PAK-QATAR TAKAFUL GROUP
Pak-Qatar Takaful Group (PQTG) - the first and largest dedicated Takaful enterprise in Pakistan’s Islamic Finance industry, comprises of Shari’ah compliant ventures like; Pak-Qatar Family Takaful Limited (PQFTL), Pak-Qatar General Takaful Limited (PQGTL), Pak-Qatar Investment (Private) Limited (PQIL) and Qatar Group (Private) Limited. These ventures are driven by modern technology and a service-culture, to achieve the fastest growth and high-credibility, by providing innovative Takaful solutions.
The Group of Companies are registered with the ‘Securities & Exchange Commission of Pakistan’ (SECP). PQFTL and PQGTL commenced Takaful operations in the year 2008. The Group has the historic privilege and honor of launching Pak-Qatar Family Takaful Limited as Pakistan’s first and largest Family Takaful Company.
Pak-Qatar Takaful Group with a vision of “providing financial protection and investment through Takaful to everyone” is not only Pakistan’s pioneer and the largest Takaful group but is also the third largest private- sector corporate conglomerate in the entire insurance industry of Pakistan. The Group is proudly managing the financial assets book valued over PKR 20 Billion.
Pak-Qatar Takaful Group annually contributes over PKR 9 billion directly to Pakistan’s GDP and so far has also added around US$ 20 million to the national exchequer of Pakistan. Further, the group has settled and paid claims to Takaful Participants in excess of PKR 6.2 Billion since inception. Finally, PQFTL is the world’s first and only Family Takaful operator that has consistently declared and distributed surplus of over PKR 200 million to Takaful participants since inception.
The Group’s shareholders include some of the strongest financial institutions in the state of Qatar, including; Qatar Islamic Insurance Company (QIIC) and Qatar International Islamic Bank (QIIB). Pak-Qatar Takaful Group’s paid-up capital is in excess of Rs. 2.14 billion (US$ 15.4 million) which entirely represent Foreign Direct Investment (FDI) in Pakistan, mostly from Qatar-based members of the Group’s board of directors and shareholders.
The Group is chaired by His Excellency, Sheikh Ali bin Abdullah Thani J. Al-Thani (member of Qatar’s Royal family).
PQFTL is strengthened by Re-Takaful arrangements with Munich-Re and Hannover-Re. PQGTL is backed by Re-Takaful arrangements with Kuwait Re, Saudi Re, Arab Re and Pak-Re.
The Group’s Insurer Financial Rating (IFS) remains robust, whereby PQFTL is rated “A+” (with Stable Outlook) by JCR-VIS Credit Rating Co. Ltd. and Pakistan Credit Rating Agency (PACRA) while PQGTL is rated “A” (Single A) with Stable Outlook by PACRA.
PQFTL enjoys a strategic Banca-Takaful alliance with FWU AG (Germany), a leading technology company based in Munich, Germany for distribution and instant issuance of Takaful policies at over 3,000 bank branches across more than 100 cities of Pakistan.
PQTG has the largest Takaful branch networks in Pakistan boasting of over 70 branches in more than 60 cities nationwide. In addition, to our brick and mortar physical presence of branch locations across Pakistan we also deliver 24/7 Alternate Distribution Channels (ADCs) accessibility through all digital-media, web-portals, pioneering mobile-Applications and other smart elec.
The Group is currently providing need-based, practical and profitable financial services to more than 700,000 members and over 1000 corporate clients. This includes, Family (Life & Health) financial protection for over 500,000 individual Pakistani citizens that are Takaful participant policy-holders across the country.
The main asset of company is the human talent. Pak-Qatar Takaful Group takes pride in having the best industry practitioners in the world working with dedication for the company. The group is also considered among the best employers of Pakistan with a workforce of over 3,000 people spread all over Pakistan. The group continues to invest in human capital with over PKR 2 billion in talent investment on an annual basis.
Pak-Qatar Takaful Group has won many international awards including ‘Best Takaful Company’ by Global Islamic Finance Awards in London 2018, ‘Brand of the Year’ at the FPCCI Awards in Karachi 2018, ‘Best Takaful Operator’ by IFN Awards in 2017, ‘Best Takaful Operator in Pakistan’ award at the 10th International Takaful Summit London 2016 and ‘Best Takaful Company in Pakistan’ for the year 2015 at 'RTC Islamic Banking & Finance Awards' ceremony in Islamabad and many more.
For further info: www.pakqatar.com.pk