorporated in 1992 and is an IATA accredited
country’s only internationally affiliated newspaper, in its name as major producer of quality Packaging place their trust in McDonald’s to provide them with travel agency and active member of International
partnership with International New York Times. food of a very high standard, quick service and travel forums like ASTA, PATA, UFTAA & TAAP.
boards in the country. It is Market Leader in
Packaging Boards in particular and is considered value for money.

as most Preferred Supplier to Printing and
Packaging Industry.

Products & Fire
Services Insurance

Fire Insurance Marine Insurance Motor Insurance Your corporate offices, factories and facilities are the primary sources of your income and
revenue. Century Insurance understands the importance and value of your business property and
operations. So we will work with you to help you prevent losses, protect what matters and help you
stay in business. Property insurance solutions include:

• Fire and Allied Perils

• Consequential Loss

• Property All Risk

• Comprehensive Machinery Insurance

• Terrorism Insurance (Property insurance policies in Pakistan now exclude Terrorism including any Riot & Strikes
resulting from a terrorist act. These are now covered under a separate Terrorism policy).

Engineering Accident and Travel Insurance
Insurance Health Insurance

Takaful Miscellaneous
Operations Insurance

Motor
Insurance

Private Car Insurance Commercial Vehicle Insurance

People love their cars, but insuring them can be a Whatever your business, if you have your
chore. At Century Insurance, with fast, fair and convenient own commercial vehicles we know how
services and cover you can depend on, we’ll be there for important these vehicles are to your business.
you when it matters. We settle bills with a very wide network No matter how many commercial vehicles you
of repairers directly – so no waiting for that check in the have, we’ve got a plan to suit you. From fleets of
mail. And because we don’t force you to use any particular trucks to just one or two pickups, we can tailor the
repairer you are free to take your car to the workshop of your right insurance package for you. If you are insuring
choice. You may opt for comprehensive coverage including many vehicles, our fleet policy can cover them all in a
own damage, theft and third party legal liability or just third single policy.
party legal liability coverage to meet the requirements of law.

Marine If you would like to have the added assurance of a good
Insurance vehicle tracking service, substantial discounts are available
on the premium you pay. Or if you would like us to arrange the
We offer our clients tailored solutions for their tracking service for you we can do that too as a complimentary
international and domestic marine exposures. The two service at economical rates.
standard product lines are:
addition we can cover ship beaching risks for the ship
• Marine Cargo including Inland Transit breaking industry as well as Fire and Allied Perils for
the beached vessel.
• Marine Hull
Losses occurring anywhere in the world are promptly
Marine cargo insurance covers the risks of physical investigated and equitably settled through our
loss or damage to goods and merchandise while in international claims settling agents.
transit by any method of conveyance anywhere in the

world. Inland Transit policies cover transit by road
and/or rail within the country.

Marine hull provides coverage for all types
of vessels and their machinery while
navigating anywhere in the world. In

In today’s competitive marketplace, employers know We also work closely with the Human
that their true competitive advantage frequently lies in Resource department of our clients to
their human capital. A good employer will therefore always make sure that they are fully informed of
try to take care of its employees. One of the key variables developments involving major hospitalizations
in an employee’s benefit structure is the health insurance of their employees or of the dependents of their
provided by the employer. employees. We also pay extra attention to ensure that
all paperwork, health cards, payments, etc are made
Century Insurance provides the best possible corporate health correctly and on time. With all of the topmost hospitals
insurance packages available in the market. We care for your on our panel we ensure a smooth and cashless service
employees and make every effort to ensure that they receive the for your employees so that they are not made to fret and
best possible care based on the benefits chosen for them by worry about these matters during the difficult time they may
their employer. Whether they need expert advice and guidance be facing on account of either their own hospitalization or
related to medical admissions and treatment or whether they just that of a loved one.
want a better understanding of the benefits available under their
policy, we provide service with a smile and a caring attitude. We Personal Accident provides 24/7 worldwide cover for
liaise closely with the hospitals to ensure that your employees accidental bodily injury to the insured person resulting in death
receive the care and treatment that they need in the most timely or permanent disablement.
and efficient manner possible.

Engineering • Contractor’s Plant & Equipment (CP&E).
Insurance
• Erection All Risk (EAR) for plant and machinery in the
Our qualified engineers can cater to all of your course of erection.
engineering insurance needs. At Century Insurance, we
can help by sharing insights, insurance solutions and • Machinery Breakdown covers sudden and
risk engineering services. From construction related unforeseen loss or damage to machinery.
insurances to erection of machinery to electronic
equipment, we have the right solution for you. With • Advance Loss of Profits (ALOP) also known as
us, you’ll work with specialized underwriting, risk Delayed Startup to cover loss of gross profits arising
engineering and claims professionals who understand from a CAR or EAR loss.
the challenges you face and can deliver quality service
when you need it. • Electronic Equipment Insurance for computers
and other electronic equipments.
Engineering insurance solutions include:
• Deterioration of stock.
• Contractor’s All Risk (CAR) insurance offers
comprehensive protection for contract • Boiler and Pressure Vessels.
works, construction plant and equipment
as well as for Third Party claims.

MIinscseulrlaannecoeus

This is a broad category and includes any insurance • Workmen’s Compensation provides
product or service that does not fall into any of the protection for accidents to workmen
above categories. The most important of these include in your employ resulting in death or
the following: disablement that may occur in the course of
their employment.
• General or Public Liability to protect you and/or your business
against liability to third parties for accidental bodily injury • Cash on Premises indemnifies you and/or your
or property damage, such as when they come upon your business for cash belonging to the business that
business premises. may be stolen from the business premises consequent
upon forcible entry or under the threat of force.
• Professional Indemnity to protect you and/or your business
against liability that may be incurred in the course of discharging • Cash in Transit indemnifies you and/or your business for
your professional duties, whether you are a doctor, lawyer or loss of cash stolen forcibly during transit between specific
architect or in any other profession. points during normal business hours.

• Product Liability to protect you and/or your business against • Fidelity Guarantee indemnifies you and/or your business
any liability for injury or damage that may arise from the use for loss sustained on account of fraud or theft conducted by
of a defective product that your company may have provided. your employees.

Travel • Employer’s Liability provides protection to you and/ or your
Insurance business against liability to your employees for bodily injury or
property damage occurring in the course of
Whether you are travelling for business or pleasure, their employment.
unfortunate surprises can occur either before or during
your trip. Medical emergencies or accidents can result Century Insurance provides the best available travel
in costly trip cancellations or medical bills leaving the insurance plans for you and your family, to suit every
traveler stranded in an unfamiliar country. Children may budget and need. We also have special plans available
be left unattended with perhaps no one to accompany for senior citizens no matter where in the world they
them on their return back home. Loss of baggage or may be planning to travel to. Claims can be paid
mere flight delay may also result in unexpected and directly to hospitals in most instances, anywhere in the
unbudgeted expenses. Our 24 hour, 7days of the world. So the next time you travel, give up your worries
week hotline will be available to assist you no matter and get the best travel insurance solution from Century
Insurance.
where you are or what language you are comfortable
communicating in.

OpTearkaatfiuolns

Century Window Takaful Operations based on
Takaful Rules 2012 of Security Exchange Commission
of Pakistan (SECP).

Century Window Takaful commence its operation in
August, 2017 and is offering General Takaful products to
provide cover in all classes of General Takaful.

Century Window Takaful serves the nation through its
branches all over Pakistan.

Century Window Takaful has re-rekaful arrangements with A-
rated Re-takaful companies, like Labuan Re as a leader
with 50% shares

Claims Risk
Service Management

For us, every customer claim is an opportunity to Working closely with you, our underwriters and risk
deliver when it matters and to differentiate the Century engineers can identify and control risk in a broad
Insurance customer experience. As soon as you report range of environments, both in the manufacturing and
a claim, our team will come into action, delivering service sectors. With Century Insurance’s specialized
swift and transparent claims assistance wherever underwriting knowledge, experienced risk assessments
you need it. Our team consists of experienced claims and excellent claims handling, we’ll be there to support
professionals dedicated to fairness and transparency you should a claim occur. Our Risk Engineers identify,
assess and guide you to improve risks helping
in the handling of all claims. you reduce losses and the overall risk to your
business.
Combining international experience and local
knowledge, we will partner with you to give you
the assistance you need while helping you
to reduce your overall claim costs over
time.

VaClourees InCfoorrpmoaratitoen

ETHICAL IN ALL IOntUegRrityACTION Board of Directors External Auditors
Mr. Iqbal Ali Lakhani - Chairman M/s. KPMG Taseer Hadi & Co.
ARE Humility & Mr. Amin Mohammed Lakhani Chartered Accountants
WE Ms. Anushka Zulfiqar Lakhani
E FOR EXCELLENCE Mr. Tasleemuddin Ahmed Batlay Share Registrar
SCompassion Mr. A. Aziz H. Ebrahim (upto February 02, 2018) M/s. FAMCO Associates (Pvt) Ltd.
WE DELIVER CUSTOMER Mr. Mohammad Hussain Hirji - Chief Executive 8-F, Near Hotel Faran, Nursery,
Customer Change Mr. Sadrudin Ismail Mohamed Block-6, P.E.C.H.S., Shahra-e-Faisal,
Centric Innovation Karachi.
Sense of Advisor Tel: (021) 34380101-2
Urgency Mr. Sultan Ali Lakhani Fax: (021) 34380106
Email: [email protected]
Chief Financial Officer Website: www.famco.com.pk
Mr. Sabza Ali Pirani
Bankers
Company Secretary Al Baraka Bank (Pakistan) Limited
Mr. Mansoor Ahmed Bank Alfalah Limited
Habib Bank Limited
Shariah Advisor Habib Metropolitan Bank Limited
Mufti Muhammad Shakir Siddiqui MCB Bank Limited
Meezan Bank Limited
Audit Committee NRSP Microfinance Bank Limited
Mr. Sadrudin Ismail Mohamed - Chairman Standard Chartered Bank (Pakistan) Limited
Mr. Amin Mohammed Lakhani Telenor Microfinance Bank Limited
Mr. Tasleemuddin Ahmed Batlay United Bank Limited

Continuous Investment Committee Registered & Corporate Office
S Improvement Mr. Iqbal Ali Lakhani - Chairman Lakson Square, Building No. 2, Sarwar Shaheed
AT Teamwork Mindset STRIV Mr. Tasleemuddin Ahmed Batlay Road, Karachi-74200.
Mr. Mohammad Hussain Hirji
CTION WE Mr. Sabza Ali Pirani Head Office
11th Floor, Lakson Square, Building No. 3,
Ethics, Human Resource & Remuneration Sarwar Shaheed Road, Karachi-74200.
Committee
Mr. Sadrudin Ismail Mohamed - Chairman Website: www.cicl.com.pk
Mr. Amin Mohammed Lakhani UAN: 111-111-717
Mr. Tasleemuddin Ahmed Batlay NTN: 0710008-6
Mr. Mohammad Hussain Hirji

I S FA

Balance Sheet PKR In thousands Profit & Loss Statement PKR In thousands

Classification FY 2017 FY 2016 FY 2015 Classification FY 2017 FY 2016 FY 2015
Assets Income from Operations
Current Assets 361,781 408,621 173,451 593,051 659,251 515,005
1,327,374 1,496,035 1,682 Net premium revenue (246,956) (390,450) (299,836)
Cash and bank deposits Net claims (157,327) (142,203) (112,009)
Investments 751,109 485,675 489,877 Management expenses
Other Current Assets 2,440,264 2,390,330 665,011 Net commission 23,240 21,999 25,101
Underwriting Results
Non-Current Assets 332,513 270,353 1,995,348 Investment & Other Income 212,008 148,596 128,261
2,772,777 Management expenses
Total Assets 2,660,683 2,660,358 Profit Before Tax 156,674 234,069 636,904
587,099 Taxation - net (135,088) (118,003) (115,906)
Liabilities 401,615 544,950 585,965 Profit After Tax
Underwriting provisions 394,919 318,220 233,593 264,663 649,260
Other Liabilities 16,348 Earnings Per Share (Rs.)
Unclaimed dividend 1,005,062 11,498 2,283 (93,587) (78,795) (10,947)

Total Liabilities 502,968 951,367 906,468 140,006 185,867 638,313
891,723
Capital & Reserves 373,024 457,244 457,244 2.78 3.70 12.69
Paid-up share capital 1,767,715 879,048 923,623
Retained earnings 2,772,777 373,024 373,024
Reserves
1,709,316 1,753,890
Total Capital & Reserves / Shareholders’ Equity
2,660,683 2,660,358
Total Liabilities & Shareholders’ Equity

Cashflow Statement Summary Gross premium - by class of business

PKR In thousands PKR In thousands

Classification FY 2017 FY 2016 FY 2015 Classification FY 2017 FY 2016 FY 2015

Operating cash flows 328,904 290,036 252,942 Gross written premium 329,608 322,636 301,495
Underwriting activities (398,167) (270,395) (242,795) Fire 173,199 162,830 154,128
Other operating activities Marine and Aviation 281,536 273,000 197,118
(69,264) 19,641 10,147 Motor 201,528 189,441 311,428
Total Operating Cash flow Personnal Accident & health
133,298 29,393 27,885 Miscellaneous 63,852 60,695 70,674
Investment activities (1,585,728) (3,439,631) (2,576,929)
Profit / dividend received 1,560,294 3,879,278 2,551,494 Total 1,049,724 1,008,602 1,034,842
Payments for investments
Proceeds from disposal of investments (10,091) (30,609) (19,458)
Fixed capital expenditure 4,290 4,343 3,184
Proceeds from disposal of fixed assets
102,063 442,775 (13,823)
Total Investment activities
(79,639) (227,346) (68,078) Fire 31%
Financing activities Marine and Aviation 17%
Dividends paid (79,639) (227,346) (68,078) Motor 27%
Personnal Accident & health 19%
Total Financing activities (46,840) 235,069 (71,753) Miscellaneous
407,821 172,751 244,505 6%
Net Cash inflow / (outflow) from all activities 360,981 407,821 172,751
Cash at the beginning of the period
Cash at the end of the period

Key Financial Ratios Reinsurance Treaties

Classification PKR In thousands Century Insurance has strong treaty reinsurance arrangements with the Ines! rated reinsurers
in the international market who have full failh and confidence in its underwriting practices, The
Financial Ratios FY 2017 FY 2016 FY 2015 Company’s reinsurance treaties ore led by SCOR RE, rated ‘AA-’ by Standard & Poor’s.
Return on Equity (%)
Earnings per share (Rs.) 7.9 10.9 36.4 REINSURERS RATING Rating Agency Name
Dividend Payout (%) 2.8 3.7 12.7 SCOR Re AA- S&P
Combined Ratio (%) 62.9 47.3 39.4 Korean Re A S&P
Price Earning Ratio (Times) 87.2 95.4 97.6 Labuan Re A-
9.8 8.0 2.0 Trust Re A- A.M.BEST
Share Statistics PRCL AA S&P
Number of Issued Shares (in ‘000) 503.0 457.2 457.2
Break-up Value per share (Rs.) 35.1 37.4 38.4 JCR-VIS
Market Price Per Share (Rs.) 27.3 29.8 25.2
Cash Dividend (%) 27.3 29.8 25.2

Network

Head Office Registered and Corporate Office
11th Floor, Lakson Square, Building # 3, Lakson Square, Building # 2,
Sarwar Shaheed Road, Karachi-74200. Sarwar Shaheed Road,
UAN: (021) 111-111-717 Fax: (021) 35671665 Karachi-74200.
Email: [email protected] Tel: (021) 38400000 Fax: (021) 35683410
Karachi Clifton Office
Office # 504-505, 5th Floor, Marine Point, Karachi Lakson Square Office
DC 1, Block-9, Clifton, Karachi. 10th Floor, Lakson Square, Building # 3,
Tel: (021) 35309234-36 Fax: (021) 35309237 Sarwar Shaheed Road, Karachi-74200.
Tel: (021) 111-111-717 Fax: (021) 35689518
Islamabad Office
Office # 6. Kashmir Plaza, Jinnah Avenue, Shahrah e Faisal Office
Blue Area, Islamabad. Ebrahim Estates, 2nd Floor,
UAN: (051) 111-111-717 Fax: (051) 2870228 D/1 Union Commercial Area,
Sialkot Office Block 7 & 8, Shahrah e Faisal, Karachi.
1st Floor, Karim Plaza, Iqbal Town, Tel: (021) 34529155-7, 34310723-4
Defence Road, Sialkot. Fax: (021) 34310725
UAN: (052) 111-111-717 Fax: (052) 3241703
Lahore Regional Office
1st Floor, 14 Ali Block, New Garden Town, Lahore.
UAN: (042) 111-111-717 Fax: (042) 35911176

Faisalabad Office
2nd Floor, Legacy Tower, Kohinoor City,
Faisalabad.
UAN: (041) 111-111-717 Fax: (041) 8554453

Multan Office
Office # 55-57,1st Floor, Business City Plaza,
Bosan Road, Multan.
Tel: (061) 6211241-43 Fax: (061) 6211244

Website: www.cicl.com.pk

UAN: 111-111-717
Website: www.cicl.com.pk