Frequently Asked Questions

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Q 1. When was AGICO founded?

AGICO was incorporated by the Securities and Exchange Commission of Pakistan on 12th April 1995. It commenced its operations from 20th july 1995.

Q 2. In which sector does AGICO operate?

We operate in insurance sector. AGICO is offering non-life insurance services through our 19 branches located in all major cities of Pakistan.

Q 3. Which group is AGICO part of?

We are a subsidiary of the Army Welfare Trust (AWT) Group of Companies.

Q 4. What is the location of AGICO's head office and registered office?

Our Head Office / Registered Office is located at 3rd Floor, AWT Plaza, The Mall, Rawalpindi.

Q 5. Who is on the AGICO’s Board of Directors?

Our Board of Directors is made up of eight members. See the Detail..

Q 6. How many employees does AGICO have?

Our current strength consists of around 400 employees.

Q 7. Who are AGICO's key competitors?

We compete with Atlas Insurance, Habib Insurance, United Insurance, Century Insurance and UBL Insurance.

Q 8. Where can I access the latest company news and business figures?

Key Financial Figures. Click Here...

Q 1. Where can I access the latest Annual Report or Quarterly Report?

Financial Reports . Click Here...

Q 2. Which accounting regulations are the financial statements of the AGICO based on?

We prepare our financial statements in accordance with approved accounting standards as applicable in Pakistan. Approved accounting standards comprise of such International Financial Reporting Standards (IFRS) issued by the International Accounting Standards Board as are notified under the Companies Ordinance, 1984, provisions of and directives issued under the Companies Ordinance, 1984, the Insurance Ordinance, 2000 and SEC (Insurance) Rules, 2002. In case requirements differ, the provisions or directives of the Companies Ordinance, 1984, Insurance Ordinance, 2000 and SEC (Insurance) Rules, 2002 shall prevail.

Q 3. In which currency does AGICO publish its results?

We publish our results in the Pakistani Rupees (PKR).

Q 1. At which stock exchange(s) is AGICO listed?

Our shares are traded on Pakistan Stock Exchange

Q 2. What is the par value of the AGICO share?

The par value of our share is Rs. 10 per share.

Q 3. How many shares are there currently?

Our paid up share capital consists of 54,368,134 shares.

Q 4. When did the last cum-rights capital increase take place at AGICO?

The last cum-rights share issue took place in July 2016.

Q 5. What categories of share has AGICO issued?

AGICO has only issued ordinary shares so far.

Q 6. How many shareholders does AGICO have?

As at 30 September, 2016, our shareholders stand at 1,920.

Q 7. Who are AGICO’s biggest shareholders?

Army Welfare Trust holds 59.18% shares totaling 32,174,395.

Q 8. When was AGICO first listed on a stock exchange and at what price?

Our first share listing was on 10th March 1996 at par value of Rs. 10 per share.

Q 1. What is Corporate Governance?

Questions regarding corporate management, control and transparency are summarized under "Corporate Governance". A company's corporate governance structure is determined by a varied regulatory framework that is shaped by statutory requirements, market self-control mechanisms and company-specific principles.
Essential elements of good Corporate Governance are:

  • open and transparent communication
  • absolute respect for the interests of shareholders
  • efficient cooperation of the Board of Management and Supervisory Board Corporate Governance.

Q 2. What is the Code of Corporate Governance?

The Corporate Governance Code issued by the Securities and Exchange Commission of Pakistan in 2012, summarizes the main statutory regulations for the management and supervision of local listed companies.
Recently, a dedicated Code of Corporate Governance for Insurers, 2016 has been introduced which, in addition to the requirements of the Code of Corporate Governance, 2012, requires all life and non-life insurance companies to follow the requirements mentioned therein.

Q 3. Does AGICO publish the remuneration of the Board of Directors?

As a statutory requirement, the remuneration of the Board of Directors is mentioned in the notes to the financial statements.

Q 4. Who is on the AGICO Board of Management?

Our Board of Directors is made up of eight members. See the List..

Q 5. Has AGICO implemented a Code of Conduct/Ethics?

Yes, in compliance with the statutory requirement, AGICO has implemented a Code of Conduct/Ethics across the board which sets minimum behavioral/conduct standards for all employees, whether at Head Office or branches, in order to prevent situations which might question their honesty. See the full code of conduct.

Q 1. What is health insurance?

Health insurance is a type of insurance coverage that provides cover for medical and surgical expenses incurred by an insured Company or person in need of health services including hospitalization, for medical and surgical management of diseases, disorders and conditions, medical and surgical emergencies and Clinical out door Patient’s treatment.

Q 2. How will health insurance pay for my all medical expenses?

Your health insurance will either pay your hospital bills directly (Panel hospital services), if opted for the cashless facility, or it will reimburse any payment made by you towards medical expenses incurred due to an illness or injury.

Q 3. How can a person buy health insurance?

There are two kindly of health products
1. Group Health Policy that will be offered to a Company, NGO or organization only.
2. Personal Individual health policy will be offered to any individual person or family.

Q 4. What is the eligible age to buy health insurance?

While eligibility age for different health insurance policies differs, the general eligibility age for an adult range between 18 years up to 65 years. The eligibility age for children lies between 30 days up to 18 years.

Q 5. Will I be allowed to buy more than one health insurance plan?

Yes, you are free to buy another plan based on your specific medical needs and conditions but only one policy will be applicable at a time.

Q 6. What are the types of health insurance plans I can buy?

For detail kindly contact to company representative on Tel: 051-111-444-687

Q 7. Can I pay my health insurance premium in installments?

In general, the health insurance premium is paid on a yearly basis. But, where the premium has been mutually agreed to be paid in installments, you can pay your premium in installments (quarterly or half-yearly basis).

Q 8. What are the common coverage benefits under my health insurance?

Health insurance benefits differ from policy to policy. However, basic health insurance benefits include cover for an inpatient hospitalization, pre & post hospitalization, emergency treatment, daycare procedures, organ donor expenses, OPD expenses, and more.

Q 9. What are the benefits of buying a critical illness or dread diseases insurance policy?

Critical illness policies provide coverage for life-threatening illnesses such as Cancer, Stroke, Heart Attack, Kidney Failure, and others. If availing a critical illness plan, you can expect wide coverage for critical illnesses (number of illnesses are covered depending on plan), lump-sum amount payment on diagnosis, tax benefits, and more.

Q 10. Will I be eligible for tax benefits if I buy health insurance?

Yes! Buying health insurance will earn you the eligibility to claim tax benefits under Income Tax Ordinance Section 62A.

Q 11. What if I already have a health insurance policy, but I just want to increase my sum insured?

If you already have an insurance policy but want to extend your cover, you can do so at the time of policy renewal.

Q 12. If, I have been recently diagnosed or already diagnosed with a medical condition. Will I be allowed health insurance?

If you have already been diagnosed with a medical condition, it will be considered a pre-existing Condition/disease and you will be only allowed for the treatment of Pre-existing Condition/disease if your Plan or policy include these services at the time of inception of policy otherwise you are eligible only for the treatment of recently diagnosed Conditions or diseases.

Q 13. What is a pre-existing condition?

Pre-existing condition is any condition which was known to exist prior to the commencement of the policy for the insured person. Conditions like diabetes, hypertension etc. are considered as pre-existing diseases in health insurance.

Q 14. What are the things I should consider before buying my health insurance policy?

Before making a health insurance policy purchase, it is advisable for you to consider your medical needs, the type of plan you want to invest in, features of the plan, sum insured options, network hospital list, exclusions, premium, and customer reviews.

Q 15. What if my entitled limits are exhausted?

If the cost of treatment exceeds the entitled limit or the limit has already been availed then the insured will have to bear the expenses by himself.